In addition, the growing chemical industry will also supplement the metering pump market growth in the foreseeable future. The advantages of metering pumps such as high energy efficiency, excellent resistance to corrosive chemicals, long service life, and low maintenance costs have resulted in the widescale adoption of these devices in chemical manufacturing facilities. The expansion of the chemical sector in China, the U.S., and Europe is positively impacting the market growth.
Depending on type, the metering pump market is divided into diaphragm and piston. Of these, the diaphragm category witnessed the faster growth till 2019, and this trend is expected to continue throughout the forecast period. This can be attributed to the ability of diaphragms to handle flammable, corrosive, and abrasive liquids and pump highly viscous liquids. Moreover, the energy efficiency and low operational costs of diaphragm pumps also contribute to the growth of this category. On account of these factors, the category is also expected to hold the larger market share during the forecast period.
According to P&S Intelligence, Asia-Pacific (APAC) accounted for the largest share in the metering pump market during the historical period (2014–2019). In the regional market, India and China held the prominent share due to the burgeoning demand for freshwater, owing to the booming population and expanding manufacturing sector in these countries. Moreover, the region is also expected to witness the fastest growth during the forecast period, due to the establishment of new manufacturing units in the chemical processing, oil and gas, and pharmaceutical sectors.
Thus, the flourishing chemical industry, rising government regulations regarding water treatment, and burgeoning demand for metering pumps in the oil and gas industry will propel the market growth in the coming years.
Depending on type, the metering pump market is divided into diaphragm and piston. Of these, the diaphragm category witnessed the faster growth till 2019, and this trend is expected to continue throughout the forecast period. This can be attributed to the ability of diaphragms to handle flammable, corrosive, and abrasive liquids and pump highly viscous liquids. Moreover, the energy efficiency and low operational costs of diaphragm pumps also contribute to the growth of this category. On account of these factors, the category is also expected to hold the larger market share during the forecast period.
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Thus, the flourishing chemical industry, rising government regulations regarding water treatment, and burgeoning demand for metering pumps in the oil and gas industry will propel the market growth in the coming years.
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