MEA Positive Displacement Pumps Market Size

MEA Positive Displacement Pumps Market Analysis

The Middle East and Africa Positive Displacement Pumps Market are expected to register at a CAGR of 3.48% during the forecast period of 2022-2027. The positive displacement pumps have gained major traction from the pharmaceutical industry due to various industry needs. Still, the supply chain disruption has caused a huge loss in the semiconductors market, which has brought the positive displacement pump market to a static stage. Further, the oil, gas, and power sector has also taken a hit and hasn't shown any sign of post-pandemic improvement. Thus, the market is yet to recover and is expected to return to pre-pandemic growth figures once travel restrictions and supply chain disruption are normalized.

• The Gulf region has adopted solar power to meet some of its energy requirements. The UAE plans to increase its power-generation capacity by around 21 GW, and its solar capacity is anticipated to comprise 26.1% of the total additional generation capacity.
• The UAE's Renewable Energy Project Development Office planned to issue tenders for 11 PV power projects, with a combined capacity of 2,225 MW, in 2020. Additionally, its solar target for 2023 has increased from 5.9 GW to 20 GW, and it is set at 40 GW for 2030.
• Further, government-imposed environmental regulations have resulted in the mandatory installation of a Positive Displacement pump in the industrial sector in the inhouse wastewater treatment plants. Future international events such as the FIFA World Cup, to be hosted by Qatar in 2022, and the World Expo, to be organized in Dubai in 2020, are likely to attract greater expenditure on infrastructure developments in the Middle East & African countries, which would trigger the adoption of Positive Displacement pump in the construction sector.
• Also, the region is witnessing the discovery of new oil and gas wells continuously while old and underutilized ones are being rejuvenated. For instance, the government-owned Abu Dhabi National Oil Co. announced a rig fleet expansion program that is anticiapted to add dozens of rigs by 2025.
• Moreover, the United Arab Emirates has also announced its plans to invest USD 163 billion in projects to generate almost half of the country's power needs from renewable sources. Such projects lead to the demand for Positive Displacement pumps over the forecast period.
• Further, the growing demand for freshwater in African countries such as South Africa and Nigeria would boost the performance of the positive displacement pump industry in the coming years. Countries such as Saudi Arabia and the UAE are rapidly growing in terms of infrastructure and economy. These countries are also characterized by huge oil resources and water management systems, which generate huge demands for positive displacement pumps. Thus, the positive displacement pump market players are investing in improving their offerings to make them cheaper and more reliable.