Press release
Reciprocating Pumps Market Is Expected To Witness Exhibiting Growth At 6.6% CAGR During 2022-2032
The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
However, with the relaxations in the government regulations and an expedited vaccination drive in countries like China, the U.S., the UK, and India, the Reciprocating Pumps Market industry is slowly picking up its pace. The manufacturers are preparing to reopen their production sites, abiding by the government regulations.
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Global Reciprocating Pumps Market Segments
By Flow Rate :
Up to 100 m3/h
100-300 m3/h
300-800 m3/h
Above 800 m3/h
By Type :
Piston
Plunger
Diaphragm
By End-Use Industry :
Oil & Gas
Chemical
Water Treatment
Pharmaceuticals
Food & Beverage
Others
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
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Energy Consumption in the US is Leading to High Adoption of Reciprocating Pumps Market Systems
The US accounts for the largest share in the construction industry. The pandemic has halted many construction-related activities, which in turn has impacted the growth of the Reciprocating Pumps Market industry negatively.
However, the development in the Reciprocating Pumps Market industry is rising at a steady pace with the resumption of the construction industry. The ever-growing energy consumption in the country is also generating demand for more energy-efficient Reciprocating Pumps Market systems in the region.
Competitive Landscape: Top Companies in Reciprocating Pumps Market
The global reciprocating pumps market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced reciprocating pumps.
Fact.MR has provided detailed information about price points of top manufacturers of reciprocating pumps market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance: During 2019 beginning, Grundfos opened a new facility in US. The company plans to serve the wastewater industry by providing its leading technical solutions. This new facility is opened in Florida with an aim to grow as a distribution hub for water and wastewater pumps, controls, and other accessories manufactured by this company providing.
Technological Advancements are Leading Innovations in the Reciprocating Pumps Market in China
China is gradually recovering from the adverse effect of the pandemic due to its successful efforts in curbing the spread of the virus within the region. With almost negligible restrictions, the construction, heavy machinery, and automotive industry have started resuming operations.
Rising expenditure in technology and increasing emphasis on environmental safety are propelling the demand in the Reciprocating Pumps Market industry in China. The growing interest in billboard automation and industrial displays in allowing manufacturers to gradually attain their pre-pandemic status.
India is Experiencing High Adoption of Reciprocating Pumps Market Systems
The Indian Reciprocating Pumps Market industry witnessed a downfall due to the pandemic. In order to follow the safety guideline, many construction sites and manufacturing units were shut until further notice.
With the relaxation of these restrictions, the manufactures operating in the automation, engineering, and construction (AEC) industry managed to gather pace in recovery. However, the second wave of the pandemic hit the Reciprocating Pumps Market industry negatively, affecting the overall growth of the industry.
Being a fast-growing economy, global leaders are finding lucrative opportunities in the country, both in commercial and residential spaces, as the demand for multi-modal building automation is surging.
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Key Long-Term Trends
The global Reciprocating Pumps Market industry is showing notable recovery in 2021 and will continue to offer opportunities for expansion to the players operating in the market. With the penetration of building automation in residential areas, the Reciprocating Pumps Market industry will show an upward trend. Some new trends that are boosting the growth in the market are:
Internet of Things (IoT)
The Internet of Things (IoT) and the Industrial Internet of Things (IIoT) are experiencing broader acceptance in the Reciprocating Pumps Market industry. The innovative technology which makes everything 'inter-connected is gaining immense popularity in both residential and commercial projects, making them technologically advanced and effective in risk management.
Edge Computing
As the number of residents increases, the data also becomes vaster. Hence, edge computing will act as a key technology in the Reciprocating Pumps Market industry. Edge computing enables data security, easy accessibility, and enhanced automation in commercial and residential buildings.
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