Positive Displacement Pump Market Forecasts US$ 21.72 Billion by 2033 | Future Market Insights,Inc.
The Positive Displacement Pump Market report, brought to you by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—proffers comprehensive insights and meticulous analysis of the Positive Displacement Pump market. Embracing the scope and essence of the research, this report meticulously investigates the driving catalysts, market size, and predictive data for Positive Displacement Pumps. It offers intricate revenue and shipment breakdowns, with a projection spanning a decade until 2033. Moreover, the document assesses major industry players, their market shares, the competitive framework, and regional insights.
In 2023, the market for positive displacement pumps is projected to
be worth close to $14.12 billion USD. By recording a CAGR of 4.4% from 2023 to
2033, the whole market is anticipated to reach a market value of US$ 21.72
billion.
Positive
displacement pumps are used to transfer fluids in inter and intra facilities.
Over the years, the market has developed in terms of innovations in materials
and design. Companies introduced products that can withstand significantly
higher levels of pressure, with advances in material sciences.
According to the
report, the market will grow at a CAGR of around 4.4% between 2023 and 2033.
Positive displacement pumps are in high demand as the oil gas and water
distribution industries grow.
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Positive
displacement pumps are important equipment used for ensuring accurate and
repeatable transportation and pumping operations. Market leaders are investing
in refineries for oil-based products to increase their regional presence and
market share.
Positive
displacement pumps have seen a significant rise in demand over the last few
years. To meet the increased demand, manufacturers are planning to build new
manufacturing units or expand existing infrastructure.
Demand for positive
displacement pump waned in 2020 due to the COVID-19 pandemic. However, the
water and wastewater segment of the industry sowed less due to the latest
guidelines issued by World Health Organization (WHO) which bodes well for the
sales of these equipment in future. Despite the risk of a stimulus in many
countries, the market’s long-term outlook is optimistic.
Key Takeaways from
Positive Displacement Pumps Market Study
- Reciprocating positive displacement
pumps are expected to hold close to 69% of the overall market, driven by
cost benefits.
- Oil and gas applications are projected
to account for over two-fifths of the overall market share owing to
extensive applications in associated refinery facilities.
- The market in the Germany is projected
to expand at a CAGR of around 5%, supported by increasing investments in
infrastructure for oil & gas imports.
- Sales of positive displacement pumps in
the U.S. will account for over 65% of the North America market by the end
of 2031.
- The emerging markets such as Spain will
exhibit steady growth at 5.3% CAGR over the next ten years.
“The surge in
demand from the global oil & gas industry for positive displacement pumps
in recent years is expected to support market growth, especially in emerging
economies such as India and China. Against this backdrop, the market players
are likely to increase their investment towards expansion in the developing
countries,” says a
Future Market Insights analyst.
Competitive
Landscape
The market is highly
consolidated, with key players accounting for more than four-fifth of the
market share. These players are likely to invest in new technology developments
and expansion of their networks in order to maintain their market shares.
Some of the key
players in this industry include but are not limited to Grundfos, Ebara Corp.,
Flowserve Corporation, WILO SE, Xylem Inc., The Weir Group Plc, Ruhrpumpen
Group, Sulzer AG, Dover Corp., and KSB Group.
Applications in the
power generation and chemical sectors played significant roles between 2016 and
2020. According to FMI, the oil and gas industry is expected to grow at a
healthy rate in economies such as China, India, the Middle East, and Africa.
Positive Displacement Pumps Market by Category
By Product Type:
- Reciprocating Pump
- Low Capacity
- Medium Capacity
- High Capacity
- Rotary
Pump
- Low Capacity
- Medium Capacity
- High Capacity
By Application Type:
- Oil & Gas
- Chemical
- Water & Wastewater
- Pulp & Paper
- Power
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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