Impact of the COVID-19 Outbreak on the Metering Pump Market
The spread of the COVID-19 pandemic has negatively impacted the global metering pump market owing to the lockdowns imposed in the majority of the countries across the globe since December 2019. A metering pump is designed to move fluids at highly precise flow rates over certain periods of time. Metering pumps are also known as chemical dosing pumps or chemical injection pumps. They are used for maintaining a high level of accuracy in pumping a wide variety of liquids in a host of end-use industries. The rising demand for environmentally friendly wastewater disposal and increasing investments in the modernization of infrastructure are estimated to drive the global metering pump market. Moreover, the increasing usage of metering pumps across waste and wastewater treatment, food & beverage, pulp & paper, petrochemicals, and oil & gas, among other industries, is expected to drive market growth for metering pumps in the forecast period. The demand for these products has been hampered temporarily in recent months owing to the shutting down of businesses globally. However, the demand for metering pumps is anticipated to recover in the coming months and grow significantly in the long term.
FIGURE: IMPORTS OF POWER-DRIVEN CENTRIFUGAL PUMPS IN ASIA (USD BILLION)
Factors such as increasing urbanization and high focus on water conservation & wastewater management are expected to fuel the demand for metering pumps over the next three years. Moreover, increasing infrastructure development would also drive the use of metering pumps, particularly in industrial applications. For instance, according to the India Brand Equity Foundation (IBEF), India would require an investment of USD 777.73 billion in infrastructure by 2022, to ensure sustainable development in the country. This will, in turn, boost the demand for metering pumps in the country. Governments across the world are focusing on the development of strict regulatory policies to build sustainable water systems, including the development of centralized systems for proper distribution and design of water treatment models.
Source: Primary Experts, Secondary Sources and MRFR Analysis