Market Size of Global Reciprocating Pumps Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Reciprocating Pumps Market Analysis
The Global Reciprocating Pump market is expected to grow by registering a CAGR of 6.1% during the forecast period (2022 - 2027). The growth of most end-user industries of reciprocating pumps, including oil & gas, water treatment, and chemical processing, is driving the studied market's growth.
- A reciprocating pump at its core is a hydraulic machine that converts mechanical energy into hydraulic energy. These pumps use a piston moving back and forth in a cylinder. Additionally, these pumps have been in use for a long time, primarily for high-pressure and low-volume applications.
- In the wastewater treatment industry, reciprocating pumps are used where it is required to deal with a large quantity of sewage and sludges to be pumped against low heads. The increasing investment in wastewater treatment across various regions is expected to drive the demand for reciprocating pumps. For instance, according to Eurostat, wastewater treatment and waste management accounted for 23% and 28% of total expenditure in the general government and non-profit sector in 2021.
- Similarly, in November 2021, the United States Government announced USD 550 million in new spending, of which USD 55 million was allocated to fund the development of wastewater, drinking water, and stormwater infrastructure.
- However, factors such as non-uniform flow of liquid, high initial cost, and increased maintenance cost due to higher degree of wear and tear are challenging the growth of the studied market.
- The outbreak of the COVID-19 pandemic had a significant impact on the studied market owing to the destruction of activities across the major end-user industries. For instance, in the United States, several guidelines regarding the safety of the workers were issued by OSHA that restricted the use of manpower at any specific site at a single time. However, with the conditions returning towards normalcy, the market is expected to witness pre-pandemic level growth during the forecast period.
