The global diaphragm pumps market size is anticipated to reach USD 7.32 billion by 2025, according to a new report conducted by Grand View Research, Inc. The market is estimated to witness a CAGR of 5.5% during the forecast period. High demand for fresh water due to growing population and industrialization across the globe is projected to boost the market development over the coming years. Rapid infrastructural development and urbanization along with technological developments are the major reasons behind augmenting the demand for energy fuels resulting in a rise in oil & gas and power sector. This factor is also expected to boost the demand for diaphragm pumps in the years to come.
On the basis of operations, the market is segmented into single acting and double acting diaphragm pumps. In terms of revenue, the double acting diaphragm pump segment was valued at USD 3.82 billion in 2017 and is projected to hold the largest market share over the forecast period. Chemical & petrochemical end use segment witnessed a steady growth in 2017 and is expected to reach USD 1.20 billion over the forecast period. Chemical industry faces greater challenges as fluids, which are to be transferred, have numerous properties and diaphragm pumps have a capability to handle all types of fluids like flammable, volatile, abrasive, and viscous. Thus, the product is anticipated to witness high demand in the chemical & petrochemical industry.
In terms of mechanism, air operated diaphragm pump segment market was valued at USD 3.14 billion in 2017 and is expected to witness robust growth over the period of forecast. Growing adoption of these pumps across diverse applications including chemical, oil & gas, and mining is likely to supplement the segment expansion by 2025. China had the major chunk of the global market share in 2017. The region is expected to witness rapid growth over the next few years on account of its highest population and resultant demand for energy fuel and fresh water estimated.
Further Key findings from the study suggest:
- U.S. region is projected to expand at a strong CAGR over the forecast period. The Department of Energy introduced new energy conservation standards for manufacturers
- Thus, production of highly-efficient pumps is projected to augment the region’s growth in coming years
- U.K. region is projected to have a strong growth over the forecast period Implementation of stringent governmental policies and demand in wastewater treatment are driving the regional market
- Electrically operated pump segment is projected to witness lucrative growth in the forecast period
- High adoption, coupled with low operational costs of electrically operated pumps is projected to drive the market over the forecast period