Screw Pump Market to be Led by Oil & Gas Through 2028
The growing demand for clean water and the rising awareness of water
pollution are likely to propel the market during the forecast period.
According to the TechSci Research report, “Screw
Pump Market - Global Industry Size, Share, Trends, Competition, Opportunity,
and Forecast, 2018-2028,” the market is expected to register a high CAGR in
the near future. Screw pumps offer several significant benefits, including the
ability to work in a range of pressures and flows, high-speed capabilities,
self-priming with strong suction characteristics, high pumping speeds, low
internal velocities, and good tolerance for water vapor and dust particles.
R&D in advanced technology should be increased by businesses. Leading screw
pump market companies are anticipated to seize additional opportunities to
diversify their revenue streams.
Advanced dry screw vacuum pumps, multiple
screw pumps, and spindle screw pumps are increasingly in use in the water and
wastewater industries due to hydraulic fracturing. Eccentric screw pumps and
twin-screw pumps are used in many sectors that frequently work with different
fluids.
Stringent rules for wastewater and effluent
discharge brought about by rising water pollution have led to an increase in
sewage and wastewater treatment facilities around the world, particularly in
developing economies like India, Brazil, Malaysia, etc. Thus, the global demand
for screw pumps is being driven by the expansion of water treatment plants.
Furthermore, there is an alarming increase in the risk of water scarcity around
the world, and it is predicted that by 2030, half of the world's population
will experience water scarcity problems. This puts pressure on the current
water network to redesign effective water management systems, which necessitate
water pumping at various locations. Additionally, the global vehicle sector's
strong development is boosting demand for petrol and diesel, which is in turn
boosting demand for screw pumps for oil and gas industry drilling operations.
Browse over xx market data Figures spread
through 110 Pages and an in-depth TOC on the "Screw Pump Market.”
Key market players in the Screw Pump Market
include:
- Colfax Corporation
- Flowserve Corporation
- Gardner Denver, Inc
- SPX Corporation
- NETZSCH Pumps & Systems
- ITT INC
- Leistritz Pumpen GmbH
- PSG Dover
- Iwaki Co Ltd
- Alfa Laval Corporate AB.
The global screw pump market is segmented by type,
application, and region. Based on type the market is divided into double-suction
twin-screw pump and single-suction twin-screw pump. Based on application, the
market is divided into oil and gas, refineries, food & beverage, storage
and transportation, and others. Based on region, the market is segmented into
North America, Asia-Pacific, Europe, South America, and the Middle East.
Based on type, a positive displacement device
that pumps fluid using two counter-rotating screws is known as a single-suction
twin-screw pump. The phrase "single suction" describes a pump that
only has one point of entry and exit for liquid (or gas), which minimizes
pressure loss during operation in comparison to other double-acting devices
like reciprocating or rotary vane pumps.
Based on application, the market is divided
into oil and gas, refineries, food & beverage, storage and transportation,
and others. The two screw pumps used in the food and beverage industry are used
to move liquids, powders, or granules from one vessel or tank into another
without any type of waste that may arise from using other pumping techniques,
such as horizontal centrifugal pumps. As they are more effective at handling
abrasive materials than rotary lobe pumps, which have the propensity to wear
out over time, there would not be any damage or wear at all after using these
pumps as needed during the production process.
Due to rising investments in these sectors
from both public and private entities, the oil & gas and power industries,
which currently hold the top two positions in the worldwide screw pump market,
are expected to keep these positions during the projected period. As they can
handle wastewater and slurries more effectively and economically than other
types of screw pumps, progressive cavity pumps (PCPs) hold the greatest
proportion of the global screw pump market. Due to rapid development in nations,
such as China, Japan, and India, the Asia-Pacific region generates the majority
of the world's demand for screw pumps. Additionally, the availability of raw
materials, highly skilled labor, and simple regulations and laws are driving
screw pump manufacturers to relocate their production bases from North America
and Europe to Asia-Pacific.
In terms of region, during the anticipated
period, Asia Pacific is expected to dominate the market for screw pumps,
followed by Europe. There are several suppliers and exporters of screw pumps in
nations, such as China and India, where there are also strong distribution
networks. China had the largest trade value when screw pump imports and exports
were examined in 2020.
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“The global market for screw pumps is
anticipated to be driven by the rising need for handling liquids and slurries.
The market is probably going to grow as a result of rising industrialization
and rising prices for wastewater and water treatment. Due to the screw pump's
adaptability to handle downstream, middle, and upstream operations, the oil and
gas industry is more in need of them. Screw pumps play a significant role in
the food and beverage industry. Due to innovative technology and a wide range
of options, screw pumps are a vital component of many industries, which is
projected to drive their demand in the near future,” said Mr. Karan Chechi,
Research Director at TechSci Research, a research-based global management
consulting firm.
Screw Pumps Market – Global Industry Size, Share,
Trends, Opportunities, and Forecast, 2028, Segmented By Type (Double-suction Twin-Screw Pump, Single-suction
Twin-Screw Pump), By Application (Oil and Gas, Refineries, Food & Beverage,
Storage, and Transportation, Other), By Region and Competition has evaluated the future growth
potential of the screw pump market and provides statistics and information on
market structure, size, share, and future growth. The report is intended to
provide cutting-edge market intelligence and help decision-makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities
present in the Screw Pump Market.
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