The global rotary pumps market size is anticipated to reach USD 14.9 billion by 2030, registering a CAGR of 4.7% over the period, according to a new report by Grand View Research, Inc. The rising demand for fluid handling across diverse industries like oil & gas, chemicals, and wastewater treatment has emerged as the primary driving force behind the market growth. Rotary pumps are gaining prominence due to their versatility in managing a wide range of fluids with varying viscosities, making them a preferred choice. In addition, for oil & gas and food processing industries, it is essential to control the process variables, such as discharge rate & pressure of the fluid. The market is significantly shaped by the expansion of end-use industries, such as oil & gas, food processing, and chemical processing industries.Get deeper insights, latest developments & key market drivers in the Global Rotary Pumps Market
Report Highlights
• The gear pump segment accounted for the largest share, owing to the characteristics of the pump that involve meshing of gears to generate pressure difference so that transfer of fluids can be done from one point to another
• The oil & gas segment accounted for the largest revenue share, as rotary pumps are effectively used in the oil & gas industry for tasks, such as moving crude oil from wellheads to storage tanks, facilitating transfers between storage tanks, and handling the loading & unloading processes involving tankers and pipelines
• Asia Pacific accounted for the largest share, due to growth in the agriculture and chemical & food processing industries. Furthermore, increased government expenditure in the water treatment and construction sector is expected to drive market growth
• Middle East & Africa accounted for the second-largest CAGR, owing to the rising oil production in the well-developed oil & gas industry
Key Companies & Market Share Insights
Manufacturers adopt several strategies, including acquisitions, mergers, joint ventures, new material developments, and geographical expansions, to enhance market penetration and cater to the changing requirements of various end-use industries. Some of the major companies have undertaken measures, such as technological upgrades and investments in R&D activities, to penetrate the market. For instance, in May 2023, 19 new sizes were added to the MegaCPK pump series by KSB SE & Co. KGaA. Given that clients can select from 55 sizes for pumps with more than 78 hydraulic systems, this product extension is anticipated to enhance the company's product mix for the chemical market.
Key Rotary Pumps Companies:
• Atlas Copco AB
• Dover Corporation
• Xylem Inc.
• Colfax Corporation
• IDEX Corporation
• Flowverse Corporation
• KSB SE & Co. KGaA
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Key questions answered in this report
• How big is the market?
• What is the market growth?
• Which region accounted for the largest market share?
• Who are the key players in the market?
• What are the key factors driving the market?