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(Health-NewsWire.Net, August 07, 2021 ) The Key Growth Elements in Detailed?
The increasing demand for centrifuges in process industries and the rising need for wastewater management solutions are the major factors driving the growth of this market. However, the high cost of centrifuges is expected to restrain the market growth during the forecast period.
Worldwide Growth Opportunities in Terms of Revenue:
The Global Industrial Centrifuge Market is projected to reach USD 9.0 billion by 2025 from USD 7.2 billion in 2020, at a CAGR of 4.4%
Power industry accounted for the largest market share in 2019;
On the basis of end users, the industrial centrifuge market is segmented into the chemicals industry, food and beverage industry, metal industry, mining industry, pharmaceutical and biotechnology industries, power plants, pulp and paper industry, wastewater treatment plants, and water purification plants. In 2019, the power industry segment accounted for the largest share of the industrial centrifuge market. Growing oil and gas exploration activities, the establishment of new power plants to cater to the rising energy needs in developing countries, and upgradation of existing power plants to make them more efficient and reliable are some of the factors that are expected to drive the growth of this segment.
Vertical Centrifuge dominated the industrial centrifuge market in 2019;
On the basis of design, segmented into vertical and horizontal centrifuges. In 2019, the vertical centrifuge segment accounted for the largest share of the market. Growth in this segment can be attributed to factors such as the ability of these centrifuges to attain high speeds and the high efficiency of separation.
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Regional Growth, Development and Demand Analysis:
North America accounted for the largest share of the industrial centrifuge market, followed by Europe. The high demand for crude oil, a large number of shale oil and gas drilling activities, government initiatives to manage wastewater, flourishing food processing industry, technological advancements, and government support for the development of innovative centrifugation systems are the key factors driving the growth of the industrial centrifuges market in North America.
Major Key Players Mentioned in the research report are:
Prominent players in the industrial centrifuge market are ANDRITZ AG (Austria), Alfa Laval Corporate AB (Sweden), GEA Group AG (Germany), Mitsubishi Kakoki Kaisha, Ltd. (Japan), Thomas Broadbent & Sons (UK), FLSmidth & Co. A/S (Denmark), Schlumberger Limited (US), Ferrum AG (Switzerland), Flottweg SE (Germany), SIEBTECHNIK TEMA (Germany), HEINKEL Drying & Separation Group (Germany), Gruppo Pieralisi - MAIP S.p.A. (Italy), SPX Flow Inc. (US), HAUS Centrifuge Technologies (Turkey), Elgin Separation Solutions (US), Comi Polaris Systems, Inc. (US), Dedert Corporation (US), US Centrifuge Systems (US), B&P Littleford (US), and Pneumatic Scale Angelus (US).
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