Market Synopsis
According to the report from MRFR, the Metering Pumps Market was valued at USD 3.70 Billion in 2016, and is slated to reach USD 5.30 Billion by 2023, at a CAGR of 6.5%, during 2016 to 2023 – the forecast period.
Market Highlights
Technology is the key to the rapid evolution occurring in different industries. Its important contribution can also be seen in the market for wastewater management and water treatment. Production of metering pumps is of great importance in boosting growth in the market for waste water management and water treatment. The metering pumps are available with higher efficiency with inadequate research and development activities. In addition, increased use of metering pumps across industries such as waste and wastewater treatment, food & beverages, pulp & paper, petrochemical products, and the oil & gas industry is expected to drive the Metering Pump Market in the forecast period. Invariably, metering pumps are used in high-pressure chromatography which is one of the key drivers of market growth. It is also the responsibility of the waste and wastewater industry to generate considerable demand within the metering pump market. Increasing government promotions and regulations relating to product standards, precision stimulates digitization, energy efficiency, and application of high growth in areas such as pharmaceutical product has fuelled demand in the global metering pump market. In addition, there has been a boost in demand for advanced water treatment and wastewater management, along with increasing efforts to expand oil and gas. Stringent regulatory norms pertaining to safety of drinking water, and increased quality standards in the food industry is also auguring well for the metering pumps market. Introduction of advanced and improved metering pumps have also aided the growth of the metering pumps market significantly. Such pumps integrate digital technologies and have improved the monitoring capabilities of metering pumps. They have resulted in reduced maintenance and improved process control.
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Key Players
The key players of global metering pump market include Milton Roy Company (U.S.), Lewa GmbH (Germany), IDEX Corporation (U.S.), Injection Mcfarland-Tritan LLC (U.S.), Technical Control Incorporation (Spain), Seepax GmbH (Germany), Seko S.P.A. (Italy), Prominent Dosiertechnik GmbH (Germany), Swelore Engineering Private Limited (India) and SPX Flow Technology Norderstedt GmbH (Germany).
The competitive metering pump market landscape is characterized by the presence of large and small players mainly focused on innovation. New entrants have been able to venture into the metering pumps market thanks to the availability of affordable tools and technologies, resulting in still global and regional competition. Branding also plays a major part when it comes to metering pumps.
Segmental Analysis
The global metering pumps market has been segmented based on type and application.
- By type, the metering pumps market has been bifurcated into diaphragm and piston.
- By application, the chemical petrochemical, oil & gas, water & wastewater treatment, and others.
Detailed Regional Analysis
Asia-Pacific is projected to be an emerging Metering pump market. In the manufacturing sector the region has attracted considerable domestic and foreign investment. In addition, the region offers the benefits of economies of scale because of the availability of relatively cheap labor and low cost raw materials. China is the largest and is also forecast to be the fastest-growing metering pump market in the forecast period. China is the single-largest metering pump end-user. The availability of comparatively low-cost raw materials and the booming growth of end-use applications with high domestic and foreign investment drives China growth. During the forecast period Asia-Pacific is projected to dominate the metering pump market with high capacity expansion investments from manufacturers. Additionally, favorable government regulations help the region’s market flourish. The spiraling growth of end-use industries is also a key factor for boosting market growth.
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