Press release
Positive Displacement (PD) Sanitary Pumps Market - Rising Demand for Provision of Value-added Support Services to Intensify Survival Challenges for Vendors
TMR estimates that the global PD sanitary pumps market, which held an opportunity of US$4.55 bn in 2015, will expand at a CAGR of 10.1% from 2016 to 2024 and rise to a valuation of US$10.65 bn by 2024. In terms of the varieties of rotary PD sanitary pumps available in the market, the segment of gear pumps led the market, accounting for a share of over 32% of the rotary PD sanitary pumps market revenues in 2015. Asia Pacific is the leading geographic segment in the global market, accounting for a share of nearly 39% of the overall market in the same year.
Strict Sanitary Regulations across Food and Beverages and Pharmaceutical Industries to Drive Market
Rising consumer awareness regarding the serious implications that failure to addressing sanitation and safety practices at crucial stages of food handling can cause has led to an increased emphasis on the instigation of strict sanitary regulations for the food and beverages industry. Companies operating in the pharmaceutical industry also observe stringent sanitation practices across a number of processes.
In the past few years, the regulatory framework governing sanitation practices in the industry have become more stringent and expansive to address sanitation and safety issues across areas such as fluid handling and supply chain. These factors are presently the leading drivers of the global PD sanitary pumps market and are also expected to have a substantial impact on the market’s future development.
Demand for PD sanitary pumps is also expected to be driven by the trend of modernization across the industrial and manufacturing sectors, especially across the developing economies such as India, China, and Brazil. Moreover, the rising adoption of smart or intelligent pump systems in the industrial sector, chiefly owing to the growing need for providing real-time feedback on system performance or tracking the location of system bug, is also expected to drive the global demand for PD sanitation pumps globally.
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Rising Demand for Provision of Value-added Support Services to Intensify Survival Challenges for Vendors
The global PD sanitary pumps market is heading towards maturity and the consumer is becoming increasingly demanding owing to the several product choices available. The demand for expansive and globally spread support services is gaining strength. The highly consolidated competitive landscape of the global PD sanitary pumps market has inhibited the growth of small-and medium-sized pump manufacturers.
As a result the large companies in the market, which no doubt command prominent positions, are compelled to deliver value-added services alongside the products to stay ahead in the competition and ensure long term loyalty of the consumer. The overhead costs suffered in the process of providing additional support services to the consumer are expected to lead to a decline in the overall profitability of the global PD sanitary pumps market in the near future.
Nevertheless, the market will witness a sizeable rise in demand from industries such as shale gas exploration and processing and chemicals. Rising investments across these sectors and stringent regulations related to sanitation and safety of several processes in the food and pharmaceutical industries are expected to present vast growth opportunities for the market.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge
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