[248 Pages Report] MarketsandMarkets forecasts the Industrial Centrifuges Market is projected to reach USD 11.06 billion, at a CAGR of 4.9% during the forecast period.
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.
Driver: Growing Need for Wastewater Management Solutions
Wastewater contains a number of pollutants and contaminants that can cause health and environmental problems and can have economic and financial impacts if released into the environment without proper treatment. Wastewater treatment forms one of the major application areas for industrial centrifuges. For instance, centrifuges are used in wastewater treatment for thickening primary sludge and dewatering sludge to create sludge solids. Factors such as growing environmental pollution levels, increasing population, and rapid urbanization and industrialization have increased the generation of industrial wastewater. Moreover, owing to the increasing global demand for potable water, the focus on effective wastewater treatment has increased significantly across the globe. As a result, there is a subsequent growth in government spending on water utilities and wastewater treatment, globally.
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Sedimentation centrifuges segment to dominate the market in 2017
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 wastewater treatment plants segment is projected to register the highest CAGR
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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North America is expected to account for the largest share of the market. The large market share of the North American market is attributed to the factors such as 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.
Europe is expected to hold the second-largest share in this market. Factors such as presence of a large number of centrifuge manufacturing companies; the growing food processing industry, especially olive oil industry; rising demand for oil and natural gas; and growing demand from sewage treatment plants are expected to drive the growth of the market in this region.
The market is highly fragmented with several big and small players. Prominent players in the 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.