POSITIVE DISPLACEMENT PUMPS MARKET ANALYSIS

Positive Displacement Pumps Market Size and Trends

Global positive displacement pumps market is estimated to be valued at US$ 18.94 Bn in 2024 and is expected to reach US$ 26.04 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.

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Positive displacement pumps function by entrapping a fixed amount of fluid and pumping it with 100% volumetric efficiency. These pumps are used extensively across various industries like oil & gas, chemical, water & wastewater, and are suitable for high viscosity fluids and solids handling applications. The Global Positive Displacement Pumps market is expected to witness steady growth driven by growing oil & gas industry and increasing demand for water & wastewater management. Moreover, rising investments in process industries for production enhancements coupled with demand for solids handling capabilities of positive displacement pumps will further support the market growth during the forecast period.

Market Driver - Increasing demand for efficient fluid handling in various industries

With increasing industrialization, the need for efficient fluid handling has gained immense importance. Various industries such as chemicals, petroleum, food and beverage, pharmaceuticals, and others rely heavily on precise fluid transfer systems. Positive displacement pumps play a pivotal role in these industries as they can transfer highly viscous liquids and slurries with utmost accuracy. These pumps are also suitable for transferring dangerous and hazardous fluids given their enclosed construction which prevents leaks.

Over the past few years, there has been considerable rise in manufacturing activities across major developing regions. The chemical industry in particular has expanded rapidly in countries such as China, India, Brazil, and others owing to growing domestic demand for chemicals from sectors like construction and automotive. This has augmented the production of bulk chemicals, specialty chemicals and life science chemicals globally. Since precise dosing and metering of chemicals is critical in these industries, demand for positive displacement pumps has increased substantially. Their self-priming capability allows these pumps to transfer chemicals efficiently from storage tanks to reaction vessels without losing pressure.

Similarly, the global pharmaceutical industry has witnessed steady growth on the back of increasing healthcare spending and demand for generics. Large pharmaceutical companies are continuously expanding and setting up new production facilities, which involve extensive fluid transfer networks for manufacturing and processing activities. Positive displacement pumps play a vital role in critical pharmaceutical applications such as isolation of chemical intermediates, precise dosage of reagents, heat transfer, and temperature control. Their seal-less and chemically resistant designs make them suitable for handling even highly corrosive and complex pharmaceutical formulations.

Growing Investments in Oil and Gas Exploration and Production

The oil and gas sector has been witnessing sizable investments over the past few years driven by rising energy demand worldwide coupled with volatility in crude oil prices. Significant capital is being channeled into upstream exploration and production activities aimed at replenishing depleting reserves and boosting existing output. The advent of unconventional oil and gas extraction technologies has opened up massive untapped reserves and revived investments in previously considered mature fields as well.

On the exploration front, oil companies supported by national oil companies are investing heavily into high-risk, deep-water and Arctic exploration projects to discover major new fields. Setting up offshore drilling rigs and platforms in remote ultra-deepwater locations involves deployment of an extensive network of sophisticated pumps for fluid transfer needs. Positive displacement pump varieties including plunger pumps and progressive cavity pumps have become indispensable for offshore drilling operations due to their fuel-efficiency, ability to handle slurries and greater reliability in corrosive marine environments.

For instance, in March 2023, KSB Limited, a prominent supplier of pumps, valves, and systems, acquired proprietary technology from Bharat Pumps and Compressors Ltd. (BP&CL), granting it exclusive ownership and rights to BP&CL's product line technology. This strategic acquisition enables KSB Limited to leverage its strengths and market potential, expanding its product offerings in both new pump systems and aftermarket markets. With this move, KSB Limited aims to enhance its service capabilities and support a wide range of industries, including oil and gas exploration and nuclear power plants, while contributing to the 'Make in India' initiative.