TechSci Research States That the Global Screw Pump Market Will Grow at a CAGR of over 8% until 2020
TechSci Research, a global market research and consulting company, recently published a report titled “Global Screw Pumps Market Forecast & Opportunities, 2020” that states that the global market for screw pumps is projected to grow at a CAGR of more than 8% through 2020.
This increase in demand is attributed to rising infrastructure developments, increased oil exploration activities, demand from the food and beverage sector, pharmaceutical, and water and wastewater treatment projects. Developing countries, such as China and India, are also experiencing an increased demand for screw pumps thanks to growing water and wastewater treatment facilities, oil and gas, as well as the chemical and power sectors. Increased need for better sanitation, infrastructure, and food delivery systems are also driving sales of screw pumps. End users prefer screw pumps for many applications due to their ability to easily transfer fluids and solids while incurring low maintenance costs.
"Rising application of screw pumps in the industrial segment is driving global screw pumps market,” says Mr. Karan Chechi, Research Director with TechSci Research. “Oil and gas, water and wastewater, power, chemicals, and food and beverage continue to be the major end-users of screw pumps, globally. Increase in offshore and onshore oil exploration and extraction activities are 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.”
TechSci Research thoroughly evaluated the global screw pumps market for this report. The “Global Screw Pumps Market Forecast & Opportunities, 2020” provides statistics and information regarding market structure, as well as industry behavior and trends, market projections, and demand forecasting. The report offers cutting-edge market intelligence, analyzes emerging trends, and identifies opportunities within the global screw pumps market.
Source: TechSci Research