PUBLISHER: Polaris Market Research | PRODUCT CODE: 1449329
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1449329
The global reciprocating pumps market size is expected to reach USD 15.20 billion by 2032, according to a new study by Polaris Market Research. The report "Reciprocating Pumps Market Share, Size, Trends, Industry Analysis Report, By Type (Diaphragm Pumps, Plunger Pumps, Piston Pumps); By End-Use; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The Reciprocating Pumps market refers to the demand for medical devices known as Reciprocating Pumpss, which treat coronary artery disease (CAD). This disease is when the arteries that provide blood to the heart become narrowed or blocked due to plaque buildup.
At its core, a reciprocating pump is a hydraulic machine that transforms mechanical energy into hydraulic energy, utilizing a piston's reciprocating motion within a cylinder. These pumps, historically employed for high-pressure and low-volume applications, find significant use in the wastewater treatment industry. In this sector, reciprocating pumps prove valuable when handling substantial quantities of sewage and sludges against low heads. The escalating investments in wastewater treatment globally are poised to boost the demand for reciprocating pumps.
For instance, Eurostat reported that in 2021, wastewater treatment and waste management constituted 23% and 28% of the total expenditure in the general government and non-profit sector. Similarly, in November 2021, the United States Government allocated USD 550 million in new spending, including USD 55 million earmarked for the development of wastewater, drinking water, and stormwater infrastructure.
Despite these positive indicators, challenges to market growth exist, including issues such as non-uniform liquid flow, high initial costs, and increased maintenance expenses due to heightened wear and tear. The onset of the COVID-19 pandemic significantly impacted the market, with disruptions across major end-user industries. For instance, in the United States, OSHA issued safety guidelines restricting manpower at specific sites. However, as conditions normalize, the market is anticipated to rebound, reaching pre-pandemic growth levels during the forecast period.
Reciprocating pumps are widely employed in diverse industries, including chemical processing, oil and gas, and water treatment, owing to their adaptability in managing a variety of fluids, pressures, and temperatures. Acknowledged for their efficiency and dependability, these pumps serve applications that necessitate precise fluid displacement, fostering demand in industries where accuracy in flow rates and pressures is paramount. Their unique ability to manage abrasive, viscous, and shear-sensitive fluids make them invaluable assets in sectors handling such substances. Additionally, in industries like oil drilling and refining, where high-pressure pumping is essential, reciprocating pumps are preferred for their capability to generate substantial pressure.
In 2022, the Diaphragm Pumps segment secured the largest share of revenue. A diaphragm pump employs a flexible diaphragm, typically made of materials like rubber or plastics, instead of a piston to transfer fluids. The activation of diaphragm pumps, which depends on end-use pressure and flow rate requirements, can be achieved through either mechanical means or compressed air. Notable advantages of diaphragm pumps include their ability to handle a diverse range of fluids, including viscous and abrasive substances. They are renowned for their leak-tight operation, making them suitable for applications where fluid containment is crucial. Additionally, diaphragm pumps are self-priming, eliminating the need for external priming to initiate pumping. Their adaptability, reliability, and capacity to handle challenging fluids position them as a valuable choice for managing a wide spectrum of substances in industries such as food processing, pharmaceuticals, oil & gas, and chemical processing.
During the forecast period, the Oil & Gas segment held the highest market share. Reciprocating pumps play a crucial role in the upstream exploration and production (ExoPE) sector of the oil and gas industry, particularly in the hydraulic fracturing process. Their primary function involves injecting fluids at significant depths to enhance the recovery of hydrocarbons. In the oil refining stages, reciprocating pumps with high-pressure capabilities are essential for transferring crude oil, whether from the wellhead to storage tanks or within a production facility, facilitating movement from one location to another. Moreover, reciprocating pumps play a pivotal role in the natural gas compression process, contributing to the compression of natural gas for transportation through pipelines. This compressed gas is commonly injected into reservoirs to optimize oil recovery (EOR). Additionally, reciprocating pumps are integral in the transfer of liquefied petroleum gas (LPG) and natural gas liquids (NGLs) from production facilities to storage tanks or transportation vessels.
In 2022, the Asia Pacific region emerged as the predominant market. Anticipated market growth is attributed to rapid industrialization and a growing demand for fluid handling across several nations, notably China and India. The Asia Pacific region is experiencing notable expansion in the agriculture, chemical, and food processing sectors, driven by factors such as urbanization and a rise in per capita income. Reciprocating pumps play a crucial role in the agriculture sector, particularly in equipment designed for herbicide and pesticide spraying.
The global key market players include
Alfa Laval, Atlas Copco AB, Denver Inc., Eaton, Flowserve Corporation, Fluimac Pump Solution, Gardner, Grundfos, IDEX Corporation, LEWA GmbH, Ningbo Hilead Hydraulic Co., Ltd., Parker, Ruhrpumpen Group, SPX Flow, The Weir Group PLC, and Xylem Inc.
Polaris Market Research has segmented the Reciprocating Pumps market report based on type, end-use, and region: