The positive displacement pumps market is expected to grow from US$ 11.5 billion in 2021 to US$ 19.2 billion by 2028 at a CAGR of 6.6% between 2021 and 2028.
The positive displacement pumps market continues to mature with ongoing investments in several sectors such as oil & gas, water & wastewater, and food & beverage. Pump manufacturers face key market challenges, such as the need to provide pumps with high energy efficiency, value-added support services, and competitive prices. In addition, the market consolidation in the pump industry is likely to push top manufacturers to expand their product offerings, thereby penetrating newer markets. Rise in demand for positive displacement pumps in the oil & gas industry, technological advancements in pump displacements, and increase in the adoption of positive displacement pumps in wastewater treatment are the key drivers for the positive displacement pumps market.
MARKET DYNAMICS
The increasing need for wastewater treatment from the refining, chemical, and pharmaceutical industries is the key driver for the market. Rising population and growing industrialization have resulted in high demand for crude oil, augmenting the need for positive displacement pumps. Furthermore, several businesses serving the water end-user industries, such as marine and water-wastewater treatment, are increasingly imposing measures in the water sector to enhance reliability, sustainability, and profitability in their operations. Moreover, increased exploratory activities in the oil & gas industry and diverse technological improvements—including the aggregate of hydraulic fracturing and horizontal drilling—have boosted worldwide oil production, attracting numerous vendors to invest in the positive displacement pumps market.
MARKET SCOPE
The "Global Positive Displacement Pumps Market Analysis to 2028" is a specialized and in-depth study of the positive displacement pumps market with a special focus on the global market trend analysis. The report aims to provide an overview of the market with detailed market segmentation by product and application. The global positive displacement pumps market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the positive displacement pumps market.
Strategic Insights
MARKET SEGMENTATION
The global positive displacement pumps market is segmented based on product and application. Based on product, the market is segmented into reciprocating, rotary, and others. In terms of application, the market is segmented into oil and gas, water treatment, chemical, pharmaceutical, food and beverages, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global positive displacement pumps market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. Each region's positive displacement pumps market is later subsegmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in the target regions.
From the regional perspective, APAC dominated the positive displacement pumps market with ~XX% market share in 2021. The market in Asia Pacific is projected to account for the largest market share in the coming years. The growing number of hydrocarbon exploration activities, as a result of the high demand for energy and power, will positively impact the global market. Besides, the need for sustainable energy management may represent growth in the regional market size. The presence of several major pump manufacturers in countries such as India, China, and Japan is expected to fuel the market growth in Asia Pacific.
The below figure showcases the revenue growth trend in the global positive displacement pumps market:
Source: The Insight Partners Analysis
The report analyzes factors affecting the positive displacement pumps market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis, highlighting the factors affecting the positive displacement pumps market in Europe and Asia Pacific.
IMPACT OF COVID-19 PANDEMIC
The effect of COVID-19 was severe on the sales of positive displacement pumps across the globe. The impact was felt across numerous industries and delayed the process of supply chain activities within the pump manufacturing sector. Governments of countries worldwide imposed lockdowns and restricted movement to curb the spread of the virus. Due to this, a majority of end users lost a significant revenue share in 2020 and 2021. As there were travel restrictions across the world, the pump industry faced service-related problems as service teams were unable to reach locations. Service and maintenance-related issues were met through technological innovations with the advent of Industry 4.0. These features were incorporated into a pump monitoring system, enabling the consumer to evaluate the pump parameters, get on-time production status, live monitoring, scheduled maintenance time, and output. The system also helps transmit the records through a web portal and an interactive mobile app. This is anticipated to drive the pump industry despite the lockdown measures. It is also expected to reduce transportation prices and workforce significantly.
MARKET PLAYERS
The reports cover key developments in the positive displacement pumps market's organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and patents and events. Inorganic growth strategies witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players are anticipated to have lucrative growth opportunities in the future with the rising demand for positive displacement pumps. Below mentioned is the list of a few companies engaged in the positive displacement pumps market.
The report also includes the profiles of key positive displacement pumps market companies, along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key development in the past five years.
- Schlumberger Ltd
- HERMETIC-Pumpen
- Pentair
- Baker Hughes
- Flowserve
- Sulzer
- IDEX Corporation
- Ebara Corporation
- Weir Group
- Fristam Pumps
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.