Reciprocating Pumps Market Soaring Demand Assures Motivated Revenue Share during 2018 to 2027

As per the UN, in this ‘urban millennium’, 50% of the world’s population is living in urban areas, with 180,000 people adding to the urban population daily.

Over time, countries especially the developing countries have been investing significantly in infrastructure, sanitation, and water and wastewater management to support the mounting rate of urbanization. This trend will continue to grow the global pumps market.

Also, the demand for electricity is growing at a fast pace, and thus, pumps being used as an integral part of a power plant is also likely to witness higher sales, owing to the fast development of power sector. According to International Energy Agency, the worldwide energy demand climbed by 2.1% in 2017, doubling the year 2016’s rate.

In the densely populated country like India, pumps have become the basic equipment for nearly all spheres of the national economy. According to Indian Pump Manufactures Association, the Indian pump industry has in its own growth, contributed greatly to the country’s economic growth.

The pumps market is changing at a fast pace as manufacturers are increasingly introducing more innovative and smarter features of pumps. The key developments in pump technology have been triggered by the application requirements of the end users.

Drivers and Restraints: Pumps Market  

There are a wide range of factors that are influencing the demand for pumps, further growing the pumps market.

The growing industrialization trends are generating highly lucrative avenues for stakeholders in the pumps market, especially in rotary pumps market. The growing end-use industries like power, water and wastewater treatment, chemicals, and oil and gas, etc. are increasing the demand for pumps.
Pumps market, especially the water pumps market, is witnessing growth on account of constant rise in water and wastewater treatment service tariffs and growing replacement of water pumps in developed markets.
The growing number of initiatives for the development of energy-efficient equipment are likely to drive the pumps market. For example, in 2016, the US Department of Energy sanctioned more than USD 25 million for the development of energy-efficient motor technologies.
The IEC has also laid down regulations related to the use of energy-efficient motors in industries. Such stringent regulatory norms to slash energy consumption could spur the demand for energy-efficient pumps that consume less energy.
The growing technological advancements are adding to the growth of pumps market.
Growing renewable energy is likely to become a key restraining factor for the pumps market, as it slashes the cost of power generation. According to the Center for Climate and Energy Solutions, in the United Nations, renewable energy is the fastest-growing energy source, climbing 67% from 2000 to 2016.
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Trends and Opportunities: Global Pumps Market

Life is changing at a fast pace, and so are the trends in every market, giving fresh opportunities to the key players. Trends play a vital role in changing the big picture of the market.

The global pumps market is witnessing a rise in demand for energy efficient centrifugal pumps. The manufactures of centrifugal pumps are adopting micro disc pumping and flexible frequency drive technology for improved work efficiency.
The manufactures in pumps market are eyeing opportunities to unleash highly efficient and pocket-friendly pumps and capitalize on the increasing domination of advanced technologies in industrial sectors. For instance, the U.S.-based water treatment company Pentair plc. has recently introduced energy-efficient pool pumps incorporated with next-generation connected technologies, which are capable of automating different processes like moving, heating, filtering, and sanitizing pool water etc.
There are many types of pumps making rounds in pumps market, including reciprocating pumps, mining pumps, rotary pumps, and chemical metering pumps, etc.

Rising Demand for Oil and Gas is Helping Reciprocating Pumps Grow

Reciprocating pumps are among the oldest and most widely used pumps. They work at higher efficiency than other pump designs. Currently, the market for reciprocating pumps is growing and is expected to grow more in the coming time.

Key Information about Reciprocating Pumps

Reciprocating pumps operate with high efficiencies; handle different pressures at a constant speed; offer momentary pressure spikes to keep pipeline obstruction free; and they are self-priming and don’t get affected by air entrainment.
Reciprocating pumps market is likely to witness significant growth, owing to the growing demand for oil and gas globally. The rise in the demand for oil and gas will create opportunities a wide range of industrial goods, like reciprocating pumps. According to International Energy Agency, the oil demand will reach 104.7 mb/d by 2023, up 6.9 mb/d from 2018, and the worldwide demand for natural gas is likely to climb at an average 1.6% in the upcoming 5 years.
In the APEJ region, sales of reciprocating pumps are projected to benefit from macroeconomic trends, mainly the increasing investment in energy generation. Also, the increasing urbanization in the region has climbed the construction activities, which has further grown the consumption of chemicals, thereby fueling the demand for reciprocating pumps. Furthermore, the increase in population in the region is propelling the demand for oil, gas, electricity, and chemicals in emerging economies like China, India, etc. As per the UN, the population of India is likely to exceed that of China around 2024.
The current trends, including the growing adoption of smart pumping systems, are influencing the sales of reciprocating pumps.
Sensing the fast changing trends and technology, the manufacturers of reciprocating pumps are concentrating on integrating sensors with the pumps to record different parameters like pressure, liquid levels, etc.

