Pune, May 20, 2020 (GLOBE NEWSWIRE) -- The global positive displacement pumps market size is projected to reach USD 11.25 billion by the end of 2027. Increasing hydrocarbon exploration activities will emerge in favor of the growth of the overall market. According to a report published by Fortune Business Insights, titled “Positive Displacement Pumps (PDP) Market Size, Share & Industry Analysis, By Type (Reciprocating Pumps, Rotary Pumps, Peristaltic Pumps), By End-user (Water & Wastewater, Mining, Oil & Gas, Chemicals, Power Generation, Food & Beverage, Others), and Regional Forecast, 2020-2027,” the market was worth USD 6.90 billion in 2019 and will exhibit a CAGR of 6.9% during the forecast period, 2019-2027.
Positive displacements pumps are widely used in applications across diverse industry verticals. They are primarily used to discharge the fluids that are trapped in the discharge pipe. They operate with the help of high pressure and density that moves the fluid within the discharge pipe. The increasing adoption of the product is attributable to the exceptional features that it possesses, specifically operational efficacies. Positive displacement pumps (PDP) are used in extraction of hydrocarbons. The surge in popularity of hydrocarbons and the massive efforts taken to maximize production and extraction of hydrocarbons will emerge in favor of the companies operating in the market. The integration of modern concepts and advanced solutions within these devices will contribute to the growth of the overall market in the forthcoming years.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Increasing Number of Product Launches Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The massive demand for hydrocarbons has led to an increase in energy harnessing and production activities across the world. Companies are looking to capitalize on this by introducing newer products to the market. In March 2019, Alfa Laval announced the launch of a new screw pump under its portfolio of hygienic pumps. The company introduced a new twin screw rotary pump, a production that is able to deliver optimum solids handling capacity. Additionally, the product will offer improved efficacy and performance as well as low suction. The company claims that the product is suitable to be used in diverse industry verticals including food and beverage, dairy, and personal care. Alfa Laval’s latest product will have a positive impact on the growth of the overall market in the foreseeable future.
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Asia Pacific Likely to Emerge Leading; Increasing Hydrocarbon Exploration Activities Will Aid Growth
The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in Asia Pacific is projected to account for the highest market share in the coming years. The increasing number of hydrocarbon exploration activities, owing to the excessive demand for energy and power, will aid the growth of the regional market. Besides, the need for sustainable energy management will also constitute an increase in the regional market size. The presence of several large scale companies in countries such as India, China, and Japan will favor the growth of the market in Asia Pacific. As of 2019, the market in Asia Pacific was worth USD 2.09 billion and this value is projected to increase further in the coming years. The market will witness stagnancy in 2019 and 2020 due to the emergence of Covid-19 pandemic and subsequent shutdown in production and manufacturing.
List of Key Companies Profiled in the Positive Displacement Pumps Market Research Report are:
- The Weir Group PLC (Scotland)
- Atlas Copco (Sweden)
- GRUNDFOS (Denmark)
- Flowserve Corporation (U.S.)
- Sulzer (Switzerland)
- Xylem (U.S.)
- SPX FLOW, Inc. (U.S.)
- Lakeside Equipment Corporation (U.S.)
- Alfa Laval (Sweden)
- Dover Corporation (U.S.)
- Pentair (UK)
- Tsurumi Pump (Japan)
Industry Developments:
- March 2019 – Alfa Laval announced the launch of a new twin-screw pump under its hygienic pump portfolio. The product can perform easy clean-in-place and fluid transfer operations.
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Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Pump Industry
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Positive Displacement Pumps (PDP) Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Reciprocating Pumps
- Rotary Pumps
- Peristaltic Pumps
- Market Analysis, Insights and Forecast – By End-user
- Water & Wastewater
- Mining
- Oil & Gas
- Chemicals
- Power Generation
- Food & Beverage
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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