High Pressure Pumps Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The high pressure pumps market expected to witness significant growth of CAGR greater than 3% majorly due to increasing end user industry such as oil & gas, chemicals & petrochemicals, food & beverage, pharmaceuticals etc. However, volatile nature of oil and gas prices are expected to hinder the high pressure pump market during the forecast period.

Key Highlights

• The manufacturing industries sector is expected to dominate the market growth owing to growth of textile industry, steel manufacturing sector, food processing, and automotive industry. The demand for high pressure pumps from steel manufacturing industry is growing rapidly on account of massive demand for steel from growing economies. This, in turn, is expected to propel the high pressure pump market during the forecast period
• Furthermore, The manufacturing of pumps have witnessed combination of 3D printing technology combines with computer modelling has led to a cutting edge development in pump design, repair and replacement which, in turn, drives the global market for high pressure pumps and provide opportunity for the market in coming future.
• Asia-Pacific dominated the market growth across the globe in 2018, with most of the demand coming from China and India, owing to rising economies and growing population. The Asia Pacific is the fastest-growing region and this trend is expected to be the same in forecast period.

Key Market Trends

Manufacturing Industries Sector to Dominate the Market

• Global manufacturing sector is equally important for both the developing and the developed world. In the former is provides a means to support growing economies and increasing population, while in latter it is a means of innovation and competitiveness.
• Manufacturing sector related to steel production, processed food and beverages and automotive industry have seen a rapid growth is recent years and is expected to follow this trend in forecast period. High pressure have a variety of applications in manufacturing industries sector, from handling water in steel manufacturing, to transporting chemicals and fluids in automotive sector.
• Steel manufacturing industry have also been on a rise in recent years, with China, Japan, and India holding top three positions in steel manufacturing. High pressure pumps are used to spray water on newly made steel to remove scales.
• Therefore, the increasing population, rising economies, and dropping prices of high pressure pumps are expected to drive the demand of high pressure pumps in manufacturing industry sector during the forecast period.

Asia-Pacific to Dominate the Market

• Asia-Pacific is witnessing huge economic growth which has resulted in the development of industrial infrastructure. The industrial infrastructure in the region witnessing growth with policy level focus on driving the industrial sector.
• Most of the countries in the Asia-Pacific region is in a growing phase and the high rate of population growth has led to increased demand for various manufactured items such as food, textile, steel, electricity, etc. The majority demand is coming from China and India owing to rapid economic growth and increasing population, which in turn is expected to increase the market for high pressure pumps.
• India’s investment in refining and petrochemicals industry is expected to pave a way for the high pressure pump market in India. Refining capacity of India grew to 22495.43 TMT in March 2019, an increase of 6.51% from March 2018. 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.
• Most of the countries in the Asia-pacific region have positive outlook pertaining to industries such as manufacturing sector, steel industry, oil & gas, etc. which, in turn, are expected to drive the demand for high pressure pumps during the forecast period.

Competitive Landscape

The high pressure pumps market is fragmented due to a lot of small and big companies operating in the industry. The key players in this market Suzler Ltd.,Grundfos Holding A/S, CAT Pumps, Comet S.p.A, Maximator GmbH, Andritz AG, Zhejiang Danau Industries Co., Ltd., Danfoss A/S among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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