PUNE, India, August 23, 2018 /PRNewswire/ --
According to a new market research report "Hydraulic Dosing Pump Market by Type (Diaphragm, Piston), End-user (Agriculture, Livestock, Industry (Water, Oil & Gas, Chemical, Power)), Discharge Pressure (Up to 25 Bar, 25-100, Above 100 Bar), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global market is expected to grow from an estimated market size of USD 771.8 million in 2018 to USD 949.3 million by 2023, at a CAGR of 4.23%. The overall market is set to witness significant growth because of the growing demand for accurate and precise dosing from chemical, oil & gas, and manufacturing industries, along with increasing investments in the water & wastewater treatment sector. Increasing implementation of smart dosing technology coupled with refining capacity additions in the Asia Pacific and the Middle East are the major opportunities for the Hydraulic Dosing Pump Market.
Browse 66 market data Tables and 42 Figures spread through 129 Pages and in-depth TOC on "Hydraulic Dosing Pump Market"
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Diaphragm: The largest type segment during the forecast period
The diaphragm segment is expected to hold the largest share of the Hydraulic Dosing Pump Market during the forecast period. Growing investments in the chemical and water & wastewater treatment sectors along with increased focus on digitalization of manufacturing processes are the major factors driving the Hydraulic Dosing Pump Market in the Asia Pacific. Furthermore, the region is expected to witness significant additions in its refining capacity which will involve various expansions and upgradation projects and new refinery setups during the forecast period. Diaphragm pumps are highly preferred in these industries because of its ability to handle hazardous, toxic, or corrosive chemicals. These factors have resulted in the highest market share of the diaphragm segment in the Hydraulic Dosing Pump Market.
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Hydraulic Dosing Pump Market for up to 25 bar discharge pressure to grow at a higher CAGR during the forecast period
The market for up to 25 bar segment is expected to grow at a higher CAGR during the forecast period. Hydraulic dosing pumps with discharge pressure up to 25 bar are used for dosing purposes in sectors including oil & gas, chemical & petrochemical, power generation, water treatment, and manufacturing. Thus, the rise in demand for hydraulic dosing pumps led by significant investments in these industries is expected to drive the demand for hydraulic dosing pumps during the forecast period.
Asia Pacific: The fastest-growing market for hydraulic dosing pumps
In this report, the Hydraulic Dosing Pump Market has been analyzed on the basis of 5 regions: Asia Pacific, North America, Europe, and the Middle East & Africa. The Hydraulic Dosing Pump Market in the Asia Pacific is driven by countries such as China, India, South Korea, and the ASEAN. The demand for hydraulic dosing pumps in this region is driven by rising refining capacity additions, investments in water & wastewater treatment sector, and demand from the manufacturing industry.
To enable an in-depth understanding of the competitive landscape, the report includes the profiling of some of the key players in the Hydraulic Dosing Pump Market. These players include Dover Corporation (US), Grundfos (Denmark), SPX Flow (US), IDEX Corporation (US), and LEWA (Germany). Leading players are trying to establish themselves in the markets of developing economies and are adopting various strategies to increase their market shares.
Know more about the Hydraulic Dosing Pump Market:
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