Diaphragm Pump Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The diaphragm pump market is expected to register a CAGR of more than 6.1% during the forecast period of 2022-2027. The COVID-19 pandemic has negatively impacted the growth of the diaphragm pump market, since the industrial sector has faced a significant decline in demand during the pandemic with consequent lockdowns. During 2020 and 2021, smaller players and organizations with relatively weak financial positions got shut down, which resulted in reducing the total industrial manufacturing capacity and consolidating the consumer sectors. Moreover, due to the growing demand for oil and gas, recovery in oil price, and the increasing number of onshore and offshore fields reaching their maturity along with exploration, and production activities are expected to make a shift towards deeper offshore regions, resulting in increasing offshore ultra-deepwater projects. This, in turn, is expected to drive the diaphragm pump market during the forecast period. However, technological advancements in the alternative options of conventional pumps, such as solar pumps, are expected to hinder the diaphragm pump market during the forecast period.

Key Highlights

• The water and wastewater sector is expected to dominate the market growth, owing to the development of water and wastewater infrastructure, in line with the surging demand for clean water. The demand for pumps from the water and wastewater industry is growing rapidly on account of increasing government concerns. This, in turn, is expected to propel the demand for the diaphragm pump market during the forecast period.
• Furthermore, the manufacturing of pumps has witnessed a combination of 3D printing technology with computer modeling, which has led to cutting edge development in pump design, repair, and replacement, which, in turn, drives the global market for diaphragm pumps and provides an opportunity for market growth in the coming years.
• Asia-Pacific dominated the market across the world in 2021, with the majority of the demand coming from China and India, owing to rising economies and growing population. Asia-Pacific is also the fastest-growing region, and this trend is expected to remain the same during the forecast period.

Key Market Trends

Water and Wastewater Sector to Dominate the Market

• Most of the human and industrial activities that use water produce wastewater. As the overall demand for water grows, the quantity of wastewater produced and its overall pollution load are continuously increasing worldwide. As a result, governments across the world have introduced strict policies and regulations regarding wastewater treatment for both the municipal and industrial sectors.
• Around two-thirds of the world’s population live in areas that experience water scarcity for at least one month a year. Around 50% of the people facing this level of water scarcity live in India and China. Therefore, the demand for the treatment of wastewater, produced as a result of human and industrial sector water usage, is expected to grow in order to improve the efficiency of water usage and meet the water demands.
• As of 2021, China has around 64.72% of urban population in country's overall population share. Urban wastewater treatment plants play a crucial role in treating the waste in a proper manner.
• Moreover, according to the United Nations University Institute of Water, Environment, and Health, in 2020, high-income countries treat around 74% of the industrial and municipal wastewater they generate., and this ratio dropped to 43% in upper-middle-income countries and about 26% in lower-middle-income countries. With increasing awareness about the environment and growing water shortage, the demand for water treatment plants, and in turn, the usage of diaphragm pumps in water treatment plants are expected to increase in the developing countries.
• In January 2022, Kerala Water Authority had started the construction of a water treatment plant at Aluva having a treatment capacity of 142 million liters per day (MLD). The plant is likely to cost INR 180 crore and is expected to be completed by 2024. Thus, such upcoming water treatment projects are likely to increase demand for diaphragm pumps during the forecast period.
• Therefore, the growing concerns regarding the environmental impact of wastewater and water scarcity, stricter government regulations, and declining cost of water treatment plants are expected to drive the water treatment industry and, in turn, the demand for diaphragm pumps during the forecast period.

Asia-Pacific to Dominate the Market

• Asia-Pacific is witnessing huge economic growth, in terms of development of industrial infrastructure. The growth is mainly due to the increase in population, that are in turn, leading to industrial growth.
• Countries such as China and India are in a growing phase. The high rate of population growth has led to the increased requirement for water supply, which is leading to wastewater management. This, in turn, is expected to increase the market for diaphragm pumps.
• India’s investment in the refining and petrochemical industry is expected to pave a way for the diaphragm pump market in India. The refining capacity of India grew to 249.87 million metric tons as of 2021, with an increase of 16.18% from 2015. The refining capacity of China is also on the rise, with a recent contract for 1 MTA ethylene and refinery expansion project of Sinochem Quanzhou Petrochemical.
• Additionally, during 2000-2021, India attracted FDI investment of about USD 763.83 billion and in 2021 the FDI investment in the petroleum, natural gas, and mining industry was approximately USD 81.97 billion. Thus, high investments, supportive policies, and various industries are likely to propel the diaphragm pump market in the region during the forecast period
• Most of the countries in the Asia-Pacific region have a positive outlook pertaining to industries, such as water and wastewater, and oil and gas, etc. which, in turn, is expected to drive the demand for diaphragm pumps during the forecast period.

Competitive Landscape

The diaphragm pump market is fragmented. Some of the major players in this market includes Dover Corporation, Ingersoll-Rand PLC, Idex Corporation, Graco Inc., and Tapflo Group.

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