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Refrigeration Pumps Market Set for Expansive Growth Over 2016 to 2026
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Ammonia and carbon dioxide are the refrigerant which are generally used in refrigeration pump as they are not flammable and do not affect the ozone layer. These pumps ensure complete safety of refrigeration pump plants. As refrigeration plants operate in sealed proof area, the pumps should be leak proof and environment friendly so as to maintain proper cooling for longer time. In refrigeration pump multiple mechanical seal is used for prevention of leakage in vacuum condition. Revenue generated from the sales of refrigeration pumps, globally is expected to increase at a moderate CAGR over the forecast period.
Global Refrigeration Pumps Market: Market Dynamics
The global retail market has been estimated to grow at annual rate of 4% over the next ten years. This is expected to increase the demand for refrigeration pumps, thus driving the growth of refrigeration pumps market. Refrigeration pumps are used in supermarkets where cooling is required in order to maintain the food quality for longer time span. The increasing commercial sector is also expected to fuel the growth of refrigeration pumps market over the forecast period. Moreover, the changing lifestyle of consumers has led to rapid increase in demand for packed food products such as dairy products, chilled products and confectionery among others. This factor is also expected to boost the global refrigeration pumps market over the forecast period.
Increased maintenance cost and ensuring proper performance aligns are expected to be challenges for the key players in global refrigeration pumps market. Increased product innovation for cost effective refrigeration pumps with more efficiency can create new opportunities for key players in this market.
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Global Refrigeration Pumps Market: Key Players
Some of the key market players identified in the global refrigeration pumps market are as follows:
HERMETIC Pumps
CORNELL PUMP COMPANY
Kirloskar Brothers Limited (India)
Viking Pump Inc.
Teikoku USA/Chempump
Buffalo pumps
Haskel
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