Wilmington, Delaware, United States, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - In 2021, the global screw pumps market clocked value of US$ 2.47 Bn. The market is anticipated to rise at a CAGR of 6.1% during the forecast period, from 2022 to 2031. The global screw pumps market is estimated to attain valuation of US$ 4.43 Bn by 2031. Screw pumps provide a number of key advantages, including the capacity to operate in a variety of pressures and flows, high-speed capabilities, self-priming with strong suction attributes, high pumping speeds, low internal velocities, and strong tolerance for water vapor and dust particles. Businesses should expand their sophisticated technology R&D. In order to diversify their sources of income, leading players in the screw pumps market are expected to seize other chances.
The increasing need for handling fluids and slurries is expected to drive the global market for screw pumps. The increasing industrialization and escalating costs of wastewater and water treatment throughout the world are likely to contribute toward expansion of the global screw pump market. The screw pump is in greater demand in the oil and gas sector due to its versatility in handling downstream, midstream, and upstream operations.
The food and beverage business depends heavily on screw pumps. Screw pumps are an essential part of several industries due to cutting-edge technologies and a large variety of available choices, which is expected to fuel future market demand for screw pumps. Screw pumps are in high demand due to the global expansion of these industries.
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Key Findings of Market Report
- The market has also benefited greatly from the increase in demand for modernizing the infrastructure used to process water and wastewater. The market has been growing as a result of rising utilization of rotary screw pumps, high-tech twin screw pumps, and also multiple screw pumps in hydraulic fracturing. This has accounted for a sizable portion of the world's total oil and gas output during the last few years.
- In order to stay competitive in the market, screw pump manufacturers are concentrating on creating product designs with better pressure handling or flow capabilities, reduced leakage emission levels, superior resistance to wear and tear, and excellent corrosion resistance. The use of superior materials in product design is becoming a greater priority for manufacturers so as to widen screw pump applications.
- Widespread application of single screw pumps in various end-use industries is expected to be beneficial for them. Due to their capacity to manage pressure and low internal velocities, these single screw pumps are anticipated to remain a popular product type over the projection period in a broad range of industries.
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Global Screw Pumps Market: Growth Drivers
- The hydraulic fracturing process used in the water and wastewater industries is boosting the use of advanced dry screw vacuum pumps, multiple screw pumps, and spindle screw pumps. Many industries that deal with a variety of fluids on a regular basis employ eccentric screw pumps and twin screw pumps.
- The market for screw pumps is anticipated to be dominated by Asia Pacific during the projected period, trailed by Europe. In countries like India and China there exists robust distribution networks and there are several suppliers & exporters of screw pumps. When analyzing imports and exports of screw pumps in 2020, China had the highest trade value.
Global Screw Pumps Market: Key Players
Some of the key market players are
- NETZSCH Pumps & Systems
- CIRCOR International Inc.
- KRAL GmbH
- Dover Corporation
- Alfa Laval Corporate AB
- Iwaki Co. Ltd.
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Global Screw Pumps Market: Segmentation
Type
- Single screw/eccentric screw/ progressive cavity pumps
- Twin screw pumps
- Three screw pumps
- Multiple screw pumps
Max Pressure
- Up to 16 Bar
- 17-35 Bar
- 36-50 Bar
- 50-80 Bar
- Above 80 bar
End Use
- Oil & Gas
- Power
- Water and Wastewater Treatment
- Food & Beverage
- Chemicals
- Others
Distribution Channel
- Direct
- Indirect
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