Analysis of Glycol Pumps Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global glycol pumps market was valued at US$ 131.7 million in 2023 and has been forecast to expand at a noteworthy CAGR of 6.1% to end up at US$ 252.6 million by 2034.
The glycol pumps market is being driven by several key factors, including the rising demand for energy-efficient solutions, advancements in automation, and the need for sustainable industrial processes.
Centrifugal glycol pumps dominate the market due to their excellent efficiency at handling huge volumes of glycol fluids. These pumps are widely utilized in several industries, including oil and gas, chemical processing, and HVAC. Positive displacement pumps, which are noted for their precision and controlled flow, are gaining popularity in applications that need perfect fluid measurement and energy conservation.
| Report Attributes | Details |
|---|---|
| Glycol pumps Market Size (2023A) | US$ 131.7 Million |
| Estimated Market Value (2024E) | US$ 139.7 Million |
| Forecasted Market Value (2034F) | US$ 252.6 Million |
| Global Market Growth Rate (2024-2034) | 6.1% CAGR |
| East Asia Market Share (2024) | 22.4% |
| China Market Growth Rate (2024-2034) | 6.1% CAGR |
| Key Companies Profiled | Bifold; Cat Pumps; Exterran; Goulds Pumps; Heat Exchange & Transfer, Inc.; HERMETIC-Pumpen GmbH; John Wood, Inc.; Kimray; LEWA; March Pumps; Mcmaster; North Ridge Pumps; Rotor Tech; Sintech; T-Mag; TriRotor Inc; Verder; Viking Pump; Xylem; Other Prominent Players. |
On the back of the aforementioned facts, the Glycol pumps market is anticipated to grow at a CAGR of 6.1% during the forecast period from 2024 to 2034, According to the Fact.MR, a market research and competitive intelligence provider.
“Natural Gas Industry Driving Demand for Advanced Glycol Pump Systems”
Glycol is presently employed in a wide range of applications, including mechanical, oil and gas, food and beverage, and pharmaceuticals. With the increase in application, leading companies in the glycol pumps market are merging modern technologies into pumps through research and development to provide cost-effective, highly efficient, and low-maintenance pumps.
For example, as worldwide natural gas consumption rises, there is a greater demand for advanced electrical glycol pump systems that can endure conditions such as fewer downtime, cheaper cost, reduced leakage, and longer duty cycles. Increased demand from application sectors has encouraged companies to expand manufacturing output, resulting in 6.1% market growth for glycol pumps between 2024 and 2034.
“Industries Shifting Towards Environmentally Friendly Alternatives”
The industries have been trying to find environmentally friendly and financially feasible alternative solutions for both meeting the continuously changing environmental regulations and the needs of the industry.
ASTM International, formerly the American Society for Testing and Materials (ASTM), issued new standards indicating that glycerin's applications related to engine coolant and antifreeze are much more environmentally friendly and cost-effective than those of ethylene glycol, today's most used component. Such alternative solution advancements provide a risk to the growth of the glycol pump industry.
“Rising Multi-Industry Demand Boosting U.S. Glycol Pump Market Expansion”
By 2024, the U.S. glycol pump market is projected to account for 44.5% of the North American market share, growing at a rate of 6.5% during the assessment period. This growth is driven by advancements in manufacturing capabilities, favorable government initiatives, and increased demand for glycol pumps across various sectors, including oil & gas, chemicals, and pharmaceuticals.
The U.S. market is benefiting from the adoption of advanced technologies and energy-efficient systems in pumps, alongside a growing focus on sustainability. Businesses are expanding their production capacities to meet the rising demand, further boosting the market’s development trajectory.
“China’s Industrial Growth Fuels Glycol Pump Market Expansion in East Asia”
China is projected to hold approximately 48.9% of the East Asia glycol pumps market by 2024, with an anticipated growth rate of 6.1% during the forecast period from 2024 to 2034. This expansion is fueled by the rapid growth of key sectors such as chemicals, pharmaceuticals, plastics, and manufacturing, all of which heavily rely on efficient glycol pump systems for various industrial processes.
As these industries continue to expand, driven by technological advancements and increased production capacities, the demand for glycol pumps in China is expected to rise significantly, making it a key growth hub in the East Asian market.
“Chemical Properties and Low Toxicity Drive Demand for Ethylene Glycol Pumps”
The glycol pump market is segmented into glycol type, that is, ethylene glycol pumps, and propylene glycol pumps. The ethylene type dominates the market by holding 55.1% of the overall market share in 2024.
The segment is projected to rise at the rate of 6.4% CAGR during the assessment period owing to factors such as chemical properties, toxicity level that is suitable for the end use application industries. Temperature, flow rate, and pressure are important parameters that are taken into consideration when pumping Glycol.
“Glycol Pumps Critical for Gas Dehydration Systems in Natural Gas Processing”
The glycol pump market is divided into end-user segments such as chemicals and petrochemicals, food and beverage, pharmaceuticals, cosmetics, automotive and transportation, oil and gas, plastics, paints and inks, and others.
Among them, the oil and gas industry is expected to account for 15.0% of the global glycol pumps market in 2024. The glycol pumps market for the oil and gas industry is expected to increase at a CAGR of 6.0% over the next several years. The glycol pump for gas dehydration systems aids in the removal of water vapor from natural gas and the recirculation of the liquid. It is critical to this process since glycol is very hygroscopic and may easily absorb and retain water.
Key players in the glycol pumps market are Bifold, Cat Pumps, Exterran, Goulds Pumps, Heat Exchange & Transfer, Inc., HERMETIC-Pumpen GmbH, John Wood, Inc., Kimray, LEWA, March Pumps, Mcmaster, North Ridge Pumps, Rotor Tech, Sintech, T-Mag, TriRotor Inc, Verder, Viking Pump, Xylem & Others.
Companies devote a significant portion of their revenue to R&D to resolve problems and offer creative solutions to draw in new customers and stay competitive. Companies are developing customized offerings for issues that meet industry-specific needs to compete with other players.
Fact.MR has provided detailed information about the price points of key manufacturers of glycol pumps positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
What was the Global Glycol Pumps Market Size Reported by Fact.MR for 2023?
The global glycol pumps market was valued at US$ 131.7 million in 2023.
What is the Estimated Valuation of the Glycol Pumps Market in 2034?
The market is expected to reach a valuation of US$ 252.6 million in 2034.
What Value CAGR did the Glycol Pumps Market Exhibit over the Last Five Years?
The historic growth rate of the glycol pumps market was 5.1% from 2019-2023.
Glycol Pumps Market