Technavio, a tech-focused market research firm, has published a new report on the global industrial evaporators market, which is expected to experience a slow but steady growth rate with a CAGR of close to 7% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global industrial evaporators market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global industrial evaporators market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global industrial evaporators market for 2015 (market share %)
|
APAC |
40.1% |
|
EMEA |
31.7% |
|
Americas |
28.2% |
Source: Technavio
APAC: largest revenue generating region for industrial evaporators
The global industrial evaporators market in APAC was valued at more than $5 billion in 2015 and is expected to grow at a CAGR of about 8% by 2020. The primary end-user on the industrial evaporators market in the region are food and beverage and water treatment industries. India and China will emerge as the key revenue contributor in the APAC market. The Indian food industry is the fifth largest in terms of production, consumption, export, and expected growth among all the industries. The exponential growth in the dairy market in the country will attribute to the development of industrial evaporators during the forecast period. The improving logistics systems and growing concerns for food safety in China will propel the use of industrial evaporators in that region.
“The growth of the water treatment industry in countries like China, India, Indonesia, Thailand, Vietnam, and the Philippines will help in the progress of the market. These countries are focusing on providing access to potable water for consumption in rural areas. The raising awareness for clean and safe drinking water will encourage consumers to invest in water treatment systems. The advent of urbanization and industrialization in the APAC market will increase the demand for these systems,” says Gaurav Mohindru, a lead analyst at Technavio, specializing in research on unit operations.
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Industrial evaporators market in EMEA
The global industrial evaporators market in EMEA was valued at more than $3 billion in 2015 and is expected to grow at a CAGR of about 5% by 2020. The increasing demand for retrofitting activities in the region will fuel the growth of the market during the forecast period. The regulatory bodies in the European Union are focusing on protecting the natural environment through wastewater and sludge treatment, which in turn increases the requirement for industrial evaporators. Germany harbors the best water infrastructure in Western Europe, and the country is the most advanced in terms of adopting EU regulations. The increasing efforts towards the development of the food and beverages industry in Western European countries will promote the use of these systems in the market.
Industrial evaporators market in the Americas
The global industrial evaporators market in the Americas was valued at about $4 billion in 2015 and is expected to grow at a CAGR of around 6% by 2020. The development of the water treatment and food and beverage industry in emerging countries like Latin Americas will lead to the growth of the American market. Brazil will emerge as the key revenue generator in this area. The increasing number of health conscious and fitness experts and preference for products that substitute allergens and other dietary staples in the Brazilian market will increase the requirement for evaporators in the country. Also, factors like inefficient water distribution network and poor sanitation amenities fuel the demand for wastewater treatment facilities within the country. The rising environmental regulations on the reuse of water and water scarcity will drive the market growth in this region.
The top leading vendors operating in the global industrial evaporators market are:
- ENCON Evaporators
- GE
- KMU LOFT
- Technoforce Solutions
- Thermal Kinetics
Other prominent vendors in the market are ADF Systems, Alaqua, Buchi, Coastal Technologies, Continental Blower, Environmental Dynamics, EZ Environmental Solutions, Mech-Chem Associates, and Temco.
A more detailed analysis is available in the Technavio report titled, ‘Global Industrial Evaporators Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Industrial Salt Market 2016-2020
- Global Industrial Refrigeration Market 2016-2020
- Global Industrial Mixer Market 2016-2020
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