POSITIVE DISPLACEMENT PUMPS MARKET ANALYSIS

Regional Analysis

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North America has established itself as the dominant region in the global positive displacement pumps market. The region is expected to hold 36.1% of the market share in 2024. The oil & gas industry has a commanding presence in the region, especially in the U.S. With extensive onshore and offshore activities, pumping solutions are extensively used for exploration, extraction and transportation of oil and natural gas. Leading pump manufacturers have set up production bases as well as research and development centers in the region to cater to the demand from regional oil companies.

Stringent regulations regarding safety and efficiency of pumps used in the industry have further encouraged manufacturers to innovate. Thanks to rapid technological adoption, pumps produced in North America often have advanced features. This prompts significant pump exports to other mature markets. However, trade uncertainties and policies impact export volumes. Localized manufacturing helps counter import restrictions to some extent.

The flourishing chemical industry augments regional pump requirement further. Process pumps capable of handling corrosive fluids are widely needed. Robust manufacturing infrastructure and presence of major end-use industries will continue propelling the North American positive displacement pumps market.

Asia Pacific has emerged as the fastest growing region. Rapid industrialization and infrastructure development across developing nations propel pump installation. The region is now a manufacturing powerhouse for several industries including automotive, chemicals and oil & gas. Growing plant capacities and new production facilities amplify pumping needs.

Strong economic growth also boosts process industry investments. This increases requirement for slurry, liquid natural gas and other specialized pumps. Water treatment initiatives in urbanizing markets open up opportunities as well. However, the pandemic impacted several developing Asian economies like China, Japan, etc., curbing pump demand recovery.

Ongoing projects like expansion of refining capacities and construction of new petrochemical complexes bode well over the long run. This will sustain the momentum of the Asia Pacific positive displacement pumps market. Additionally, free trade policies assist manufacturers to procure components at competitive costs, giving their products an edge in export markets.