Global distillation systems market is anticipated to drive due to growing demand for distilled spirits, rising industrialization, and rapid urbanization
distillation systems
The global distillation systems market size was valued at USD 6.66 billion in 2019 and is anticipated to ascend to USD 9.29 billion by 2027, with a CAGR of 4.14 %, during the forecast period, 2020-2027. The growth is based on the imposition of regulations and the rising demand for pure products, including water. Additionally, the various R&D activities in the distillation systems market for the advancement of the technologies are projected to trigger the growth of the global distillation systems industry in the future periods. Further, the strict government regulations to curb water contamination will spur the market expansion of distillation systems. Also, the growing water pollution, along with increasing urban population and growing health awareness among the younger demographic, will augment the growth of the distillation systems industry.
Moreover, the rise in population and lack of portability in developing countries will augment the global distillation systems' market share in the coming periods. The growth of the manufacturing sector and the upsurge in demand for the distillation process to obtain the pure form of the product is fueling the demand for distillation systems in the projected periods. Furthermore, the growing concerns over water pollution and the regulatory authorities have implemented strict regulations on the disposal of wastewater; these factors estimated to fuel the growth of the distillation systems industry.
Component Overview in the Global Distillation systems Market
Based on the component, the global distillation systems market is classified into column shells, plates (or trays) and packings, reboilers & heaters, condensers, and others. The column shells will be the fastest-growing segment in the forecast period. It is attributable to the high cost of the components, and column shells play a crucial role in determining the function for which the system is deployed and the cost of the system.
The plates and packings are projected to account for the largest share by 2027 as they provide stage-wise contact and are more suitable for low capacity operations.
Techniques Overview in the Global Distillation Systems market
Based on the techniques, the global distillation systems market segregated into Fractional, Steam, Vacuum, MED, and Others. The vacuum held for the highest revenue in 2019 due to the vacuum used for the separation of heavy hydrocarbon residues that are left during the atmospheric distillation of crude oil.
Application Overview in the Global Distillation Systems Market
Based on the application, the global distillation systems market segregated into water treatment, food, beverage, petroleum, pharmaceutical, chemical, and others. The beverage segment accounted for a larger market share in 2019 and projected to lead the market by 2027. It is due to the distillation used for the manufacturing of alcoholic beverages with various flavors and different percentage levels of alcohol.
The petroleum will grow with a significant CAGR during the forecast period due to the distillation help in separating crude oil components that have different molecular sizes, boiling points, and weights.
Operation Overview in the Global Distillation Systems Market
Based on operation, the global distillation systems market bifurcates into continuous and batch. The continuous segment generated the most substantial revenue in 2019, on account of providing continuous efficiency and quantity process multiple with columns.
Regional Overview in the Global Distillation Systems Market
By geography, the global distillation systems market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific accounted for the maximum revenue share in 2019. It is owing to the growing need for desalination, numerous large players operating in the market, and increasing R&D activities by governments and private organizations.
Global Distillation systems Market: Competitive Landscape
Companies such as GEA, SPX FLOW, Alfa Laval, Sulzer, Core Laboratories, PILODIST, Praj Industries, Anton Paar, EPIC Modular Process Systems, L&T Hydrocarbon Engineering, BÜFA Composite System, and Bosch Packaging Technology are the key players in the global distillation systems market.
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