Dublin, April 03, 2024 (GLOBE NEWSWIRE) -- The "Global Centrifuge Market by type (Decanters, High-Speed Separators), Drilling and Excavation Activity (Tunnel Boring, HDD, Exploration Drilling), Application (Solids Control, Mud Cleaning, Dewatering, Fluid Clarification), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global centrifuge market is projected to reach USD 580 million by 2028, at a CAGR of 4.5% from USD 466 million in 2023
The expanding global energy demand further accentuates the significance of centrifuges in optimizing processes, especially in drilling and exploration activities. Additionally, ongoing technological advancements, such as automation and enhanced efficiency, contribute to the growing demand for centrifuges as industries prioritize advanced solutions to improve productivity and minimize environmental impact.
The demand for centrifuges is propelled by several key factors in today's industrial landscape. Increasing industrialization, particularly in sectors such as oil and gas, pharmaceuticals, and mining, fuels the need for efficient liquid-solid separation. Heightened environmental consciousness and stringent regulations drive industries to adopt centrifuges for sustainable resource recovery and waste reduction.
Asia Pacific region commands the largest share in the centrifuge market owing to dynamic industrialization, robust growth in oil and gas exploration, and burgeoning activities in pharmaceuticals and biotechnology. The region's increasing energy demand, coupled with stringent environmental regulations, propels the adoption of centrifuges for efficient liquid-solid separation.
Accelerated investments in research and development activities further contribute to the region's dominance in the centrifuge market. As a hub for economic expansion and technological advancements, the Asia Pacific region is strategically positioned, making it a focal point for centrifuge applications across various industries and solidifying its leadership in shaping the trajectory of the global centrifuge market.
The centrifuge market comprises major players such as Alfa Laval (Sweden), GEA Group AG (Germany), Andritz (Austria), FLSmidth (Denmark), Schlumberger Limited (US), Flottweg SE (Germany), SPX Flow, Inc. (US), Mitsubishi Kakoki Kaisha, Ltd. (Japan), Ferrum Ltd. (Switzerland), Siebtechnik Tema GmbH (Germany), and others.
Decanters type accounted for the largest share in type segment of centrifuge market in terms of value
The decanters type holds the largest share in the type segment of centrifuge market due to its exceptional properties. Decanter centrifuges dominate the centrifuge market's type segment due to their unmatched versatility and efficiency across diverse industries. With a horizontal design, decanters ensure continuous and effective separation of solids and liquids, making them indispensable in applications such as wastewater treatment, food processing, and chemicals.
Their high-throughput capabilities, coupled with low energy consumption and efficient dewatering, position them as the preferred choice. Decanter centrifuges meet the increasing demand for cost-effective, automated, and reliable separation solutions, aligning with the market's inclination towards advanced technologies. Their market leadership underscores the pivotal role they play in addressing the evolving needs of modern industries, contributing significantly to their widespread adoption and dominance in the type segment.
Exploration drilling accounted for the largest share in drilling and excavation activity segment of centrifuge market in terms of value
The exploration drilling activity commands the largest share in the centrifuge market due to the global surge in exploration activities for new energy sources. The efficient separation of drilling mud and cuttings is paramount in these operations, and centrifuges play a crucial role in optimizing the extraction process.
By recovering valuable drilling fluids and ensuring compliance with environmental regulations, exploration drilling benefits significantly from the application of centrifuge technology. As the global demand for energy continues to rise, industries prioritize exploration drilling, thus driving the demand for centrifuges and solidifying the segment's dominance in the centrifuge market.
Solids control accounted for the largest share in the application segment of centrifuge market in terms of value
The solids control application commands the largest share in the centrifuge market due to its pivotal role in optimizing drilling operations, notably in the oil and gas industry. The demand for efficient separation of drilling mud and cuttings, essential for recovering valuable drilling fluids and reducing waste disposal costs, propels the adoption of solids control applications.
In the context of escalating global energy demand and heightened environmental awareness, industries prioritize the implementation of solids control to enhance drilling performance and adhere to stringent regulations. The pivotal role that solids control plays in sustainable and cost-effective resource extraction positions it as the leading application segment in the centrifuge market, reflecting industry priorities and driving market growth.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the centrifuge market offered by top players in the global centrifuge market.
- Analysis of drivers: (Increasing demand for centrifuges in process industries, rising need for wastewater management solutions, growing oil & gas exploration activities, rise in technological advancements), restraints (complex operation and maintenance procedures, high energy consumption may restrain the market growth, fluctuations in the oil prices may restrain the market growth), opportunities (growing demand for centrifuges in developing countries, growing concerns about environmental sustainability and stringent regulations regarding wastewater treatment, investment in sustainable materials), and challenges (high initial costs associated with acquiring centrifuge systems, intense competition among manufacturers) influencing the growth of centrifuge market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the centrifuge market.
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for centrifuge market across regions.
- Market Capacity: Production capacities of companies producing centrifuge are provided wherever available with upcoming capacities for the centrifuge market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the centrifuge market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 201 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $466 Million |
| Forecasted Market Value (USD) by 2028 | $580 Million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
Companies Featured
- Alfa Laval
- Gea Group AG
- Andritz
- Flsmidth
- Schlumberger Limited
- Flottweg SE
- Spx Flow, Inc.
- Mitsubishi Kakoki Kaisha, Ltd.
- Ferrum Ltd.
- Siebtechnik Tema GmbH
- Thomas Broadbent & Sons Ltd
- Dedert Corporation
- Heinkel Process Technology GmbH
- Pieralisi Maip Spa
- Haus Centrifuge Technologies
- Comi Polaris Systems
- US Centrifuge Systems
- B&P Littleford
- Pneumatic Scale Angelus
- Elgin Separation Solutions
- Hebei Gn Solids Control Co, Ltd.
- Multotec
- Centrimax International
- Ace Industries (India) Pvt. Ltd.
- The Western States Machine Company
For more information about this report visit https://www.researchandmarkets.com/r/5gsjgi
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