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Hydraulic Dosing Pump Market to Hit $949.3 Million by 2023

05-18-2021 07:02 AM CET | Energy & Environment

Press release from: MarketsandMarkets

Hydraulic Dosing Pump Market to Hit $949.3 Million by 2023

The global Hydraulic Dosing Pump Market is estimated to be valued at USD 771.8 million in 2018 and is projected to reach USD 949.3 million by 2023, at a CAGR of 4.23% during the forecast period. In 2018, the Asia Pacific is estimated to be the largest market for hydraulic dosing pumps, followed by Europe and North America. The growth of the hydraulic dosing pump market is driven by new refining capacity additions in the Asia Pacific and the Middle East, increasing investments in the water & wastewater treatment industry, and rising demand from the chemical sector. The implementation of smart digital dosing technologies and an increasing need for precise and leak-proof pumps in manufacturing industries for applications in food & beverage, pharmaceutical, and automotive sectors present a significant opportunity for the hydraulic dosing pump market.

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The global hydraulic dosing pump market is set to witness significant growth because of the growing demand for accurate and precise dosing from chemical, oil & gas, and manufacturing industries, along with increasing investments in the water & wastewater treatment sector. Increasing implementation of smart dosing technology coupled with refining capacity additions in the Asia Pacific and the Middle East are the major opportunities for the hydraulic dosing pump market.

The diaphragm segment is expected to hold the largest share of the hydraulic dosing pump market during the forecast period. Growing investments in the chemical and water & wastewater treatment sectors along with increased focus on digitalization of manufacturing processes are the major factors driving the hydraulic dosing pump market in the Asia Pacific. Furthermore, the region is expected to witness significant additions in its refining capacity which will involve various expansions and upgradation projects and new refinery setups during the forecast period. Diaphragm pumps are highly preferred in these industries because of its ability to handle hazardous, toxic, or corrosive chemicals. These factors have resulted in the highest market share of the diaphragm segment in the hydraulic dosing pump market.

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Asia Pacific is expected to be the largest market for hydraulic dosing pumps
In this report, the hydraulic dosing pump market has been analyzed on the basis of 5 regions: Asia Pacific, North America, Europe, and the Middle East & Africa. Asia Pacific is expected to lead the global hydraulic dosing pump market by 2023. The market in the Asia Pacific is driven by countries such as China, India, South Korea, and the ASEAN. The demand for hydraulic dosing pumps in this region is driven by rising refining capacity additions, investments in water & wastewater treatment sector, and demand from the manufacturing industry.

Key players operating in the Hydraulic Dosing Pump Market include Dover Corporation (US), Grundfos (Denmark), SPX Flow (US), IDEX Corporation (US), and LEWA (Germany).

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MarketsandMarkets™ INC.
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