The increasing demand for centrifuges in process industries, rising need for wastewater management solutions, and technological advancements in centrifuge systems are the major factors driving the growth of this market. Development of next-generation centrifuges and growing demand for centrifuges in developing countries are expected to offer significant growth opportunities for players in the coming years.
What the Market Looks Like?
Predicted to grow at a CAGR of 4.9% during the forecast period, the Global Industrial Centrifuges Market is estimated to reach USD 11.06 Billion by the end of 2022. In 2017, North America is expected to account for the largest share of the market.
Based on type, the global Industrial Centrifuges Market is segmented into sedimentation centrifuges and filtering centrifuges. In 2017, the sedimentation centrifuges segment is expected to account for the largest share of the Industrial Centrifuges Market. The wide range of industrial applications, ability to achieve high speeds, increase in oil and gas explorations, and rising need of wastewater treatment are the major factors contributing to the growth of this segment.
Based on end user, the Industrial Centrifuges Market is segmented into the chemical industry, food & beverage industry, metal industry, mining industry, pharmaceutical and biotechnology industries, power industry, pulp and paper industry, wastewater treatment plants, and water purification plants. In 2017, wastewater treatment plants segment is expected to witness the highest growth during the forecast period. The increasing population levels, environmental degradation, economic development (resulting in rapid urbanization and industrialization), increasing government spending on water utilities and wastewater treatment, and stringent regulations on wastewater discharge are the major factors driving the growth of this segment.
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What Drives the Market?
The growth of the global market for Industrial Centrifuges is primarily influenced by the following factors:
- Increasing Demand for Centrifuges from Process Industries
- Growing Need for Wastewater Management Solutions
- Technological Advancements
- Development of Next-Generation Centrifuges
Geographical growth scenario of Industrial Centrifuges Market
Geographically, the market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2017, North America is expected to account for the largest share of the Industrial Centrifuges 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 market in North America.
Leading market players and strategies adopted
The prominent players in the Industrial Centrifuges Market include Andritz, Alfa Laval, GEA Group, Mitsubishi Kakoki Kaisha, Thomas Broadbent, FLSmidth, Schlumberger, Hiller, Ferrum, TEMA, HEINKEL, Gruppo Pieralisi, SPX Flow, and HAUS Centrifuge Technologies.These companies are focusing on strategies such as product launches, expansions, agreements, collaborations, and acquisitions to increase their offerings in the market and cater to the increasing demand for industrial centrifuges.