POSITIVE DISPLACEMENT PUMPS MARKET ANALYSIS

A positive displacement pump moves a fluid by repeatedly enclosing a fixed volume with the help of valves or seals and moving it mechanically through the system. These types of pumps have high capability of high-pressure development from low operating suction pressures, where the flow rate is controlled on the basis of speed variation and by recycling of feed material. The positive displacement pumps have their major scope of application in the industrial process as well as operations that are involved in the energy and utility sectors.

The global positive displacement pumps market is estimated to be valued at US$ 2,658.7 million in 2021 and is expected to exhibit a CAGR of 4.9% over the forecast period (2021-2028).

Recent Developments:

1. In January 2021, Packo Inox Ltd developed the ZLC rotary lobe positive displacement pump. The new ZLC is the ideal process pump for the most demanding sterile applications in the pharmaceutical, biotech and cosmetic industries.
2. On June 24, 2021, PSG, an operating company of Dover Corporation, completed the acquisition of Quantex Arc Ltd., a leading developer and supplier of single-use positive displacement pump technology.
3. In March 2021, IDEX Corporation completed the acquisition of Abel Pumps, a manufacturer of highly engineered reciprocating positive displacement pumps for a variety of end markets, including mining, marine, power, water, wastewater and other general industries.

Asia Pacific held dominant position in the global positive displacement pumps market in 2020, accounting for 33.4% share in terms of value, followed by Europe and North America, respectively.

Figure 1. Global Positive Displacement Pumps Market Value (US$ Mn), by Region, 2020

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Market Dynamics- Drivers

Increasing water & wastewater treatment sector is expected to drive growth of the global positive displacement market during the forecast period. The rapid development of civic water utility infrastructure in emerging regions such as Latin America & Asia Pacific has led to increased demand for positive displacement pumps. The demand for sewage treatment has increased massively in both public and industrial sectors with increased number of pumping units installed base. Technologies such as desalination and ZLD (zero-liquid discharge) is expected to boost the market for positive displacement pumps market in civic and industrial sectors.

Continuous demand from the oil & gas industry is expected to propel the global positive displacement market growth over the forecast period. Regardless of the slow trend in supply & demand of material prices, the oil & gas sector is expected to register massive demand for positive displacement pumps over the forecast period. This is owing to continuous investments in shale gas across the globe. Growing focus on setting up micro-liquefied natural gas terminals significantly resulting in the lower value of investments by oil producers has led to high demand for positive displacement pumps.

Market Opportunities

With market saturation experienced by positive displacement pumps in chemicals, power, pulp & paper etc., advanced prototypes have been designed by pump manufacturers to expand the scope of application in new fields such as cryogenics in aerospace and the use of medical gases in the healthcare sector. The cryogenic pump market is anticipated to witness a steady growth rate with a similar growth pattern to the global positive development pumps market.

The investments and development related to water and wastewater treatment for civic and industrial utilities have been undertaken by the local government bodies as well as private entities in countries such as Argentina, Colombia in Latin America; India, and ASEAN countries in Asia Pacific as well as Sub-Saharan Africa. Investments in the oil & gas sector such as shale gas exploration, liquefied natural gas in Latin American regions are also expected to provide demand for positive displacement pumps.

Market Trends

Major companies in the market are focused on strategic alliances, in order to enhance the market presence. The industry is witnessing strategic alliances by pump manufacturers with regional OEMs, distributors, and suppliers to leverage their market presence in desired regions. For instance, in 2015, Sulzer AG entered into a joint venture agreement with Saudi Pump Factory in Riyadh and Unaoil Group in Iraq order to strengthen its presence in the Middle East.

With the limited market size and a high degree of competition in the global positive displacement pumps, the global and regional pump manufacturers are focusing on product differentiation by introducing new prototypes having high efficiency, flexibility under varied operating loads, customizable at an economical price. The product coupled with value-added services such as product installation, training, and after-sales services are been undertaken the manufacturers.

Figure 2. Global Positive Displacement Pumps Market Share, By Product Type, 2020

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Key Takeaways of the Graph:

• The reciprocating pumps held dominant position in the market and accounted for 70.7% share in the global positive displacement pumps market in 2020. The segment is expected to reach US$ 2,554.4 million in 2028. This is owing to increasing applications of reciprocating pumps in water treatment, oil and gas, chemical industry, and other industries.

Market Dynamics- Restraints

Market saturation in conventional end-use industries is expected to restrain growth of the global positive displacement pumps market during the forecast period. Since the design of positive displacement pumps is efficient in terms of design, the replacement rate among end users is significantly low. This, in turn, has resulted in the saturation of the market. Moreover, the moderate growth in conventional end-use industries such as chemicals, food & beverages, mining, etc. has resulted in minimal demand generation of positive displacement pumps.

High market share of centrifugal pumps is expected to hinder the global positive displacement pumps market growth over the forecast period. Centrifugal pumps have a comparatively higher market share than the positive displacement pumps market globally. This is typically due to performance characteristics coupled with its extended scope of end use applications makes it a preferred choice over positive displacement pumps. Moreover, in terms of product cost, centrifugal pumps are relatively inexpensive as compared to positive displacement pumps.

Competitive Section

Major companies operating in the global positive displacement pumps market are KSB AG, Ruhrpumpen Group, Flowserve Corporation, Dover Corporation, Sulzer AG, Xylem Inc., Grundfos, WILO SE, Ebara Corporation, and The Weir Group plc.

Key Developments

For instance, in September 2020, Blackmer, a subsidiary of Dover Corporation, introduced MAGNES series sliding vane magnetic drive pumps