The Metering Pumps by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Metering Pumps, The metering pumps market size has grown strongly in recent years. It will grow from $6.02 billion in 2023 to $6.38 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to industrial advancements, focus on efficiency, rise in chemical processing industries, demand for precise fluid control, automation and control systems..
The metering pumps market size is expected to see strong growth in the next few years. It will grow to $8 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to industry digitization, rise in chemical industry, focus on pharmaceutical manufacturing, adoption of iot and remote monitoring, shift towards sustainable solutions.. Major trends in the forecast period include modularity and customization, increased connectivity and integration, focus on efficiency and precision, shift towards eco-friendly solutions, development of compact and portable models..
The rising demand for sustainable water supply across various industries is expected to propel the growth metering pumps market in the forecast period. Sustainable water supply entails identifying dependable and resilient responses to diverse human water demands that do not deplete water resources or the local economy and have no long-term detrimental influence on the environment. Water-saving methods implemented through smart water metering will allow to save money while diverting less water from rivers, bays, and estuaries, promoting environmental health. For instance, In February 2022, BASF, a Germany-based chemical producer, stated that in their total of 1695 million cubic meter water abstraction, 78.5% of water demand was covered as reused water. Hence, the increasing focus towards wastewater treatment will drive the demand for metering pumps.
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The metering pumps market covered in this report is segmented –
1) By Type: Diaphragm, Piston/Plunger, Other Types
2) By Sales: Direct, Distribution Channel
3) By End-Use Industry: Water Treatment, Petrochemicals And Oil and Gas, Automotive, Chemical Processing, Pharmaceuticals, Food And Beverage, Pulp And Paper, Textile, Other End-Use Industries
Technological advancement is a key trend gaining popularity in the metering pumps market. Companies in the market are focusing on leveraging connected technologies and data analysis to develop better and energy-efficient metering pumps. For instance, in May 2022, SEKO, a US-based chemical dosing pump manufacturer, announced the release of KommBox, a device that physically connects to compatible SEKO metering pumps to enable them to connect to the internet and give operators the power to remotely monitor and control their process. KommBox allows users to get a comprehensive view of their expenses, make programming modifications, monitor system performance and chemical usage in real-time, and analyze past data.
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