Market Size of Diaphragm Pump Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Diaphragm Pump Market Analysis
The diaphragm pump market is expected to register a CAGR of more than 6.1% during the forecast period of 2022-2027. The COVID-19 pandemic has negatively impacted the growth of the diaphragm pump market, since the industrial sector has faced a significant decline in demand during the pandemic with consequent lockdowns. During 2020 and 2021, smaller players and organizations with relatively weak financial positions got shut down, which resulted in reducing the total industrial manufacturing capacity and consolidating the consumer sectors. 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 along with exploration, and production activities are expected to make a shift towards 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 diaphragm 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 of 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 years.
- Asia-Pacific dominated the market across the world in 2021, 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.
