Global Industrial Centrifuges Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.
This Industrial Centrifuges Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.
The global industrial centrifuges market is expected to grow at a CAGR of approximately 4.52% during the forecast period.
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The prominent players in the Global Industrial Centrifuges Market:
MSE Hiller, Andritz AG, Alfa Laval AB, GEA Group AG, Multotec Pty Ltd, Thomas Broadbent & Sons Ltd, Flottweg SE, Ferrum Ltd, HAUS Centrifuge Technologies, and Others.
Key Market Trends: –
Chemical Industry to Dominate the Market
– The centrifuges are used in the chemical sector for chemical processing, which produces raw products, such as acids, salts, oil refinery by-products, polymers, and oil-water-solids.
– The global chemical industry grew by 2.0% in 2019, which was below the 2.7% growth registered in 2018. The slowdown in growth can be attributed to the decline in the demand from the automobile sector. The global automobile sector has been hugely affected by the uncertainty in the future of old model vehicle, as major countries are upgrading the fuel quality to reduce the emissions.
– In Asia, the growth of the chemical industry slowed down to 3.2% in 2019, compared to 3.5% in 2018. The world’s largest chemical market, China, was also affected, registering a growth rate of 3.0%, as compared to 4.7% in 2018. The dampening in the growth rate was due to the stagnant demand from the automotive sector and slower momentum in other end-user industries. China is expected to contribute to around 50% of the chemical demand by 2030 and dampening in the growth is not a favorable sign for the market studied.
– Fertilizer production continues to grow, as food producers struggle to keep pace with the expanding population across the world. Fertilizer production plants require large exhaust systems, as well as the turbomachinery systems, such as large air compressors, nitrogen compressors, and ammonia (NH3) refrigeration systems.
– Countries across the world are witnessing a surge to cut down fertilizer imports bills and are promoting domestic production of fertilizers. Countries across the world, including India and China, have undertaken significant overhaul steps in the fertilizer sector, such as Indias Make in India initiative for the chemical sector. There is a rising trend of re-opening of the closed fertilizer plants and setting up new ones across the world, which is expected to support the growth of the industrial centrifuges market during the forecast period.
– On the other hand, the COVID-19 has severely impacted the chemical industry. Demand destruction has accelerated the chemical industry into an oversupply situation, which was already looming before COVID-19. The automotive, transportation, and consumer products sectors are among the hardest hit end-markets, with demand for chemicals falling by up to 30% in Q1 of 2020.
North America to Dominate the Market
– North America is the largest market, in 2019, owing to the presence of the United States, which has one of the highest demand from processed food industry, pharmaceutical sector, and wastewater treatment industries. Additionally, the demand for electricity is growing at a rapid rate in the United States, on account of surge in population and industrial expansion.
– The United States is one of the largest markets for industrial centrifuges across the world. The presence of a wide range of domestic manufacturing and processing industries, such as oil and gas, mining, food and beverage, pharmaceutical and biotechnology industries has augmented the demand for industrial centrifuges over the past several years.?
– The United States processed food industry is a major participant in the global economy, both in exporting and in foreign direct investment. More than a third of the worlds top 50 food and beverage processing firms are headquartered in the United States.
– Major foreign companies active in the country include Unilever, Groupe Danone, Diageo, Kirin, SABMiller, Cadbury Schweppes, Heineken and Asahi Breweries. Demographic growth and ever-changing tastes and lifestyles offer a wide range of opportunities to European companies willing to enter the United States food processing industry. This, in turn, is likely to create an opportunity for the industrial centrifuge market in food processing application over the coming years.?
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Industrial Centrifuges Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Industrial Centrifuges Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Browse in-depth and report summary TOC on “Industrial Centrifuges Market”:
Finally, the Industrial Centrifuges market report offers a complete and detailed study of Global Industrial Centrifuges market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter’s five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.
Note: – All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.