High Pressure Pump Market Projected to Garner Significant Revenues by 2025
High pressure pumps are widely used in automobile, textile, food and chemical industry. Rapid growth in these industries is projected to upsurge the demand of high pressure pumps in the near future. High pressure pumps are designed to withstand pressure greater than the normal pressure. The selection of the pump depends on the available space, type of liquid to be pumped and its volatility and the limit up-to which the liquid may contains solids. In refineries, the pumps that meet the API (American Petroleum Institute) standards are preferred in order to cope up with high pressure and temperature. The materials used for the high pressure pumps vary from ductile cast iron to exotic materials like titanium and zirconium depending upon the application of the pump. The type of high pressure pump to be used depends upon the flammability, toxicity and corrosive or erosive nature of the liquid.
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Based on product type, dynamic high pressure pumps are expected to dominate the global high pressure pump market during the forecast period. However, positive displacement high pressure pumps are projected to witness significant growth in the near future. Dynamic high pressure pumps are widely used in the oil and gas industry for paint and rust removal from the metal parts, cleaning of heat exchanger and de-choking of tube, etc. Based on applications, manufacturing sector is expected to dominate the global high pressure pump market. Rapid increase in the manufacturing industries across the globe especially in Asia Pacific region is further expected to escalate the demand of high pressure pump.
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High Pressure Pump Market: Dynamics
The increasing preference to green chemical industry is expected to upsurge the demand of high pressure pumps in the near future. Many industries use high pressure pumps for the treatment of water and waste water coupled with modern water hydraulic application in end-use industries such as mining, water treatment, and paper among others. This is expected to increase the adoption of high pressure pump over the forecast period. This is mainly attributed to applications of high pressure pumps in underground mining stations, descaling systems, water-jet cutting systems, pool oil water circulation and reverse osmosis for seawater among others in the aforementioned industries. Additionally, increasing manufacturing industries across the globe is expected to drive the growth of the global high pressure pump market during the forecast period.
One of the major factors restricting the growth of the global high pressure pump market is the slowdown in the oil & gas industry.
High Pressure Pump Market: Region Wise Outlook
Based on regions, Asia Pacific is expected to dominate the global high pressure pump market during the forecast period. The rapid growth of manufacturing and other sectors in countries such as China and India in Asia Pacific region is expected to upsurge the demand of high pressure pumps in the near future. North America region is expected to witness significant growth during the forecast period. Increase in pharmaceuticals and food industry in North America is expected to upsurge the demand of high pressure pump in the near future. Europe and Latin America are projected to witness promising growth in high pressure pump market during the forecast period.
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High Pressure Pump Market: Market Participants
Examples of some of the prominent players identified in the global high pressure pump market are as mentioned below:
ANDRITZ AG, GEA Group, Danfoss A/S, The Weir Group PLC, Maximator GmbH, Hammelmann GmbH, Sulzer Ltd., KSB Aktiengesellschaft, Grundfos, Cat Pumps, The Mcfarland Group
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