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 during the historical period can be attributed to environmental regulations, water scarcity, growth in the food and beverage industry, changes in labor costs, and the 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 anticipated growth in the forecast period can be attributed to the integration of renewable energy, smart manufacturing, the growth of biotechnology and pharmaceuticals, a shift towards decentralized manufacturing models, and the digitalization of processes. Key trends in the forecast period encompass zero liquid discharge (ZLD) solutions, energy-efficient evaporators, membrane-based evaporation technologies, hybrid evaporation systems, and the adoption of evaporative cooling.

The industrial evaporators market is witnessing growth due to the expanding food and beverage industries. The food and beverage industry encompasses various businesses such as restaurants, food manufacturing, catering, and more. Industrial evaporators, which use heat to remove water from food, play a crucial role in food concentration. For instance, in 2021, the food and drink manufacturing sector contributed $35.31 billion (£30 billion) to the UK economy, showing a 4.2% growth from 2020. The overall turnover of the industry exceeded $131.83 billion (£112 billion), constituting 20% of total UK manufacturing. Thus, the growth in the food and beverage industries is driving the industrial evaporators market.

The industrial evaporators market is witnessing growth driven by the expanding chemical processing industry. The chemical processing industry encompasses the production, manufacturing, and processing of chemicals and chemical products. Industrial evaporators are instrumental in the chemical processing industry, providing solutions for concentration, separation, solvent recovery, and wastewater management. According to the American Chemical Society, the output of chemicals is projected to increase by 4.1% in 2022 and 2.4% in 2023. Therefore, the growing chemical processing industry is a key driver for the industrial evaporators market.

Product innovation is also a significant trend in the industrial evaporation market. Major players in this market are focusing on creating innovative evaporators for fast, safe, and environmentally friendly removal of commonly used solvents and acids. For instance, in October 2021, the US-based manufacturer SP Industries launched the SP Genevac EZ-2 4.0 benchtop evaporator, featuring a modern design and an intuitive touch screen, representing a significant advancement in evaporation technology.

Major companies in the industrial evaporation market are focusing on strategic collaborations to provide reliable services to customers. Strategic collaboration involves a mutually beneficial partnership between independent entities working together to achieve shared goals aligned with their individual strategic objectives. 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 allow Organomation to connect with government agencies and institutions seeking sample preparation equipment.

In January 2022, De Dietrich Process Systems, an India-based comprehensive solutions company, acquired Zean Engineering for an undisclosed amount. This acquisition enables De Dietrich Process Systems to combine its international network strength with Zean Engineering's technical expertise, particularly in the manufacturing of thin film evaporators.

Major companies operating in the industrial evaporators market report are Atlas Copco AB, Tetra Pak AB, ADF Systems Inc., GEA Group AG, Alfa Laval AB, Ebara Corporation, SPX Corporation, Armstrong World Industries Inc., Komax Systems Inc., Zhejiang Dayuan Evaporative Technology Co. Ltd., BÜCHI Labortechnik AG, Louisville Dryer Company, Bucher Unipektin AG, John Brooks Company Limited, Aqua-Chem Inc., Praj Industries Limited, Artisan Industries Inc., Technoforce Solutions (I) Pvt. Ltd., Thermal Kinetics Engineering PLC, Swenson Technology Inc., ENCON Evaporators, Buflovak LLC, Vobis LLC, Alaqua Inc., Caloris Engineering LLC, Compro International Inc., Coastal Technologies Group Inc., KMPT USA Inc., Falling Film America LLC, Fenco Food Machinery Srl.

Asia-Pacific was the largest region in the industrial evaporators market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial evaporators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial evaporators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of industrial evaporators include natural/forced circulation evaporators, falling film evaporators, rising film evaporators, multiple effect evaporators, agitated thin film evaporators, LPG storage tanks, MVC evaporators, electron beam evaporators, and other types. Falling film evaporators, for solvent recovery and high-quality cannabis extract oil production, separate substances with different boiling point temperatures. Industrial evaporators are utilized across pharmaceutical, chemical & petrochemical, electronics & semiconductor, pulp & paper, food & beverage, automotive, and other end-user industries.

The industrial evaporators market research report is one of a series of new reports that provides industrial evaporator market statistics, including industrial evaporator industry global market size, regional shares, competitors with an industrial evaporator market share, detailed industrial evaporator market segments, market trends and opportunities, and any further data you may need to thrive in the industrial evaporator industry. This industrial evaporator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The industrial evaporators market consists of sales of shell & tube evaporators and plate evaporators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.