Rotary Pumps Market will Surpass US$ 4.4 Billion in 2018, Wide-ranging Industrial Applications to Spur Growth
Published : 04 Dec 2018 Industry: Industrial Goods
Fact.MR’s latest study on rotary pumps market projects bullish growth for rotary pumps 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.
The study uncovers the most important factors that may influence growth prospects of the rotary pumps market in short- and long-term. Key micro and macroeconomic parameters elucidated in the report include
- 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 rotary pumps market.
The report sheds light on the most important market dynamics to identify new avenues of growth for players in local as well as international markets for rotary pumps. This can help market players to make well-informed decisions in the coming future.
Small Capacity Rotary Pump Demand to Remain Significantly Higher than that for Medium Capacity Rotary Pumps
The Fact.MR 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 in the rotary pumps market 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 Fact.MR 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.
The Fact.MR research study assesses growth of the rotary pumps market for the forecast period 2018-2028. According to the report, the rotary pumps market is likely to grow at a healthy value CAGR of around 3.9% through 2028.