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Positive Displacement Pumps Market Size USD 3.36 Billion in 2020, Growth at a CAGR of 4.7%, Trends – increased E&P activities in oil and gas industry
NEW YORK CITY, NEW YORK, UNITED STATES, May 24, 2022 /EINPresswire.com / -- The global positive displacement pumps market size is expected to reach USD 4.82 billion by 2028 and register a revenue CAGR of 4.7%, according to the latest report by Reports and Data. Increasing exploration and production activities in oil and gas sector and need to enhance oil recovery procedures are key factors driving demand for positive displacement pumps, and this expected to continue to boost market revenue growth over the forecast period. Positive displacement pumps are vital components in the oil & gas sector and are often deployed in tri-phase or multi-phase pumping applications.
Increasing oil and natural gas exploration activities, especially in North America, is expected to drive demand for positive displacement pumps over the forecast period. Positive displacement pumps, which transfer a specific volume of fluid for each operation cycle, can be segregated into two main classes; reciprocating and rotary. Positive displacement pumps can efficiently remove air present along the lines of fluid and this has boosted its adoption in the food and beverages industry. Additionally, increasing demand for commercial and industrial positive displacement pumps from power, pharmaceuticals, and chemicals industries is expected to further drive market growth going ahead.
However, complexity of pump design and its maintenance as compared to centrifugal pumps is expected to restrain market growth to a significant extent over the forecast period. Major disadvantage of complex design and valve construction could hamper preference and restrain market growth to a certain extent over the forecast period.
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Major companies in the market include Schlumberger Ltd., HERMETIC-Pumpen, Pentair, Baker Hughes, Flowserve, Grundfos, AR North America, KSB, and Sulzer, among others.
Further key findings from the report suggest
Positive displacement pumps transport liquids by continuously enclosing a specific volume and moving it automatically across the system. Displacement of fluid is generally done by piston, plunger, diaphragm, gears, or vanes, among others.
Reciprocating pump segment is expected to account for a significant revenue share in global market over the forecast period owing to rising application in various end-use industries such as in water and wastewater treatment, power, oil & gas, and food and beverages, among others.
Oil & gas segment revenue is expected to expand significantly over the forecast period, attributable to increased use of positive displacement pumps for various processing of oil & gas production such as in pumping stations, pipelines, subsea hydraulic systems, gas sweetening, and for other onshore and offshore applications.
Asia Pacific market revenue is expected to expand considerably over the forecast period, attributable to increasing demand for these pumps from various end-use industries such as chemicals, mining, power, and water & wastewater. Rapid expansion of power and chemicals industries and rapid urbanization are some other factors supporting regional market revenue growth.
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Product Outlook (Revenue, USD Billion; 2018-2028)
Reciprocating
Rotary
End-use Outlook (Revenue, USD Billion; 2018-2028)
Oil & Gas
Chemical
Water Treatment
Pharmaceutical
Food & Beverages
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Positive Displacement Pumps market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Positive Displacement Pumps market.
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The global Positive Displacement Pumps market is segmented into:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
What are the dominating factors that are influencing the growth of the industry?
In the forecast period, which market segment is expected to rise the most?
What are the risks and challenges that the industry is facing?
In the coming years, which area is projected to dominate the market?
Who are the major players in the market?
What kind of strategic business plans have they made?
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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