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Renaissance of Mining Sector could Trigger Demand for Mining Pumps

The resurgence of mining sector and growing investments in new mining projects and in upgrading the existing projects in different parts of the world have accelerated the demand for mining pumps. For example, in 2017, the ‘New Federal Mining Agreement’ was drafted in the U.S. with an objective to attract investments in the regional mining sector. Furthermore, the United States Census Bureau stats show that mining sector showcased significant rise of 75.9% in terms of capital investments from 2006 to 2015.

Key Information

Sales of centrifugal mining pumps are rising owing to their cost-effectiveness and effortless installation. Easy installation along with high performance attributes are scaling up the demand for centrifugal mining pumps.
The centrifugal mining pumps offers fluid, free from any kind of pressure fluctuations. These pumps use simple foundations due to absence of vibration.
The adoption of mining pumps is getting hampered due to their high maintenance needs and controlling issues when the flow rates are low.
The leading manufacturers of mining pumps are unleashing the potential of IoT and Industry 4.0 to drive significant profits and solidify their market sustenance.
In 2017, the American multinational corporation Flowserve Corporation entered into a worldwide partnership with Azima Inc. The association has delivered an exclusive predictive maintenance solution for industrial pumps as well as other rotating equipment.
Mining pumps play a vital role in the mining process. They are used in wide range of activities, including mineral processing, waste water and tailing transfer, and abrasive sludge dewatering, to name a few.

World’s Emerging Economies Witness Increasing Demand for Rotary Pumps

Rotary pumps are widely used in various industries, including oil and gas, water and wastewater, power generation, and chemical. Crammed with amazing design benefits, rotary pumps make a highly versatile pumping solution capable of managing high viscosity fluids in an array of industrial applications.

The growing access to water supply and significance of sanitation in developing countries, to be precise, are paving way for a wide range of avenues for the players operating in the rotary pumps market.

Key Information

The growing infrastructure developments and industrialization in the world’s emerging economies, like China and India, are driving the adoption of rotary pumps.
Players in rotary pumps market are pricing rotary pumps competitively to attain a stronger position in the highly competitive rotary pumps market in emerging economies. For example, ITT Inc. launched i-ALERT compatible Bluetooth® Smart Pressure Sensor recently, which is based on the Industrial Internet of things (IoT) technology platform, with an objective to offer a monitoring solution for industrial pump applications, like rotary pumps.
Rotary pumps can more efficiently pump liquids at high temperatures and liquids with gas or vapor contents in comparison to any other kind of pumps, widening the range of applications of rotary pumps.
The rotary pump manufacturers are working towards endorsing rotary pump’s unique performance characteristics to grow their business in different industrial territories.
The low efficiency and volume degree of rotary pumps is hampering the sales of rotary pumps. Strict pump efficiency standards are creating challenges for the manufacturers of rotary pumps. They are modifying their manufacturing and marketing strategies to smartly meet the latest efficiency standards and tackle the regulations of international governing bodies.
The collapsing oil prices and dipping levels of petroleum and natural gas exports have been badly impacting the progress of the oil & gas industry. The decline in the oil and gas industry will automatically decrease the demand for rotary pumps in oil & gas industrial applications, rotary pumps being the most sought-after pumps used to handle fuel oils and natural gas.

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Chemical Metering Pumps are Crammed with Benefits

The chemical metering pumps are increasingly used in petro chemical industry, in agricultural works, and water treatment industry. Chemical metering pumps are crammed with hefty benefits, and they offer impressive preciseness in performing discharge work, which together have been increasing the demand for chemical metering pump in industrial automation market.

Key Information

The manufacturers of chemical metering pumps are continuously trying to roll out pumps that are not just more durable, but can also work more precisely.
Many chemical factories, water treatment industry, petro chemical industry are constructing their bases in North America and Europe, which could increase the sales of chemical metering pumps in the region.
Chemical metering pumps can offer precise flow rates, and are generally used to move low amounts of fluid. The ability to produce precise flow rates makes metering pumps highly usable in an array of complex operations.
These pumps can be used to move even the thinnest and thickest liquids, and depending on their build, they can also move corrosive liquids. They can control flow rate easily, which makes them quite beneficial when moving fluid that is hazardous or expensive.
The chemical metering pumps are avoided in operations requiring movement of a large amount of fluid in a short span of time. Also, these pumps fail badly in moving most kinds of gas.
The world today is witnessing industrialization and urbanization at a fast pace, which is likely to create a lot of opportunities for the growth of pumps market. The current era is more about frequent disruptions triggered by unprecedented change, which is making it essential for the manufacturers of pumps to imagine the unimaginable, and stay up for alternate futures.

Leading with such a mindset, the manufactures and brands operating in pumps market could easily make the most of the disruptive developments, rather than getting blindsided.

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