The Global Positive Displacement Pumps Market is likely to grow from USD 9.74 billion in 2019 to reach USD 15.77 billion by 2028, at a CAGR of 5.5% over the forecast period. The growth of the global market will be driven by the growth in the wastewater treatment industry owing to regulatory controls of newly developed contaminants that require timely and proper testing and monitoring.
In addition, water scarcity has remained a primary concern, while desalination technology is still very expensive. As a result, there has been a rising need for wastewater treatment to meet the requirement for safe and clean water for consumption. Moreover, the oil and gas manufacturing industries use PDP (Positive Displacement Pumps) for transporting crude oil & gas.
The end-use applications of positive displacement pumps in the oil & gas industry include shale gas hydraulic fracturing, oil and gas well cementing, drilling, and matrix treatments. Both rotary pumps, as well as reciprocating pumps, are adopted in this industry where the operating load ranges from moderate to high.
The oil and gas segment is estimated to gain around 30 BPS over the forecast period. The industry is projected to grow at a CAGR of 4.3% to reach industry valuation in excess of USD 800 Million by the end of 2028. The segment is anticipated to show high growth potential and account for about 25% of the overall incremental opportunity produced from the global positive displacement pumps market.
Furthermore, the rapidly growing demand for positive displacement pumps and rising FDIs in the Asia Pacific region are some other significant factors that are driving the growth of the global positive displacement pumps market. However, the capacity of the end user market and the rapidly increasing demand for centrifugal pumps are anticipated to restrain the growth of the positive displacement pumps market in the coming years.
On the other hand, technological advancement is expected to pave the way for the development of effective and improved positive displacement pumps, which in turn, will fuel market growth in the future. The market in the Asia Pacific region held a major revenue share in the global positive displacement pumps market in terms of volume contribution as compared to markets in other regions in 2017. Moreover, the market in the Asia Pacific is expected to register comparatively higher growth in terms of revenue over the forecast period.
Global Positive Displacement Pumps Market, By Product Type
The reciprocating pumps segment is to lead the global positive displacement pumps market over the forecast period. Reciprocating pumps can have a capacity higher than 90% over the low-flow or high-head service, whereas centrifugal pumps can only have efficacy as low as around 40%. As a result, a reciprocating pump enables the end user to obtain considerable power savings.
Key Market Developments in Global Positive Displacement Pumps Market
The acquisition of Lawrence will offer Flowserve service API as well as chemical slurry pump technology, which are critical for the refining, polyolefin, oil sands, and polyethylene industries. These are some of the important positive displacement pump industries for Flowserve.
Some Key Findings of the Global Positive Displacement Pumps Market
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