Positive displacement pumps also referred to as “constant-volume pumps” have been used conventionally for injection and transfer of liquid or gaseous media from source to destination junctions. These pumps offer high-pressure development capability from low operating suction pressures. 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. These types of pumps are used in oil & gas, power generation, water & wastewater, and chemical sector.
The global positive displacement pumps market is expected to surpass US$ 3,718.2 Mn in terms of value by the end of 2028.
Rapid growth in the global power generation sector is expected to drive growth of the global positive displacement pumps market during the forecast period. The power generation capacity in emerging regions such as Latin America, Asia Pacific, and Africa has increased massively over the years. According to the International Energy Agency (IEA) projection 2014, the electrical power demand in Asia Pacific- Non-OECD, Africa, and Latin America nations are expected to generate demand in the range of 2-3.5% per annum twice the global average growth rate. Moreover, according to the U.S. Department of Energy statistics, the demand potential of CHP-based power generation has been estimated at around 240 GW in 2016 across the commercial and industrial sectors. Emerging combined heat and power (CHP) based generation plants in industrial as well as commercial requirements are expected to drive the consumption of positive displacement pumps.
Mergers and acquisitions among market players can provide key business opportunities in the global positive displacement pumps market. Key companies are focused on mergers and acquisitions, in order to gain a competitive business edge. For instance, in 2015, Sulzer AG acquired Morocco-based Expert International Pompe Service (EIPS), which offers maintenance and repair services for pumps to cater to the requirements in North Africa. Moreover, in January 2015, Flowserve Corporation acquired SIHI Group B.V., a leading supplier and manufacturer of vacuum and fluid pumps. In December 2015, Ebara Corporation acquired Thebe Bombas Hydraulicas SA, a Brazil-based pump manufacturer.
Global Positive Displacement Pumps Market: Recent Developments
Stringent regulations on eco-design are expected to hamper the global positive displacement pumps market growth over the forecast period. Despite its various advantages, pump manufacturers are required to adhere to eco-design regulations set up by governing authorities, in order to ensure energy conservation. European governments have stringent norms regarding such design, which makes it challenging for manufacturers.
Global Positive Displacement Pumps Market - Impact of Coronavirus (Covid-19) Pandemic
The outbreak of COVID-19 pandemic has negatively impacted the global positive displacement pumps market. Following the outbreak, many countries across the globe temporarily suspended international travel and trade, which has led to sharp decline growth of the said market. Manufacturing organizations had to shut down their activities due to stringent regulations on physical distancing, which led to decline in sales of positive displacement pumps. Since majority of organizations including chemicals, oil & gas, etc. were impacted by the lockdown policies, the demand for positive displace pumps dwindled significantly as they widely used in the aforementioned industries. However, the market is gradually recovering with numerous countries relaxing the COVID-19 regulations, which is expected to boost the market in the near future.
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With increasing investments in the field of water and wastewater management across Asia Pacific, various turnkey projects are currently undertaken by EPC and project consultants. This has been perceived as an opportunity for bulk sales of high-value pumps by the manufacturers. To leverage this opportunity, manufacturers have formed long term business alliances as well as contractual registrations for the supply of pump equipment. The same is been targeted towards the power generation sector.
As per the guidelines of the European Union of energy-efficient pumps in 2004, the manufacturing fraternity in Western Europe has been focusing on the development of new technologies and products focusing on optimization of pumping systems and increasing production speed. Adjustable frequency drives are proving to be more economically viable for end users as they help save energy in less floor space. Variable frequency drive can increase the speed of the pump or motor, which helps to protect assets and extend equipment life.
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.
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