Positive Displacement Pumps Market Application Growth Potential, COVID19 Impact Analysis, Price Trends, Size, Forecast, Competitive Market Share & Regional Outlook, 2021 – 2028

Positive Displacement Pumps

The ever-increasing need for oil&gas, power, and food&beverage in emerging countries has fueled the rise of the Positive Displacement Pumps Market. Product demand has risen as a result of many critical performance parameters in oil and gas and wastewater management. Increased oil and gas exploration and production in North America are driving market expansion. The ever-increasing demand for oil&gas, power, and food&beverage in emerging countries has aided the growth of the pumps market. Product demand has risen as a result of a number of critical performance variables in oil and gas, as well as wastewater treatment. Increased oil and gas exploration and production in North America are major drivers of market expansion.

Because of the prevalence of unconventional feedstock that requires more processing, the market for PD pumps in the refining industry is growing. Because of the increased population and rising per capita consumption of power and fuel, the oil and gas industry is expected to grow rapidly through 2028. Pumps will be in high demand in refineries for fluid control, which will help the industry grow. The need for water treatment facilities and wastewater management systems will continue to rise in the near future as the population of major geographical markets grows. In the coming years, the wastewater industry will be one of the main buyers of the product. Due to the massive number of end-user industries and quickly increasing infrastructure, Asia is expected to account for a significant market share.

Positive Displacement Pumps Market growth would be aided by rising global demand for food and drinks. The current global food and beverage supply are being strained by the expanding population. Food and beverage firms are extending their production capacity or even launching new product lines to fulfill the ever-increasing food demand. In the coming years, the market for positive displacement pumps is projected to face certain hurdles. Centrifugal and other pump types are expected to become more competitive in the future. Furthermore, the market expansion would be hampered by shifting raw material prices.

The advent of the COVID-19 pandemic has had an impact on the Positive Displacement Pumps Market revenue generation and profitability. Lockdowns and other restrictions have been implemented by governments all around the world, significantly impacting the demand in major markets. Furthermore, due to demand shocks produced by the pandemic, several end-user sectors have lost significant revenue, resulting in lower product demand in 2021.