Reciprocating Pumps Market Players Contribute Majorly towards Innovative Trends through 2018 to 2027
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.
The reciprocating pumps market report highlights the following players:
- The Weir Group PLC
- Flowserve Corporation
- Peroni Pompe S.p.A.
- Pump Solutions Group
The reciprocating pumps market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail. 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.
Asia Pacific Largest Market for Reciprocating Pumps Market, followed by North America
The demand for reciprocating pumps is likely to grow significantly in the APEJ region, with total sales expected to surpass US$ 1,000 million by the end of 2018. China and India are among the most attractive markets for reciprocating pumps in APEJ. Reciprocating pump sales in APEJ are likely to benefit from macroeconomic trends, notably growing investment in energy generation. The Government of India is adopting several policies to meet the increasing demand for oil and gas in the country. The gas pipeline infrastructure is also growing with the rise in manufacturing units and facilities in India. With the government allowing 100% FDI in natural gas, refineries, and petroleum products, foreign investors have started investing in refineries and petrochemicals projects in India.
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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.
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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.