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Diaphragm Pumps Market Forecast to Surpass $7.6 billion by 2027 with a CAGR of 4.5%

12-08-2023 09:34 AM CET | Energy & Environment

Press release from: MarketsandMarkets

Diaphragm Pumps Market Forecast to Surpass $7.6 billion by 2027

According to a new market research report, the global diaphragm pumps market is expected to grow from an estimated USD 6.1 billion in 2022 to USD 7.6 billion by 2027, at a CAGR of 4.5% during the forecast period. The growth of water and wastewater treatment industry and the spurt in oil & gas activities are main drivers for the diaphragm pumps market. Growth in pharmaceutical industry is expected to offer remunerative opportunities for the diaphragm pumps market during the forecast period.

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The diaphragm pumps market includes prominent Tier I and Tier II manufacturers like PSG, Ingersoll Rand Inc., IDEX Corporation, Flowserve, and Xylem, Inc. These companies have their manufacturing facilities spread across North America, Europe, Asia Pacific and the other regions. Many diaphragm pump manufacturers have also developed smart pumps incorporating AI and IoT technologies that provide real-time monitoring, remote operation capability, failure diagnosis and troubleshooting and a host of other features. The chemicals, water & wastewater, oil & gas, food & beverage, and pharmaceuticals industries are the amongst the largest consumers of diaphragm pumps. The growth of these industries is expected to also lead to the growth of the diaphragm pumps market.

Key Market Players
The leading players in the diaphragm pumps market include PSG (US), IDEX Corporation (US), Flowserve Corporation (US), Ingersoll Rand Inc. (US), and Xylem Inc. (US). Growth strategies adopted by these players include sales contracts, product launches, partnerships, merger and acquisitions to increase their presence in the global market.

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This research report categorizes the diaphragm pumps market based on mechanism, operation, discharge pressure, end user, and region.
Based on Mechanism:

Air Operated
Electrically Operated

Based on Operation:

Single Acting
Double Acting

Based on Discharge Pressure:

Up to 80 Bar
81-200 Bar
Above 200 Bar

Based on End User:

Water & Wastewater
Oil & Gas
Chemicals
Pharmaceuticals
Food & Beverage
Others (power generation, paint, mining, and pulp & paper)

Based on Region:

North America
Asia Pacific
South America
Europe
Middle East & Africa

Recent Developments

In March 2022, IDEX Corporation acquired Nexight LLC and its market-leading businesses - Envirosight, WinCan, MyTana, and Pipeline Renewal Technologies (PRT)
In March 2022, Floweserve Corporation partnered with Gradiant to help and address the most challenging problems in water and wastewater treatment.
In February 2022, Grundfos Holding A/S signed an agreement with the EKF Denmark's Export Credit Agency enabling Grundfos to finance projects globally for private commercial and public customers with limited funds available.
In June 2021, Ingersoll Rand Inc. acquired Tuthill Corporation's Pump Group by USD 85 million. The employees and the brands of Pump Group joined Ingersoll Rand Precision and Science Technologies (PST) segment.

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Asia Pacific likely to emerge as the largest diaphragm pumps market

The Asia Pacific region accounted for the largest share of the diaphragm pumps market in 2021. The major end users for diaphragm pumps in the Asia Pacific region include water & wastewater treatment, pharmaceuticals, chemicals, and oil & gas industries. The growth of the market in Asia Pacific, hence, can be attributed to the increasing industrialization, investments in water infrastructure, and the growth of industries like pharmaceuticals, chemicals, and oil & gas. The burgeoning population of Asia Pacific puts an extreme burden on the water resources of the countries in this region. The water and wastewater treatment sector, as a result has huge growth potential in the region. The region is also a global pharmaceuticals hub and the industry is growing thanks to the rising awareness of healthcare in the current population and accessibility to modernized treatment regimens without border restrictions. Economies in the region are experiencing a rapid fall in their oil inventories as a result of the increasing crude oil prices and the reduction in supply induced by the sanctions on Russian crude, leading to an increase in oil & gas exploration and production activities. The growth of these industries is expected to positively drive the diaphragm pumps market in this region during the forecast period.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com

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