New York, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Metering Pump Market Research Report: By Type, End User - Global Industry Analysis and Growth Forecast to 2030" - https://www.reportlinker.com/p05982483/?utm_source=GNW
As the population across the globe is increasing, the demand for fresh and clean water is also surging. However, owing to swift industrialization, water bodies have been polluted. This has caused a major crisis, especially in developing countries, where adequate facilities are not present for catering to the needs of people. In order to take care of this problem, governments of various countries have implemented several regulations regarding water treatment.
Since metering pumps are used widely in the water treatment sector, the global metering pump market is expected to grow at a considerable pace in the years to come. These pumps are utilized for feeding chemical additives to the wastewater for eliminating slurry, pollutants, and harmful microorganisms. Other than water treatment plants, the demand for metering pumps is also growing from the oil & gas industry. In the industry, metering pumps are utilized in the dosing of corrosion inhibitors and the extraction of natural gas & oil.
The increasing product of crude oil in the U.S., Iraq, Russia, Saudi Arabia, and many other countries is driving the demand for metering pumps. According to the U.S. Energy Information Administration, 10.96 million barrels of crude oil were produced in the U.S. in 2018. The production of crude oil is projected to grow further in the coming years. This rising production of crude oil is projected to drive the demand for metering pumps in the coming years.
The metering pump market is projected to attain a value of $6.8 billion in 2030, increasing from $4.4 billion in 2019, progressing at a 3.9% CAGR during the forecast period (2020–2030). When type is taken into consideration, the market is divided into piston and diaphragm, between which, the diaphragm division held the larger share of the market during the historical period (2014–2019). The division is further expected to witness the higher CAGR during the forecast period, owing to the various advantages of these metering pumps.
Diaphragm metering pumps have the ability to handle corrosive, abrasive, and flammable liquids, along with the ability to pump liquids of much-higher viscosities. In addition to this, these metering pumps are more cost-efficient and energy-efficient to operate in the long run, as compared to their counterparts. These pumps are further of two types, namely polytetrafluoroethylene (PTFE) and metallic, between which, the PTFE type accounted for the larger share of the market in 2019. These pumps are robust and flexible.
Geographically, the metering pump market was dominated by Asia-Pacific during the historical period. Within the region, India and China, accounted for the major share of the regional market, due to the industrial expansion and surging population that is creating high requirement for fresh water. The region is further expected to witness the fastest growth during the forecast period, owing to the increasing developmental activities, such as setting up of new manufacturing facilities in different industries.
In conclusion, the market is growing due to the increasing demand for metering pumps from oil & gas industry and rising need for fresh water.
Read the full report: https://www.reportlinker.com/p05982483/?utm_source=GNW
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November 04, 2020 at 05:12AM
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