The Dry Room Dehumidifier Market is estimated to be valued at US$ 310 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Paragraph: The Dry Room Dehumidifier Market is estimated to be valued at US$ 310 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Dry room dehumidifiers are used to reduce the moisture content in the air, maintaining low humidity levels in enclosed spaces. They are essential for preserving moisture sensitive goods like foods, pharmaceuticals, electronics and medical equipment. Dry room dehumidifiers provide reliable and energy efficient humidity control compared to traditional heating and ventilation methods.
Market key trends:
The growing healthcare industry is driving the demand for dry room dehumidifiers. Healthcare facilities require stable humidity levels to store moisture sensitive medical equipment and pharmaceutical products. Moreover, strict regulations regarding hygiene and storage conditions in the healthcare sector augment the market growth. Additionally, the increasing focus on improving food quality is also fueling sales of dry room dehumidifiers in food processing and storage applications. Manufacturers are developing advanced products with features like monitoring systems, mobile applications and self-cleaning mechanisms to attract more customers.
Porter’s Analysis
Threat of new entrants: Low threats as new players need to have established production facilities and distribution network to compete in the established market.
Bargaining power of buyers: Moderate as large buyers can negotiate better prices but dry room dehumidifier is a niche product where limited suppliers operate.
Bargaining power of suppliers: Moderate as major components like compressors, fans etc. are supplied by few global players putting pressure on profit margins of dehumidifier makers.
Threat of new substitutes: Low as dry room dehumidifier has limited substitutes and fulfills critical moisture control needs in industries.
Competitive rivalry: High as the market has few international players competing on technology and pricing.
SWOT Analysis
Strength: Established brand names, global distribution network, wide product portfolio catering to varied industrial needs.
Weakness: High R&D costs for new product development, vulnerability to commodity price fluctuations.
Opportunity: Growing industrial construction in emerging markets, rising moisture control requirements in healthcare and electronics sectors.
Threats: Trade barriers affecting global supply chains, stringent efficiency regulations requiring frequent upgrades.
Key Takeaways
The Global Dry Room Dehumidifier Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing industrial automation and stringent hygiene standards across manufacturing facilities. North America dominates the market currently owing to large dehumidification needs in food, electronics and pharmaceutical sectors in the region.
Regional analysis: The Asia Pacific dry room dehumidifier market is projected to witness fastest growth due to rapid industrialization and expansion of manufacturing hubs in China, India, Indonesia and Vietnam. Strict quality norms and demand for continuous production are driving adoption of industrial dry room dehumidifiers in the region.
Key players: Key players operating in the dry room dehumidifier market are DanDry, Bry-Air, Drymate, DehuTech AB, Aprilaire, Therma-Stor LLC, Santa Fe Products, Surna Inc., and Desert Aire Corp. DanDry and Bry-Air together account for over 30% of global revenues owing to their early mover advantage and widespread distribution infrastructure.
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