Positive Displacement Pumps Market | Growth Drivers and Related Markets
Baker Hughes Co., Bosch Rexroth AG, Flowserve Corp., Grundfos Holding AS are among some of the key vendors discussed in the market research report
Technavio research projects the positive displacement pumps market to grow by $ 2.91 billion, accelerating at a CAGR of over 5% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Positive Displacement Pumps Market Drivers: Developments in Water and Wastewater Industry
One of the primary factors that will trigger the growth of the Positive Displacement Pumps Market size is the need for clean water for drinking, and industrial purposes and processes, to cater to the demands of the rapidly growing global population. This, in turn, is increasing investments in upgrading and installing new water treatment facilities. As a result, the demand for positive displacement pump is increasing. Technavio’s market research report identifies that the developments in water and wastewater industry will be one of the primary growth drivers for the global positive displacement pumps market until 2024. Emerging economies such as China, India, Indonesia, Saudi Arabia, and other Asian and Middle East are increasingly focusing on supporting the growth of the economy by heavily investing in water treatment infrastructure, facilitating the adoption of positive displacement pumps.
Positive Displacement Pumps Market Trends: Adoption of Laser Cladding Techniques for Cost Efficiency
The overall cost of investment requirement for pumping systems used in offshore oil and gas and chemical processing units is high. These systems are used in large-scale and critical applications, where several end-users prefer to repair or remanufacture water pump system components such as such as positive displacement pumps as their replacement is very expensive. Laser cladding techniques are used for the repair work, which is one of the key positive displacement pumps trends that will foster market growth during 2020-2024.
Positive Displacement Pumps Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Alfa Laval AB, Baker Hughes Co., Bosch Rexroth AG, Flowserve Corp., Grundfos Holding AS, ITT Inc., SPX FLOW Inc., Sulzer Ltd., The Weir Group Plc, and Xylem Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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