LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global positive displacement pumps market to grow at a CAGR of around 5% during the period 2018-2022, according to their latest report.
This market research report segments the global positive displacement pumps market into the following products (rotary pumps and reciprocating pumps), by end-users (oil and gas, water and wastewater, and chemical and petrochemical), and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the developments in the water and wastewater industry as a key factor contributing to the growth of the global positive displacement pumps market:
Developments in the water and wastewater industry
The rapidly expanding global population is propelling the demand for clean water for drinking and other purposes. Clean water is required for domestic, commercial, and industrial uses and processes. The increasing demand for clean water is driving investments in the upgradation and new installation of water treatment facilities around the world. This, in turn, is expected to create new opportunities for the growth of the global positive displacement pumps market. The demand for clean water has continued to increase rapidly over the past several decades, particularly in developing countries, where the rapid pace of urbanization and economic growth is driving investments in new water treatment infrastructure.
The emerging economies such as China, India, Indonesia, Saudi Arabia, and other Asian and the Middle East countries are investing significantly in water treatment infrastructure to support the growth of the economy. The dwindling of freshwater resources because of land and water pollution is forcing most countries to adopt technologies for wastewater and effluent treatment.
According to a senior analyst at Technavio for tools and components research, “Considerable investments in the water and wastewater industry are expected in various developed countries such as the US and those in Europe, where the upgradation of aging water infrastructure is expected to generate demand for new positive displacement pumps.”
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Global positive displacement pumps market - geographical segmentation
APAC was the leading region for the global positive displacement pumps market in 2017, accounting for a market share of more than 43%. It was followed by EMEA and the Americas. The APAC region is expected to witness significant growth during the forecast period. On the contrary, the market share of EMEA will decrease to some extent during this period.
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