The Industrial Evaporators Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Industrial Evaporators Global Market Report 2024, The industrial evaporators market size has grown strongly in recent years. It will grow from $38.73 billion in 2023 to $41.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to environmental regulations, water scarcity, growth in the food and beverage industry, changes in labor costs, increasing global trade.
The industrial evaporators market size is expected to see strong growth in the next few years. It will grow to $51.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to renewable energy integration, smart manufacturing, biotechnology and pharmaceutical growth, shift towards decentralized manufacturing models, digitalization of processes. Major trends in the forecast period include zero liquid discharge (ZLD) solutions, energy-efficient evaporators, membrane-based evaporation technologies, hybrid evaporation systems, adoption of evaporative cooling.
The growth in the food and beverage industries is driving demand for the industrial evaporators market. The food and beverage industry refers to the inclusion of restaurants, cafeterias, cafés, fast-food joints, pubs, delis, food manufacturing operations, catering businesses, food transportation services, and more. Foods are concentrated using industrial evaporators, which employ heat to evaporate the water from the food. For instance, according to the Food and Drink Federation, a London-based organization that advocates and guides UK food and beverage producers, in 2021, food and drink manufacturing contributed $35.31 billion (£30 billion) to the UK economy, growing by 4.2% from 2020. The industry has more than $131.83 billion (£112 billion) turnover, accounting for 20% of total UK manufacturing. Therefore, the increase in the food and beverage industries is driving the market for industrial evaporators.
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The industrial evaporators market covered in this report is segmented –
1) By Type: Natural/Forced Circulation Evaporator, Falling Film Evaporator, Rising Film Evaporator, Multiple Effect Evaporator, Agitated Thin Film Evaporator, LPG Storage Tank, MVC Evaporator, Electron Beam Evaporator, Other Types
2) By End-User: Pharmaceutical, Chemical And Petrochemical, Electronics And Semiconductor, Pulp And Paper, Food And beverage, Automotive, Other End-Users
Major companies operating in the industrial evaporation market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in March 2023, Organomation, a US-based manufacturer of laboratory equipment, partnered with Pacific Star Group, a US-based provider of laboratory equipment and supplies, to offer GSA approved evaporators. Pacific Star’s GSA contract and extensive network allows Organomation to connect with government agencies and institutions seeking sample preparation equipment.
The industrial evaporators market report table of contents includes:
1. Executive Summary
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