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NEW YORK , Jan. 19, 2022 /PRNewswire/ -- The Rotary Pump Market is set to grow by USD 2.35 billion between 2021 and 2026, accelerating at a CAGR of 5.99% as per the latest report by Technavio. The market is segmented by product (PC and multiple screw pump, gear pump, lobe and peristaltic pump, and vane pump) and geography (APAC, Europe , North America , South America , and MEA). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.
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Key takeaways from Rotary Pump Market study
Rotary Pump Market: Revenue Generating Segment The rotary pump market share growth by the PC and multiple screw pump segment will be significant for revenue generation. PC and multiple screw pumps are used in several end-user industries such as oil and gas, water and wastewater, power generation, and others, and the demand for such pumps is expected to grow during the forecast period.
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Rotary Pump Market: Growth Drivers and Restraints The key factor driving growth in the rotary pump market is the rising focus on improving energy efficiency in industries. The rising cost of energy and the environmental effects due to the emission of a high amount of carbon from fossil fuel-based energy sources have increased the focus of industries on adopting pumps. Various industries such as pulp and paper and chemicals are the major energy consumers, owing to the use of energy-intensive equipment such as pumps, blowers, and motors. Moreover, the new regulatory norms are now focusing on curbing the high energy costs and carbon emissions in industrial applications, thereby creating opportunities for pumps. Apart from low carbon emissions, pumps offer significant cost benefits to end-users. Such factors are expected to fuel the adoption of rotary pumps during the forecast period.
However, the volatility in raw material prices will be a major challenge for the rotary pump market during the forecast period. Increased taxes and duties, the implementation of additional tariffs, and production outages in metal ore-producing countries have negatively impacted the price of raw materials such as stainless steel. As the prices of raw materials keep changing from time to time, different versions of rotary pumps that are available in the market use different sorts of materials procured from multiple sources. Such situations result in difficulty for manufacturers to strategize on the pricing of these pumps. Purchasing bulk volumes of raw materials escalate inventory and production costs.
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Accelerate at a CAGR of 5.99%
APAC, Europe, North America, South America, and MEA
China, US, Russian Federation, Japan, and Germany
Leading companies, competitive strategies, consumer engagement scope
Atlas Copco AB, Baker Hughes Co., Bosch Rexroth AG, Busch Dienste GmbH, Celeros Flow Technology, Ebara Corp., Gardner Denver Inc., IDEX Corp., Pfeiffer Vacuum Technology AG, and ULVAC Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
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About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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