Technavio analyzes that the Screw Pumps Market is expected to grow at a CAGR of 5.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 922.7 million.There are various factors that contribute to the growth of the market. The global Screw Pumps market is experiencing significant growth due to the surge in manufacturing activities and increasing demand for renewable energy sources. These pumps, which utilize rotating helical screws to transfer fluids, are increasingly being adopted in various industries, including oil and gas, power generation, and water treatment, due to their high efficiency and reliability. As manufacturing sectors expand and the shift towards sustainable energy continues, the market for screw pumps is poised for continued expansion.
In the intricate oil and gas supply chain, screw pumps play a pivotal role as they are extensively utilized in various applications. Notably, the oil and gas industry is the primary consumer of screw pumps, which are indispensable for drilling fluid circulation, hydraulic fracturing, deep-sea pumping, and cementing operations in upstream processes. Furthermore, these pumps are also employed in downstream refineries. Given the depletion of natural resources, the industry is compelled to extract resources from increasingly deeper depths. Consequently, raw materials are extracted, processed, refined, stored, and transported globally. Screw pumps, characterized by their rotating screws, positive displacement mechanism, and robust design, are essential for safely transferring diverse fluids, including high-viscosity substances like crude oil, throughout this extensive value chain.
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Screw Pumps Market Segmentation
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The Screw Pumps Market encompasses the sale of Screw Pumps, a type of Positive Displacement Pump, which utilizes rotating screws to transfer non-soluble fluids, including chemicals, from the intake to the outlet side. These pumps offer self-priming capabilities, handling high flows and pressures, and are known for their high-speed operation and low internal velocities. They exhibit excellent water vapor tolerance, particle, and dust tolerance. The pumps' design includes a casing, seal, motor adapter, drive shaft, bearings, and components made from metal alloys such as cast iron, stainless steel, and bronze. The pumps' ability to handle fluid solids and liquids, as well as their axial movement and turbulence elimination capabilities, make them suitable for pumping viscous fluids and dealing with high pressure differences. In contrast, Centrifugal Pumps are not Positive Displacement Pumps and function differently, focusing on creating a centrifugal force to move fluids.
The Screw Pumps Market, a segment of the larger Industrial Machinery and Supplies and Components Market, caters to the production of Non-soluble Chemical Care Pumps. These pumps are renowned for their ability to handle Flows and pressures, Self-priming capabilities, and Suction characteristics. With High-speed capability, Low internal velocities, and High pumping speed, they exhibit superior Water vapor tolerance and Particles, dust tolerance. As a Positive-displacement (PD) pump, they effectively manage Fluid solids and Liquids. The Industrial Machinery and Supplies and Components Market, encompassing manufacturers of machinery and components for industries, is projected to expand due to increasing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing countries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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