The global desiccant wheel market is expected to record a CAGR of 4.3% during the forecast period. The market is anticipated to be valued at US$ 448.4 million in 2023 and is projected to reach US$ 683.2 million by 2033.
According to a desiccant wheel market assessment, the general humidity content of the atmosphere has changed significantly over the past few decades as a result of rising carbon dioxide levels and rising atmospheric temperatures.
Desiccant dehumidifiers have demonstrated their ability to be significantly more effective and faster than compressor-based dehumidifiers, boosting the desiccant wheel market share. Furthermore, growing electricity costs and the portability of desiccant dehumidifiers are expected to boost global demand for desiccant wheels.
The rapid expansion rate in infrastructure displayed by a large number of industry verticals around the world is the primary driver of the global desiccant wheel market. Several companies in electronics, pharmaceuticals, chemicals, food and beverage, and other sectors are exclusively presenting a tremendous increase in demand and infrastructure development.
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In the anticipated period, the rise of these industries resulted in a significant demand for desiccant wheels. Desiccant wheels can also absorb atmospheric moisture in considerably shorter periods of time, which has boosted the global desiccant wheel market.
Chemicals, pharmaceuticals, food, and beverage industries, for example, require carefully controlled atmospheric conditions in their manufacturing areas. Because many of the items made in these verticals are hygroscopic in nature, they can quickly collect moisture from the air. This increased moisture or humidity could have a negative impact on the manufacturing process or the finished product.
To avert this catastrophe, enterprises use dehumidification techniques in close proximity. The usage of desiccant wheels to control humidity levels in the aforementioned industries is one of the most successful and cost-effective approaches, which is the key driver of the desiccant wheel market.
For sustaining regulatory criteria connected with relative humidity (RH) levels in production infrastructures, desiccant wheels are in high demand from a variety of industry verticals such as food & drinks, chemicals, and pharmaceuticals.
The desiccant wheel market adoption trends are projected to gain global appeal in the next years due to lower electricity costs and the portability of desiccant dehumidifiers. Furthermore, when it comes to extracting moisture in short time spans, desiccant dehumidifiers have proven to be far more successful than compressor-based dehumidifiers.
Food and beverage, pharmaceutical, chemical, and electronics industries, among others, have had promising expansion in recent years. All of the aforementioned industries are subject to stringent government controls.
These businesses make considerable use of desiccant wheels for moisture control in order to attain the allowable humidity level. Other dehumidification technologies, such as thermal wheels and compressor-driven dehumidifiers, have a number of advantages over desiccant wheels.
In addition, after the moisture from the desiccant has been removed, the desiccant wheel can be reused. As a result, the overall operating cost is reduced, making this technology suitable for a variety of businesses. The desiccant wheel market is predicted to grow in lockstep with the rest of the industry in the coming years.
Key Takeaways From the Desiccant Wheel Market Study:
- In recent years, the pharmaceutical and chemical industries have used desiccant wheels for dehumidification, helping the North American desiccant wheels market to stay ahead of other regional markets.
- Silica Gel, one of the report’s sectors, is expected to rise at a CAGR of 4.8 percent over the forecast period.
- The US desiccant wheel market size is expected to reach a valuation of US$ 177.3 Mn by 2032.
- The top application for the desiccant wheel market is pharmaceutical, which is anticipated to rise at a growth rate of 4.5% over the analysis period.
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Key Players Operating in the Desiccant Wheel Market
- Munters
- NovelAire Technologies
- DRI
- Trane
- Rotor Source Inc.
The desiccant wheel market is highly fragmented, with numerous desiccant wheel manufacturers. These businesses endure fierce competition and must keep up with current market events in order to maintain their market position. One of the principal techniques used by market leaders to maintain their dominance is to form strategic alliances with end-use industries for supply.
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Key Segments
By Type:
- Silica Gel
- Molecular Sieve
- Activated Alumina
- Others
By Application:
- Pharmaceutical
- Food Industries
- Chemical
- Electronics
- Warehousing
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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