Market Synopsis: —
Energy recovery devices are extensively used for seawater reverse osmosis facility as well as brackish water. It facilitates the conservation of energy, which is why it has gained much popularity in the end-user industry domains. The global energy recovery devices, according to this analysis, is anticipated to mark a healthy CAGR across the study period. The market is also anticipated to attain a decent valuation over the next couple of years. The rising need for the conservation of energy is likely to lead the expansion of the energy recovery devices market in the upcoming years.
The demand for these devices in seawater reverse osmosis desalination is on the rise owing to the high consumption of energy during the process. It is also likely to observe an upswing in demand in brackish water. These factors are poised to catalyze the growth rate of the energy recovery devices market on upward trajectory. Also, the rising adoption of next-gen technologies being witnessed in the energy recovery devices market is expected to impact its growth favorably in the years to come.
These devices are widely used in the core industry domains such as oil & gas, construction, etc. The growth of the construction industry is also prognosticated to influence the expansion of the energy recovery devices positively over the next couple of years. Increasing disposable income, in conjunction with rising demand for housing projects, is projected to catalyze market growth on the global front in the years to come. Also, the rising investments by governments in the development of infrastructural facilities are anticipated to develop the energy recovery devices market in the nearby future.
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Global Market Key Manufacturers are covered:
Fluid Equipment Development
On the basis of type, the energy recovery devices market has been segmented into reverse turbine, Pelton wheel, pressure exchanger, work exchanger, and electric motor drive.
On the basis of application, the energy recovery devices market has been segmented into construction, oil & gas, and others.
The country-level energy recovery devices market profiled in this assessment are Japan, China, and India. Other key regional segments of the market that are further studied on the basis of countries are - Europe, Southeast Asia, and North America. North America is one of the leading regional segments of the energy recovery devices market. The rising growth curve of the oil & gas industry in the region is projected to increase the expansion pace of the energy recovery devices market in the nearby future. Increasing shale exploration in the region is poised to push the demand for these devices over the next couple of years. Europe is also poised to exhibit steady growth in the coming years. Meanwhile, a rapid augmentation of the energy recovery devices market is to be witnessed in the energy recovery devices market in Asian nations in the foreseeable future.
In September 2019, Energy Recovery has received a sum of USD 6 Mn for the supply of PX® Pressure Exchanger® devices to Middle Eastern facilities of seawater reverse osmosis desalination. The product is to be supplied with related equipment and services.
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Release ID: 88929891