The global positive displacement pumps market is expected to grow at a CAGR of more than 4.2% over the period of 2020-2025. Factors such as increasing environmental awareness, spiraling costs, and shrinking resources, a large number of water-dependent industries are deploying water treatment systems to improve reliability, enhance profitability, and maintain the sustainability of their operations are driving the positive displacement pump market. Moreover, the recovery in the oil and gas industry post the decline period is bolstering the demand for positive displacement pumps due to increased activities, especially in North America. However, rising raw material cost and issues with maintenance of positive displacement pump is expected to restrain the market during the forecast period.
- Reciprocating pumps segment is expected to be the largest segment during the forecast period and drive the demand for positive displacement pumps, owing to increasing number of its applications which are widening in water treatment, oil and gas, chemical, and other industries.
- Governments in Asia-Pacific have introduced strict policies and regulations regarding wastewater treatment, in both the municipal and industrial sectors. The operators are required to deploy water treatment units in their facilities, as an attempt to overcome water scarcity challenges. So, wastewater treatment is expected to create ample opportunities for the positive displacement pumps market in the near future.
- Asia-Pacific is expected to be the largest and the fastest growing market during the forecast period due to an increase in industrial activities, particularly in China and India.
Key Market Trends
Reciprocating Pumps to Dominate the Market
- Reciprocating pumps can have an efficiency greater than 90% during low-flow/high-head service, whereas centrifugal pumps can only have an efficiency as low as 40%. As a result, a reciprocating pump allows end users to achieve considerable power savings.
- These pumps are used for a wide range of industrial applications that include high-pressure water blasting, seawater reverse osmosis, cleaning and cutting, mine de-watering, metal de-scale, hydraulic charge, hydrostatic test, chemical processing, and pressure mixing.
- It is also used in oilfields, both onshore and offshore, to satisfy a wide range of pumping services, including methanol injection, high-pressure seawater injection, and disposal, blowout preventer charge pumps, subsea hydraulic systems, gas processing systems for dehydration, and gas sweetening.
- The present complex refining process involving extreme temperature, high pressure, and the ability to handle volatile fluids has resulted in a demand for specialized pumps. As a result, the manufacturers have invested significantly in the past few years, to offer specialized reciprocating pumps to the industry. Hence, the positive displacement pumps market is expected to be promulgated during the forecast period.
Asia-Pacific to Dominate the Market
- In Asia-Pacific, countries like India and China, are witnessing increase in industrial activities, thereby, inducing growth in demand for crude oil, chemicals, and pharmaceuticals, among others. In 2018, the region accounted for about 35.9% of the global crude oil consumption and witnessed a growth of approximately 3.0%.
- The market studied has witnessed significant growth in China, due to its rapid industrialization and economic progress in the past. The robust industrial infrastructure in the country offers widespread opportunities for the positive displacement pump business.
- Additionally, under the 13th Five-Year-Plan (2016-2020), the government has planned to invest RMB 559 billion in the water treatment industry, a large part of which is allocated for new sewage piping projects. This is likely to contribute to the market demand for positive displacement pumps.
- In India, as per the NITI Aayog, around 70% of water resources in India are contaminated, and the country is placed at the 120th position among 122 countries in the water quality index. Between 2012 and 2017, the number of polluted stretches in Indian rivers has doubled in only five years. Hence, with new governmental initiatives in India to reduce water contamination and deliver safe drinking water to people is expected to drive the number of water treatment plants, which, in turn, is expected to boost the demand for positive displacement pumps market during the forecast period.
The positive displacement pumps market is fragmented. Some of the key players in the market include Flowserve Corp., Sulzer AG, KSB SE & Co. KGaA, Xylem Inc., and NETZSCH Holding.
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1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.2 End-User Industry
5.2.1 Oil and Gas
5.2.2 Power Generation
5.2.3 Water and Wastewater
5.3.1 North America
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Ampco Pumps Company Inc.
6.3.2 Flowserve Corp.
6.3.3 Grundfos A/S
6.3.4 ITT Inc.
6.3.5 KSB SE & Co. KGaA
6.3.6 LEWA GmbH
6.3.7 NETZSCH Holding
6.3.8 Pentair PLC
6.3.9 SPX Flow Inc.
6.3.10 Sulzer AG
6.3.11 Xylem Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.