November 03, 2022 16:00 ET | Source: FACT.MR FACT.MR
Rockville, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The global rotary pumps market is expected to reach USD 11.2 billion by 2032, increasing at a CAGR of 5.3% between 2022 and 2032. Pump Lubrication
Due to their capacity to pump gases and liquids without experiencing any head loss, rotary pumps have long been in great demand. Because of this, such pumps are the preferred choice of industries searching for sustainable pumps with low overall costs. According to the preceding scenario, the global rotary pump market has grown at a 1.4X rate during the last half-decade.
With the evolution of industrial operations, the demand for a pump that can perform efficiently at high differential pressure and pump high-viscosity fluids in compact designs began to grow. As a result, the market for cost-effective rotary pumps has grown, and it is expected to deliver a revenue boost to its manufacturers during the next ten years.
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The Internet of Things (IoT) and Industry 4.0 are two advanced technologies that are rapidly gaining traction in the field of industrial automation.
Pump manufacturers are looking for ways to develop high-efficiency, low-cost pumps and take advantage of the growing importance of innovative technology in industrial sectors.
Pentair plc, a water treatment firm based in the United Kingdom, recently unveiled energy-efficient pool pumps that are linked with next-generation connected technologies that may automate activities including heating, filtering, moving, and sterilizing pool water.
Players in the rotary pump market are relocating production facilities to Asia, where labour costs are cheaper, in order to capitalize on the cost-effective features of rotary pumps and increase profitable sales in India, China, and other high-potential regions.
China and India are the most profitable markets for rotary pumps, and they are anticipated to maintain their dominance in the area, which presently accounts for 23% of total market share.
As there are so many local and regional players, the worldwide rotary pump market is highly fragmented and competitive. Key players use a variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.
Leading organizations also use new product creation as a strategic way to expand their market presence among consumers. As a result of these efforts, advanced rotary pumps have been implemented.
Key Companies Profiled by Fact.MR are:
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Positive displacement pumps, such as rotary pumps, are well liked by end-users from a variety of industrial sectors, including water and wastewater, power generating, chemical, and oil and gas. Rotary pumps are one of the most adaptable pumping solutions available today, handling high viscosity fluids in a wide range of industrial applications because to the exceptional design advantages.
The variety of uses for rotary pumps is further increased by the fact that it is more effective than any other form of pump at pumping liquids at high temperatures and liquids with gas or vapour components. In order to increase sales across a variety of industrial sectors, manufacturers in the rotary pump market are emphasising the special performance traits of rotary pumps.
Taking into account the aforementioned industries, the industrial application segment created 42% of the total market value for rotary pumps in 2021 and is projected to produce 51% of the same by the end of 2032. This area is therefore anticipated to deliver a gain of 900 BPS throughout the projected period of 2022–2032.
Global Rotary Pumps Market by Category
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Rotary Pumps Market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of Product (Gear, Vane, Screw, Lobe), By Capacity (Small (Up to 500 gpm), Medium (500-1,000 gpm), High (More than 1,000 gpm)), By End Use Application (Oil, Gas & Refining, Chemical, Power Generation), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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