Positive Displacement Pumps Market Size, Key Market Players, SWOT, Revenue Growth Analysis, 2020–2028
Increasing demand for and application of positive displacement pumps in various end-use industries such chemicals, power, mining, and water & wastewater, among others is a key factor driving market growth
Market Size – USD 3.36 Billion in 2020, Market Growth –
at a CAGR of 4.7%, Market Trends – increased E&P activities in oil and gas
industry and enhanced oil recovery
The global Positive
Displacement Pumps Market size is expected to reach USD 4.82 billion
by 2028 and register a revenue CAGR of 4.7%, according to the latest report by
Reports and Data. Increasing exploration and production activities in oil and
gas sector and need to enhance oil recovery procedures are key factors driving
demand for positive displacement pumps, and this expected to continue to boost
market revenue growth over the forecast period. Positive displacement pumps are
vital components in the oil & gas sector and are often deployed in
tri-phase or multi-phase pumping applications.
Increasing oil and natural gas exploration activities,
especially in North America, is expected to drive demand for positive
displacement pumps over the forecast period. Positive displacement pumps, which
transfer a specific volume of fluid for each operation cycle, can be segregated
into two main classes; reciprocating and rotary. Positive displacement pumps
can efficiently remove air present along the lines of fluid and this has
boosted its adoption in the food and beverages industry. Additionally,
increasing demand for commercial and industrial positive displacement pumps
from power, pharmaceuticals, and chemicals industries is expected to further
drive market growth going ahead.
Major companies in the market include Schlumberger Ltd.,
HERMETIC-Pumpen, Pentair, Baker Hughes, Flowserve, Grundfos, AR North America,
KSB, and Sulzer, among others.
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Some Key Highlights From the Report:
- Positive
displacement pumps transport liquids by continuously enclosing a specific
volume and moving it automatically across the system. Displacement of
fluid is generally done by piston, plunger, diaphragm, gears, or vanes,
among others.
- Reciprocating
pump segment is expected to account for a significant revenue share in
global market over the forecast period owing to rising application in
various end-use industries such as in water and wastewater treatment,
power, oil & gas, and food and beverages, among others.
- Oil
& gas segment revenue is expected to expand significantly over the
forecast period, attributable to increased use of positive displacement
pumps for various processing of oil & gas production such as in
pumping stations, pipelines, subsea hydraulic systems, gas sweetening, and
for other onshore and offshore applications.
- Asia
Pacific market revenue is expected to expand considerably over the
forecast period, attributable to increasing demand for these pumps from
various end-use industries such as chemicals, mining, power, and water
& wastewater. Rapid expansion of power and chemicals industries and
rapid urbanization are some other factors supporting regional market
revenue growth.
To identify the key
trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/positive-displacement-pumps-market
For the purpose of this report, Reports and Data has
segmented the global positive displacement pumps market based on product,
end-use, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Reciprocating
- Rotary
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Oil
& Gas
- Chemical
- Water
Treatment
- Pharmaceutical
- Food
& Beverages
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- Middle
East & Africa
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