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Reciprocating Pumps Market

Reciprocating Pumps Market

Reciprocating Pumps Market Analysis by Flow Rate (Up to 100 m3/h, 100-300 m3/h, 300-800 m3/h, Above 800 m3/h), by Type (Piston, Plunger, Diaphragm), by End-Use Industry, by Region - Global Forecast 2022-2032

Reciprocating Pumps Market
FACT2396MR
  • Jan-2022
  • List of Tables : 128
  • List of Figures : 108
  • 170 Pages
  • Industrial Goods

Global Reciprocating Pumps Market Outlook

The global reciprocating pumps market is estimated at USD 7.1 Billion in 2022 and is forecast to surpass USD 13.5 Billion by 2032, growing at a CAGR of 6.6% during 2022-2032.

Report Attributes

Details

Base Year Value (2021A)

USD 6.9 Billion

Estimated Year Value (2022E)

USD 7.1 Billion

Projected Year Value (2032F)

USD 13.5 Billion

Global Growth Rate (2022-2032)

6.6%

East Asia Market Share in 2021

~31%

East Asia Market Growth Rate (2022-2032)

7.1%

Top 5 Companies Market Share in 2021

~42%

Key Companies Profiled

  • Xylem Inc.
  • Flowserve Corporation
  • Grundfos
  • The Weir Group PLC
  • Alfa Laval AB
  • SPX Flow Inc.
  • IDEX Corporation
  • LEWA GmbH

The global reciprocating pumps market accounts for ~9% of the global industrial pumps market in 2022. The global reciprocating pumps market is estimated to provide an absolute $ opportunity of USD 4.5 Billion during the assessment period of 2022-2032.

2017-2021 Global Reciprocating Pumps Market Outlook in Comparison to 2022-2032 Growth Forecast

Petrochemicals have been key driver for fastest growing oil demand historically. The US oil supply grew in the past years with significant growth in Light Tight Oil (LTO) production. Thus indispensable part played by reciprocating pumps in abovementioned application provided them boost of 1.3X in past decade.

Reciprocating pumps are widely used in the extraction of oil and other natural resources to meet the growing demand of the petroleum industry across the globe. As per the study, drilling and oilfield service companies’ earnings are likely to increase 10-12%, owing to the continuous rise in global rig count and upstream capital spending within upcoming 5 years. In accordance to the above scenario, global reciprocating pumps market is expected to multiply by factor of 1.9X in upcoming ten years.

Fact.MR projects the reciprocating pumps market is expected to witness exhibiting growth at 6.6% CAGR during 2022-2032 in comparison to a CAGR of 5.3% with which it grew from 2017 to 2021.

Integration of New Technologies to Provide Competitive Advantage to Reciprocating Pumps Manufacturers

The pump market is witnessing a growing trend of implementing new technologies such as Industrial Internet of Things (IIoT), artificial intelligence, and Big Data. Owing to the volatile nature of the pump market in the last few years, manufacturers in reciprocating pumps market and other pumps are focusing on offering smart pumping system to minimize profits.

Manufacturers of reciprocating pumps and suppliers are focusing on developing connected pumps with ability to regulate and monitor pump efficiency, leading to an improvement in its energy and uptime efficiency. Pump manufacturers are also adding sensors to the pumps with an aim to capture key parameters such as temperature, pressure, and liquid levels.

Commercial buildings, oil and gas, and water and wastewater will turn out to be the first adopters for smart reciprocating pumps and will begin the face of transition. Pump manufacturers offering smart pumping systems with an ability to provide real-time updates is gaining traction in US reciprocating pumps market. These systems are expected to eliminate the unexpected breakdown and also reduce overall maintenance cost of reciprocating pumps.

The demand for reciprocating sucker rod pumping system is growing worldwide as a most utilized artificial methods for onshore wells. This results in integration of remote monitoring and control technology within the sucker rod pumping system implemented by reciprocating pumps manufacturers.

