Growth Of Screw Pumps Market 2016 – 2024
The rising demand for efficient technology to convey fluids within various industries is anticipated to drive the growth of the global pumps market, states Transparency Market Research in a new report. The report is titled, “Screw Pumps Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.” The report provides an in-depth analysis of the various segments, regions, and companies in the global screw pumps market.
It also presents a comprehensive overview of the strategies, products, shares, and position of the vendors operating in the global screw pumps market along with the factors driving and restraining the growth of the market. According to the report, the application of screw pumps is likely to rise in several industries due to the large scale availability of different screw pumps for handling fluids with different characteristics.
The report states that industries such as chemicals, oil and gas, food and beverages, and water and wastewater treatment are the key end users of screw pumps. According to the study, there has been a significant rise in the growth prospects for manufacturers in the global screw pumps market owing to the progress in the food and beverage, chemical processing, and oil and gas industries. Due to the development of new and advanced screw pump equipment, it is expected that the deployment of multiple axis screw pump technologies will expand across numerous end-use industries for various applications.
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The global market for screw pumps is projected to exhibit outstanding growth owing to the growing need for modernizing the processing infrastructure for wastewater and water treatment plants. The large scale deployment of advanced multiple screw pumps in hydraulic fracturing is another factor that is anticipated to drive the growth of the global screw pumps market in the coming years.
Recent infrastructural development in emerging nations along with growth in the industrial sector is likely to drive the need for food delivery systems and sanitation in these regions leading to a rise in the demand for screw pumps. Moreover, burgeoning oil and gas exploration activities in developing as well as developed regions are anticipated to contribute to the growth of the global screw pumps market. The report also states that the oil and gas sector is projected to account for the leading share in the global screw pumps market until 2024.
The report segments the global screw pumps market on the basis of screw configuration, bearing design, suction mechanism, region, and other configurations. Geographically, the global screw pumps market is classified into Eastern and Western Europe, Asia Pacific, North America, and Rest of the World. Asia Pacific is expected to emerge dominant in terms of consumption owing to the robust industrialization in the region. Some of the influential players in the global screw pumps market are Roto Pumps Ltd., Albany Engineering Limited, SPX Corporation, Settima Meccanica S.R.L., Flowserve Corporation, PSG Dover, and Colfax Corporation among others.
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