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)
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Oil & Gas
- Water Treatment
- Food & Beverages
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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