According to Fact.MR’s analysis, the oil and gas industry will also remain among the key focus areas of vendors operating in the chemical injection pumps market. Chemical injection pumps remain a coveted solution for the oil and gas industry operators, as a number of pipeline operators are already utilizing chemical injection methodologies for the injection of corrosion inhibitors into pipelines or well sites.
According a new research publication by Fact.MR, nearly 1500 thousand units of chemical injection pumps were sold in 2018, and the sales are expected to record over 4% Y-o-Y growth in 2019. In addition to soaring applicability in the oil and gas industry, and water treatment projects, the sales of chemical injection pumps will continue to receive a strong impetus from the growing trend of high-efficiency solar-powered pumps.
As the consistently deteriorating quality of available water and rapidly declining number of natural freshwater reserves continue to exert an additional pressure on governing bodies to meet the cumulative demand for water supply, the water treatment landscape is likely to witness emergence of multiple key developments in the near future. A number of water treatment initiatives are underway, particularly across developing countries, bolstering the demand for associated equipment, such as chemical injection pumps.
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Pneumatic and hydraulic pumps collectively account for around 50% of total sales of chemical injection pumps. Whereas, electrically powered pumps alone account for over a third of overall sales, as indicated by the study. The high selling potential of electric chemical injection pumps is attributed to their higher adoption across the oil and gas industry in a bid to achieve significantly reduced methane emissions. Tightening regulatory framework for emission control and the thriving global energy efficiency drive are necessitating the mass shift of manufacturers to sustainable solutions. Fact.MR thus projects the emergence of a lucrative market for solar-powered chemical injection pumps in the forthcoming years. Rising popularity of the intelligent metering pump technology for quantitative regulation of injection chemicals, also marks an important trend in the chemical injection pumps market.
According to the study, the chemical injection pumps market in East Asia is likely to account for over 30% share in the global market volume estimated for 2019. While South Asia is also projected to be among the key regional markets in terms of chemical injection pumps sales, both the regions will remain prime opportunity hubs for stakeholders in the market. Constantly rising petrochemicals demand and increasing concerns regarding deleterious effects of poor water quality have been pushing investments in the oil and gas industry and water treatment sectors, respectively, across East and South Asian countries. While this, according to the report, accounts for a positive outlook for the demand growth of chemical injection pumps within these regional markets, the report also points to the increasing role of governing bodies in establishing a strong base for adoption of specialty application equipment, such as chemical injection pumps.
The competition landscape of global chemical injection pumps market is characterized by a growing focus of competitors on the increasing need for efficiency and accuracy of chemical processes, along with an enduring product lifecycle. Banking on improving industrial and infrastructural investments by regional governments, key companies operating in the chemical injection pumps market are considering new product innovations as a key strategy. While solar- and electric-powered pumps are rapidly garnering R&D interests of a majority of players, compact design engineering will also be an important strategy assisting their headway to mitigate the carbon footprint. The report indicates that the first movers in competitive landscape continue collaborations with established brands, targeting enhanced capacity of chemical injection pumps. Long-term distribution and supply agreements with end-use industries are the longstanding successful strategies adopted by companies, sustaining their positions in the global chemical injection pumps market.
This Fact.MR report provides a long-term overview of the chemical injection pumps market for the period, 2019 to 2029. The chemical injection pumps market is anticipated to record a CAGR of nearly 5% through 2029.
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