In this paper, we investigate how the power consumption of a heat pump dryer depends on various factors in the drying process by analyzing variables that affect the power consumption. Since there are in general many variables that affect the power consumption, for a feasible analysis, we utilize the principal component analysis to reduce the number of variables (or dimensionality) to two or three. We find that the first component is correlated positively to the entrance temperature of various devices such as compressor, expander, evaporator, and the second, negatively to condenser. We then model the power consumption as a multiple regression with two and/or three transformed variables of the selected principal components. We find that fitted value from the multiple regression explains 80~90% of the observed value of the power consumption. This results can be applied to a more elaborate control of the power consumption in the heat pump dryer.