$11.06 Billion Industrial Centrifuges Market by Type, Operation, Design, End User, and Region - Global Forecast to 2022

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. However, the high cost of centrifuges and slow replacement of equipment due to longer life span is expected to restrain market growth 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. However, the high cost of centrifuges and slow replacement of equipment due to longer life span is expected to restrain market growth during the forecast period.

Based on type, the Industrial centrifuge market is segmented into sedimentation centrifuges and filtering centrifuges. In 2017, the filtering centrifuges segment is expected to witness the highest CAGR during the forecast period. Some of the major factors like the high separation efficiency of these equipment in continuous operations and processing of feed slurries with high solid concentration, and their increasing application in the chemicals, pharmaceuticals and biotechnology, and food processing industry are expected to drive the growth of this segment.

In 2017, the power plants segment is expected to account for the largest share of the industrial centrifuge market. Large number of oil and gas exploration activities owing to high energy needs globally, establishment of new power plants to cater to the rising energy needs in developing countries, and upgrading of existing power plants to make them more efficient and reliable are some of the factors responsible for the large share of this market.

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 standard of living.

Market Dynamics

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Companies Mentioned

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