Growing Automobile Industry to Aid Growth of Global Screw Pumps Market: TechSci Research

Increasing FDI investments in water treatment coupled with growing oil & gas exploration activities to drive global screw pumps market through 2023

According to TechSci Research report, “Global Screw Water Pump Market By Type, By End Use, By Region, Competition, Forecast & Opportunities, 2013-2023’’, the global screw pump market is forecast to reach $ 4.6 billion by 2023, predominantly owing to rising concerns regarding hazardous effects of wastewater. Rising water pollution has resulted in stringent regulations for wastewater and effluent discharge, which has further resulted in increasing number of sewage and wastewater treatment facilities across the globe, especially in developing economies such as India, Brazil, Malaysia, etc. Thus, expanding water treatment facilities is pushing demand for screw pumps, globally. Moreover, risk of water scarcity is growing at an alarming rate across the globe and it is estimated that by 2030, half of the global population would face water scarcity issues, thereby creating pressure on existing water network to redesign efficient water management systems, which require water pumping at several points. Additionally, robust growth in automobile industry across the globe is driving demand for petrol and diesel, which is further resulting in increasing demand for screw pumps for drilling activities in oil & gas industry. 

Oil & gas and power industries are the leading end use industries in global screw pumps market, and they are likely to maintain their position during forecast period on account of increasing investments in these industries from public as well as private entities. Among types, progressive cavity pumps (PCP) account for the largest share in global screw pumps market owing to their ability of handling wastewater and slurries efficiently and at economical rate as compared to other types of screw pumps. Asia-Pacific is the largest demand generating region for screw pumps, globally, on account of risig industrialization in countries like China, Japan and India. Moreover, high skilled workforce, availability of raw material and easy regulation and policies are pushing screw pumps companies to shift production base from North America, European nations to Asia-Pacific

“Increasing infrastructure activities, especially in emerging economies, such as smart city mission, industrial complexes and seaports are boosting demand for screw pumps to handle wastewater and slurries. Additionally, rising consumer spending and working population across the world is augmenting demand for packaged food, which is further resulting in significant growth in food & beverage industry, thereby driving growth in global screw pumps market as well.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Screw Water Pump Market By Type, By End Use, By Region, Competition, Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of global screw pumps market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global screw pumps market

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