by The global diaphragm pump market is poised for substantial growth in the coming years, driven by rising demand from the oil and gas sector and various other industries. According to the International Energy Agency (IEA), the worldwide oil demand is anticipated to surge by 2.1 million barrels per day in 2022 compared to the previous year. Recent disruptions in Russian oil production, along with the conflict in Ukraine, have created a significant oil supply shock, prompting countries like the United States and members of the Organization of Petroleum Exporting Countries (OPEC) to intensify exploration and production activities, further boosting the need for diaphragm pumps.
Technological advancements have led to the development of compact diaphragm pumps with simple designs, increasing their adoption across multiple industries. Diaphragm pumps offer versatile flow control, low maintenance costs, and minimal downtime, making them ideal for various applications. They are particularly well-suited for offshore drilling operations, where they can safely transport toxic and corrosive fluids without leakage. The market for diaphragm pumps is expected to expand further with the introduction of air-operated double diaphragm pumps designed to handle liquids containing large solids without electricity.
Growing Demand from Water and Wastewater Sector
The water and wastewater treatment industry is projected to be the fastest-growing segment for diaphragm pump end-users in the coming years. Diaphragm pumps play a crucial role in this sector, facilitating fluid transfer, metering, and dosing in wastewater treatment operations. Stringent regulations worldwide are compelling companies and urban areas to invest in wastewater treatment plants, increasing the demand for diaphragm pumps as untreated effluent can contain harmful contaminants that pose risks to the environment and public health.
Asia Pacific Driving Market Growth
The Asia Pacific region is a key driver of diaphragm pump market growth, with its industrial and manufacturing sectors expanding rapidly. The regions GDP is expected to rise, driven by industries such as water and wastewater treatment, pharmaceuticals, chemicals, oil and gas, power generation, and mining. The need to manage and expand power and fuel resources to ensure energy security, combined with geopolitical uncertainties affecting oil and gas supply, is boosting domestic exploration and production activities. Additionally, the pharmaceutical industry in the region is experiencing increased investment, driving up the demand for diaphragm pumps.
Indias Growing Refining Capacity and Investments
Indias investment in the refining and petrochemical industries has resulted in a significant increase in refining capacity. Similarly, China is also witnessing growth in its refining capacity. These developments, coupled with substantial foreign direct investment (FDI) in the petroleum, natural gas, and mining industries, are expected to bolster the diaphragm pump market in the region. Recent water treatment projects in India, such as the Kerala Water Authoritys plant in Aluva, further contribute to the rising demand for diaphragm pumps in the forecast period.
Competitive Landscape
Key players in the diaphragm pump market include URACA (Germany), PSG (US), Flowserve Corporation (US), Xylem, Inc. (US), Ingersoll Rand Inc. (US), Grundfos Holding A/S (Denmark), Kimray Inc. (US), SANDPIPER Pump (US), Tapflo AB (Germany), Yamada Corporation (Japan), Wanner Engineering Inc. (US), LEWA GmbH (Germany), Verder International B.V. (Netherlands), IDEX Corporation (US), Dr. JESSBERGER GmbH (Germany), SPX FLOW (US), Price Pump (US), Wenzhou Kaixin Pump Co., Ltd. (China), Versamatic (US), and SERFILCO (US).
As the global demand for diaphragm pumps continues to rise across various industries, these market players are poised to play a pivotal role in meeting the increasing requirements and maintaining the markets upward trajectory.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/diaphragm-pump-market
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This press release first seen on Brilad
COMTEX_441973506/2840/2023-10-16T10:53:46
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.