The global Industrial Pumps market is forecast to reach USD 95.09 Billion by 2030, according to a new report by Reports and Data. Reciprocating Pumps find their application in various sectors and help in mainly transferring liquids from one location to another.
Technological trends like the introduction of magnetic drive Reciprocating Pumps, intelligent pump systems, and next-generation industrial automation are boosting the growth of this market. Rapid infrastructural development is another driving factor. APAC countries are witnessing rapid construction which in turn is boosting the market for Reciprocating Pumps. Demand for Reciprocating Pumps from the process and manufacturing industries is a significant driving factor. The rise in product energy Reciprocating Pumps for the transportation and extraction of oil and natural gas is having a positive effect on the market. An increase in crude oil price is also boosting the demand for the market as it fuels the energy sector’s revenue.
Growing construction, automotive, and manufacturing industries are expected to raise the demand for Reciprocating Pumps in the Asia Pacific region. The Indian government has passed a policy for the promotion of FDI investment in the oil and gas sector. This will increase the production of petrochemicals and polymers in the country, hence propelling the demand in this region. Increased investment in desalination plants and wastewater is also expected to increase the sale of Reciprocating Pumps. Reciprocating Pumps are also in high demand from the power generation sector.
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The global materials & chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty & personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food & beverage industries, buildings & construction, automotive, packaging, and manufacturing industries. Other major factors driving the growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials.
Top Key Players: Flowserve Corporation (U.S.), Grundfos Holding A/S (Denmark), ITT Inc. (U.S.), Suzler Ltd. (Switzerland), Titan Manufacturing Inc. (U.S.), Ebara Corp. (Japan), Weir Group PLC (Scotland), Schlumberger Ltd. (U.S.), Baker Hughes Inc. (U.S.), and Clyde Union Inc. (Scotland) among others.
Type Outlook (Revenue, USD Million; 2019-2030)
- Reciprocating Pumpss
- Reciprocating Reciprocating Pumps
- Rotary Reciprocating Pumps
- Diaphragm Reciprocating Pumps
Capacity Outlook (Revenue, USD Million; 2019-2030)
- Small Capacity Reciprocating Pumps
- Medium Capacity Reciprocating Pumps
- High Capacity Reciprocating Pumps
End Users Outlook (Revenue, USD Million; 2019-2030)
- Water and wastewater
- Oil & Gas
- Power Generation
Regional analysis covers:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Reasons for Buying this Report:
- The report focuses on market share, market size, revenue share, industry growth rate, regional bifurcation, and overall industry outlook.
- The study provides a pinpoint analysis of changing competitive dynamics.
- The report helps readers in understanding the product segments and their future growth.
- Analysts in this research report can quickly expand their business by focusing on various business and market strategies.
- It helps in making informed business decisions by having complete insights into the market and by making in-depth analyses of market segments.
- PEST analysis of the market in the five major regions.
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