Report by MarketsandMarkets: Metering Pumps Market Size to Reach $8.5 billion
Report by MarketsandMarkets: Metering Pumps Market Size to Reach $8.5 billion (Image source: MarketsandMarkets Research Pvt. Ltd.)
The rising global demand for potable water and the chemical processing industry's wide application of metering pumps for dosing various fluids further contribute to market growth. Restraints in the metering pump market include customization needs associated with these pumps and maintenance expenses associated with these pumps. Opportunities lie in the expanding chemical processing sector. However, challenges include adapting to evolving fluctuations in raw material prices.
The diaphragm pump segment is expected to dominate the metering pumps market during the forecast period
The diaphragm pump segment is expected to dominate the metering pumps market during the forecast period. Diaphragm pumps are known for their efficiency and self-priming capabilities, making them a preferred choice. They are also more cost-effective and require less maintenance compared to piston/plunger metering pumps. Diaphragm pumps overcome issues like bubble formation, giving them a competitive edge in the market.
Pharmaceutical segment to register the highest CAGR during the forecast period.
The pharmaceutical segment is poised for substantial growth during the forecast period from 2022 to 2027. This robust expansion will be accompanied by the escalating demand for metering pumps, notably peristaltic pumps, within the pharmaceutical and medical industries. Peristaltic pumps are witnessing increased usage in critical applications such as ventilators and vial filling machinery. It's noteworthy that even with the conclusion of the COVID-19 pandemic, the pharmaceutical sector continues to thrive, sustaining the elevated demand for these pumps. The resilience of the pharmaceutical industry, coupled with the indispensable role of peristaltic pumps in precision pumping and dispensing solutions, especially in pharmaceutical applications such as pellet and tablet coating, reinforces their significance in this dynamic market landscape.
Motor-driven pumps led the Metering pumps market in 2022
Motor-driven metering pumps have established their dominance in the Metering pumps market. These pumps feature a mechanically driven diaphragm that can efficiently operate across various low-pressure ranges. Furthermore, their stroke length and rates can be readily adjusted to meet specific metering rate requirements. Known for their robustness and reliability, motor-driven metering pumps are the preferred choice across industries, demanding minimal supervision. These pumps offer a range of advantages, including a wide capacity range, precise metering even under fluctuating pressure conditions, cost-effective power consumption, flexibility in use, energy efficiency in line with power requirements, and the ability to create metering profiles for optimal metering outcomes. Their versatility and efficiency make them the go-to option for metering needs across diverse applications.
APAC estimated to account for the highest share of the metering pumps market during the forecast period
The Asia-Pacific (APAC) region is poised to dominate the global metering pumps market both in terms of value and volume throughout the forecast period from 2023 to 2028. This supremacy is attributed to the rising demand from the water treatment, driven by significant investments in capacity expansion. Furthermore, the APAC chemical sector's growth is creating new opportunities within the metering pumps market. The expanding textile, pulp & paper, and water treatment industries are also contributing to the market's growth in the region. Notably, India is witnessing substantial growth, with a high number of wastewater treatment plants in operation and several more under construction. This scenario is expected to lead to an increased demand for diaphragm pumps in the coming years.
Key Market Players:
Ingersoll Rand, Inc. (US), ProMinent GmbH (Germany), IDEX Corporation (US), Grundfos Holding A/S (Denmark), Seko S.P.A. (Italy), and Dover Corporation (US) are the key players active in the metering pumps market. Expansions, acquisitions, joint ventures, and new product developments are major strategies these key players adopt to enhance their positions in the metering pumps market.
