Global High 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 high pressure pumps market is expected to
witness sizeable growth in the forthcoming years, exhibiting a 3% CAGR.
Key Players
Prominent
leaders present in the global high 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).
Industry
Highlights
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.
Global High
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 high 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 high 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
high pressure pumps market is analyzed for regions of North America, South
America, the Middle East & Africa, and Asia Pacific.
Asia
Pacific region is accounted to be leading the global high-pressure pumps market
driven by countries like China, Japan, and India, where industrial developments
are carried out with high rates and proliferating. These are creating ultimate
increase ways for the high-pressure pumps market with a higher CAGR.
Also,
North America region is set to grow at significant pace during the forecast
period due to the sectors like pharmaceutical, food & beverages, water
treatment which are heavily reliant on water thus pushing the sales in the
high-pressure pump market.
Browse Full Report at: https://www.marketresearchfuture.com/reports/high-pressure-pumps-market-1880
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