Region-wise Insights

Which Region Accounts for More Concentrated Demand of Reciprocating Pumps?

Increasing number of end-use industries in East Asia are shifting from centrifugal pumps to reciprocating pumps due to its comparatively low cost and high durability as compared to that of centrifugal pumps.

Market players for reciprocating pumps are migrating their production facilities in China, where labor cost is lower, to scale higher on the cost-efficient features of reciprocating pumps and boost profitable sales located in such high potential Asian markets.

The components required in servicing of reciprocating pumps are easily available in local markets of China which is well established for larger motors, pumps, and power supplies. This decreases the overall service cost and saves services time.

Thus, China turns out to be the most lucrative markets for reciprocating pumps and is expected to maintain dominance in the Asia reciprocating pumps market, which currently generates around 52% of total market valuation in the Asian region.

Comprehending to the aforementioned factors, the reciprocating pumps market in Asian countries is projected to grow at a CAGR of 7.1% over the assessment years of 2022-2032 and expected to generate 33% share of overall market valuation for reciprocating pumps market in 2022.

Reciprocating Pumps Market by Fact.MR

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Category-wise Insights

Which End-Use Industry holds Maximum Revenue Generating Opportunities for Reciprocating Pumps Market?

The chemical industry uses a wide range of diaphragm pumps, a type of reciprocating pumps owing to its ease of handling most aggressive, and flammable fluids. The demand for double diaphragm pumps also known as Air Operated Double Diaphragm (AODD) is increasing in the chemical sector.

AODD manufacturers are focusing on offering the user the control of pump’s pressure discharge, safe design to facilitate pumping aggressive chemicals, providing minimal moving parts on the pumps, thereby, eliminating the risk of mechanical problems and ensuring easy installation and maintenance.

With technological advancements, the electric double diaphragm pump has recently been introduced for chemical pumping applications. The new product combines diaphragm pump technology with electric drives that reduce energy consumption, operating costs and increases pump control. Rise in pharmaceutical and petroleum operations worldwide also drives the demand for diaphragm pumps.

Comprehending the aforementioned sectors, chemical end-use industry generated ~46% of overall market valuation for reciprocating pumps in 2021 which is expected to generate around 53% of the same by 2032 end. Thus, this segment is expected to provide a gain of 700 BPS during the forecast period of 2022-2032.

Competitive Landscape: Top Companies in Reciprocating Pumps Market

The global reciprocating pumps market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced reciprocating pumps.

Fact.MR has provided detailed information about price points of top manufacturers of reciprocating pumps market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance: During 2019 beginning, Grundfos opened a new facility in US. The company plans to serve the wastewater industry by providing its leading technical solutions. This new facility is opened in Florida with an aim to grow as a distribution hub for water and wastewater pumps, controls, and other accessories manufactured by this company providing.

An Adaptive Approach to Modern-day Research Needs

Global Reciprocating Pumps Market Segments

  • By Flow Rate :

    • Up to 100 m3/h
    • 100-300 m3/h
    • 300-800 m3/h
    • Above 800 m3/h
  • By Type :

    • Piston
    • Plunger
    • Diaphragm
  • By End-Use Industry :

    • Oil & Gas
    • Chemical
    • Water Treatment
    • Pharmaceuticals
    • Food & Beverage
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global value of reciprocating pumps market is estimated to be worth over USD 7.1 Billion in 2022.
The market valuation for reciprocating pumps is forecast to surpass USD 13.5 Billion by 2032 end.
During 2017-2021, global reciprocating pumps market grew at 5.3% CAGR.
Some of the prominent players in reciprocating pumps market are Xylem, Flowserve Corporation, Grundfos, The Weir Group PLC and Alfa Laval AB, SPX Flow Inc. as per past 10-years market track.
East Asia stood top in the global reciprocating pumps market accounting for 33% share in 2021.
Chemical end-use applications contributed 46% of market revenue in global sales of reciprocating pumps during 2021.

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