A chemical pump is mainly used as a displacement pump that injects a precise amount of chemical or other substance into gas, steam, or water. This type of pump is used for transferring corrosive and aggressive chemicals.
The global chemical pump market is projected to grow at a promising rate in the upcoming years. A low-cost and safe option and rise in demand for chemical pumps from varied application segments are estimated to safeguard the expansion of the market during the forecast period. Rapid industrialization and construction across the emerging economies throughout the world are some of the key factors encouraging the chemical pump market growth. In addition, new technologies are rapidly changing the face of various industries completely, and the chemical pump industry is no exception. The demand for chemical pumps is anticipated to grow in the regions of Africa, Europe, Middle East, and Asia-Pacific due to the growth of infrastructure and modernization.
Market Scope and Structure Analysis
Petrochemical and food processing industries largely use chemical pumps. These pumps are used in refineries and high-temperature heating systems. These pumps are used to store hot, cold, aggressive, volatile, toxic, and especially valuable liquids.
Increase in infrastructural development activities as well as exploration of new water sources worldwide, in the view of continued urbanization, has been parallel to the rapid adoption of pumps. The increase of construction sites throughout the world is another big market scope for the growth of the chemical pump market.
COVID-19 Impact Analysis
- COVID-19 pandemic has shut down a large number of construction sites, water controlling sites, power plants, technology advancement companies, and others. This has hampered the growth of the market in the last few months.
- COVID-19 has already affected the sales of chemical pumps. The first quarter of 2021 and is anticipated to harm the market growth throughout the year.
- The major demand for the chemical pump was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China. They are negatively affected by the spread of the pandemic, by declining the demand for chemical pumps.
- Further, the potential impact of the lockdown is currently vague and the financial recovery of companies is based on its cash reserves. Key players of the chemical pump market are expected to afford a full lockdown only for a few months, after which they have to modify their investment plans. For instance, various players in the market have halted their service activities for several weeks to reduce the expenses. Whereas few players have also adopted employee lay-offs to sustain during the COVID-19 health crisis.
- The chemical pump market is expected to focus on protecting its workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
One of the most important impacting factors for the chemical pump market growth is that some organizations draw attention to water scarcity, and wastewater treatment has become an integral part of the sustainable development goals. In addition, the market for chemical pumps is likely to upsurge in popularity globally owing to their ability to survive abrasion and corrosion in chemical transfer systems for products such as sodium hypochlorite and sulfuric acid. Further, chemical pump producers are focused on delivering systems with a variety of power sources which includes hydraulic or pneumatic systems and AC/DC. Moreover, rise in applications of chemical pumps in diverse industry verticals are expected to propel market growth during the study period. Moreover, developments in pump and displacement technologies are anticipated to create lucrative opportunities for the market players.
Lack of skilled labor in developing countries like India, Bangladesh, Pakistan, and others, due to lack of education about the making of chemical pumps hampers the market growth.
- Ebara Corporation formed ‘Ebara Bombas América do Sul Ltda (EBAS)’ by merging Ebara IndústriasMecânicas e ComércioLtda (EIMCO) with its wholly-owned Brazil-based pumps manufacturer, Thebe BombasHidráulicas Ltda.
- Xylem Inc. announced its acquisition of EmNet LLC, a smart solutions provider for municipalities to manage urban water cycle along with wastewater and stormwater systems.
- The key players such as KSB Se & Co. KGaA, Ebara Corporation, Xylem Inc., Sulzer Ltd., Kirloskar Brothers Ltd., The Weir Group PLC, Flowserve Corporation, Grundfos, RuhrpumpenGroupand WILO SE are arranging workshops for the workforce to educate them about the chemical pumps.
Key Benefits of the Report
- This study presents the analytical depiction of the chemical pump market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the chemical pump market share.
- The current market is quantitatively analyzed to highlight the chemical pump market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed chemical pump market analysis based on competitive intensity and how the competition will take shape in the coming years.
Chemical Pump Market Report Highlights
By Product Type
By Application Type
Key Market Players
Ebara Corporation, WILO SE., Kirloskar Brothers Ltd., Grundfos, KSB Se & Co. KGaA, The Weir Group PLC, Sulzer Ltd., Xylem Inc, Flowserve Corporation, Ruhrpumpen Group