BURNABY, Canada, May 21, 2015 /PRNewswire/ --
Rising infrastructure developments and increase in oil exploration activities is driving growth in global screw pumps market
According to recently published report by TechSci Research, "Global Screw Pumps Market Forecast & Opportunities, 2020", the global market for screw pumps is projected to grow at a CAGR of more than 8% during 2015-20. Growing demand from various end user industries such as oil & gas exploration, food & beverage, pharmaceutical and water & wastewater treatment is projected to drive the global market for screw pumps in the coming years. Developing countries in APAC such as China and India are witnessing strong demand for screw pumps due to growing water & wastewater treatment, oil & gas, chemical and power sectors. Moreover, upsurge in infrastructural development projects across process industries, rising living standards and rapid industrialization in APAC are increasing the need for better sanitation, infrastructure and food delivery systems in developing economies, consequently, boosting the demand for screw pumps in the region.
Discovery of vast shale gas reserves across EMEA is one of the key factors propelling demand for screw pumps in the region. Rising investments in power generation using alternate sources of energy and water & wastewater industries are also boosting demand for screw pumps in EMEA. The global screw pumps market is also growing on account of their extensive use in food & beverage, chemical and pharmaceutical industries for transferring fluids and solids as they are easy to clean and incur low maintenance costs.
"Rising application of screw pumps in the industrial segment is driving global screw pumps market. Oil & gas, water & wastewater, power, chemicals and food & beverage continue to be the major end users for screw pumps, globally. Increase in offshore and onshore oil exploration and extraction activities is further augmenting demand for screw pumps. Increasing urbanization and growing awareness regarding benefits of safe and clean water is increasing the need for safe and efficient water supply and water treatment, which is positively impacting the global screw pumps market.", said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
"Global Screw Pumps Market Forecast & Opportunities, 2020" has evaluated the future growth potential of global screw pumps market and provides statistics and information on market structure, industry behavior and trends. The report includes screw pumps market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with major drivers, challenges and opportunities in the global screw pumps market.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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SOURCE TechSci Research