Metering Pump Market to Touch USD 5.30 Billion at 6.5% CAGR by 2023
Research Reports
Dec 29, 2020
Market Analysis
The global metering pump market size is predicted to touch USD 5.30 billion at a 6.5% CAGR between 2016- 2023, states the recent Market Research Future (MRFR) analysis.
A metering pump market, also known as a chemical dosing pump, simply put, is an industrial equipment that has been designed to move fluids to another vessel or stream at a discharge pressure and a highly precise flow rate. Piston and diaphragm are the two types of metering pumps that have wide applications in different industries, including oil and gas, chemical, petrochemical, water and wastewater treatment, and others.
Various factors are propelling the global metering pump market share. According to the recent MRFR report, such factors include strict government regulations, demand for digital pumping solutions, high growth application areas, burgeoning demand for eco-friendly water treatments & wastewater management, modernization, and rapid industrialization. Additional factors boosting market growth comprise the growing need for wastewater treatment from the pharmaceutical & refining industries, demand for potable water worldwide, and increasing adoption in the chemical processing & oil and gas industry to inject sensitive fluids, alcohol, solvents, alkalis, and acids, and product innovations. Besides, various forms of advances in the display and microprocessor technology, integration of systems that is smartphone compatible with digital pumping solutions, and implementation of favorable government policies, demand for pharmaceutical products, & growing oil and gas exploratory activities are also adding market growth.
On the contrary, on-going price wars among top leaders, shortage of sufficient greenfield investments, and fall in the availability of labor due to migration of workers and shutdowns during the COVID-19 pandemic are factors that may limit the global metering pump market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global metering pump market based on application and type.
- By type, the global metering pump market is segmented into piston and diaphragm. Of these, the diaphragm segment will lead the market over the forecast period.
- By application, the global metering pump market is segmented into oil and gas, chemical, petrochemical, water and wastewater treatment, and others. Of these, the water & wastewater treatment application will dominate the market over the forecast period.
Regional Analysis
Based on the region, the global metering pump market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region will lead the market over the forecast period. The increasing number of foreign as well as domestic investments in the manufacturing industry, perks of economies of scale owing to accessibility of low-cost raw materials and cheap labor, and favorable government regulations are adding to the global metering pump market growth in the region. Additional factors adding market growth include the spiraling growth of various end use industries, demand for freshwater, growing population, increasing urbanization, and rising investments in different end use industries like pharmaceuticals, water treatment, chemical processing, and oil & gas.
The global metering pump market in Europe is predicted to hold the second-largest share over the forecast period, in North America, it is predicted to have healthy growth over the forecast period, and in the RoW is predicted to have sound growth over the forecast period.
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Key Players
SPX Flow Technology Norderstedt GmbH (Germany), Swelore Engineering Private Limited (India), Seko S.P.A. (Italy), Prominent Dosiertechnik GmbH (Germany), Seepax GmbH (Germany), Mcfarland-Tritan LLC (U.S.), Injection Technical Control Incorporation (Spain), IDEX Corporation (U.S.), Milton Roy Company (U.S.), and Lewa GmbH (Germany). Industry players have encompassed strategies such as mergers, product launches, collaborations, and strategic alliances, among others, to stay at the forefront.
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