The size of the European Industrial Centrifuges Market is estimated to worth USD 3.16 billion by 2028 and USD 2.49 billion in 2023, growing at a CAGR of 4.89% during the forecast period.
The industrial centrifuges market in Europe is expected to be driven by a strict government rule on disposing of treated water. The rise in crude oil refining is expected to increase wastewater, the developing wastewater management sector, and technical developments treated using an industrial centrifuge. In the oil and gas business, crude oil, natural gas, and water are separated after production. During the global COVID-19 epidemic, water usage has increased. The industrial centrifuge market for the water and wastewater treatment management system is anticipated to be driven by a rise in the water increase for adequate sanitization. Furthermore, growing demand from the pharmaceutical and biotechnology sectors is expected to boost the Industrial Centrifuges Market's development in this region. The growing need for centrifuges in process industries is driving the Industrial Centrifuges Market. Chemical processing, food processing, metal processing, mining and mineral processing, pharmaceutical and biotechnology industries, and so on are some of these businesses.
The growing demand for sustainable food ingredients and the good transportation infrastructure have aided the market's expansion. As a result, businesses have a tremendous opportunity to invest in this industry. Manufacturers of centrifuges are addressing energy efficiency issues by adopting various techniques in new centrifuges and upgrading existing industrial centrifuges installed in facilities, owing to an increase in demand for more efficient centrifuges and lowering costs, and increasing profitability. In the future, these improvements are expected to generate several opportunities for the European industrial centrifuge market. The market is projected to benefit from the growing need for an energy-efficient industrial centrifuge. Investment expenses for energy-efficient industrial centrifuges are often low in comparison to capacity and have a small footprint. The German food industry is one of the country's most important processing businesses.
During the forecast period, the high cost of centrifuges is likely to limit the market growth. Industrial centrifuges are expensive pieces of technology, and the operations that need them are as costly. The market's growth is anticipated to be hampered by the slow replacement of equipment due to its extended life span, volatile crude oil prices, and technological restrictions related to industrial centrifuges. However, the European industrial centrifuge market is likely to be hampered by stiff competition in end-user industries from European nations.
This research report on the European Industrial Centrifuges Market has been segmented and sub-segmented into the following categories:
By Product:
By Operation:
By Design:
By End User:
By Country:
Based on geography, Europe is anticipated to account for the second-largest share of this market and will continue to dominate the market during the coming years. Growing demand for oil, rising shale oil and gas drilling activities, government schemes to manage wastewater, flourishing food-processing industry, technological advancements, and government support for developing innovative centrifugation systems are some of the key factors driving the growth of the market.
In Europe, the German industrial centrifuges market is projected to be the fastest-growing market for industrial centrifuges in the area since it has one of the major steel markets in the European Union and one of the top pharmaceutical industries in Europe. Germany is anticipated to grow at the fastest pace between 2023 and 2028 as a key industrialist focused on developing food and beverage items utilizing industrial centrifuges and expanding their applications. Growing oil and gas exploration activities, constructing new power plants to meet the rising energy demands of emerging nations, and upgrading existing power plants to make them more efficient and dependable are all projected to propel this market forward.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the European Industrial Centrifuges market are Thomas Broadbent & Sons, Andritz AG, Alfa Laval AB, GEA Westfalia Separator Group GmbH, FLSmidth & Co. A/S MI Swaco, Flottweg Separation Technology, Hiller GmbH, Ferrum AG, Pieralisi Group and TEMA Systems, Inc.
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