The global reciprocating pumps market is estimated at USD 7.1 Billion in 2022 and is forecast to surpass USD 13.5 Billion by 2032, growing at a CAGR of 6.6% during 2022-2032.
Reciprocating pumps market is projected to witness a significant growth, according to a latest report by Fact.MR. The reciprocating pumps market growth is being influenced by rising demand for oil and gas worldwide, especially in the petrochemical industry. The growing oil and gas demand is creating substantial opportunities for a range of industrial goods, including reciprocating pumps.
Reciprocating pumps are also being deployed for pumping fluid in wells at high pressure for fracking process and to transfer extracted oil and gas to the processing facility.
Reciprocating pump sales are also influenced by prevailing trends, including steadily growing adoption of smart pumping systems. Sensing the evolving trends, reciprocating pump manufacturers are focusing on integrating sensors in the pumps to capture various parameters including liquid levels, temperature, and pressure.
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Growth in Chemicals Industry Accelerating Demand for Diaphragm Pumps
According to Fact.MR's analysis, demand for diaphragm pumps are likely to remain the preferred choice among end-users owing to their enhanced features, such as flexibility and isolation of the fluid chamber. Fact.MR estimates global sales of diaphragm pumps to surpass 2,000,000 units by the end of 2018. Increasing production of aggressive chemicals is resulting in the surging demand for Air Operated Double Diaphragm (AODD) pumps.
Electric double diaphragm pump combining energy-saving benefits of electric device with the diaphragm pump technology has also been introduced for chemical pumping application. Large adoption of this technology is expected in the chemical sector in the near future as it helps in reducing operating cost and energy consumption.
The reciprocating pumps across industries are used and run at a very low speed as compared to the centrifugal pumps. The biggest reason is to protect and increase packing and sealing life of the machine. Manufacturers in various industries use reciprocating pumps with the flow rate of up to 100 m³/h thereby improving reliability and increasing plunger life.
The overall outlook of the reciprocating pumps market is anticipated to be positive. The demand for reciprocating pumps is expected to expand at a 5.6% CAGR in terms of value throughout the forecast period, 2018-2027.
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Competitive Landscape: Top Companies in Reciprocating Pumps Market
The global reciprocating pumps market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced reciprocating pumps.
Fact.MR has provided detailed information about price points of top manufacturers of reciprocating pumps market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance: During 2019 beginning, Grundfos opened a new facility in US. The company plans to serve the wastewater industry by providing its leading technical solutions. This new facility is opened in Florida with an aim to grow as a distribution hub for water and wastewater pumps, controls, and other accessories manufactured by this company providing.
Key Companies Profiled
· Xylem Inc.
· Flowserve Corporation
· The Weir Group PLC
· Alfa Laval AB
· SPX Flow Inc.
· IDEX Corporation
· LEWA GmbH
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Global Reciprocating Pumps Market Segments
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