High-Pressure Pumps Market To Grow From $2.5B In 2020 To $3.4B By 2030, Achieving 3.1% CAGR

WILMINGTON, DE , UNITED STATES, July 10, 2024 /EINPresswire / -- The global high-pressure pumps market was valued at $2.5 billion in 2020, and is projected to reach $3.4 billion by 2030, growing at a CAGR of 3.1% from 2021 to 2030.

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High-pressure pump is broadly defined as any pump that can generate high discharge pressure, generally in excess of 800 psi. These pumps are extensively used across oil & gas, power generation, chemical, pharmaceuticals, and manufacturing industries.

Demand for high-pressure pumps has witnessed tremendous growth driven by increase in manufacturing and infrastructural activities in Southeast Asia; growing investments in sectors other than oil & gas in the Middle East & North Africa (MENA); and growing green chemical industry in the U.S. All industry players are investing heavily to find new commercial avenues for their product segments via contracts & agreements with other companies, business expansion, new product development, and mergers & acquisitions. However, slowdown in the oil & gas industry is expected to hamper growth of the high-pressure pumps market during the forecast period. Furthermore, wide-scale adoption of carbon capture and storage (CCS) services is expected to provide growth opportunities for the market during the forecast period.

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By type, the global high-pressure pumps market size is studied across dynamic and positive displacement. The dynamic segment accounted for the largest market share in 2020, owing to their increased applications in various industries as they generate different flow rates and cost-effective adoption. The dynamic segment dominated the global market with more than half of the total market share in 2020.

By pressure, the global high-pressure pumps market is studied across 30 Bar-100 Bar, 101 Bar to 500 Bar, and above 500 Bar. The 30 Bar-100 Bar segment accounted for the largest market share in 2020 as manufacturing industries are using a series of these pumps to generate high-pressure, owing to their low-space requirement, low cost, and easy installation and maintenance. The 30 Bar-100 Bar segment dominated the global market with more than half of the total market share in 2020.

By end-use industry, the global high-pressure pumps market is studied across oil & gas, power generation, manufacturing industries, chemical & pharmaceuticals, and others. The oil & gas segment emerged as a leader in 2020, owing to adoption of several types of high-pressure pumps such as electric submersible pumps, helico-axial pumps, deep well pumps, progressive cavity pumps, and twin-screw pumps in exploration, production, and transportation activities. The oil & gas segment dominated the global high-pressure pumps market with more than one-third of the total market share in 2020.

Region-wise, the global high-pressure pumps market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest market share in 2020, as manufacturing industries are using a series of these pumps to generate high-pressure, owing to their low-space requirement, low cost, and easy installation and maintenance. Asia-Pacific accounted for a major high-pressure pumps market share in 2020, and dominated the global market with two-fifths of the total market share in 2020.

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Key Findings of the Study:

In 2020, Asia-Pacific dominated the global high-pressure pumps market with around 40.0% share, in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 3.5% in terms of value.
The dynamic high-pressure pumps segment dominated the global high-pressure pumps market with around 55.0% of the share in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 3.6% in terms of value.
The 30 Bar-100 Bar segment dominated the global high-pressure pumps market with around 55.0% of the share in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 3.3%, in terms of value.
The oil & gas segment dominated the global high-pressure pumps market with 34.0% of the share in terms of revenue.
The manufacturing industries segment is projected to grow at the highest CAGR of 3.8% in terms of revenue.

David Correa
Allied Market Research
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