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The positive displacement pumps market share is expected to increase by USD 2.91 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 5.37%.
This positive displacement pumps market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers positive displacement pumps market segmentations by product (rotary pumps and reciprocating pumps), end-user (oil and gas, water and wastewater, chemical and petrochemical, and others), and geography (APAC, Europe, North America, South America, and MEA). The positive displacement pumps market report also offers information on several market vendors, including Alfa Laval AB, Baker Hughes Co., Bosch Rexroth AG, Flowserve Corp., Grundfos Holding AS, ITT Inc., SPX FLOW Inc., Sulzer Ltd., The Weir Group Plc, and Xylem Inc. among others.
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The developments in the water and wastewater industry is notably driving the positive displacement pumps market growth, although factors such as volatility in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the positive displacement pumps industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Positive Displacement Pumps Market Driver
The developments in the water and wastewater industry is one of the key drivers supporting the positive displacement pumps market growth. However, the resurgence of investments in the oil and gas sector can also drive market growth. Currently, around eight major expansion projects are in the pipeline in Middle East countries alone, which includes crude distillation unit (CDU) expansions and the addition of gasoline units, aromatic complexes, and desulphurization units in existing refineries. All these projects are slated for completion within the forecast period. Positive displacement motors, such as reciprocating and twin-screw multiphase pumps, also find use in the transportation of crude oil and slurries through pipelines. Thus, the growth in the oil and gas industry is expected to propel the market growth during the forecast period.
Key Positive Displacement Pumps Market Trend
Rising demand for pump repair and remanufacturing from high-performance applications is another factor supporting the positive displacement pumps market growth. Pumping systems in large-scale and critical applications, such as offshore oil and gas, chemical processing, and petrochemicals, can make up a significant part of the overall cost of investment. Many end-users find the replacement of these components very costly and are, therefore, likely to opt for repair or remanufacture of these components. The cost associated with the replacement of all the components may be quite high and represents a huge cost burden for the machine operator/owner. In such cases, laser cladding techniques are often used by owners to repair or extend the lifespan of the component. Such a reduction in price will drive market growth during the forecast period.
Key Positive Displacement Pumps Market Challenge
The volatility in raw material prices is one of the factors hindering the positive displacement pumps market growth. Fluctuating prices of raw materials result in varying prices of positive displacement pumps made by the same vendors. This is owing to the adoption of a low pricing strategy, which could help vendors in attaining an appropriate return on their investments. This makes it very tough to justify the pricing strategy of the same version of it to end-users. Thus, any unanticipated fluctuations in raw material prices put pressure on vendors as an unexpected price rise can affect their overall profit margin. Purchasing bulk volumes of raw materials escalate inventory costs and the overall production costs. This can lead to a decrease in the sale of positive displacement pumps, thus, impacting the growth of the market during the forecast period.
This positive displacement pumps market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the positive displacement pumps as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the positive displacement pumps market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the positive displacement pumps market encompasses successful business strategies deployed by the key vendors. The positive displacement pumps market is fragmented and the vendors are deploying growth strategies such as price, project management, delivery timeline, aftermarket maintenance and services, and previous engagement with the pump manufacturer to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The positive displacement pumps market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the positive displacement pumps market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the industrial machinery market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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47% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for positive displacement pumps market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Growing industrialization will facilitate the positive displacement pumps market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of the COVID-19 pandemic has affected the growth of several industries in the region, including the oil and gas industry, power, and construction, as several construction projects were put on hold, owing to the lockdown measures implemented by the government to ensure public safety. However, with the decline in regulations from the government, the market might raise during the forecast period.
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The positive displacement pumps market share growth by the rotary pumps segment will be significant during the forecast period. The market for rotary pumps is expected to grow faster than the reciprocating pumps market due to their simpler design and lower cost, which is pushing their adoption among end-users. They are generally used in applications where the viscosity of the fluid to be pumped is high or the volume of fluid to be displaced is very low. Such factors will drive the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the positive displacement pumps market size and actionable market insights on post COVID-19 impact on each segment.
Sanitary Pumps- The market share is expected to increase by USD 464.56 million from 2021 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.94%.
Screw Pumps- The market share is expected to increase by USD 1.05 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.43%.
Industrial Peristaltic Pumps- The market share is expected to increase by USD 520.02 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.05%.
Positive Displacement Pumps Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.37% |
Market growth 2020-2024 |
$ 2.91 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.18 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 47% |
Key consumer countries |
China, US, Germany, Japan, and Russian Federation |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Alfa Laval AB, Baker Hughes Co., Bosch Rexroth AG, Flowserve Corp., Grundfos Holding AS, ITT Inc., SPX FLOW Inc., Sulzer Ltd., The Weir Group Plc, and Xylem Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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