Pressure Pumps Market - Overview
High pressure pumps are pumps specifically designed to
bear pressure on the higher end. High pressure pumps play a vital role in
several areas such as water supply and sewerage, draining for flood prevention,
and agriculture. These pumps also play an important role in applications that
are suitable for liquid transfer in washing systems, cooling and
air-conditioning systems, water-supply systems, water-treatment systems,
firefighting systems, industrial plants, and boiler feeding systems. The latest
report launched by Market Research Future (MRFR) has suggested that the global Pressure
Pumps Market is expected to witness sizeable growth in the forthcoming
years, exhibiting a 3% CAGR.
As mentioned above, high pressure pumps have a varied
scope of application, which is driving the global market over the forecast period.
Apart from that, increasing demand of such pumps among metal fabrication and
automotive industries has led to the ascension of the high pressure pumps
market. Snowballing investments in the oil and gas industry has been observed
owing to the rising demand for continuous supply of energy. These investments
are bound to supplement the mounting demand for high pressure pumps. As per the
information provided by the India Brand Equity Foundation (IBEF) Report, Oil
and Natural Gas Corporation (ONGC) recently invested around $2.73 billion for
the drilling of oil and gas wells in 2018-2019.
Moreover, the high pressure pumps market is projected
to grow sizeably owing the magnified demand in the automotive industry. The
automobile production increased by 7.08% CAGR between 2018 and 2019, as per the
report launched by India Brand Equity Foundation. This has contributed to the
ascension of high pressure pumps as it would become necessary to compress fuel
at a high pressure injection in automobiles.
Pressure Pumps Market Segmentation:
The high pressure pumps market has been segmented and
studied by type, pressure range, end-users, and region.
Based on type, the global pressure pumps market
segments studied by the report include dynamic displacement and positive
displacement. The dynamic pump segment is projected to dictate the market. This
can be accredited to the increased applications in different industries owing
to their ability to generate different flow rates and cost-effectiveness.
Furthermore, chemical manufacturers that are in need
to create high pressure are also adopting dynamic pumps to reduce the cost of
equipment in several chemical processes. This is also opening up new growth
avenues for market players.
Based on pressure range, the pressure pumps market is
segmented into 30 Bar to 100 bar, 101 Bar to 500 Bar, as well as, above 500 Bar.
Among these segments, the 30 to 100 bar segment is likely to register higher
growth alternative to the other market segments over the forecast period.
Attributable factors include the manufacturers who are using a series of such
pumps for generating high pressure and lower space requirement, cost-effectiveness,
and easy installation of the same.
Based on end-users, the segments of the global high
pressure pumps market include chemical & pharmaceutical, oil & gas,
power generation, and manufacturing industries. The oil & gas segment is projected
to hold a dominant share of the market over the forecast period owing to the
adoption of several types of pumps like submersible pumps, deep well pumps,
helicon-axial pumps, twin-screw pumps, and progressive cavity pumps, for
production, exploration, and transportation activities.
Regional Analysis
The pressure pumps market is analyzed for regions of North
America, South America, the Middle East & Africa, and Asia Pacific. Asia
Pacific is the largest shareholder in the global high pressure pumps market.
This can be owed to the extensive usage of these devices in manufacturing
industries.
Key Players
Prominent leaders present in the global pressure pumps
market include Cat Pumps (UK), Andritz (Austria), Maximator GmbH
(Germany), GEA Group (Germany), Sulzer Ltd (Switzerland), Grundfos
(Denmark), The Weir Group PLC (UK), Danfoss (Denmark), KSB SE & Co.
(Germany), and Hammelmann (India).
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