Efforts to Modernize Industrial Processes Positively Impacts Demand
OREANDA-NEWS. The growing concerns pertaining to hygiene have created an impressive demand for positive displacement (DP) sanitary pumps across various industrial sectors. These pumps are being preferred in various end-use industries such as the food and beverage, pharmaceutical, biotechnology, cosmetics, textile, water treatment systems, and others such as biofuel and semiconductors as they have an impeccable ability to handle high-viscosity fluids and high differential pressure. The demand for PD sanitary pumps is especially being fueled by the rising need to adhere to food safety norms in the food and beverage industry.
Q. What will drive the demand for gear pumps in the coming years?
A. PD sanitary pumps are segmented on the basis of technique they use to move fluids into reciprocating pumps and rotary pumps. Amongst the various types of rotary PD sanitary pumps, the gear pumps segment is witnessing a spike in sales. As of 2015, this segment held a share of 32% in the global PD sanitary pumps market. The demand for these pumps is expected to be driven by the flexibility and versatility of these pumps. Their cost-effectiveness is also anticipated to drive the demand for gear pumps in the near future.
Q. What are the competitive strategies being adopted by key players in the market?
A. Companies such as Fristam Pumps, IDEX Corporation, SPX Corporation, Xylem Inc., Alfa Laval AB, and ITT Corporation are the key contenders in the global PD sanitary pumps market. Transparency Market Research’s latest report states that these players will focus on acquisitions to expand their product portfolio in the coming years. These players are also expected to collaborate with vendors from other regional markets to strengthen their geographical reach.
The growing efforts to modernize the industrial processes and manufacturing sectors have boosted the demand for PD sanitary pumps in the recent past. This trend can prominent across developing countries of Brazil, China, India, and other economies. The revenue of PD displacement sanitary pumps market is anticipated to rise at a CAGR of 10.1% between 2016 and 2024 as the industrial sector is readily adopting intelligent pump systems. The demand for these pumps is noted to be increasing as they allow a real-time feedback, which can be further analyzed to improve the system performance. Thus, analysts state that the opportunity in the global PD sanitary pumps market will be worth US$10.65 bn by 2024 as compared to US$4.55 bn in 2015.
A. Geographically, the global market is segmented into Europe, North America, the Middle East and Africa, Latin America, and Asia Pacific. Out of all these regions, Asia Pacific is anticipated to lead the global market with a share of about 39% in the overall market. The noteworthy growth in the region’s construction and manufacturing sectors is expected to propel the demand for these pumps in the coming years. The increasing awareness about sanitation is also anticipated to play a critical role in the uptake of PD sanitary pumps in the Asia Pacific market in the coming years.