Chicago, Oct. 18, 2023 (GLOBE NEWSWIRE) -- The Metering Pumps Market size is estimated to be USD 6.9 Billion in 2023 and is projected to reach USD 8.5 Billion by 2028, at a CAGR of 4.3% between 2023 and 2028, as per the recent study by MarketsandMarkets™. Metering pumps play a crucial role in the chemical process industry by facilitating the precise dosing of fluids over specific time periods, ensuring accuracy in various applications. These pumps find extensive use in sectors such as water treatment, petrochemicals, oil and gas, chemical processing, pharmaceuticals, food and beverages, and pulp and paper, thanks to their unique and tailored operations. Key drivers for their adoption include stringent governmental regulations pertaining to water treatment, the expansion of the chemical and petrochemical sectors, robust growth in the pharmaceutical industry in emerging economies, and rising demand for these pumps.
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Browse in-depth TOC on "Metering Pumps Market”
267 - Market Data Tables
43 - Figures
254 - Pages
List of Key Players in Metering Pumps Market:
- Ingersoll Rand, Inc. (US)
- ProMinent GmbH (Germany)
- IDEX Corporation (US)
- Grundfos Holding A/S (Denmark)
- Seko S.P.A. (Italy)
- Dover Corporation (US)
Drivers, Opportunities and Challenges in Metering Pumps Market:
- Drivers: Increasing Stringency in Wastewater Treatment Regulations
- Restraint: Raw Material Price Volatility
- Opportunity: Expanding Industrial Operations and Growing Demand for Digital Pumping Solutions
- Challenge: Rising Demand for Customization
Key Findings of the Study:
- The diaphragm pump segment is expected to dominate the metering pumps market during the forecast period
- Pharmaceutical segment to register the highest CAGR during the forecast period.
- Motor driven pumps led the Metering pumps market in 2022
- APAC estimated to account for the highest share of the metering pumps market during the forecast period
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The metering pumps market encompasses the global industry for specialized pumps designed to dispense precise volumes of fluids accurately and consistently in various industrial processes. These pumps are employed across diverse sectors such as water treatment, chemical processing, pharmaceuticals, petrochemicals, food and beverage, and pulp and paper production, among others. They play a pivotal role in maintaining the integrity of fluid compositions, ensuring precise chemical dosing, and complying with stringent quality and environmental standards. The market includes a range of metering pump types, including diaphragm, piston, plunger etc. offering solutions tailored to specific application requirements. Factors such as stringent regulations in water treatment, growth in chemical and pharmaceutical industries, and the need for precise fluid handling contribute to the market's growth and prominence in various industrial processes.
The segmentation considered for this report is based on type, end-use industry, pump drive, and region that constitute the key markets. The metering pumps market can be segmented based on types such as diaphragm pumps, pistons/plungers, and other types. By type, diaphragm pumps dominated the market in 2022. Diaphragm pumps dominate the metering pump market due to their controlled dosing of a wide range of fluids, including corrosive and hazardous chemicals. Their sealed design ensures safety, while minimal maintenance requirements and long lifespan make them cost-effective. The market for double diaphragm pumps is seeing growing demand from the chemicals industry as well as rising investments in the water and wastewater sectors.
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The metering pumps market can be segmented based on end-use industry as water treatment, petrochemicals and oil & gas, chemical processing, pharmaceuticals, food & beverages, pulp & paper, automotive, textile, and other end-use industries. The water treatment end-use industry dominated the market in 2022. The rising industries in power, mining, oil & gas, pulp, chemicals, and other fields are also the main contributors to the market growth. Due to these businesses' high water consumption and large effluent production, the demand for potable water is growing, which causes a greater emphasis to be placed on wastewater treatment during the forecast period.
The metering pumps market can be segmented based on pump drive as Motor-driven, Solenoid-driven, Pneumatic driven, and Other Pump Drives. By Pump Drive, Motor driven segment accounts for the largest share of the metering pumps market. These pumps require minimal supervision. These pumps provide several other characteristics such as wide capacity range, accurate metering even in fluctuating pressure conditions.
By region, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is the dominant region in the metering pumps market, during the forecast period. Factors such as the growth of the manufacturing sector and the shifting of the manufacturing facilities to India, China, and ASEAN countries support the market growth in APAC. India is the leading market in the region. Growing industrialization, low raw materials, and labor cost are a few factors that drive the metering pumps market in these countries.
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