Global Screw Pumps Market is projected to reach USD 4.6 billion by 2023 | Techsci Research
Global screw pumps market stood at $ 3 billion in 2017 and is projected to reach $ 4.6 billion by 2023. Anticipated increase in screw pump sales can be attributed to robust growth in water treatment industry and rising oil & gas exploration activities.
Global screw pumps market stood at $ 3 billion in 2017 and is projected to reach $ 4.6 billion by 2023. Anticipated increase in screw pump sales can be attributed to robust growth in water treatment industry and rising oil & gas exploration activities.
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I n d u s t r y B r i e f<br />
Growing Au<strong>to</strong>mobile Industry <strong>to</strong> Aid Growth of <strong>Global</strong> <strong>Screw</strong> <strong>Pumps</strong> <strong>Market</strong>:<br />
TechSci <strong>Research</strong><br />
According <strong>to</strong> TechSci <strong>Research</strong> report, “<strong>Global</strong> <strong>Screw</strong> Water Pump <strong>Market</strong> By Type, By End Use, By Region,<br />
Competition, Forecast & Opportunities, 2013-<strong>2023</strong>’’, the global screw pump market <strong>is</strong> forecast <strong>to</strong> <strong>reach</strong> $ <strong>4.6</strong> <strong>billion</strong><br />
<strong>by</strong> <strong>2023</strong>, predominantly owing <strong>to</strong> r<strong>is</strong>ing concerns regarding hazardous effects of wastewater. R<strong>is</strong>ing water pollution<br />
has resulted in stringent regulations for wastewater and effluent d<strong>is</strong>charge, which has further resulted in increasing<br />
number of sewage and wastewater treatment facilities across the globe, especially in developing economies such<br />
as India, Brazil, Malaysia, etc. Thus, expanding water treatment facilities <strong>is</strong> pushing demand for screw pumps,<br />
globally. Moreover, r<strong>is</strong>k of water scarcity <strong>is</strong> growing at an alarming rate across the globe and it <strong>is</strong> estimated that <strong>by</strong><br />
2030, half of the global population would face water scarcity <strong>is</strong>sues, there<strong>by</strong> creating pressure on ex<strong>is</strong>ting water<br />
network <strong>to</strong> redesign efficient water management systems, which require water pumping at several points.<br />
Additionally, robust growth in au<strong>to</strong>mobile industry across the globe <strong>is</strong> driving demand for petrol and diesel, which<br />
<strong>is</strong> further resulting in increasing demand for screw pumps for drilling activities in oil & gas industry<br />
Oil & gas and power industries are the leading end use industries in global screw pumps market, and they are likely<br />
<strong>to</strong> maintain their position during forecast period on account of increasing investments in these industries from<br />
public as well as private entities. Among types, progressive cavity pumps (PCP) account for the largest share in<br />
global screw pumps market owing <strong>to</strong> their ability of handling wastewater and slurries efficiently and at economical<br />
rate as compared <strong>to</strong> other types of screw pumps. Asia-Pacific <strong>is</strong> the largest demand generating region for screw<br />
pumps, globally, on account of r<strong>is</strong>ig industrialization in countries like China, Japan and India. Moreover, high skilled<br />
workforce, availability of raw material and easy regulation and policies are pushing screw pumps companies <strong>to</strong> shift<br />
production base from North America, European nations <strong>to</strong> Asia-Pacific<br />
“Increasing infrastructure activities, especially in emerging economies, such as smart city m<strong>is</strong>sion, industrial<br />
complexes and seaports are boosting demand for screw pumps <strong>to</strong> handle wastewater and slurries. Additionally,<br />
r<strong>is</strong>ing consumer spending and working population across the world <strong>is</strong> augmenting demand for packaged food,<br />
which <strong>is</strong> further resulting in significant growth in food & beverage industry, there<strong>by</strong> driving growth in global screw<br />
pumps market as well.” said Mr. Karan Chechi, <strong>Research</strong> Direc<strong>to</strong>r with TechSci <strong>Research</strong>, a research based global<br />
management consulting firm<br />
© TechSci <strong>Research</strong><br />
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