Rotary Pumps Market Will Surpass US$ 4.4 Billion in 2018
Fact.MR’s latest study on rotary pumps market projects bullish growth for the market. The study finds a significant rise in adoption of rotary pumps in a wide range of industrial sectors including oil & gas, water & wastewater, mining, and power generation. On account of widening applications, the rotary pumps market is likely to witness 3.3% in 2018 to exceed US$ 4.4 billion.
Rapidly changing pumps industry will impel rotary pump manufacturers to introduce more innovative and smarter features of rotary pumps.
Evolving end-user behavior will demand online assistance and efficient aftermarket services. Customer inclination towards rotary pumps market players that offer ‘one-stop source’ of all the services will influence manufacturers’ imperative strategies.
Incorporation of technologies will remain one the most important force to drive innovation in the rotary pumps market.
Stringent regulations on energy efficiency and emission standards across the world will create challenges for manufacturers in the rotary pumps market.
Increasing industrialization trends in the emerging economies will generate more lucrative opportunities for stakeholders in the rotary pumps market, driving them to make a foray into developing countries.
Though rotary pumps, especially screw pumps, are more advantageous in oil & gas applications, volatility of oil prices and growth of the industry may hamper growth of the market.
Small Capacity Rotary Pump Demand to Remain Significantly Higher than that for Medium Capacity Rotary Pumps
The study finds that the sales of rotary pumps with smaller capacities account for around 40% revenue share in the rotary pumps market in 2018. Leading rotary pump manufacturers and suppliers are focusing on identifying the exact requirements of end-user applications of rotary pumps. The specific needs for the capacity of rotary pumps mainly depend on the viscosity of the fluid that needs to be pumped. As rotary pumps are commonly used in applications where highly viscous fluids need to be handled, the demand for rotary pumps with smaller capacities is likely to remain high.
The report predicts that demand for smaller rotary pumps will continue to increase at a significantly higher rate in the upcoming years. Thereby, leading manufacturers are focusing on making rotary pumps with capacities of around 500 gpm (gallons per minute) commercially available to cater to the growing demand.
Rotary Vane Pumps – the Fastest Growing Segment of the Rotary Pumps Market
Despite a variety of rotary pumps being introduced by players in the rotary pumps market, including gear, screw, lobe, and piston rotary pumps, the popularity of rotary vane pumps is outpacing the other types. The study finds around 4% year-over-year increase in the sale of rotary vane pumps in 2018 over 2017, which is the highest growth rate if compared to all the other types of rotary pumps.
Rotary vane pumps exhibit higher energy efficiency than most of the other types of rotary pumps. This remains the important driving force for customers choosing rotary vane pumps amid the imposition of energy-efficiency regulations for pumping applications. Manufacturers in the rotary pumps market are likely to introduce higher mechanical characteristics and further improve the adjustability features of rotary vane pumps to capitalize on growing demand for rotary vane pumps in the coming future.
According to the study, the rotary pumps market is likely to grow at a healthy value CAGR of around 3.9% during the forecast period of 2018 to 2028.