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.
MarketsandMarkets forecasts the industrial centrifuges market is projected to reach USD 11.06 billion by 2022 from USD 8.69 billion in 2017, at a CAGR of 4.9% during the forecast period.
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Filtering centrifuges segment is expected to grow at the highest growth rate during the forecast period.
On the basis of type, the industrial centrifuges market is segmented into sedimentation centrifuges and filtering centrifuges. The filtering centrifuges segment is expected to register the highest CAGR over the forecast period. Factors such as their efficiency in continuous operations and processing feed slurries with high solid concentration, coupled with their increasing application in the food processing industry, are expected to drive the market for filtering centrifuges.
Vertical centrifuges segment to record the highest CAGR during the forecast period.
Based on design, industrial centrifuges can be broadly classified into vertical and horizontal centrifuges. In 2017, the vertical centrifuges segment is expected to command the higher growth rate during the forecast period. Growth in this segment can be attributed to factors such as the ability of these centrifuges to attain high speeds and high efficiency of separation.
North America to account for the largest market size during the forecast period.
In 2017, 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 standards of living.
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Leading Companies
Andritz AG (Austria), Alfa Laval Corporate AB (Sweden), GEA Group AG (Germany), Mitsubishi Kakoki Kaisha, Ltd. (Japan), Thomas Broadbent & Sons (UK), FLSmidth & Co. A/S (Denmark), Schlumberger Limited (US), Hiller Separation & Process (Germany), Ferrum AG (Switzerland), TEMA Systems, Inc. (US), HEINKEL Drying & Separation Group (Germany), Gruppo Pieralisi – MAIP S.p.A. (Italy), SPX Flow Inc. (US), and HAUS Centrifuge Technologies (Turkey)
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