Global Screw Pumps Market Set to Reach $3.72 Billion by 2028, Driven by Booming Oil and Gas Industry and Continuous Innovation
Global Screw Pumps Market
Dublin, Nov. 02, 2023 (GLOBE NEWSWIRE) — The “Screw Pumps Market by Screw Configuration, Max. Pressure, Distribution Channel, End Use, and Region 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global screw pumps market has achieved significant milestones, reaching a market size of US$ 2.71 billion in 2022. The market is poised for further expansion, forecasted to grow to US$ 3.72 billion by 2028, exhibiting a commendable compound annual growth rate (CAGR) of 5.30% during the period from 2023 to 2028.
Key factors propelling this growth include the substantial expansion of the oil and gas industry, continuous product innovations, and extensive research and development (R&D) activities.
Screw pumps are positive displacement pumps that employ rotating screws to efficiently transport fluids. These pumps consist of various components, including a casing, screw, seal, motor adapter drive shaft, and bearings, often crafted from metal alloys such as cast iron, stainless steel, or bronze. Screw pumps are particularly well-suited for pumping high-pressure viscous fluids in offshore and marine installations. They find extensive application in fuel injection, oil burners, and wastewater treatment plants. These pumps are known for their ease of maintenance and operation, versatility in handling various flow rates, pressures, liquid types, viscosities, and self-priming capabilities. Consequently, screw pumps play a pivotal role in industries such as oil and gas, power generation, water treatment, chemicals, and food and beverage (F&B).
Screw Pumps Market Trends:
Several trends are shaping the global screw pumps market:
- Oil and Gas Industry Growth: The substantial expansion of the global oil and gas industry is driving the demand for screw pumps. These pumps provide continuous fluid flow, making them crucial for various applications, including crude oil transfer, pipeline boosting, and drilling mud transfer.
- Refinery Applications: Screw pumps are widely adopted in refineries to transfer solids between tanks or vessels without altering valve configurations, contributing to market growth.
- Advanced Materials: The introduction of screw pumps manufactured using advanced materials resistant to wear and corrosion enhances longevity and reliability, stimulating market growth.
- Wastewater Treatment: Screw pumps are increasingly used in wastewater treatment for precise chemical dosing and the pumping of activated sludge or stormwater, driving market expansion.
- Eccentric Screw Pumps: The launch of eccentric screw pumps designed for shear-sensitive materials and precise flow control is positively impacting market growth.
- Energy Efficiency: Growing demand for energy-efficient pumps, coupled with their widespread adoption in the F & B industry, is driving market growth.
- Government Initiatives: Various government initiatives aimed at reducing emissions and enhancing energy efficiency are contributing to market expansion.
Key Market Segmentation:
The market analysis includes key segments:
- Screw Configuration:
- Single Screw/Eccentric Screw/Progressive Cavity Pumps
- Twin Screw Pumps
- Three Screw Pumps
- Multiple Screw Pumps (Single Screw/Eccentric Screw/Progressive Cavity Pumps represented the largest segment)
- Max. Pressure:
- Up To 16 Bar
- 17-35 Bar
- 36-50 Bar
- 50-80 Bar
- Above 80 Bar (Above 80 Bar represented the largest segment)
- Distribution Channel:
- Direct
- Indirect (Indirect represented the largest segment)
- End Use:
- Oil and Gas
- Power
- Water Treatment
- Chemicals
- Food and Beverages
- Others (Oil and Gas represented the largest segment)
Regional Insights:
The market analysis covers major regional markets:
- North America: (United States and Canada)
- North America leads the screw pumps market, driven by the demand for data privacy and security, the increase in cyberattacks, and supportive government initiatives.
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, and others)
- Europe sees growth due to data security needs and regulatory compliance.
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, and others)
- Asia Pacific experiences significant growth owing to the adoption of digital payment technologies and cybersecurity concerns.
- Latin America: (Brazil, Mexico, and others)
- Latin America witnesses expansion driven by increasing awareness of data security and digital payment growth.
- Middle East and Africa
Competitive Landscape:
The report offers a comprehensive analysis of the competitive landscape in the global screw pumps market. It includes market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant. Detailed profiles of major companies, such as Alfa Laval AB, CIRCOR International Inc., Desmi A/S, Dover Corporation, Erich Netzsch GmbH & Co. Holding KG, Flowserve Corporation, FLSmidth & Co. A/S, ITT Inc., Iwaki Co. Ltd., KRAL GmbH, Roto Pumps Limited, SPX Flow Inc., and others, are provided.
Key Questions Answered in This Report:
- How has the global screw pumps market performed, and what is the outlook for the coming years?
- What are the drivers, restraints, and opportunities in the global screw pumps market?
- What is the impact of each driver, restraint, and opportunity on the global screw pumps market?
- What are the key regional markets and the most attractive countries for screw pumps?
- Which screw configuration holds the most promise in the screw pumps market?
- What is the most attractive max. pressure segment in the screw pumps market?
- Which distribution channel is the most attractive in the screw pumps market?
- What are the major end-use segments driving the screw pumps market?
- What is the competitive landscape of the global screw pumps market, and who are the key players?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 139 |
| Forecast Period | 2022 – 2028 |
| Estimated Market Value (USD) in 2022 | $2.71 Billion |
| Forecasted Market Value (USD) by 2028 | $3.72 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/du3j1e
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