Positive Displacement Pumps Market Is Expected To Reach USD 4.82 Billion By 2028
The global positive displacement pumps market size is expected to reach USD 4.82 billion by 2028 and register a revenue CAGR of 4.7%, according to the latest report by Reports and Data. Increasing exploration and production activities in oil and gas sector and need to enhance oil recovery procedures are key factors driving demand for positive displacement pumps, and this expected to continue to boost market revenue growth over the forecast period. Positive displacement pumps are vital components in the oil & gas sector and are often deployed in tri-phase or multi-phase pumping applications.
Increasing oil and natural gas exploration activities, especially in North America, is expected to drive demand for positive displacement pumps over the forecast period. Positive displacement pumps, which transfer a specific volume of fluid for each operation cycle, can be segregated into two main classes; reciprocating and rotary. Positive displacement pumps can efficiently remove air present along the lines of fluid and this has boosted its adoption in the food and beverages industry. Additionally, increasing demand for commercial and industrial positive displacement pumps from power, pharmaceuticals, and chemicals industries is expected to further drive market growth going ahead.
However, complexity of pump design and its maintenance as compared to centrifugal pumps is expected to restrain market growth to a significant extent over the forecast period. Major disadvantage of complex design and valve construction could hamper preference and restrain market growth to a certain extent over the forecast period.
Get a sample copy of the positive displacement pumps Market report, visit: https://www.reportsanddata.com/sample-enquiry-form/4094
Some Key Highlights From the Report:
- Positive displacement pumps transport liquids by continuously enclosing a specific volume and moving it automatically across the system. Displacement of fluid is generally done by piston, plunger, diaphragm, gears, or vanes, among others.
- Reciprocating pump segment is expected to account for a significant revenue share in global market over the forecast period owing to rising application in various end-use industries such as in water and wastewater treatment, power, oil & gas, and food and beverages, among others.
- Oil & gas segment revenue is expected to expand significantly over the forecast period, attributable to increased use of positive displacement pumps for various processing of oil & gas production such as in pumping stations, pipelines, subsea hydraulic systems, gas sweetening, and for other onshore and offshore applications.
- Asia Pacific market revenue is expected to expand considerably over the forecast period, attributable to increasing demand for these pumps from various end-use industries such as chemicals, mining, power, and water & wastewater. Rapid expansion of power and chemicals industries and rapid urbanization are some other factors supporting regional market revenue growth.
- Major companies in the market include Schlumberger Ltd., HERMETIC-Pumpen, Pentair, Baker Hughes, Flowserve, Grundfos, AR North America, KSB, and Sulzer, among others.
- In March 2021, IDEX Corporation gained a controlling stake in ABEL Pumps, LP, which is a leading designer and manufacturer of reciprocating positive displacement pumps. ABEL Pumps will be a part of IDEX Corporation’s Fluid and Metering Technologies segment.
To know more about the latest insights of the report, visit: https://www.reportsanddata.com/request-latest-insight/4094
For the purpose of this report, Reports and Data has segmented the global positive displacement pumps market based on product, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Oil & Gas
- Water Treatment
- Food & Beverages
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Request a customization of the report: https://www.reportsanddata.com/request-customization-form/4094
Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.