Briquetting Machine Market Trends

Growth Drivers

Growing Adoption of IoT -The growing adoption of IoT in briquetting is influencing the advancement of these machines. With the embracement of IoT, various features include remote monitoring, real-time data analysis, and automated process to increase productivity, efficiency, and quality.
Rising Demand for Power will drive the briquetting machine market expansion -By 2040, the demand for energy is projected to grow by about 20% globally. Hence, the demand for briquetting is on the rise. Moreover, in many underdeveloped nations access to conventional energy is less. So briquetting guides are satisfying this surge in demand.
Surge in the Production of Food -There is a high need for power in food processing industries for the process of drying and backing. Briquetting machines are used in these processes.

Challenges

Energy Required in Briquetting Manufacturing is High
Easy and Cheaper Availability of Non-Renewable Sources – The price of briquetting is usually high. Hence, the preference for alternative non-renewable energy which is available easily and at a cheaper price is more. Fossil fuels are the non-renewable energy source that is both the cheapest and most accessible. Coal, oil, and gas are instances of fossil fuels.
Briquetting Process Creates Too Much Dust

Briquetting Machine Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	7.2%
Base Year Market Size (2023)	USD 1.07 Billion
Forecast Year Market Size (2036)	USD 2.65 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of briquetting machine is evaluated at USD 1.14 Billion.

The briquetting machine market size was valued at USD 1.07 Billion in 2023 and is anticipated to exceed USD 2.65 Billion by the end of 2036, expanding at over 7.2% CAGR during the forecast period i.e., between 2024-2036. The major factors driving the growth of the market are the growing adoption of IoT, rising demand for power, and a surge in the production of food.

Asia Pacific industry will register substantial growth through 2036, driven by growing adoption of renewable energy.

CF Nielson A.S, RUF US, Inc., Santec Exim Private Limited, WEIMA Maschinenbau GmbH, Jay Khodiyar Machine Tools, Maxton Industrial Co., Ltd., Yuken Europe Ltd., GURU KIRPA Engineering Works, Zhengzhou E.P Machinery Co., Ltd., GEMCO Energy Machinery Co., Ltd

Briquetting Machine Market Trends