Pumps

depa air operated pumps The global industrial pump market size was valued at USD 62.6 billion in 2019 and is expected to expand at a CAGR of 5.9% over the forecast period. Growing expenditure on infrastructural development in various economies across the globe is expected to augment the demand for industrial pumps over the forecast period.

Adoption of these industrial pumping systems is likely to increase in several end-use industries such as chemicals and petrochemicals due to their resistivity towards different hazardous chemicals and durability. Furthermore, increased deliverable pressure pertaining to time is anticipated to propel the demand for industrial pumps.

In North America, the U.S. accounted for a significant share in terms of revenue in 2019 owing to substantial exploration activities in both offshore and onshore unconventional oil and gas sectors. In addition, replacement of existing industrial water and wastewater infrastructure in the economy is expected to augment the product demand.

The industrial pump market is highly price-sensitive majorly on account of rising competition from the low-cost product manufacturers in Asia Pacific. Volatility in the prices is anticipated to be one of the major restraining factors in the market over the forecast period. The degree of consolidation is likely to witness a rise in the market on account of increasing pressure on the profit margins of the product manufacturers. Furthermore, growing awareness about compliance with several environmental regulations stated by the regional governments is anticipated to limit the demand for industrial pumping systems. Photo: DEPA Air Operated Double Diaphragm Pumps

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