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High-Pressure Pumps Market is Expected to Reach $3.4 Billion by 2030

 

Report Code : A01829

quote The global high-pressure pumps market is expected to head toward expansion in the coming years, owing to surge in use of these pumps in manufacturing industries such as steel and automotive. In addition, growth in construction and manufacturing industries, especially in Southeast Asian countries, along with increase in power generation capacity in India is expected to drive demand for high-pressure pumps during the forecast period. Furthermore, owing to high investments in the oil & gas industry, majorly in E&P activities across the globe is anticipated to surge demand for high-pressure pumps in coming years. quote

Eswara Prasad
Manager, Energy & Power

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According to a new report published by Allied Market Research, titled, “Global High-Pressure Pumps Market: Opportunity Analysis and Industry Forecast, 2021–2030,” The global high-pressure pumps market was valued at $2.5 billion in 2020, and is projected to reach $3.4 billion by 2030, growing at a CAGR of 3.1% from 2021 to 2030.

High-pressure pump is broadly defined as any pump that can generate high discharge pressure, generally in excess of 800 psi. These pumps are extensively used across oil & gas, power generation, chemical, pharmaceuticals, and manufacturing industries.

Demand for high-pressure pumps has witnessed tremendous growth driven by increase in manufacturing and infrastructural activities in Southeast Asia; growing investments in sectors other than oil & gas in the Middle East & North Africa (MENA); and growing green chemical industry in the U.S. All industry players are investing heavily to find new commercial avenues for their product segments via contracts & agreements with other companies, business expansion, new product development, and mergers & acquisitions. However, slowdown in the oil & gas industry is expected to hamper growth of the high-pressure pumps market during the forecast period. Furthermore, wide-scale adoption of carbon capture and storage (CCS) services is expected to provide growth opportunities for the market during the forecast period.

By type, the global high-pressure pumps market size is studied across dynamic and positive displacement. The dynamic segment accounted for the largest market share in 2020, owing to their increased applications in various industries as they generate different flow rates and cost-effective adoption. The dynamic segment dominated the global market with more than half of the total market share in 2020.

By pressure, the global high-pressure pumps market is studied across 30 Bar–100 Bar, 101 Bar to 500 Bar, and above 500 Bar. The 30 Bar–100 Bar segment accounted for the largest market share in 2020 as manufacturing industries are using a series of these pumps to generate high-pressure, owing to their low-space requirement, low cost, and easy installation and maintenance. The 30 Bar–100 Bar segment dominated the global market with more than half of the total market share in 2020.

By end-use industry, the global high-pressure pumps market is studied across oil & gas, power generation, manufacturing industries, chemical & pharmaceuticals, and others. The oil & gas segment emerged as a leader in 2020, owing to adoption of several types of high-pressure pumps such as electric submersible pumps, helico-axial pumps, deep well pumps, progressive cavity pumps, and twin-screw pumps in exploration, production, and transportation activities. The oil & gas segment dominated the global high-pressure pumps market with more than one-third of the total market share in 2020.

Region-wise, the global high-pressure pumps market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest market share in 2020, as manufacturing industries are using a series of these pumps to generate high-pressure, owing to their low-space requirement, low cost, and easy installation and maintenance. Asia-Pacific accounted for a major high-pressure pumps market share in 2020, and dominated the global market with two-fifths of the total market share in 2020.

The major key players operating in the global high-pressure pumps industry include Cat Pumps, Maximator GmbH, Andritz, GEA Group, Grundfos, Sulzer Ltd., The Weir Group PLC, KSB SE & Co., Danfoss, and Hammelmann. Other players operating in this market include Teledyne Isco, Zhejiang Danau Industries Co., Ltd., and Udor S.P.A.

COVID-19 analysis:

  • According to the International Monetary Fund (IMF), owing to the outbreak of novel coronavirus (COVID-19), the global economy shrunk by 3.0% in 2020. Many countries are under strict lockdowns, which have forced several sectors to shut down their operations. This has halted manufacturing activities and reduced demand and production of high-pressure pumps.
  • According to the United Nations Industrial Development Organization (UNIDO), the Micro, Small & Medium Enterprises (MSME) sector across developing economies, such as India, has been worst affected due to the COVID-19 outbreak and the lockdown imposed thereafter. This is expected to decline the demand for high-pressure pumps from various end-use industries such as building & construction, automotive, and paints & coatings. In addition, in the second half of 2020, some countries started to lift restrictions and gradually start business operations in various sectors. Even with the gradual lifting of the lockdown, it is expected to be challenging for the manufacturing sector to get back to normal working conditions. This is expected to subsequently affect the high-pressure pumps market growth in the coming years.
  • According to the UNIDO, 30.0%–70.0% of pre-COVID-19 workforce of various manufacturing industries, such as steel and chemical have migrated back to their hometowns due to uncertainties and loss of income during the lockdown. This non-availability or less availability of workforce is expected to directly affect production activities of these industries, thereby resulting in decline in demand for high-pressure pumps. This is expected to decline growth of the market during the forecast period.

Key findings of the study

  • In 2020, Asia-Pacific dominated the global high-pressure pumps market with around 40.0% share, in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 3.5% in terms of value.
  • The dynamic high-pressure pumps segment dominated the global high-pressure pumps market with around 55.0% of the share in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 3.6% in terms of value.
  • The 30 Bar–100 Bar segment dominated the global high-pressure pumps market with around 55.0% of the share in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 3.3%, in terms of value.
  • The oil & gas segment dominated the global high-pressure pumps market with 34.0% of the share in terms of revenue.
  • The manufacturing industries segment is projected to grow at the highest CAGR of 3.8% in terms of revenue.

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quote High-Pressure Pumps Market by Type (Dynamic and Positive Displacement), Pressure (30 Bar to 100 Bar, 101 Bar to 500 Bar, and Above 500 Bar) and End-Use Industry (Oil & Gas, Power Generation, Manufacturing Industries, Chemical & Pharmaceuticals, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030 quote

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