Desiccant Wheel Market: Current Analysis and Forecast (2022-2030)
Emphasis on into Product Type (Silica Gel Desiccant Wheel, Molecular Sieve Desiccant Wheel, and Others) and Application (Pharmaceutical, Food Industry, Chemical Industry, Electronics and Others); Region/Country.
The Desiccant Wheel Market was valued at USD 356 million in 2021 & is expected to grow at a CAGR of 5.0% from 2022-2030. Owing to the capability to remove moisture from the air and maintain optimal performance. As the demand for air conditioning and refrigeration systems continues to grow, particularly in developing countries, the demand for desiccant wheels is also expected to increase. Moreover, with increasing awareness about the need and benefits of desiccant wheel technology, spending on product development and R&D activities has increased globally. Desiccant wheels are commonly used in cooling systems for electronic devices and equipment. As the demand for electronics continues to grow, particularly in emerging markets, the demand for desiccant wheels is also expected to increase especially in the developed and developing countries. Additionally, Governments in various countries are implementing policies and initiatives aimed at promoting energy efficiency and sustainability. For instance, April 4, 2023, Genoa bridge dehumidification by DST7 RLZ-82R dehumidifiers was successfully installed in the new Saint George Bridge in Genoa, Italy by Seibu Giken DST.
Some of the major players operating in the market include Seibu Giken DST, ProFlute, Trane, FlaktGroup SEMCO, Airxchange, NovelAire Technologies, NICHIAS Corporation, Rotor Source, DRI., and Puresci Environment Technology Limited. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, the molecular sieve desiccant wheel segment has a significant growth rate.”
Based on product type, the market is segmented into silica gel desiccant wheel, molecular sieve desiccant wheel and others. Amongst these, the molecular sieve desiccant wheel segment has significant growth in the market in 2021. This is because Molecular sieve desiccant wheels are designed to be compact, which makes them easy to install and use in a wide range of applications. They can be integrated into existing systems and can be easily transported, making them highly versatile.
“Amongst application, the electronics segment has a significant growth rate.”
By application, the market is segmented into the pharmaceutical, food industry, chemical industry, electronics, and others. Among these, the electronics segment has significant growth in the desiccant wheel market in 2021. The growth of the electronics segment can be attributed to high energy efficiency, which makes them an attractive option for manufacturers looking to reduce energy consumption. Additionally, they are designed to be compact and space-efficient, which makes them ideal for use in electronic devices and equipment where space is limited.
“Asia-Pacific is expected to grow at the highest CAGR during the forecasted period.”
The Asia-Pacific Desiccant Wheels market is expected to witness significant growth owing to various factors. Industrialization and urbanization of the region are driving the need for air conditioning and refrigeration systems that use desiccant wheels to regulate humidity. Additionally, there is an increasing demand for energy-efficient technologies in the region, which is driving the adoption of desiccant wheels. These systems are more energy efficient than traditional refrigeration systems and can help reduce energy consumption and costs. Government initiatives and policies are also driving the growth of the desiccant wheels market in the Asia-Pacific region. Policies aimed at promoting the adoption of energy-efficient technologies enhance the market. Moreover, investment in the HVACR industry, which is a major consumer of desiccant wheels is driving market growth in this sector.
Desiccant Wheel Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global desiccant wheel market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Desiccant Wheel Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global desiccant wheel market were the three major steps undertaken to create and analyze the adoption of desiccant wheel in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global desiccant wheel market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the desiccant wheel market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the desiccant wheel market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the desiccant wheel market. Further, we conducted factor analysis using dependent and independent variables such as product type and application of the desiccant wheel market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the desiccant wheel market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global desiccant wheel market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the desiccant wheel market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global desiccant wheel market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global desiccant wheel market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global desiccant wheel market.
The main objective of the Global Desiccant Wheel Market Study
The current & future market trends of the global desiccant wheel market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the desiccant wheel market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of the product type and application.
- Define and analysis of the regulatory framework for the desiccant wheel
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the desiccant wheel market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the desiccant wheel market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
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