New Revenue Pockets:
The global diaphragm pumps market is projected to reach USD 7.6 billion by 2027 from an estimated USD 6.1 billion in 2022, at a CAGR of 4.5% during the forecast period. The global diaphragm pumps market is primarily being driven by the growth of the water and wastewater treatment industry, which is expected to experience further growth due to the stringent wastewater treatment regulations put in place by major global economies. Moreover, spurt in oil & gas activities as a result of the unprecedented rise in demand post the lockdowns and geopolitical factors is also expected to drive the market growth of diaphragm pumps.
Key Market Players:
The major players in the global diaphragm pumps market are PSG (US), Ingersoll Rand Inc. (US), IDEX Corporation (US), Xylem, Inc. (US), Flowserve Corporation (US), Grundfos Holding A/S (Denmark), Kimray Inc. (US), LEWA GmbH (Germany), Tapflo AB (Denmark) and others.
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The diaphragm pumps market has promising growth potential due to the opportunities from exploring and considering wastewater as a resource. Water already is one of our most precious resources, and with frequent droughts and shortages, it is becoming more and more precious. Under its Sustainable Development Goal 6, the United Nations aims to ensure water and sanitation for all by 2030. This may lead to colossal investments in the water & wastewater treatment sector, thereby driving the demand for diaphragm pumps. Furthermore, energy efficiency is at the forefront as economies around the world are working toward achieving sustainability, efficiency, and net-zero carbon emissions. As a result, demand for energy-efficient diaphragm pumps, catalyzed by new government mandates and regulations, will result in the development of advanced pumps with smart electronic features, in line with Industry 4.0, which will also enable better system integration. Also, the integration of remote monitoring, predictive analytics, asset performance management, IIoT, and automation are helping improve the performance of diaphragm pumps by reducing their downtime and increasing efficiency.
The electrically operated segment, by mechanism, is expected to be the fastest-growing segment of the diaphragm pumps market. Unlike air operated diaphragm pumps, electrical diaphragm pumps utilize an electric drive instead of compressed air. These pumps are powered by a highly efficient electric motor, which provides electrical energy at a lower cost, and ensures cleaner maintenance with no fluid leakage. The use of an air compressor to drive a diaphragm pumps leads to additional procurement and operational costs for the operator. The overall operational cost of an electrically operated diaphragm pump, as a result, is less compared to an air operated diaphragm pump. Besides, governments around the world have introduced regulations aimed towards achieving energy efficiency and sustainability. This is expected to positively impact the growth of the electrically operated segment of the diaphragm pumps market.
The up to 80 Bar segment is projected to be the fastest-growing segment of the diaphragm pumps market, by discharge pressure, during the forecast period. The up to 80 Bar diaphragm pumps cater to the widest spectrum of industries. For instance, the pharmaceuticals industry is amongst the primary consumers of these pumps, wherein they are used for contamination free metering and conveying of various fluids. The pharmaceuticals industry is expected to grow leading to a rapid growth in the demand for up to 80 Bar diaphragm pumps. Also, these pumps find application in the food & beverage, chemicals, and water & wastewater treatment sectors which are expected to show a promising growth in the near future, which may further drive the fast growth of the up to 80 Bar segment of the diaphragm pumps market.
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Asia Pacific is estimated to be the largest and the fastest growing market for diaphragm pumps during the forecast period. The region has emerged as a global hub for manufacturing and industrial activities. Countries in Asia Pacific offer lucrative opportunities for the development of the water and wastewater treatment industry due to the relatively underdeveloped water infrastructure in this region. Also, governments in many countries across the region like India, China, and Malaysia have introduced regulations to make it mandatory for industries to treat their wastewater before releasing it downstream to the environment. Several water-related diseases, including cholera and schistosomiasis, remain widespread across many countries in the region and hence, new projects related to water and wastewater treatment are expected to drive the demand for diaphragm pumps in the regional market. The oil & gas, as well as the chemicals & petrochemicals industries, are also experiencing rapid expansion in Asia Pacific. The rising crude oil refining capacity, aimed at addressing the growing demand for consumer goods and fuels, can be a significant driver of petrochemical projects in the region. Apart from this, with newer variants of the coronavirus diseases being discovered, Asia Pacific is expected to play a key role in the manufacturing of crucial and life-saving drugs and medicines. The growth of the pharma industry, thus, will also boost the diaphragm pumps market in this region. Hence, the region is witnessing an overall spike in investments in the industrials sector, consequently leading to a rise in demand for diaphragm pumps.
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