Industrial Centrifuges Market Is Poised To Grow At A CAGR Of 4.9% During The Forecast Period Of 2022-2031

Shibuya-ku, Tokyo, Japan, Japan, May 25, 2022, 02:34 /Comserve / -- The global Industrial centrifuges market is projected to register a CAGR of 4.9% from 2022 to 2031

The global industrial centrifuges market is projected to reach USD 11.06 billion by 2031 from USD 8.69 billion in 2022, at a CAGR of 4.9%. 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. However, the high cost of centrifuges and slow replacement of equipment due to longer life span is expected to restrain market growth during the forecast period.

“The filtering centrifuges segment is expected register the highest CAGR during the forecast period”

Based on type, the Industrial centrifuge market is segmented into sedimentation centrifuges and filtering centrifuges. In 2022, the filtering centrifuges segment is expected to witness the highest CAGR during the forecast period. Some of the major factors like the high separation efficiency of these equipment in continuous operations and processing of feed slurries with high solid concentration, and their increasing application in the chemicals, pharmaceuticals and biotechnology, and food processing industry are expected to drive the growth of this segment.

“The power industry segment to dominate the global industrial centrifuges market in 2022”

In 2022, the power plants segment is expected to account for the largest share of the industrial centrifuge market. Large number of oil and gas exploration activities owing to high energy needs globally, establishment of new power plants to cater to the rising energy needs in developing countries, and upgrading of existing power plants to make them more efficient and reliable are some of the factors responsible for the large share of this market.

“North America to dominate the market and Asia to witness high growth during the forecast period”

In 2022, 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 industrial centrifuges market in North America.

The market in Asia, on the other hand, is projected to register the highest CAGR during the forecast period.

Emerging Asian economies such as India and China offer lucrative growth opportunities for market players, primarily due to the rapid urbanization and industrialization, improving healthcare infrastructure, rapid economic growth, and rising standard of living.

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The primary interviews conducted for this report can be categorized as follows:

• By Company Type: Tier 1 – 32%; Tier 2 - 44%; Tier 3 - 24%.
• By Designation (Supply Side): C-level- 26%; D-level- 28%; others- 46%.
• By Region: North America–47%; Europe-33%; Asia-13%; RoW-7%.

List of Companies Profiled in the Report

• Andritz
• Alfa Laval
• GEA Group
• Thomas Broadbent
• FLSmidth
• Schlumberger
• Flottweg
• Hiller
• TEMA
• HEINKEL
• Ferrum
• Gruppo Pieralisi
• SPX Flow
• Mitsubishi Kakoki Kaisha
• HAUS Centrifuge Technologies

Research Coverage:

The report provides an overview of the global industrial centrifuge market. It aims at estimating the market size and future growth potential of this market across different segments such as type, mode of operation, design, end user, and region. The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

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Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market by providing them with the closest approximations of the revenue numbers for the overall global industrial centrifuges market and its subsegments. This report will help stakeholders to understand the competitor landscape better and gain insights to position their businesses better and make suitable go-to-market strategies. The report also will help the stakeholders understand the pulse of the market and provide them with information regarding key market drivers, restraints, challenges, and opportunities.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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