Market Overview
Industries are experiencing an all-time high demand for innovative equipment at present. Due to this, it can be affirmed that the global high pressure pump market will attain lucrative revenues during the forecast period. During the span of 2018-2022, the market will earn above USD 2.74 billion. In terms of CAGR, the industry is anticipated to grow at the rate of 2.98%.
There are several factors that can be held responsible for the market’s success. Advancements in industries such as automobiles, infrastructure, steel manufacturing, power plants and water processing happens to be a chief growth booster.
Increased utilization of these pumps in metal fabrication & manufacturing processes can be termed as a secondary growth factor. Development in the food processing industries and upsurge in the necessity for green chemicals manufacturing further foster the growth of the market.
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Key Players
The leading players in the High Pressure Pumps System markets are Cat pumps, Maximator GmbH, Andritz, GEA Group, Grundfos, Sulzer Ltd., The Weir Group Plc, KSB Pumps, Danfoss and Hammelmann.
Market Divisions
The worldwide high pressure pumps market has been split into four equal segments. They are end users, types, geographies & pressure ranges.
On the basis of end users, the market is separated into power generation, oil & gas, manufacturing industries and chemical & pharmaceutical. Out of these the manufacturing industries sub-division holds the largest market share.
On account of types, the industry is bifurcated into positive displacement and dynamic. Amongst the two, the dynamic sub-segment has proven to be the fastest growing segment. It will continue to lead in the coming years as well.
Region-wise, the market is spaced over several areas like North America, South America, Asia Pacific, Europe, Middle East Asia & Africa and Rest of the World.
When it comes to pressure ranges, the market can be further divided into 101-500 bar, 30 bar – 100 bar and above 500 bar.
Asia-Pacific region held the major share within the High Pressure Pumps Market
The High Pressure Pumps market dominated by the Asia-Pacific region. Asian market is primarily driven by the countries like China, India, Japan where manufacturing & others sector are increasing rapidly which ultimately increase the High Pressure Pumps Market.
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Innovations
One of the most recent and noteworthy innovations that this market has experienced has been the introduction of high pressure low-flow pumps. This product has turned out to be a major technological advancement in pump construction. It is because of its beneficial features like reduced size & weight and higher dependability. It can be of great use to a number of industries which demand for compact sized and higher reliability.
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