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Worldwide Insights: The Rapid Development of the Oxygen Generator Market
Oxygen Generator Market
Projected Expansion and Market Size of Oxygen Generators Through 2030
The oxygen generator market is anticipated to grow steadily, reaching a value of $6.17 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 8.6%. Several factors contribute to this positive outlook, including increased investments in healthcare infrastructure, rising oxygen demand in wastewater treatment, and the growth of aerospace and aviation sectors. Technological improvements in membrane and Pressure Swing Adsorption (PSA) systems, along with a heightened emphasis on supply chain reliability, further support this upward trend. Key market trends during this period include the growing adoption of PSA-based oxygen generation systems, a surge in onsite oxygen supply solutions, expanding use of portable and compact oxygen generators, and the broader application of oxygen generators in industrial fields. Additionally, there is a growing preference for continuous and dependable oxygen production methods.
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Prominent Industry Leaders Driving the Industrial Pumps Market
The industrial pumps market features several major companies actively shaping its direction. Leading players include Schlumberger Limited, Baker Hughes Company, Atlas Copco, Xylem Inc., Regal Beloit Corporation, Alfa Laval AB, EBARA International Corporation, Pentair PLC, Idex Corporation, Grundfos Holding A/S, The Weir Group PLC, Sulzer Ltd, ITT Inc., KSB SE & Co. KGaA, Wilo SE, SPX Flow Inc., Nikkiso Co. Ltd., Kirloskar Brothers Limited, Flowserve Corporation, Gorman-Rupp Company, Tsurumi Manufacturing Co. Ltd., Sundyne LLC, Iwaki Co. Ltd., HMS Group, PumpWorks Inc., LEWA GmbH, ClydeUnion Pumps, Vertiflo Pump Company, PPI Pumps Pvt. Ltd., Hayward Tyler Group Ltd., Parker Hannifin Corporation, SPP Pumps Limited, and CRI Pumps Pvt. Ltd.
In January 2024, Atlas Copco, a Sweden-based manufacturer specializing in industrial tools, pumps, and equipment, announced its acquisition of the Germany-based industrial pump manufacturer Kracht GmbH for an undisclosed amount. This strategic move aims to strengthen Atlas Copco's portfolio within the industrial pumps segment and broaden its market presence.
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Emerging Innovations in the Industrial Pumps Market
Leading companies in the industrial pumps sector are focusing on developing cutting-edge products that leverage advanced technologies to improve reliability and efficiency. One notable innovation is the submersible recirculation pump, designed to operate fully submerged while continuously circulating fluid within a closed system. For example, in January 2023, Sulzer, a Swiss industrial engineering and manufacturing company, introduced an enhanced version of its XRCP submersible recirculation pump. This new line boasts a 20% improvement in hydraulic efficiency due to design upgrades. Additional enhancements include better motor efficiency, improved dependability, and optional condition monitoring features. These pumps are widely used in applications such as recirculating activated sludge in denitrification processes.
Key Market Segments Shaping Industrial Pumps Industry Growth
The industrial pumps market is broadly categorized into several important segments:
- By Product: Centrifugal Pumps and Positive Displacement Pumps
- By Position: Submersible and Non-Submersible Pumps
- By Driving Force: Engine-Driven and Electrical-Driven Pumps
- By Application: Oil and Gas, Chemicals, Construction, Power Generation, Water and Wastewater, and Other Applications
Further breakdowns include:
- Centrifugal Pumps: End Suction Pumps, Vertical Turbine Pumps, and Axial Flow Pumps
- Positive Displacement Pumps: Gear Pumps, Diaphragm Pumps, Piston Pumps, and Peristaltic Pumps
These segments highlight the diversity of pump types and applications that collectively drive the market's ongoing development.
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