Global Desiccant Wheel Market to Reach US$ 463.0 Million by 2024; Global Share, Size, Revenue, Sales, Trends, and Forecast up to 2024 - TMR
ALBANY, New York, October 5, 2016 /PRNewswire/ --
TMR estimates that the market holds immense growth opportunities and will tread along a healthy growth path over the period between 2016 and 2024. The market is expected to exhibit a nearly 5% CAGR over the said period, rising from a valuation of US$296.5 mn in 2015 to US$ 463.0 mn by 2024. Of the key desiccants used in desiccant wheels, the segment of silica gel is dominated by a sizeable margin, holding a 68% of the overall market in 2015.
Desiccant wheels are experiencing a vast rise in demand from a number of industry verticals such as food and beverages, chemicals, and pharmaceuticals for maintaining the regulatory standards associated to the relative humidity (RH) levels in production infrastructures. In the next few years, reduction in electricity costs and portability of desiccant dehumidifiers are expected to increase the popularity of desiccant wheels on a global front. Furthermore, desiccant dehumidifiers have demonstrated their ability to be much more effective than compressor-based dehumidifiers when it comes to extracting moisture in short time spans.
Get Sample of Research Report or for further inquiries, click here: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=13469
Higher Humidity because of Rising Global Temperature to Drive Market
The increased emission of carbon and other greenhouse gases such as nitrous oxide and methane owing to the rapid pace of industrialization has resulted in a rise in temperature levels globally. These drastically rising levels of temperature are resulting in higher concentrations of humidity in the atmosphere. According to NASA's Goddard Institute for Space Studies (GISS), 2015 was ranked as the warmest year on record.
Also, increased temperatures are resulting in an increase in surface humidity. These factors are driving the heightened need for dehumidification equipment across multiple industries, such as food and beverages, chemicals, and pharmaceuticals. With increased humidity levels, the amount of moisture absorbed by desiccant wheels increases, which in turn reduces their lifespan and drives the need for additional desiccant wheels across key end-use industries. This factor is expected to have a significant positive impact on the overall development of the global desiccant wheels market over the forecast period.
The market is also expected to be driven by the rising demand for energy efficient heating, ventilation, and air-conditioning (HVAC) equipment in the next few years. HVAC equipment could be extremely costly. In order to reduce the cost of overall HVAC systems with low energy consumption and operational intelligence, desiccant-wheel-based dehumidification systems are preferred by consumers.
Browse Regional PR at http://www.europlat.org/asia-pacific-desiccant-wheel-market.htm
Low Performance at High Temperature and Humidity Level to Hamper Market Growth
One of the key issues with desiccant wheels is that they cannot operate at full potential in high levels of temperature and humidity. In such situations, the performance of desiccant wheels is drastically affected and the increased need for replacement with new equipment is felt. This factor is expected to have a sizeable negative impact on the overall development of the global desiccant wheel market in the next few years.
Pungent smells from sources such as cigarettes and building materials get stored in desiccant wheels along with the moisture it adsorbs from the surrounding air in a vicinity. When the desiccant is reheated to remove adsorbed moisture during the regeneration process, it also results in the heating up of the odor previously stored, producing a stronger odor. This could sometimes result in unhealthy atmospheres for people working around.
Competitive Landscape
The global desiccant wheel market is highly competitive in terms of products and services offered, observes Transparency Market Research (TMR) in a recent report. Key players in the market, including Munters AB, which earned nearly 33% of its revenues from sales of desiccant wheel products and solutions in 2015, focus on differentiating their offerings from those of their competitors and adding innovative products and services in their portfolio. "With the presence of many smaller players in the market, partnerships have become crucial for success," states a TMR analyst. Other notable vendors in the market are NovelAire Technologies, Trane, DRI, Proflute AB, Rotor Source, Inc., Seibu Giken DST AB, and Flakt Woods Group.
From a geographic perspective, North America led the global market in 2015 and is also expected to remain one of the most attractive regional markets over the forecast period. Market in Asia Pacific, however, is expected to outpace North America owing to the high concentration of operations units of several key end-use industries.
This review of the market is based on a recent market research report published by Transparency Market Research, titled "Desiccant Wheel Market (Desiccant Type - Silica Gel, Molecular Sieve, and Activated Alumina; Application - Pharmaceutical, Food Industries, Chemical, Electronics, and Warehousing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
For the study, the global desiccant wheel market is segmented as follows:
By Type of Desiccant
- Silica Gel
- Molecular Sieve
- Activated Alumina
- Others
By Application
- Pharmaceutical
- Food Industries
- Chemical
- Electronics
- Warehousing
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
Recent Technology Reports by Transparency Market Research:
- Automated Marine Debris Collection Equipment Market:
http://www.transparencymarketresearch.com/automated-marine-debris-collection-equipment-market.html
- Burner Management System (BMS) Market:
http://www.transparencymarketresearch.com/burner-management-system-market.html
About Us:
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact:
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Share this article