In 2018, the global metering pump market generated a revenue of $4.2 billion and is projected to witness a 6.0% CAGR during the forecast period (2019–2024). The market is growing due to the rising demand from the oil & gas industry, strict government regulations regarding water treatment, and growing demand from the chemical industry.
A metering pump is utilized for moving precise volumes of fluids (chemicals, solutions, and water) in a specified period of time and at an adjustable volumetric flow rate.
When type is taken into consideration, the metering pump market is divided into piston, diaphragm, and others (which include peristaltic pumps and syringe pumps). Out of these, the largest share of the market was occupied by diaphragm pumps during the historical period (2014–2018), both in terms of value and volume.
The division is further bifurcated into metallic and polytetrafluoroethylene (PTFE). The category of PTFE is predicted to hold the larger share of the market and grow at the faster pace during the forecast period, as PTFE pumps are cheaper than metallic pumps.
On the basis of end user, this market is categorized into petrochemicals, chemical processing, pharmaceuticals, pulp & paper, water treatment, oil & gas, food & beverage, and others (which include mining, construction, textiles, and agriculture).
Based on region, the metering pump market is categorized into Europe, Latin America, Asia-Pacific (APAC), Middle East & Africa, and North America. During the historical period (2014–2018), the largest share in the market, in terms of revenue, was accumulated by the APAC region
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Among these, the water treatment category accounted for the major share of the market during the historical period and is further predicted to retain its position during the forecast period. Metering pumps are utilized in wastewater treatment and municipal drinking water treatment applications for making water suitable for disposal or reuse.
Therefore, the market for metering pumps is headed toward a bright future due to the increasing exploration activities for CBM and oil & gas.
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