Asia Pacific Side Channel Pumps Market Size

Asia Pacific Side Channel Pumps Market Size

Asia Pacific Side Channel Pumps Market size exceeded USD 163.9 million in 2020 and is estimated to exhibit 7% CAGR from 2021 to 2027. The growth of various end-use sectors in the region is creating lucrative opportunities for industry participants.

The volatility in raw materials used for manufacturing side channel pumps is projected to hinder the market growth. Prices of steel, iron, and other materials are very volatile and not pre decided; hence, the manufacturer has to risk his own profit margin in the whole process. Manufacturers can try outsourcing raw materials from different countries, where prices are low, but it will result in even higher freight costs, and the risks of fluctuating currency exchange will make the situation even worse. Increasing the raw material prices will eventually increase the cost of manufacturing, and manufacturers cannot pass the whole additional cost to the consumers due to the resulting high cost of the product.