Press release
Diaphragm Pump Market's Remarkable Growth: From $6.1 Billion in 2023 to $9.08 Billion by 2028 - Driven by Oil and Gas Demand, Petrochemical Industry Expansion, and Technological Innovations
Diaphragm Pump Market
Market Drivers:
Oil and Gas Demand: The burgeoning global demand for oil and gas emerges as a pivotal driver for the diaphragm pump market. These pumps play a crucial role during the upstream and midstream phases of oil refinement, efficiently drawing oil and gas into refinery chambers. The market is further fueled by the increasing energy consumption linked to economic growth, exemplified by the 5.3 million barrels per day (b/d) increase in oil consumption in 2021, as reported by BP plc.
Petrochemical Industry Growth: The expanding petrochemical industry significantly contributes to the market's growth. Diaphragm pumps, equipped to transfer, dose, and meter chemicals safely, find extensive usage in the petrochemical sector. The Indian chemical and petrochemical (CPC) sector, valued at $178 billion USD in 2023, is anticipated to soar to nearly $300 billion USD by 2025, as reported by the Ministry of Chemicals and Fertilisers, Government of India.
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Key Industry Players:
Prominent companies influencing the diaphragm pump market include Flowserve Corporation, Grundfos Holding A/S, and IDEX Corporation. These industry leaders actively drive market expansion through strategic initiatives and innovations.
Technological Advancements:
Environmentally Friendly Solutions: Technological innovation shapes the diaphragm pump market, with a focus on developing environmentally friendly and energy-efficient solutions. Graco Inc, a US-based fluid-handling systems company, introduced the Husky 3300e electric double diaphragm pump, providing a cost-efficient and energy-saving alternative.
Global Manufacturing Expansion: Key players are concentrating on global expansion in diaphragm pump manufacturing, aiming to enhance their competitive edge and product offerings. Unibloc Hygienic Technologies expanded its Flotronic pump production from one facility to two continents. This expansion facilitates the production of the Flotronic Barrel Unloading System, catering to high viscosities.
Segmentation:
The diaphragm pump market covered in this report is segmented -
1) By Mechanism: Air Operated, Electrically Operated
2) By Operation: Single Acting Diaphragm Pump, Double Acting Diaphragm Pump
3) By End-user: Water Treatment, Oil And Gas, Chemical, Pharmaceutical, Food And Beverage, Other End-users
Regional Leadership and Growth Projections:
Asia-Pacific emerged as the largest region in the diaphragm pump market in 2023, positioned for rapid growth in the forecast period. The regions covered in the diaphragm pump market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Diaphragm Pump Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Diaphragm Pump Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on diaphragm pump market size, diaphragm pump market drivers and trends, diaphragm pump market major players, market competitors' revenues, market positioning, and diaphragm pump market growth across geographies. The diaphragm pump market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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