Home > HVAC & Construction > Positive Displacement Pumps Market
Industry Trends
Positive Displacement Pumps Market size surpassed USD 15.7 billion in 2020 and will grow at a CAGR of 3.7% from 2021 to 2027. The increasing penetration of PD pumps in end-user applications will fuel industry growth.
To get more details on this report: Request Free Sample PDF
The growing population and rapid industrialization in developing countries have resulted in the ever-growing demand for oil& gas, power, and food & beverage, thus augmenting pumps market growth. Various essential performance factors in oil & gas and wastewater management have led to increased product demand. The market growth is prominently driven by increasing oil & gas exploration activities and oil & gas production in North America.
Growth in the end-user industries in developing countries acts as a catalyst in the global pumps market, subsequently driving the product demand. Macroeconomic factors, such as increasing GDP and international trade, have paved the path for market growth globally. The ability to handle differential pressure and various viscous fluids provides an added advantage to PD pumps over centrifugal pumps. The increasing demand for the product in dewatering applications in the building & construction and other industrial sectors will fuel market revenue.
The PD pumps market from the refining industry is increasing owing to the presence of unconventional feedstock, which needs more refining. The oil & gas industry is likely to witness strong growth through 2027 on account of the rising population and increasing per capita consumption of power & fuel. The demand for pumps in fluid management in refineries will augment market expansion.
The population across major geographical markets is rising significantly, thus the demand for water treatment plants and wastewater management systems will increase in the foreseeable future. The wastewater industry will be among the largest purchaser of the product in the coming years. Asia is set to account for a major market share impelled by the large presence of end-user industries and rapidly expanding infrastructure.
The increasing demand for food & beverages across the world will spur market growth. The growing population is putting a strain on the current global food & beverage supply. To meet the ever-growing food demand, food & beverage companies are expanding their production capacity or even establishing new product lines.
Report Coverage | Details |
---|---|
Base Year: | 2020 |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 3.7% |
2027 Value Projection: | USD 20.34 Billion |
Historical Data for: | 2017 to 2020 |
No. of Pages: | 350 |
Tables, Charts & Figures: | 309 |
Segments covered: | Type, End-user and Region |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
To get more details on this report: Request Free Sample PDF
The positive displacement pumps market is expected to experience some challenges in the coming years. Market players can expect increasing competition from centrifugal and other pump types. Furthermore, fluctuating raw material prices will hinder market growth. High maintenance costs associated with the product will act as a challenge for stakeholders.
The emergence of the COVID-19 pandemic has affected the revenue generation and profitability of the pump market. Governments across the world have imposed lockdowns and various restrictions, negatively influencing the demand in major markets. Moreover, many end-user industries have lost significant revenue due to demand shocks caused by the pandemic, thus product demand decreased in 2020.
Reciprocating pumps held around 40% of the positive displacement pumps market share in 2020 and is projected to witness significant CAGR through 2027. Reciprocating pumps are perceived to be more efficient than centrifugal pumps. Reciprocating pumps are used where accurate dosing or high-pressure output is required. Reciprocating pumps are classified into piston or plunger pumps and diaphragm pumps. Between both types, diaphragm pumps held the largest share in the reciprocating pumps segment.
To get more details on this report: Request Free Sample PDF
Oil & gas accounted for around 40% of the PD pumps market revenue share in 2020 and is predicted to reach USD 8.2 billion by 2027. Global dependency on oil & gas will increase in the coming years owing to rising industrial economies. Many countries are expanding their oil & gas exploration activities to find and reach more oil fields.
To get more details on this report: Request Free Sample PDF
The Asia Pacific positive displacement pumps market revenue is forecast to cross USD 10.3 billion by 2027. Asia Pacific has become the largest market for pump manufacturers. Regional industries are growing at a significant rate propelled by the presence of large domestic markets such as China, India, Indonesia, etc. Additionally, many manufacturers are establishing their production base in Asia Pacific to take advantage of the regional markets.
The industry has a large number of established companies with a global presence. Companies are engaged in new product launches to keep their market presence. For instance, Packo, a Belgium-based pump manufacturer, launched a rotary lobe pump for the pharma industry in May 2021.
The key players engaged in the positive displacement pumps market are The Weir Group PLC, Atlas Copco, GRUNDFOS, Flowserve Corporation, Sulzer, Xylem, SPX FLOW, Inc., Alfa Laval, etc.
Click here to Buy Section of this Report
Market, By Type
Market, By End-User
The above information is provided on a regional and country basis for the following: