Plunger Pumps Market Intelligence

Industry Outlook & Drivers

Global Market Outlook–Plunger Pumps

• The plunger pump market in 2016 stood at $990 million globally. The market is projected to grow steadily at a CAGR of 4.21 percent between 2016 and 2021(F)
• By 2021, the market value is expected to increase by $226 million. The highest growth in terms of application is expected to be registered from segments such as water treatment, construction and power generation

• Global market size for Industrial pumps was estimated to stand at $46 billion in 2016. The market is expected to grow steadily at a CAGR of 5.3 percent between 2017 and 2021(F)
• Increasing infrastructure development across the developing countries are speculated to contribute to the product market in the next five years
• Industrial pumps are expected to have steady demand throughout the forecasted period backed by its essential applications in the chemical industry, water treatment and transportation of various fluids
• As a result of the significance of pumps in various industries, the market is expected to add approximately $11 billion by 2021(F)
• Increasing necessity of sanitation in developing nations of Africa, Asia and Latin America is expected to propel the waste water treatment and disposal industry; thereby increasing the demand for pumps in these applications

Global Market and Demand for Plunger Pump

• Plunger pump market in 2016 stood at $990 million globally. The market is projected to grow steadily at a CAGR of 4.21 percent between 2016 and 2021 (F)
• By 2021, the market value is expected to increase by $226 million.The highest growth in terms of application is expected to be registered from segments such as water treatment, construction and power generation

Demand Trends

• Increasing growth in the global economy, investments and living standards of people has prompted an increase in urban infrastructural planning and development
• As a result of these improvements, the demand for plunger pumps is expected to increase from segments such as power generation, water treatment and construction

Shifts in Market

• Market penetration in terms of value from the chemical manufacturing sectors are expected to witness a meagre growth rate of CAGR 1.61 percent
• Increasing awareness and shifting of demand towards green energy and clean fuel technologies is expected to weight down on the value share for pumps from the oil and gas industry

Key Challenges

• The collapse of oil prices in the recent time has hurt the pump industry drastically due to slow down in pump intensive projects and applications
• Downsizing of companies and sluggish wage growth have prompted a shortage in skilled engineers and technical personnel's. Only the companies that continue to improve their innovative designs and pump's efficiencies according to the customers demand is seen to survive and thrive in this billion dollar industry