The global positive displacement sanitary pumps market has been experiencing a growing level of consolidation, with key players such as Fristam Pumps, IDEX Corporation, and Alfa Laval AB are projected to rise to more prominence when compared to the local vendors in the coming years. Smaller takeover of the niche players by the companies, permitting the latter to easily expand their business horizons across attractive regional markets and also extend their technological and product portfolio is thought to the highly preferred development strategy.
The global market for positive displacement sanitary pumps was valued at US$4.55 bn in the year 2015. The market is expected to grow and reach an overall valuation of US$10.65 bn by the end of 2024. This growth of the market is expected to be achieved with the help of an impressive CAGR of 10.1% over the course of the given forecast period of 2016 to 2024.
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With respect to the varieties of positive displacement sanitary pumps that are available in the global market, the gear pump segment led the market with holding over 32% of share in the revenues of rotary positive displacement sanitary pump market in 2015. Asia Pacific market is expected to continue its dominance across the globe with the region accounting for almost 39% of the overall share in the market in 2015.
Increasing Awareness among Consumers Augmenting Growth of Market
There are several factors that are augmenting the overall development of the global market for positive displacement sanitary pumps. One of the key driving factor for the growth of the global market is thought to be the increasing awareness among customers about the serious consequences that may occur due to failure of addressing safety practices and sanitation at the critical stages of food handling.
This has also led to rising emphasis on the enforcement of strict regulations about sanitary practices in the food and beverages sector. The key players operating in the pharmaceutical sector also take of these strict sanitary regulations across a number of procedures. In the last few years, the framework of regulations that governs the sanitary practices across the industry has become more expansive and strict so as to address the issues related to safety and sanitation across different areas such as supply chain and fluid handling.
These factors are expected to drive the overall development of the global market for positive displacement sanitary pumps and are also projected to have a considerable impact on the overall future developments in the market.
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The overall demand for positive displacement sanitary pumps is also projected to be augmented by the growing trend of urbanization across the manufacturing and industrial sectors, especially across emerging economies such as China, India, and Brazil. In addition to this, the increasing uptake of intelligent or smart pump systems in the industrial sector, mainly owing to the increasing demand for providing real-time feedback on tracking the location of bug in system or overall performance of the system is also projected to drive the overall demand for the global market for positive displacement sanitary pumps.