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Reciprocating Pumps Market Value Projected to Expand through 2018-2027

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Steve Blade
Reciprocating Pumps Market Value Projected to Expand through 2018-2027

The overall outlook of the reciprocating pumps market is anticipated to be positive. The demand for reciprocating pumps is expected to expand at a 5.6% CAGR in terms of value throughout the forecast period, 2018-2027. Reciprocating pumps market is projected to witness a significant growth, according to a latest report by Fact.MR. The reciprocating pumps market growth is being influenced by rising demand for oil and gas worldwide, especially in the petrochemical industry. The growing oil and gas demand is creating substantial opportunities for a range of industrial goods, including reciprocating pumps.

Each segment of the keyword market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:

  • North America (Canada, US)
  • Latin America (Argentina, Mexico)
  • Europe (NORDIC, UK)
  • APEJ (China, India)
  • MEA and Japan

Reciprocating pump sales are also influenced by prevailing trends, including steadily growing adoption of smart pumping systems. Sensing the evolving trends, reciprocating pump manufacturers are focusing on integrating sensors in the pumps to capture various parameters including liquid levels, temperature, and pressure.

Asia Pacific Largest Market for Reciprocating Pumps Market, followed by North America

The demand for reciprocating pumps is likely to grow significantly in the APEJ region, with total sales expected to surpass US$ 1,000 million by the end of 2018. China and India are among the most attractive markets for reciprocating pumps in APEJ.

Reciprocating pump sales in APEJ are likely to benefit from macroeconomic trends, notably growing investment in energy generation. The Government of India is adopting several policies to meet the increasing demand for oil and gas in the country. The gas pipeline infrastructure is also growing with the rise in manufacturing units and facilities in India. With the government allowing 100% FDI in natural gas, refineries, and petroleum products, foreign investors have started investing in refineries and petrochemicals projects in India.

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Macroeconomic trends are also impacting market growth in the Americas. The growing demand from offshore and onshore fields in the Gulf of Mexico is creating opportunities for reciprocating pump industry. Moreover, growing emphasis on developing unconventional resources in the US and Canada is driving the demand for oil and gas pumps including reciprocating pumps in North America.

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