Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report, titled “(PD) Sanitary Pumps Market (Rotary PD Sanitary Pumps Type - Rotary Lobe, Twin Screw, Progressive Cavity, Eccentric Disc, Gear, Sinusoidal, Hose; Reciprocating PD Sanitary Pumps Type - Piston/Plunger, Diaphragm; End-us- Food & Beverage, Pharmaceutical, Cosmetics, Biotechnology, Water Treatment Systems, Textile) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.” According to the report published by Transparency Market Research (TMR), the global Sanitary Pumps market is expected to rise at a CAGR of 10.0% from 2016 to 2024, reaching a value of US$10.65 bn by 2024 from US$4.55 bn in 2015.
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Robust Growth of Manufacturing and Construction Sectors to Propel Growth of Asia Pacific
Asia Pacific was the leading regional segment in 2015 in terms of revenue. The flourishing growth of the manufacturing and construction sectors and the rising awareness regarding the necessity of adhering to sanitation practices among both industries and consumers are contributing to the growth of this region. Owing to these factors, the region is anticipated to retain its dominance until 2024, rising at a CAGR of 10.8% during the forecast period. The Middle East and Africa market is poised to experience a significant growth during the same period. The growth of this region can be attributed to the continuously growing population leading to a sizeable rise in desalination plants. Moreover, the increasing number of producers, suppliers, and retailers in the food and beverages sector in this region is leading to the rising demand for PD sanitary pumps.
On the basis of rotatory PD sanitary pumps type, gear pumps was the leading segment in 2015, accounting for nearly 32.0% of the overall market revenues. The inherent flexibility and versatility of gear pumps along with their economic nature is leading to their substantial demand across key end-use industries.
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Rising Awareness Regarding Sanitation Etiquettes to Promote Deployment of PD Sanitary Pumps
The increasing demand for processed foods across developed as well as emerging economies and the rising consumer awareness regarding the adherence of sanitation practices are driving the demand for PD sanitary pumps in the food and beverage industry. With the increasing stringency in regulations, companies are being compelled to adhere to better sanitation standards, thereby leading to increasing deployment of these pumps.
Moreover, the growth of the market is estimated to be fueled by rapid modernization across the manufacturing and industrial sectors, particularly in emerging countries such as Brazil, India, and China. The increasing implementation of advanced pump systems that provide real-time feedback of system performance of machineries is expected to boost the demand for PD sanitary pumps across these sectors.
Overhead Costs Incurred Due to Provision of Value-added Services to Negatively Impact Overall Revenue Generation
The highly consolidated nature of the global market for PD sanitary pumps, which is heading towards maturity, has hampered the growth of small- and medium-sized companies. As a result, it becomes mandatory for large players to offer value-added services alongside the products in order to command a large share in the market. The overhead costs incurred due to these services are estimated to adversely affect the overall profitability of the market in the forthcoming years.
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With the increasing focus of leading players on extending their product and technological portfolio, the global market for PD sanitary pumps is transforming into an innovative marketplace with high competitive rivalry. Mergers and acquisitions is one of the commonly adopted strategies by key companies to stay relevant in the market. Some of the leading manufacturers are Alfa Laval AB, Fristam Pumps, IDEX Corporation, and SPX Corporation.
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