The global metering pumps market size is projected to grow from USD 6.1 billion in 2020 to USD 7.9 billion by 2026, at a CAGR of 4.4% during the forecast year. The global metering pumps market has been witnessing consistent growth due to the stringent government regulations regarding water treatment, growth of chemical, petrochemical and oil & gas industries, Moreover, an expected double-digit growth of pharmaceutical industry in developing countries, and the demand for digital pumping solutions are driving the metering pumps market. Along with this, the increasing demand for superior quality, reliable, and accurate metering systems and expansion of chemical plant capacities are expected to offer opportunities for metering pump manufacturers.
The metering pumps market is dominated by large players, such as IDEX Corporation (US), LEWA (Germany), Ingersoll Rand (US), Dover Corporation (US), ProMinent (Germany), Grundfos (Denmark), SEKO (Italy), and Watson-Marlow Fluid Technology Group (UK). These players have adopted several strategies, such as acquisitions, agreements, and expansions, to enhance their market footprint and product portfolios.
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Owing to the COVID-19 pandemic, there has been a significant slump in demand for metering pumps across the globe, owing to which, the company such as Ingersoll Rand and IDEX Corporation has started development of new technology along with aggressive marketing of the product to expand client base and to mitigate the impact on business.
Most of the European and North American countries, especially Italy, Spain, the UK, France, the US, and Germany, are severely impacted by the COVID-19 pandemic. The suspension of manufacturing operations in several industrial sectors has resulted in a slump in demand for the metering pumps. Moreover, owing to the COVID-19 pandemic, the demand from the manufacturing sector had slumped sharply in the H-1 2020. This impact was further intensified by increasing gap between supply-demand of crude oil and with the declining oil & gas prices. However, during pandemic period, the growing demand from the food & beverage, and pharmaceutical industries supports to offset the marginal decline in demand caused due to slowdown in the manufacturing sector across the globe.
Other companies have initiated the following developments:
Metering Pumps Market by Type (Diaphragm, Piston/Plunger), End-Use Industry (Water Treatment, Petrochemicals, Oil & Gas, Chemical Processing, Pharmaceuticals, Food & Beverages, Textile, Automotive, Pulp & Paper), and Region- Global Forecast to 2026
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