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Glycol Pumps Market

Glycol Pumps Market

Glycol Pumps Market Analysis By Type (Ethylene & Propylene) By Capacity (Less than 5 Gpm, 5-10 Gpm, 10-15 Gpm & Above 15 Gpm) By Pump Type (Centrifugal Pumps & Positive Displacement Pumps) By Operating Pressure, End-Use Industry & By Region – Global Insights 2022 to 2032

Glycol Pumps Market
FACT7500MR
  • Jun-2022
  • List of Tables : 150
  • List of Figures : 134
  • 170 Pages
  • Industrial Goods

Glycol Pumps Market Outlook (2022-2032)

The global glycol pumps market is estimated at US$ 123.7 million in 2022 and is forecast to reach a market valuation of US$ 224.3 million by 2032, expanding at a CAGR of 6.1% across the 2022-2032 assessment period.

The top five glycol pump manufacturers in the world hold close to one-fourth market share.

Report Attributes

Details

Glycol Pumps Market Size (2021A)

US$ 119.1 Million

Estimated Market Value (2022E)

US$ 123.7 Million

Forecasted Market Value (2032F)

US$ 224.3 Million

Global Market Growth Rate (2022-2032)

6.1% CAGR

Europe Market Share (2021)

~29.4%

South Asia & Oceania Market Growth Rate (2022-2032)

~7.6% CAGR

U.S. Market Growth Rate (2022-2032)

~5.3% CAGR

Market Share of Top 5 Companies

~23.6%

Key Companies Profiled

  • North Ridge Pumps
  • Kimray
  • Mcmaster
  • Viking Pump
  • LEWA
  • Verder
  • Cat Pumps
  • Xylem
  • TriRotor Inc
  • Goulds Pumps
  • Heat Exchange & Transfer, Inc.
  • John Wood, Inc.
  • T-Mag
  • Exterran
  • Rotor Tech
  • Bifold
  • HERMETIC-Pumpen GmbH
  • March Pumps
  • Sintech

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Sales Analysis of Glycol Pumps (2017-2021) Vs. Market Forecast Outlook (2022-2032)

Industrial gear pumps are used in a wide range of industry applications, from food processing to asphalt pouring. These industries, in particular the application of industrial-grade compounds, are driving the sales of specialised gear pumps.

Increasing demand for glycol in chemicals & petrochemicals, food & beverages, pharmaceuticals, cosmetics, automotive & transportation, and oil & gas is expected to propel the worldwide market for glycol pumping equipment.

A glycol dehydration pump is a vital component of any gas glycol dehydration system, which is used primarily in the oil & gas industry. Fundamentally, it does two things - either moves rich glycol or lean glycol from the contactor to the reboiler and vice versa.

The various types of glycol pumps are glycol chiller pumps, glycol heat pumps, glycol hand pumps, portable glycol pumps, etc. In addition, the favourable chemical compatibility of glycol, which makes it a simple and inexpensive solution, is the driving factor for the use of glycol in numerous industrial applications.

Due to excellent heat retention and flowable viscosity, it is widely used for maintaining the working temperature of an engine or mechanical system in automotive & transportation industries where external conditions may differ. Water glycol pumps are extensively used in industries where plastic, paint, chemical, food, cosmetic, and pharmaceutical preparations are processed.

  • Short Term (2022 Q2 to 2025): Continuous enhancement in thermal and pressure capabilities, temperature ratings, precision clearances, and easy in-field replacements will lead to increased sales of glycol pumps in numerous industries.
  • Medium Term (2025-2028): Advanced technological implementations in end-use industries leading to increased production capabilities drive demand for glycol pumps.
  • Long Term (2028-2032): As industries are adopting cutting-edge technologies to accelerate their operations, the pump industry is integrating digital technologies into pumps to fit future needs where accelerated output is required. Improved efficiency of pumps would positively affect the demand for glycol pumps.

During the 2017-2021 historical years, the global glycol pumps market registered a CAGR of 0.1%, and according to the analysis by Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 6.1% CAGR between 2022 and 2032.

Glycol pumps market forecast by Fact.MR

Market share analysis of end-use industry and region is provided in a nutshell in the above image. Under the end-use industry segment, the oil & gas industry dominated the market with 21% market share at the end of 2021.

Which Industry Factors are Shaping the Evolution of the Glycol Pumps Market?

“Advancements in Glycol Pumps Aiding Industry Expansion”

Glycol is now being used for several application areas, ranging from mechanical, oil & gas, food & beverages, pharmaceuticals, etc. With the rise in its applications, prominent players in the glycol pumps market are incorporating advanced technology in pumps by conducting research and development to produce economic, highly-efficient, and low-maintenance pumps.

For instance, global consumption of natural gas is rising, which is driving the demand for advanced electrical glycol pump systems that can provide less downtime, lower cost, less susceptibility to leakage, and longer duty cycles.

Increased demand from various application sectors has prompted industries to increase their production output, thereby supporting the market growth of glycol pump systems at an expected 6.1% CAGR for the forecast years of 2022-2032.

“Substitute Solutions Hampering Market Progress”

Industries are striving to develop environment-friendly and cost-effective alternate solutions to comply with the constantly changing environmental policies & norms governing the industry sector.

