Market Size of Latin America Positive Displacement Pumps Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| 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?
Latin America Positive Displacement Pumps Market Analysis
The Latin America positive displacement pump market is expected to grow at a CAGR of 5.2% during the forecast period of the year 2022 to 2027. With the uncertainties of COVID-19 in consideration, the pandemic's direct and indirect impacts on many end-use industries are being tracked and evaluated on a regular basis. These findings are cited in the study as a significant market contributor. The increased need for wastewater treatment from the refining, chemical, and pharmaceutical industries is driving market expansion.
- Latin America has an abundance of natural resources. As a result, the extractive industry is critical to the economies of the countries. Although the oil and gas industry is the major end-user, sales are also driven by other industries including as power generation, water and wastewater, construction, chemical processes, food and beverage, pharmaceuticals, and metals and mining.
- The COVID-19 pandemic has had a significant effect on the production of oil, gas, and electricity in Latin America. Positive displacement pumps are in less demand throughout the region as a result of supply chain interruptions and delays in project construction activity. Also, It was expected that positive displacement pump market pump sales will likely resume after the end of COVID-19 pandemic. Further rising industrialization, increased construction projects, and increased mining activity in the region are the primary drivers boosting demand for positive displacement pumps in Latin America.
- The rising need to treat wastewater created by the industrial sector, along with declining groundwater levels, will drive market demand for positive displacement pumps in the future. Positive displacement pumps have high viscosity, solids handling capability, efficiency, and accurate repeatable measurement, all of which contribute to market growth.
- Additionally, The rapid development of civic water utility infrastructure in emerging regions such as Latin America has led to increased demand for positive displacement pumps. The demand for sewage treatment has increased massively in both public and industrial sectors with increased number of pumping units installed base. Technologies such as desalination and ZLD (zero-liquid discharge) is expected to boost the market for positive displacement pumps market in civic and industrial sectors.
