Market Trends of North America Industrial Centrifuge Industry
Water and Wastewater Treatment Expected to be the Fastest Growing Market Segment
- An industrial centrifuge is an equipment that separates fluids or particles. Centrifuges use rotational force to generate hundreds or thousands of times the gravity of the Earth. Centrifuges are widely used to treat wastewater from the automotive industry (soluble oils), steel mills, and agri-food sectors. The application also includes the extraction of high-oil-content, sludge-laden suspensions.
- The oil and gas business separates crude oil, natural gas, and water after production. A stringent government regulation governing the disposal of treated water is expected to push the North American industrial centrifuge market. With the increasing crude oil production in the region, the demand for industrial centrifuges is expected to increase during the forecasted period.
- The total crude oil produced in the region in 2021 was 1074.7 million metric tons (MT), which was greater than the 1058.7 MT produced in 2020. The increase in crude oil output is also likely to increase wastewater treatment using industrial centrifuges.
- In March 2023, Biigtigong Nishnaabeg announced the construction of a new raw water intake and treatment facility. This initiative was created in collaboration with Biigtigong Nishnaabeg and Indigenous Services Canada (ISC). When completed, it is expected to provide safe, clean drinking water for homes and non-residential structures such as the administration office, schools, teacherage, health centers, community centers, and nurseries. The new plant is likely to open in November 2024 and cost roughly USD 58 million.
- Hence, owing to the above points, the water and wastewater treatment segment is likely going to be the fastest-growing market for the North American industrial centrifuge market during the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
United States Expected to Dominate the Market
- North America's leading market for industrial centrifuges is expected to be the United States, primarily due to the country's continuously growing energy demand and increasing commercial and industrial activities.
- Moreover, the United States plays a crucial role in the global economy through its processed food industry, which is actively involved in both foreign direct investment and exports. Over 33% of the world's top 50 food and beverage processing companies are based in the United States.
- In 2021, the United States dominated North America's primary energy consumption, accounting for approximately 81.76% of the total energy consumption. This rising share of energy consumption in the country is expected to significantly impact the power and chemical industries, which are the driving forces behind the growth of the industrial centrifuge market in the United States.
- In January 2023, TCL Specialties LLC (TCLS), a subsidiary of Thirumalai Chemicals Limited (TCL), announced that two manufacturing sites in Marshall County, West Virginia, would break ground. One plant produces food ingredients (malic and fumaric acids), while the other produces maleic anhydride. Construction on the site was expected to begin in January 2023, with production set to begin in mid-2024.
- Hence, owing to the above points, the United States is expected to dominate the North American industrial centrifuge market during the forecast period.
Get Analysis on Important Geographic Markets
Download Sample
