The global industrial evaporator market size was US$ 17.1 billion in 2021. The global industrial evaporator market is expected to grow to US$ 23.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
Factors Influencing the Market
The global industrial evaporator market is forecasted to grow tremendously due to the growing population, changing trends, rising disposable income, and rising product launches. As a result, it will drive the growth of the industrial evaporator market during the analysis period.
The primary reason prompting the demand for industrial evaporators is the rising deployment of Zero Liquid Discharge (ZLD) technology. Additionally, the rising knowledge about water treatment applications will contribute to market growth. The global industrial evaporator market will also be influenced by the growing consumption of water and dairy products during the analysis period.
Additionally, some improvements in the system's fundamental design to lessen scaling and the increasing use of mechanical vapor recompression type in oil sand industries and electron beam type for semiconductor industry deposition processes will all benefit the market during the analysis period.
Industrial evaporators find applications in the food & beverage industry, majorly to enhance the shelf life of food products. The growth of the sector is expected to present attractive prospects for market growth during the analysis period.
Regional Analysis
During the projected period, the industrial evaporator market in Asia-Pacific is anticipated to grow at the fastest rate. Demand will increase throughout the projected period due to rising demands in the region, which includes China, India, and Japan. Opportunities have been established for the pharmaceutical, automotive, chemical, petrochemical, food and beverage, and electronics industries.
The industrial evaporator market has grown due to increased product development in this area, majorly due to shifting patterns, an influx of people, and higher disposable incomes. Additionally, the rising population of the region is expected to present potential prospects for market growth during the analysis period. One of the key elements influencing the market demand in the area is the requirement for effective water treatment facilities brought on by the region's rapid industrialization and urbanization.
COVID-19 Impact Analysis
The COVID-19 pandemic has negatively affected the industrial evaporators market worldwide. It is owing to the stringent lockdowns, which resulted in supply chain disruptions and declined demand for non-essentials. Additionally, the shutdown of production facilities posed threat to the industrial evaporator market for a prolonged time.
Competitors in the Market
Alfa Laval
Belmar Technologies Ltd.
Coilmaster Corporation
Colmac Coil Manufacturing, Inc.
De Dietrich Process System
GEA Group AG, JEOL Ltd.
Praj Industries Ltd
RELCO LLC
Saltwalk Technologies Inc.
SMI Evaporative Solutions
SPX Flow Inc.
SUEZ Water Technologies and Solution
Sumitomo Heavy Industries Ltd
Veolia Water Technologies
Other Prominent Players
Market Segmentation
The global industrial evaporator market segmentation focuses on Type, Functionality, End-Use, and Region.
Industrial Evaporator Market, By Type
Shell and Tube
Plate
Industrial Evaporator Market, By Functionality
Falling Film
Rising Film
Forced Circulation
Agitated Film
Mechanical Vapour Recompression
Others
Industrial Evaporator Market, By End-Use
Pharmaceutical
Pulp & Paper
Chemical & Petrochemical
Electronics & Semiconductor
Automotive
Food & Beverages
Others
Industrial Evaporator Market, By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
