The diaphragm pump market is expected to witness a significant growth of CAGR greater than 5%, majorly due to the increasing demand from end-user industries, such as oil and gas, water and wastewater, chemicals and petrochemicals, and food and beverage. 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, exploration and production activities are expected to make a shift toward 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 pump market during the forecast period.
- 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 to 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 future.
- Asia-Pacific dominated the market across the world in 2018, 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
Waste 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.
- Moreover, on an average, high-income countries treat about 70% of the industrial and municipal wastewater they generate. That ratio drops to 38% in upper-middle-income countries and about 28% in lower-middle-income countries. With increasing awareness about environment and growing water shortage, the demand for water treatment plants, and, in turn, pumps in water treatment plants, is expected to increase in the developing countries.
- Furthermore, the modular design of wastewater treatment plant has also reduced the initial heavy investment challenge and allows an economical solution. These plants can readily be expanded as the wastewater flow, and, in turn, capacity requirement of treatment plant increases. Due to this new trend in the water treatment industry, relatively smaller industries have started installing water treatment plants.
- Therefore, the growing concerns regarding the environmental impact of wastewater and water scarcity, stricter government regulation, and declining cost of water treatment plants are expected to drive the water treatment industry, and, in turn, the demand for diaphragm pump 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 is witnessing growth with policy level focus for driving the industrial sector.
- Most of the countries in the Asia-Pacific region are in a growing phase and the high rate of population growth has led to the increased requirement for water supply. The water demand in China and India grew significantly in recent years and is expected to do the same during the forecast period, leading to an increase in the water and wastewater management sector. This 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 22,495.43 TMT in March 2019, with an increase of 6.51% from March 2018. 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.
- 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, which, in turn, is expected to drive the demand for diaphragm pumps during the forecast period.
The diaphragm pump market is fragmented due to many companies operating in the industry. The key players in this market include Flowserve Corporation, Grundfos AS, Dover Corporation, Ingersoll-Rand PLC, Idex Corporation, Graco Inc., Tapflo Group, and Verder Group.
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