Positive Displacement Pumps Market to Reach US$ 4.12 Bn by 2023
According to a new market report published by Brisk Insights, “Positive Displacement Pumps Market (By End-use Application (Oil and Gas, Chemicals, Water and Wastewater, Food and Beverage, Pharmaceutical, Power Generation, and Other End-use Applications), By Product (Rotary Pumps((Gear Pumps, Lobe Pumps, Vane Pumps, and Progressing Cavity/Multiple Screw Pumps)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023”, the global positive displacement pumps market is expected to witness steady growth, expanding at a CAGR of 5.5% during the forecast period 2016 to 2023.
Browse the full Positive Displacement Pumps Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at https://www.briskinsights.com/report/positive-displacement-pumps-market
A positive displacement pump is a type of industrial pump used to displace or transfer fluid from the inlet pressure division into the discharge tube/pipe. Unlike centrifugal pumps, positive displacement pumps transfer fluids at the same speed irrespective of the pressure. Although centrifugal pumps are the dominant variants, the popularity of positive displacement pumps is on an upsurge. This has mainly to do with their high viscosity performance, compact design, ability to manage high differential pressure, and allow continual flow despite differential pressure. Regulated demand from the oil and gas sector coupled with growing demand for energy efficient pumps is expected to drive demand for positive displacement pumps during the forecast period 2016 – 2023.
The global market for positive displacement pumps is comparatively more competitive than centrifugal pumps. Some of the prominent manufacturers involved in the global positive displacement pumps include Flowserve Corporation, Grundfos Holding, KSB Pumps Ltd., Suzler Ltd., and ITT Goulds Pumps. Inorganic expansion through strategic partnerships and acquisitions remains the cut-throat strategy for pump manufacturers across different geographies. While expansion through partnerships has allowed leading manufacturers to strengthen their product portfolio and geographic presence, small and medium-sized manufacturers have been benefitted from leveraging resources and distribution network of established players. In view of future prospect demand, manufacturers are increasingly setting up manufacturing facilities and distribution hubs in Asia Pacific and Latin America. In addition, focus on developing innovative and energy efficient positive displacement pumps bodes well for sustaining market position. The manufacturers are striving to offer complete turn-key solutions and after sales support services. Other manufacturers including Baker Hughes Incorporated, Ebara Corporation, Verder Group, Schlumberger Ltd, Pentair LLC, Del PD Pumps & Gears Ltd., HERMETIC-Pumpen GmbH, IDEX Corporation, Coalfax Corporation, and Weir Group have been marked as the promising and emerging players in the research study.
Geography and End-use Insights
Asia Pacific represents the largest and most lucrative positive displacement pumps market led by the growing demand from China and India. Growing industrialization, infrastructural development, and substantial investments in utility projects such as wastewater treatment and recycling is expected to propel demand for positive displacement pumps in the region. All these factors are expected to create multitude of business opportunities for pump manufacturers in the coming years. In terms of end-use, the oil and gas segment led the global positive displacement pump market. However, with steady decline in the oil prices and slowing exploration activities in the sale gas sector, demand for positive displacement pumps in this segment has slowed down considerably.