Positive Displacement Pumps Market Size

Positive Displacement Pumps Market Size

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.

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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.

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.