“The high pressure pumps market is projected to grow at a CAGR of 3.2% from 2016 to 2021”
The high pressure pumps market is projected to reach USD 2.765 billion by 2021, at a CAGR of 3.2% from 2016 to 2021. High pressure pumps are used in the oil & gas, power generation, chemical & pharmaceuticals, and manufacturing industries. Investments in sectors other than oil & gas in the Middle East and North Africa (MENA) and the growth of the manufacturing sector in South Asian countries, coupled with the revival of the manufacturing industry in North America, are expected to drive the high pressure pumps market. The slowdown in the oil & gas industry will likely hinder market growth, as oil & gas is a potential end-user market for high pressure pumps.
“The dynamic segment is expected to grow at the highest CAGR from 2016 to 2021”
With regard to the type segment, dynamic high pressure pumps are expected to constitute the largest as well as the fastest growing market from 2016 to 2021. These pumps are used in the oil & gas sector for cleaning heat exchanger, rust and paint removal from metal structures, and tube dechoking. In the water & wastewater treatment sector, it is used for processing drinking water, reverse osmosis process, and machine tool lubrication. Positive displacement high pressure pumps are typically used in the power generation, manufacturing, food & beverage, shipbuilding, and manufacturing industries.
“Asia-Pacific: The largest market for high-pressure pumps”
Asia-Pacific is currently the largest market for high pressure pumps, closely followed by North America. The Asian market is primarily driven by countries such as China, India, and Japan, where there are high demands for high pressure pumps. The market in this region is projected to grow at a high rate, with China expected to dominate the market. Despite the headwinds in the Chinese economy, increasing domestic demand for various manufacturing facilities is expected to raise the growth rates slightly in 2017; this will likely boost the demand for high pressure pumps.