Market Trends of Metering Pumps Industry
This section covers the major market trends shaping the Metering Pumps Market according to our research experts:
Water Treatment Segment is Expected to Drive the Market's Growth
- The entire process in a wastewater plant needs a dosing/metering pump for various functions like coagulation, flocculation, disinfection, etc. One of the main reasons for using metering pumps for these processes is their flexibility in allowing easy setting of the required rate at which the liquids are injected or discharged.
- Metering pumps are often used in water treatment to feed chemical additives into the water to enhance water quality. The additives applied range from scale inhibitors to redox agents to non-oxidizing biocides. Chemical dosing systems for water treatment plants can handle various fluids, chemicals, and viscous and corrosive materials.
- In March 2021, at a high-level meeting on the 'Implementation of the Water-related Goals and Targets of the 2030 Agenda', UN Member States noted that achieving SDG (Sustainable Development Goals) 6 by 2030 would require mobilizing an additional USD 1.7 trillion investment in water-related infrastructure. To make this happen, Member States are calling for new partnerships between governments and a diverse group of stakeholders, including the private sector and philanthropic organizations, and the wide dissemination of innovative technology and methods.
- Further, in April 2022, the Ministry of Ecology and Environment announced that China would improve sewage treatment in its vast rural areas, with the aim of the rural life sewage treatment rate reaching 40% in 2025 from 28% in 2020. Therefore, government organizations, market entities, and villagers would be encouraged to join hands to achieve the goal. The move was a part of China's efforts to push forward rural vitalization. Such initiatives at a global and regional level would offer lucrative opportunities for the growth of the studied market.
- The main reasons behind high pollution levels in several rivers are the untapped wastewater from unauthorized colonies and poor quality of treated wastewater discharged from wastewater treatment plants (WWTPs). Various nations are launching numerous initiatives to tackle this problem. For instance, in March 2022, a review meeting of the National Mission for Clean Ganga (NMCG) along with the Delhi Jal Board, chaired by Chief Minister Arvind Kejriwal, Chief Minister of Delhi, reported the details of a new water treatment plant to rejuvenate the river Yamuna, with a capacity pump out 564 million liters of treated water daily.
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Asia Pacific Region is Expected to hold a Significant Market Share
- According to US Energy Information and Admiration, Crude Oil Production in India increased to 605.10 BBL/D/1K(1000 Barrels per day) in February from 604.20 BBL/D/1K in January of 2022. Furthermore, Crude Oil Production in Indonesia increased to 670 BBL/D/1K in February from 616 BBL/D/1K in January of 2022. Such oil industry growth in different regions may drive the studied market.
- The collaboration between firms to increase their oil production and expand their presence in the APAC region may create an opportunity for the local players to enhance their product portfolio and meet the customers' needs.
- According to the National Bureau of Statistics of China, in 2021, a total of 55.44 million tons of nitrogen, phosphate, and potash fertilizer will be produced in China. Furthermore, according to India Brand Equity Foundation, by 2025, it is anticipated that investments in the Indian chemicals and petrochemicals sector will total INR 8 lakh crore (USD 107.38 billion). In December 2021, chemical output totaled 903,002 MT, while petrochemical production totaled 1,877,907 MT. Such huge investments in the chemical industry will enhance the metering pump market growth.
- In April 2022, The Memorandum of Cooperation (MoC) between India and Japan in Decentralized Domestic Wastewater Management received the ex-post facto approval of the Union Cabinet, which is presided over by the Prime Minister of India. Japan's Ministry of the Environment will advance the MoC, the Ministry of Jal Shakti, and the Department of Water Resources, River Development, and Ganga Rejuvenation (DoWR, RD&GR). The executive departments will establish a Management Council (MC) to design specific collaborative activities and oversee their implementation. India hopes to create a "Decentralized Domestic Wastewater Management" through this partnership with Japan and use Johkasou technology to guarantee the efficient reuse of treated wastewater. Such Government initiatives will significantly drive the market.
- The industrial sector has experienced rapid expansion in developing regions and stable growth in developed/mature markets over the past ten years. Participants in the industry are striving to meet the increasing demand for metering pumps in developing economies. Factors like rapid industrialization, rising living standards, sizable population, and cheap labor contribute to the increasing focus on the APAC region. The need for metering pumps is anticipated to increase as new manufacturing facilities are expected to be built throughout the forecast period.
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