Industrial Centrifuges Market Worth $11.06 billion | Analysis and Opportunities During COVID-19 Pandemic

PUNE, India, 2020-Aug-05 — /EPR Network/ —

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. The objective of the report is to define, describe, and forecast the industrial centrifuges market size based on type, design, mode of operation, end user, and region.

Recent Developments:

• In May 2017, Alfa Laval opened a Food & Water competence center outside of Copenhagen, Denmark
• In July 2015, Alfa Laval Acquired an aftermarket company to widen its presence in a niche market
• In April 2015, Alfa Laval launched the Culturefuge 200

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Industrial Centrifuges Market Dynamics:

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.

Opportunity: Development of Next-Generation Centrifuges;

The pace of technology change is increasing exponentially, and hence most companies understand the need to respond and adapt to the evolving use of technology by their customers. In the industrial centrifuges sector, technological advancements are playing an integral role in the development of next-generation centrifuges. For instance, in February 2013, Iran announced the development of a new generation of centrifuges called the IR-8 centrifuges. These centrifuges enable uranium enrichment at a faster pace and are considered to be 15 times more powerful as compared to the currently used centrifuges. To support such technological advancements, governments in several countries are encouraging research and development in the field of centrifugation technologies.

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North America is expected to account for the largest share of the Industrial Centrifuges 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 Industrial Centrifuges 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.