Global Desiccant Dehumidifiers Market to Reach $635.6 Million by 2026
SAN FRANCISCO, Feb. 2, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Desiccant Dehumidifiers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: January 2022
Executive Pool: 1109
Companies: 72 - Players covered include Bry-Air, Inc.; Condair Group; Cotes; DehuTech AB; Desiccant Technologies Group; EIP Ltd Group; Fisen Corporation; MuntersPvt. Ltd.; Seibu Giken DST AB; STULZ Air Technology Systems, Inc.; Trotec GmbH and Others.
Coverage: All major geographies and key segments
Segments: Application (Industrial, Residential, Commercial)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Middle East; Africa.
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ABSTRACT-
Global Desiccant Dehumidifiers Market to Reach US$635.6 Million by the Year 2026
Desiccant dehumidifiers rely on specific desiccant materials like Zeolite for absorbing water vapor or moisture. As the process do not generate water, these units present an effective option to maintain humidity levels at sub-zero temperature settings. Desiccant dehumidifiers are used in various applications in areas such as food & beverage industry, medical centers, commercial buildings, hotels, manufacturing facilities and others. Growth in the global market is set to be driven by rising uptake of desiccant dehumidifiers as a result of rapid industrialization, technological advances and implementation of stringent standards to promote energy savings and mitigate climate change. The market is gaining traction owing to increasing uptake of these units across diverse settings to ensure occupant health and comfort. Factors such as rapid urbanization, increasing disposable income and changing environmental conditions are providing a perfect scenario for overall expansion of the desiccant dehumidifier market. These units are finding rising adoption in industrial applications requiring optimal humidity and temperature levels. Various sectors and industries like packaging, food, operating rooms, storage and clean rooms are increasingly betting on these units for maintaining desired humidity levels. The implementation of stringent energy and sustainability standards across various countries is expected to provide the desired boost to the desiccant dehumidifier market. Several governments are coming up with new standards for residential dehumidifier appliances for pushing energy savings.
Amid the COVID-19 crisis, the global market for Desiccant Dehumidifiers estimated at US$515.1 Million in the year 2020, is projected to reach a revised size of US$635.6 Million by 2026, growing at a CAGR of 3.5% over the analysis period. Industrial, one of the segments analyzed in the report, is projected to grow at a 3.8% CAGR to reach US$392.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Residential segment is readjusted to a revised 2.8% CAGR for the next 7-year period. This segment currently accounts for a 21.7% share of the global Desiccant Dehumidifiers market. Rising adoption of desiccant dehumidifiers in the industrial sector is attributed to their cost-efficient nature and ability to effectively control moisture levels. Various companies depend heavily on desiccant dehumidifiers to protect raw materials like concrete slabs and iron bars free from the adverse impact of moisture. The segment is poised to receive a major impetus from high demand for these units from the food packaging and service industry. Residential buildings represent a small but growing market for desiccant dehumidifiers. Available in various configurations, sizes, and price points, whole house air quality monitors can be fitted into virtually any location in the residential building including doors and windows. Furthermore, residential dehumidifiers are increasingly being equipped with smartphone and smart home connectivity features, while allowing additional flexibility in gauging the air quality through real-time messaging for the benefit of homeowners and occupants.
The U.S. Market is Estimated at $152.4 Million in 2021, While China is Forecast to Reach $78.2 Million by 2026
The Desiccant Dehumidifiers market in the U.S. is estimated at US$152.4 Million in the year 2021. The country currently accounts for a 28.75% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$78.2 Million in the year 2026 trailing a CAGR of 5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR while Rest of European market (as defined in the study) will reach US$49.2 Million by the end of the analysis period.
Commercial Segment to Reach $123 Million by 2026
The commercial segment's growth is credited to increasing infrastructure-related activities across commercial spaces such as departmental stores, schools and hospitals. Indoor air pollution in homes, and commercial buildings is believed to have a far more serious, and devastating impact on health when compared to outdoor pollution. Against this backdrop, there is growing importance of dehumidifiers including desiccant dehumidifiers in improving air quality by maintaining optimal levels of humidity. In the global Commercial segment, USA, Canada, Japan, China and Europe will drive the 2.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$77.4 Million in the year 2020 will reach a projected size of US$95 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$13.2 Million by the year 2026. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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SOURCE Global Industry Analysts, Inc.
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