Screw Pumps Revolutionize Fluid Transport in Key Industries, with a CAGR of 5.30% Projected Between 2023 to 2028
Screw Pumps Revolutionize Fluid Transport in Key Industries, with a ... PR Newswire
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DUBLIN, Nov. 6, 2023 /PRNewswire/ — “Screw Pumps Market by Screw Configuration, Max. Pressure, Distribution Channel, End Use, and Region 2023-2028” report
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 Overview
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:
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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.
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Refinery Applications:
Screw pumps are widely adopted in refineries to transfer solids between tanks or vessels without altering valve configurations, contributing to market growth.
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Advanced Materials:
The introduction of screw pumps manufactured using advanced materials resistant to wear and corrosion enhances longevity and reliability, stimulating market growth.
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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.
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Eccentric Screw Pumps:
The launch of eccentric screw pumps designed for shear-sensitive materials and precise flow control is positively impacting market growth.
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Energy Efficiency:
Growing demand for energy-efficient pumps, coupled with their widespread adoption in the F & B industry, is driving market growth.
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Government Initiatives:
Various government initiatives aimed at reducing emissions and enhancing energy efficiency are contributing to market expansion.
Key Market Segmentation:
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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)
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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)
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Distribution Channel:
- Direct
- Indirect (Indirect represented the largest segment)
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End Use:
- Oil and Gas
- Power
- Water Treatment
- Chemicals
- Food and Beverages
- Others (Oil and Gas represented the largest segment)
Regional Insights:
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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.
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Europe:
(Germany, France, United Kingdom, Italy, Spain, Russia, and others)
- Europe sees growth due to data security needs and regulatory compliance.
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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.
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Latin America:
(Brazil, Mexico, and others)
- Latin America witnesses expansion driven by increasing awareness of data security and digital payment growth.
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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:
SDGs, Targets, and Indicators Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 12: Responsible Consumption and Production
- SDG 13: Climate Action
- SDG 14: Life Below Water
- SDG 15: Life on Land
The article discusses the global screw pumps market, which is connected to various sustainable development goals. The use of screw pumps in industries such as oil and gas, power generation, water treatment, chemicals, and food and beverage aligns with SDG 7 (Affordable and Clean Energy), SDG 9 (Industry, Innovation, and Infrastructure), SDG 12 (Responsible Consumption and Production), SDG 13 (Climate Action), SDG 14 (Life Below Water), and SDG 15 (Life on Land).
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 7.2: Increase substantially the share of renewable energy in the global energy mix.
- Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable.
- Target 12.2: Achieve sustainable management and efficient use of natural resources.
- Target 13.2: Integrate climate change measures into national policies, strategies, and planning.
- Target 14.2: Sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts.
- Target 15.1: Ensure the conservation, restoration, and sustainable use of terrestrial and inland freshwater ecosystems.
The article’s content indicates that the use of screw pumps contributes to targets related to renewable energy, sustainable infrastructure, efficient resource management, climate change mitigation, marine and coastal ecosystem protection, and terrestrial ecosystem conservation.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
Yes, the article mentions indicators that can be used to measure progress towards the identified targets. These indicators include:
- Market size and growth rate of the screw pumps market (indicator for target 9.4)
- Adoption of advanced materials resistant to wear and corrosion (indicator for target 12.2)
- Increase in the use of screw pumps for renewable energy applications (indicator for target 7.2)
- Government initiatives aimed at reducing emissions and enhancing energy efficiency (indicator for target 13.2)
- Expansion of screw pump applications in wastewater treatment and precise chemical dosing (indicator for target 14.2)
- Conservation and sustainable use of water resources through screw pump applications (indicator for target 15.1)
These indicators provide measurable data to assess progress towards the identified targets.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | Target 7.2: Increase substantially the share of renewable energy in the global energy mix. | Market size and growth rate of screw pumps for renewable energy applications. |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable. | Market size and growth rate of the screw pumps market as an indicator of sustainable infrastructure development. |
| SDG 12: Responsible Consumption and Production | Target 12.2: Achieve sustainable management and efficient use of natural resources. | Adoption of advanced materials resistant to wear and corrosion in screw pump manufacturing. |
| SDG 13: Climate Action | Target 13.2: Integrate climate change measures into national policies, strategies, and planning. | Government initiatives aimed at reducing emissions and enhancing energy efficiency in screw pump applications. |
| SDG 14: Life Below Water | Target 14.2: Sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts. | Expansion of screw pump applications in wastewater treatment and precise chemical dosing to protect marine ecosystems. |
| SDG 15: Life on Land | Target 15.1: Ensure the conservation, restoration, and sustainable use of terrestrial and inland freshwater ecosystems. | Conservation and sustainable use of water resources through screw pump applications in various industries. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: prnewswire.com
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