The Industrial Evaporators Global Market Report 2023 by The Business Research Company, provides industrial evaporators market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Industrial Evaporators Global Market Report 2023, the market size is expected to grow from $36.51 billion in 2022 to $38.94 billion in 2023 at a compound annual growth rate (CAGR) of 6.65%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the industrial evaporators market is expected to reach $48.82 billion in 2027 at a CAGR of 5.81%.
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.
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The industrial evaporators market 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
Product innovation is a key trend in the industrial evaporation market. Major market players are focusing their efforts on creating innovative evaporators for fast, safe, and environmentally friendly removal of all commonly used solvents and acids. For instance, in October 2021, SP Industries (SP), a US-based manufacturer of specialty equipment, launched the SP Genevac EZ-2 4.0 benchtop evaporator for safe and eco-friendly elimination of all regularly used acids and solvents. The new EZ-2 4.0 evaporator has a modern design and an intuitive touch screen, and it represents a major step forward in evaporation technology.
The industrial evaporators market report table of contents includes:
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Top Major Players
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