Oil & gas segment is anticipated to witness moderate growth in the North America positive displacement pumps market
With centrifugal pumps having a high volume-high growth market, compared to positive displacement pumps, their superior performance characteristics and extended scope of end-use applications makes them a preferred choice for pumping purposes. In terms of product costs, centrifugal pumps are relatively inexpensive as compared to positive displacement pumps. A latest report published by Future Market Insights also projects that in the years to come, the global sales of positive displacement pumps will be relatively less than that of centrifugal pumps.
According to the report projections, nearly 3 million positive displacement pumps were sold in the world in 2016. By the end of 2026, global sales of positive displacement pumps are expected to surpass 4.2 million units, registering a moderate growth at 3.3% CAGR. During the same forecast period, the report anticipates the global positive displacement pump market, which is presently valued at US$ 2,212.5 Mn, to soar at 4.2% CAGR and bring in close to US$ 3,500 Mn in revenues. The report has profiled companies such as – Dover Corporation, KSB AG, Flowserve Corporation, Sulzer AG, Ebara Corporation, Xylem Inc., Ruhrpumpen Group, Grundfos, The Weir Group PLC, and WILO SE – as leading manufacturers of positive displacement pumps in the world.
Future Market Insights’ report on global positive displacement pump market also observes the market’s saturation in conventional end-use industries as one of its major growth restraint. Pumps designed for high efficiency are expected to garner great demand, hindering the sales of positive displacement pumps due to low product replacement rate amongst end-users. The marginal decline of pump sales caused by this is lowering the outcomes from OEMs and aftermarket sales channels.
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Moreover, moderate growth in conventional end-use industries such as chemicals, food & beverages, mining etc. has generated insignificant demand for positive displacement pumps. Nevertheless, growing water & wastewater treatment sectors in various parts of the world, expansion of power generation industry, favourable government directives, and sustaining demand for pumps in oil & gas industry are factors compiled the report as key drivers for growth of global positive displacement pumps market.
Key Highlights of the Report include
Demand for rotary pumps is projected to remain considerably lower than reciprocating positive displacement pumps, as the latter will procure over 70% stake on global revenues through 2026.
Among reciprocating pumps, demand for low-capacity and medium-capacity pumps will remain high, exhibiting growth at 4.5% CAGR and above
In 2016, the global market for positive displacement pumps recorded global sales of over 630,000 low-capacity rotary pumps
Throughout the forecast period, oil & gas will remain the largest application of positive displacement pumps, procuring nearly US$ 830 Mn in revenues by 2026-end
Application of positive displacement pumps in water and wastewater treatment plants will also be considered lucrative growth opportunity in the years to come
With a little over 23%, North America’s positive displacement pumps market will be among the leading regional markets in the world
Europe will also be at the forefront, but the region’s share on global revenues will wane towards the latter half of the forecast period
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Asia-Pacific excluding Japan (APEJ) region is being projected as the largest market for positive displacement pumps, procuring over 26% share on global market value and registering fastest revenue growth at 4.7% CAGR during the forecast period