ASTM International, formerly known as the American Society for Testing and Materials (ASTM), recently issued standards stating that the use of glycerin in engine coolant and antifreeze applications is a much more environmental-friendly and cost-effective alternative to ethylene glycol, which is currently the most widely used component.

Such developments of alternative solutions might challenge glycol pumping systems market growth to some extent.

An Adaptive Approach to Modern-day Research Needs

Country-wise Insights

Which Country Accounts for High Demand for Glycol Pumps in North America?

The U.S. glycol pumps market accounts for a high market share of 86.9% in North America and is predicted to expand at a CAGR of 5.3% during the assessment period.

High market growth is attributed to several factors such as advancements in production capabilities, favorable government initiatives, and growing demand for glycol pumps from various end-use sectors.

What is the Market Scenario for Glycol Pumps in China?

China is predicted to hold nearly 73.2% share in the East Asia market by the end of 2032 and is projected to rise at 7% CAGR during the forecast years of 2022-2032.

Due to the sheer high growth of various end-use sectors in China, such as chemicals, pharmaceuticals, plastics, and manufacturing, glycol pump sales are expected to increase rapidly in China over the coming years.

Category-wise Insights

Why are Ethylene Glycol Pumps More Widely Used across the World?

The glycol pumps market is segmented into types by ethylene glycol pumps and propylene glycol pumps.

The ethylene type dominates the market with 75.2% of the overall market share in 2022. The segment is projected to rise at the rate of 7% CAGR during the assessment period, owing to factors such as their beneficial chemical properties and toxicity level that are suitable for end-use application industries.

Temperature, flow rate, and pressure are the main factors considered for the pumping of glycol, and ethylene glycol pumps are the most suitable for this.

Which Glycol Pump End Use Brings in Higher Market Revenue?

Under the end-use industry segment, the glycol transfer pumps market is segmented into chemicals & petrochemicals, food & beverages, pharmaceutical, cosmetics, automotive & transportation, oil & gas, plastics, paints & inks, and others.

Amongst them, the oil & gas industry dominates the market as it is estimated to hold 21.1% share in the global glycol pumps market in 2022. Demand for glycol pumps for the oil & gas industry is projected to surge at 7.5% CAGR during the forecast years.

Glycol pumps for gas dehydration systems helps these systems remove water vapor from natural gas and recirculate the liquid. This plays a very important role in this overall process as glycol is highly hygroscopic and has the ability to readily absorb and retain water.

Apart from this, glycol pump kits find usage in the automotive & transportation sector, which holds 18.9% market share and is projected to expand at 6.3% CAGR during the forecast years of 2022-2032. Glycol is used as a brake fluid, hydraulic fluid, heat transfer fluid, and antifreeze agent in several automotive and mechanical systems.

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Competitive Landscape

Key glycol pump manufacturers are North Ridge Pumps, Kimray, Mcmaster, Viking Pump, LEWA, Verder, Cat Pumps, Xylem, TriRotor Inc, Goulds Pumps, Heat Exchange & Transfer, Inc., John Wood, Inc., T-Mag, Exterran, Rotor Tech, Bifold, HERMETIC-Pumpen GmbH, March Pumps, and Sintech.

The glycol pumps market is rapidly expanding due to technological advancements by key market players. Prominent market players are incorporating advanced features and electrical integrations, and are also focusing on R&D activities. Further, players with big financial power in the market are resorting to acquisitions to gain an edge over others operating in the market.

For instance :

  1. In Dec. 2021, Kimray acquired Texas-based Control Equipment Inc. The acquisition would result in huge benefits for the industry by combining Kimray's innovation and production capabilities with CEI's distribution network and expertise.
  2. In March 2022, Atlas Copco´s Power and Flow division agreed to acquire LEWA. The acquisition will strengthen Atlas Copco`s expansion within the industrial pumps business.
  3. In April 2022, North Ridge Pumps conducted a case study on ATEX-rated plunger pumps for green hydrogen production with the use of ethylene glycol.

Categorization of Glycol Pumps Industry Survey

  • Glycol Pumps Market by Type :

    • Ethylene
    • Propylene
  • Glycol Pumps Market by Capacity :

    • Less than 5 Gpm
    • 5-10 Gpm
    • 10-15 Gpm
    • Above 15 Gpm
  • Glycol Pumps Market by Operating Pressure :

    • Less than 50 Bar
    • 50-100 Bar
    • 100-150 Bar
    • Above 150 Bar
  • Glycol Pumps Market by Pump Type :

    • Centrifugal Pumps
    • Positive Displacement Pumps
  • Glycol Pumps Market by End-use Industry :

    • Chemicals & Petrochemicals
    • Food & Beverages
    • Pharmaceuticals
    • Automotive & Transportation
    • Oil & Gas
    • Cosmetics
    • Plastics
    • Paints and Inks
    • Others
  • Glycol Pumps Market by Region :

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

- FAQs -

The global glycol pumps market is valued at US$ 123.7 million in 2022.
Worldwide demand for glycol pumps is anticipated to reach US$ 224.3 million by 2032.
Between 2017 and 2021, the global market for glycol pumps expanded at 0.1% CAGR.
Key glycol pump suppliers are North Ridge Pumps, Kimray, Viking Pump, Mcmaster, LEWA, Cat Pumps, and Verder.
Europe tops the global glycol pumps market accounting for 31.1% market share.
Ethylene dominates the market with 77.5% share.

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