CHICAGO, June 8, 2023 /PRNewswire/ -- The Desiccant Dehumidifier Market is projected to grow from USD 578 million in 2023 to reach USD 749 million by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.3% from 2023 to 2028 according to a new report by MarketsandMarkets. The growth of the desiccant dehumidifier market is driven by the increasing adoption of desiccant dehumidifiers in various industries, increasing government regulatory policies and incentives for clean energy are the major factors driving the growth of the desiccant dehumidifier market.
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Desiccant Dehumidifier Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $578 million |
Estimated Value by 2028 | $749 million |
Growth Rate | Poised to grow at a CAGR of 5.3% |
Market Size Available for | 2019-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product Type, Application, End User & Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Limitations in terms of applications for desiccant dehumidifiers |
Key Market Opportunities | Ongoing developments in the desiccant dehumidifier technology to contribute to the market growth |
Key Market Drivers | Increasing adoption of desiccant dehumidifiers in various industries |
By product type, the fixed or mounted type desiccant dehumidifiers are projected to hold the largest share of the desiccant dehumidifier market during the forecast period.
The fixed or mounted desiccant dehumidifier segment held the larger market share in 2022, and the portable segment is expected to exhibit higher growth during the forecast period. Portable dehumidifiers are typically lightweight and compact; some models are even equipped with wheels for easy mobility. These portable desiccant dehumidifiers are increasingly being adopted in gyms, basements, sports arenas, and commercial spaces where low-capacity desiccant dehumidifiers are required. Factors like rising investments in product innovation for portable desiccant dehumidifiers also enable the segment's high growth rate in the desiccant dehumidifier market.
By application, the electronics segment is projected to exhibit the highest CAGR during the forecast period.
The electronics application is expected to account for the highest growth of the desiccant dehumidifier industry, as desiccant dehumidifiers are deployed in the manufacturing of electronic devices ranging from the smallest embedded systems and handheld devices to large mainframes and supercomputers. They are used to protect electronic control equipment and bus bars from corrosion and problems caused by flashovers. Excessive humidity/moisture causes corrosion of 'circuit points,' condensation on a microchip's circuit surface, and improper adhesion causing operational failure of the semiconductor. For the protection of electronics and to provide the right working environment, desiccant dehumidifiers are used.
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North America is expected to hold the largest share in the market by 2028.
The North American region is expected to hold the largest share of the desiccant dehumidifier market during the forecast period. The US is a major contributor to the growth of the desiccant dehumidifier market in North America. This can be attributed to the increasing adoption of desiccant dehumidifiers across various applications such as food production and processing, where desiccant dehumidifiers aid in maintaining ideal moisture levels, thereby preventing food quality degradation. Desiccant dehumidifiers are widely used and accepted systems in industrial and commercial applications in North America that require specific humid conditions in food processing, warehousing industry, storage, and pharmaceutical manufacturing. They are also installed in supermarkets and waterworks facilities. With the expansion of manufacturing units, warehouses, water treatment facilities, and lithium-ion battery production plants in North America, there is a growing need for desiccant dehumidifiers to maintain appropriate humidity levels.
Major players operating in desiccant dehumidifier companies include Munters (Sweden), Bry-Air (India), Condair Group (Switzerland), Cotes (Denmark), Seibu Giken DST (Sweden), Trotec (Austria), DehuTech AB (Sweden), Fisen Corporation (US), Atlas Copco (Sweden), and Parker Hannifin Corporation (US).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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