Global High Pressure Pumps Market Overview
High pressure pumps are pumps specifically designed to bear pressure on the higher end. High pressure pumps play a vital role in several areas such as water supply and sewerage, draining for flood prevention, and agriculture. These pumps also play an important role in applications that are suitable for liquid transfer in washing systems, cooling and air-conditioning systems, water-supply systems, water-treatment systems, firefighting systems, industrial plants, and boiler feeding systems. The latest report launched by Market Research Future (MRFR) has suggested that the global high pressure pumps market is expected to witness sizeable growth in the forthcoming years, exhibiting a 3% CAGR.
Key Players
Prominent leaders present in the global high pressure pumps market include Cat Pumps (UK), Andritz (Austria), Maximator GmbH (Germany), GEA Group (Germany), Sulzer Ltd (Switzerland), Grundfos (Denmark), The Weir Group PLC (UK), Danfoss (Denmark), KSB SE & Co. (Germany), and Hammelmann (India).
Also Read: http://www.marketwatch.com/story/high-pressure-pumps-market-2020-business-trends-covid-19-impact-prominent-players-analysis-emerging-technology-demand-and-regional-outlook-by-2025-2020-06-18
Industry Highlights
As mentioned above, high pressure pumps have a varied scope of application, which is driving the global market over the forecast period. Apart from that, increasing demand of such pumps among metal fabrication and automotive industries has led to the ascension of the high pressure pumps market. Snowballing investments in the oil and gas industry has been observed owing to the rising demand for continuous supply of energy. These investments are bound to supplement the mounting demand for high pressure pumps. As per the information provided by the India Brand Equity Foundation (IBEF) Report, Oil and Natural Gas Corporation (ONGC) recently invested around $2.73 billion for the drilling of oil and gas wells in 2018-2019.
Moreover, the high pressure pumps market is projected to grow sizeably owing the magnified demand in the automotive industry. The automobile production increased by 7.08% CAGR between 2018 and 2019, as per the report launched by India Brand Equity Foundation. This has contributed to the ascension of high pressure pumps as it would become necessary to compress fuel at a high pressure injection in automobiles.
Global High Pressure Pumps Market Segmentation
The high pressure pumps market has been segmented and studied by type, pressure range, end-users, and region.
Based on type, the global high pressure pumps market segments studied by the report include dynamic displacement and positive displacement. The dynamic pump segment is projected to dictate the market. This can be accredited to the increased applications in different industries owing to their ability to generate different flow rates and cost-effectiveness. Furthermore, chemical manufacturers that are in need to create high pressure are also adopting dynamic pumps to reduce the cost of equipment in several chemical processes. This is also opening up new growth avenues for market players.
Based on pressure range, the high pressure pumps market is segmented into 30 Bar to 100 bar, 101 Bar to 500 Bar, as well as, above 500 Bar. Among these segments, the 30 to 100 bar segment is likely to register higher growth alternative to the other market segments over the forecast period. Attributable factors include the manufacturers who are using a series of such pumps for generating high pressure and lower space requirement, cost-effectiveness, and easy installation of the same.
Based on end-users, the segments of the global high pressure pumps market include chemical & pharmaceutical, oil & gas, power generation, and manufacturing industries. The oil & gas segment is projected to hold a dominant share of the market over the forecast period owing to the adoption of several types of pumps like submersible pumps, deep well pumps, helicon-axial pumps, twin-screw pumps, and progressive cavity pumps, for production, exploration, and transportation activities.
Regional Analysis
The high pressure pumps market is analyzed for regions of North America, South America, the Middle East & Africa, and Asia Pacific.
Asia Pacific region is accounted to be leading the global high-pressure pumps market driven by countries like China, Japan, and India, where industrial developments are carried out with high rates and proliferating. These are creating ultimate increase ways for the high-pressure pumps market with a higher CAGR.
Also, North America region is set to grow at significant pace during the forecast period due to the sectors like pharmaceutical, food & beverages, water treatment which are heavily reliant on water thus pushing the sales in the high-pressure pump market.
Browse Full Report at: https://www.marketresearchfuture.com/reports/high-pressure-pumps-market-1880
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