The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global rotary pumps market size during the period until 2028. This assessment delivers high-end statistics concerning market size, Y-o-Y growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the rotary pumps market during the forecast period.
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Growing access to water supply and importance of sanitation in most developing nations is generating numerous opportunities for rotary pump market players. Furthermore, increased disposable income of consumers is inducing a rise in discretionary spending, especially on chemicals and fuel, which is boosting demand for rotary pumps in process manufacturing industries in developing countries. Recent growth in infrastructure developments and ongoing industrialization in emerging economies, such as India and China, are further complementing adoption of rotary pumps. This is likely to heighten competition in the rotary pumps market in developing countries, as it will remain highly consolidated among leading rotary pump manufacturers.
Market players are migrating their production facilities in Asian countries, where labor cost is lower, to scale higher on the cost-efficient features of rotary pumps and boost profitable sales. Pricing rotary pumps competitively is aiding market players to establish a stronger position in highly competitive local markets for rotary pumps in emerging economies. Internet of Things (IoT) and Industry 4.0 are among the advanced technologies that are rapidly covering grounds in the industrial automation space. Pump manufacturers are eyeing opportunities to introduce highly efficient and cost-effective pumps and capitalize on growing preeminence of advanced technologies in industrial sectors. For example, Pentair plc – a water treatment company headquartered in the U.S. – recently introduced energy-efficient pool pumps integrated with next-generation connected technologies that can automate various processes such as heating, filtering, moving, or sanitizing pool water.
Another leading player in the rotary pumps market – ITT Inc. recently introduced i-ALERT compatible Bluetooth® Smart Pressure Sensor, using the Industrial Internet of things (IIoT) technology platform to provide a monitoring solution for industrial pump applications, including rotary pumps. A majority of rotary pump manufacturers are likely to adopt strategies to incorporate Software-as-a-Service (SaaS) models and other IT services with conventional design of rotary pumps to introduce value-added characteristics of pumps. Thereby, launching innovative models of smart or intelligent rotary pumps and consolidating a stronger position in the rotary pumps market as a One-stop solution providers is likely to emerge as a predominant market trend in the coming years.
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Rotary pumps are a popular type of positive displacement pumps among end-users from a wide range of industrial sectors, such as water & wastewater, power generation, chemical, and oil & gas. Owing to the extraordinary design benefits, rotary pumps present one of the most versatile pumping solution that can handle high viscosity fluids in a vast range of industrial applications. Despite the rise in adoption of rotary pumps across various industrial sectors, low efficiency and low volume degree of rotary pumps is restricting its adoption. Furthermore, due to stringent efficiency standards and regulations, rotary pump sales across various end-user industries have plummeted in the past few years. The Energy Policy and Conservation Act of 1975 (EPCA) by the Department of Energy compels rotary pump manufacturers to comply with energy efficiency standards for industrial equipment. Furthermore, the emissions standards issued by the California Air Resources Board (CARB) compels rotary pump manufactures to adopt emission-certified engines in rotary pumps.
New efficiency standards and regulations developed by international governing bodies are forcing manufacturers in the rotary pumps market to modify their manufacturing and marketing strategies. This may make it more challenging for rotary pumps market players to maintain competitive prices and gain an edge in the market.
The oil price collapse and declining levels of petroleum and natural gas exports are impeding growth of the oil & gas industry. The oil price crash is leading to upset the global economy, making a severe impact on oil & gas market player. Additionally, it has a major share in causing a sharp decline in demand for rotary pumps in oil & gas industrial applications, as rotary pumps are among the most sought-after types of pumps used to handle fuel oils and natural gas. Manufacturers in the rotary pumps market are likely to shift their focus on capturing sales opportunities in other application industries as declining oil & gas industry is restricting developments in the rotary pumps market.
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Rotary Pumps Market Estimated to Soar Higher through 2018-2028
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