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Research analysis on the global RAD market identifies that the increase in contract manufacturing in the pharmaceutical industry will be one of the major factors that will have a positive impact on the growth of the market. With the growing health issues, governments across the world are investing heavily in the healthcare sector to provide a better-quality life for their citizens. The growth of the overall pharmaceutical industry has led to the growth in certain subsectors, such as contract manufacturing. The rising demand for medicines induces companies to increase their production levels. This will fuel the demand for RADs since they are critical to pharmaceutical manufacturing. Our analysts have estimated that this refrigerated dryer market will grow at a CAGR or almost 7% by 2021.
The integration of loT with compressed dryer systems will be one of the latest trends that will gain traction in the RAD market during the next four years. IoT allows devices to communicate without human-to-human or human-to-computer intervention. Additionally, it also helps management teams to enhance building and equipment control, thus reducing operating costs. Companies have started making efforts to connect various devices to loTs. Parker Hannifin is already implementing "Voice of Machine," a strategy to ensure standardization across all IoT empowered products across its RADs and other products. This will help the company in monitoring and predictive maintenance routines for factory compressed air piping systems.
Owing to the presence of several international vendors, this market appears to be highly competitive. The large vendors with international reach are focusing on understanding innovations in sensor technology and integrating them with refrigerated dryers to develop efficient solutions. The vendors are also concentrating on following inorganic growth strategies such as M&As.
The leading vendors in the market are -
The other prominent vendors in the market are Gardner Denver, HANGZHOU RISHENG DECONTAMINATION EQUIPMENT, BEKO TECHNOLOGIES, KAESER KOMPRESSOREN, SPX FLOW, Parker Hannifin, Chicago Pneumatic, Bossman Instruments Technology, SMC, MTA, Quincy Compressor, and Schulz.
During 2016, the non-cycling segment accounted for the major shares of this market. Refrigerants in the non-cycling refrigerant dryer circulate continuously through the system. This will maintain stable operations within the refrigerant system that uses a hot gas bypass valve or an unloader valve to regulate the flow of refrigerant.
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to this refrigerated dryer market by 2021. RADs are widely used in food and beverage, pharmaceutical, healthcare, and paper industries. The food processing industry in the US comprises of several small local plants and relatively fewer large plants. The emergence of innovative packaging techniques and the growth in plant sizes, will result in the increased demand for RADs in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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