According to latest research findings, Screw Conveyor market is expected to record 6%-8% CAGR from 2021 to 2031. Demand for the product will witness higher growth recovery in short-term, with optimistic growth outlook in the long-run. The increasing demand from the end use industry across the globe is the primary force to the market growth of screw conveyor. Also, technological advancement in the product by the leading manufacturers will upsurge the demand for screw conveyor and extend its opportunities in near future.
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What is Driving Demand for Screw Conveyor?
In various industries such as agriculture, food & beverage industry, construction industry the product is widely use in bulk material handling which helps in moving and distribution of the liquid and rough material. Product’s design simplicity and its low maintenance are the major factors that are gaining the attention of many end users.
With rising living standards, consumption of cereal, grains, and fruits is also growing which is directly affecting the increasing demand for product mixing machinery in the agricultural industry. This resulted in propelling the sales of product and which is expected to push the global market over the near future.
Manufactures are focusing on new product designs and technologically advanced products with exceptional characteristics such as feasible and easy handling which helps to cater the customer’s requirement and to increase the customer base.
Horizontal Screw Conveyor Holds Major Share of the Market
According to the study, it is estimated that the horizontal installation of screw conveyor hold the major market share. Horizontal type is the most broadly used product type. Horizontal installation are available in different configurations and sizes which is used to convey bulk material from one process to another process.
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Agriculture and Food & Beverages Segment to Lead the Market
As the product has the exceptional characteristics which include better flexibility, ease of material handling and energy efficiency which increases its applications in agricultural activities such as harvesting, and growing and processing of agriculture produces such as corn, rice, wheat, maize, etc. This flexible characteristics of screw conveyor is expected to propel the global market over the forecast period.
Increasing population in China and India is leading to increasing demand for food and beverages which is fueling the screw conveyor demand over the forecast period. Screw conveyors provide advantage of minimizing the waste during the material handling and while mixing the raw materials and convey that material to another process in manufacturing industry.
Asia Pacific Demand Scenario
On account of increasing applications of screw conveyor in agriculture sector Asia pacific is expected to hold the major share in the market coupled with growing government investments. Owing to the rising agricultural sectors in countries such as China and India is estimated to account for a significant share over the forecast period.
North America Market Growth Outlook
U.S. and Canada are expected to remain leader over the forecast period for Screw Conveyors market. US is one of the chief markets for the product globally. High installment of the product in construction and manufacturing sector in U.S. and Canada is expected to boost growth for the market.
Europe Market Growth Potential
Growing opportunities from the pharmaceutical and automation industry resulted in the rapid expansion of warehouses across the eastern & western Europe. In warehouse there is need for various material handling activities which is fueling the demand of the material handling equipment. This is expected to account for the considerable share in the market.
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Who are the Key Manufacturers and Suppliers?
Some of the leading manufacturers and suppliers of the product include
- Vac-U-Max, Inc.
- Continental AG
- FMC Technologies
- Anders Pedersen
- Industrial Screw Conveyors, Inc
- Maskin- & Specialfabrik
- Shanghai Zenith Company
- Conveyor Engineering and Manufacturing
- DEMECH India
- SPIRAC Engineering
- KWS Manufacturing Company Ltd.
- Martin Sprocket & Gear, Inc.
- PST AB
- Thomas and Muller Systems
- FMC Technologies
- Flexicon Corporation
Manufacturers are upgrading the technology of the product with outstanding features which include informal handling, energy efficiency and better tractability.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.