ID: MRFR/E&P/1348-HCR | February 2021 | Region: Global | 111 pages
High pressure pumps market size is projected to reach USD 3.23 Billion by 2025 from USD 2.51 in 2018, with a CAGR of 3.24% during the forecast period.
The major factors driving the growth of the global market of high pressure pumps include rising investments in the oil and gas industry. According to the India Brand Equity Foundation (IBEF) Report, Oil and Natural Gas Corporation (ONGC) has invested USD 2.73 billion on drilling oil and gas wells in 2018-19.
Additionally, the high pressure pumps global market is projected to grow at a high rate during the forecast period due to increasing demand for manufacturing automobiles. According to the India Brand Equity Foundation (IBEF) Report, the automobile production increased at 7.08 percent CAGR between FY13-18 with 29.07 million vehicles built in the country in FY18. During April 2018-January 2019, automobile production increased by 9.84 percent year-on-year to reach 26.26 million vehicle units. This would drive the high pressure pumps market, as this would increase the demand for high pressure pumps to compress the fuel at a high pressure injection in automobiles. Adoption of carbon capture and storage (CCS) would act as an opportunity for the High Pressure Pumps market. As per the global status of CCS, released in December 2018, 43 large-scale CCS facilities are in operation or under construction and development around the world.
The key players operating in the global high pressure pumps market are Cat Pumps (UK), Maximator GmbH (Germany), Andritz (Austria), GEA Group (Germany), Grundfos (Denmark), Sulzer Ltd (Switzerland), The Weir Group PLC (UK), KSB SE & Co. (Germany), Danfoss (Denmark), and Hammelmann (India).
Moreover, several countries are expected to invest in CCS projects in the recent future. This indicates the future potential for the adoption of high pressure pumps and is expected to drive their demand during the forecast period. However, increasing fragmentation in the manufacturing of high pressure pumps would hinder the market growth, as it leads to declining profits.
Key players in the High Pressure Pumps global market such as Cat Pumps (UK), Maximator GmbH (Germany), Andritz (Austria), and GEA Group (Germany) are actively focusing on signing contracts and agreements with utilities and industries to supply High Pressure Pumps. Moreover, in 2018, Andritz signed a contract with Water Authority of Jordan to supply 12 multi-stage axial split case and high-pressure ring section pumps. This would add to the growth of the market, as the models have particularly high efficiency and, therefore, deficient energy consumption, and the new system lead to energy savings of up to 20 percent.
The global high pressure pumps market has been segmented based on type, pressure range, end users, and region. Based on type, the global market is segmented into dynamic and positive displacement. The dynamic pump segment is expected to dominate the market worldwide. This is due to their increased applications in various industries, owing to their ability to generate different flow rates and cost-effective adoption. Moreover, chemical manufacturers who need to create high pressure, use a series of dynamic pumps to reduce the cost of equipment in different chemical processes.
On the basis of pressure range, the global market is divided into 30 Bar to 100 bar, 101 Bar to 500 Bar, and above 500 Bar. Among these, 30 to 100 Bar segment is estimated to register the higher growth during the forecast period. This is because manufacturers are using a series of these pumps to generate high pressure, owing to their low-space requirement, low cost, and easy installation and maintenance.
Based on end users, the global market is divided into oil & gas, chemical & pharmaceutical, power generation, and manufacturing industries. Among these, oil and gas segment is expected to dominate the market during the historical period, due to the adoption of several types of pumps such as electric submersible pumps, helico-axial pumps, deep well pumps, progressive cavity pumps, and twin-screw pumps in exploration, production, and transportation activities.
The global high pressure pumps market is expected to witness substantial growth during the forecast period owing to the increasing power generation capacity globally. According to Global Energy Statistical Yearbook 2019, China accounted for nearly 60% of global growth due to the high demand for gas and electricity, coupled with the increase in power generation capacity.
On the basis of region, the global market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is expected to dominate the global market during the forecast period, owing to the extensive use of these devices in manufacturing industries such as steel and automotive, among others. The region is the largest market for the construction sector. The growth of the manufacturing industry, especially in Southeast Asian countries, along with an increase in power generation capacity in India, is expected to drive the market in the region. China, under the 13th Five-Year-Plan (2016-2020), has planned to invest around RMB 559 billion or 0.75 percent of its GDP on its water treatment industry. Moreover, North America is expected to be the second largest market for high pressure pumps due to high investments in the oil and gas industry, majorly in E&P activities. The US is expected to dominate the market in North America, because the sectors like pharmaceutical, food & beverages, water treatment are heavily reliant on water, thus driving the growth of high pressure pumps.
High pressure pumps are designed to bear pressure more than normal pressure. High pressure pumps play an active role in areas like water supply and sewerage, agriculture, and draining for flood prevention. High pressure pumps are widely suitable for liquid transfer in washing systems, cooling & air-conditioning systems, water-supply systems, water-treatment systems, firefighting systems, industrial plants, and boiler feeding systems. Increase in the demand of these pumps among metal fabrication and automotive industries has led to the growth of the market.
|CAGR||3.24% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Pressure Range and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Cat Pumps (UK), Maximator GmbH (Germany), Andritz (Austria), GEA Group (Germany), Grundfos (Denmark), Sulzer Ltd (Switzerland), The Weir Group PLC (UK), KSB SE & Co. (Germany), Danfoss (Denmark), and Hammelmann (India)|
|Key Market Opportunities||Adoption of carbon capture and storage (CCS)|
|Key Market Drivers||Rising investments in the oil and gas industry|
Frequently Asked Questions (FAQ) :
The market will reach USD 3.16 billion valuation by 2025.
The market gained a valuation of USD 2.51 in 2018.
The market recorded a CAGR of 3.35%.
The increase in the demand of these pumps among metal fabrication and automotive industries has led to the growth of the market.
Maximator GmbH (Germany), Cat Pumps (UK), and GEA Group (Germany) Andritz (Austria) are the key players of the market.