The new positive displacement pumps market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Positive Displacement Pumps Market 2020-2024 (Graphic: Business Wire)
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“One of the primary growth drivers for this market is the developments in the water and wastewater industry,” says a senior analyst for the industrials industry at Technavio. Emerging economies such as China, India, Indonesia, Saudi Arabia, and other Asian and the Middle East are increasingly focusing on supporting the adoption of positive displacement pumps. As the markets recover, Technavio expects the positive displacement pumps market size to grow by USD 2.91 billion during the period 2020-2024.
Positive Displacement Pumps Market Segment Highlights for 2020
- The positive displacement pumps market is expected to post a year-over-year growth rate of 3.18%.
- Based on the product, the rotary pumps led the market in 2019. Rotary-type positive displacement pumps create a constant, steady flow of fluid when compared to reciprocating-type pumps, which is driving their adoption among end-users.
- The market growth in the segment will be significant during the forecast period.
Regional Analysis
- 47% of the growth will originate from the APAC region.
- Factors such as the rising adoption of positive displacement pumps in various end-user sectors will significantly drive positive displacement pumps market growth in APAC during the forecast period.
- China and Japan are the key markets for positive displacement pumps in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Related Reports on Industrials Include:
Global Sanitary Pumps Market– The sanitary pumps market is segmented by product (PD sanitary pump and centrifugal sanitary pump), end-user (food and beverage, pharmaceutical, and others), and geography (North America, APAC, Europe, South America, and MEA). Click Here to Get an Exclusive Free Sample Report
Global Water Desalination Pumps Market– The water desalination pumps market is segmented by type (centrifugal pumps and positive displacement pumps), application (reverse osmosis, multi-effect distillation, multi-stage flash, and others), and geography (Middle East, Europe, and Africa). Click Here to Get an Exclusive Free Sample Report
Notes:
- The positive displacement pumps market size is expected to accelerate at a CAGR of over 5% during the forecast period.
- The positive displacement pumps market is segmented by product (Rotary pumps and Reciprocating pumps), end-user (oil and gas, water and wastewater, chemical and petrochemical, and others), and geography (APAC, Europe, North America, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Alfa Laval AB, Baker Hughes Co., Bosch Rexroth AG, Flowserve Corp., Grundfos Holding AS, ITT Inc., SPX FLOW Inc., Sulzer Ltd., The Weir Group Plc, and Xylem Inc.
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