Positive Displacement (PD) Sanitary Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 04/03/2017 -- Positive displacement (PD) sanitary pumps find a wide set of applications across a number of industries owing to their ability to effectively handle high differential pressure and high-viscosity fluids. The rising consumer preference to processed foods across developed as well as developing economies and improved awareness regarding the adherence of sanitation practices among consumers as well as companies operating in the food sector are driving the increased adoption of these pumps in the food and beverages industry. The market is also seeing favorable growth owing to the stringent regulations compelling companies to adhere to better sanitation and standards is also a key factor driving the market.
Moreover, the increased adoption of advanced pump systems capable of providing real-time feedback of system performance of machineries has also helped in bolstering the demand for PD sanitary pumps across industries such as pharmaceuticals and biotechnology.
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Transparency Market Research states that the global PD sanitary pumps market will exhibit a strong 10% CAGR over the period between 2016 and 2024. This will allow the market, which held an opportunity worth US$4.55 bn in 2015, to rise to a valuation of US$10.65 bn by 2024.
PD sanitary pumps are chiefly available in two varieties based on the motion of the internal machinery to move fluids: rotary and reciprocating pumps. Of the key varieties of rotary PD sanitary pumps available in the market, the segment of gear pumps is presently the most preferred one. Gear pumps accounted for a share of nearly 32% of the overall revenues of the rotary PD sanitary pumps market in 2015.
The versatility and flexibility offered by gear pumps, along with their economic nature are expected to lead to their sustainable demand across key end-use industry in the next few years. However, the segment is expected to lose prominence to the twin screw pumps variety and see a substantial decline in their share in the rotary pumps market revenues in the next few years.
Of the key varieties of reciprocating PD sanitary pumps studied in the report, the segment of diaphragm pumps led with a 54% share of the reciprocating PD sanitary pumps market in 2015. This segment is also expected to remain the foremost contributor to the reciprocating PD sanitary pumps market's overall revenues over the period between 2016 and 2024.
The majority of demand for these diaphragm pumps will be driven by the electronics industry where they can be conveniently used for handling harmful chemicals used during the production of semiconductors and semiconductor parts.
Asia Pacific is presently the leading regional market for PD sanitary pumps, accounting for a share of nearly 39% in the global market in 2015. The region is expected to retain its command on the global market over the period between 2016 and 2024 as well and witness a slight increase in its share in the global market by 2024.
Excellent growth of the region's construction and manufacturing sectors over the past several years and sizeable rise in awareness regarding the necessity of adhering to sanitation practices among both, consumers as well as industries, are expected to be the chief factors driving the market in the near future. The market for PD sanitary pumps in Asia Pacific is expected to rise at a swift pace of 10.8% CAGR from 2016 and 2024 compared to other key regional markets for PD sanitary pumps.
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The Middle East and Africa market for PD sanitary pumps is expected to be the one with the next most promising growth opportunities over the said period. Middle East and Africa accounted for only 6.3% of the global market in 2015.
However, it is expected to expand at an 9.8% CAGR from 2016 and 2024. The promising rise in manufacturing activities and continuous rise in population have led to a substantial rise in demand for desalination plants in the region, thus driving the market for PD sanitation pumps. The rising number of producers, suppliers, and retailers in the food and beverages industry in the region has also led to the increased demand for such pumps.