Milton Roy (US) and IDEX Corporation (US) are the Leading Players in the Metering Pumps Market
The global market size of metering pumps is projected to grow from USD 4.3 billion in 2018 to USD 5.9 billion by 2023, at a compound annual growth rate (CAGR) of 6.5% during the forecast period. The major driving factors in the metering pumps market are stringent government regulations, high growth application areas, and digital pumping solutions.
The leading players in the metering pumps market are Milton Roy (US), ProMinent (Germany), IDEX Corporation (US), LEWA (Germany), Grundfos (Denmark), SEKO (Italy), Verder Group (Netherlands), Dover Corporation (US), and Watson-Marlow Fluid Technology Group (UK). These players adopted expansion and new product development as their key growth strategies between 2013 and 2017, which helped them increase their capacities and cater to the widening customer base.
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Milton Roy (US) adopted the strategy of new product development to meet the rising demand from domestic and international markets. In October 2016, the company unveiled its new product, PROTEUS, at the Water Environment Federations Annual Technical Exhibition and Conference (WEFTEC). The product is designed to offer a new level of accuracy, reliability, and control for the municipal and industrial wastewater treatment. This new product will enhance the company’s sales in the water segment.
IDEX Corporation (US) has been actively participating in various strategic developments. In December 2016, Pulsafeeder, the subsidiary of IDEX, launched PULSAPRO line of hydraulic actuated diaphragm metering pump. This pump with improved features will target the downstream oil & gas, chemical processing, and water treatment industries. In August 2016, IDEX acquired SFC KOENIG (Switzerland), which specializes in highly engineered expanders and check valves for critical applications. This strategic deal will further strengthen the companys market in the transport, hydraulic, aviation, and medical sectors.
LEWA (Germany), which is one of the major suppliers to the oil & gas industry, has commissioned a new testing room for process pumps at its Leonberg site. This allows safe and continuous operation of pumps, and hence, may increase the service period. In December 2016, the company has signed a purchase contract of the takeover of the entire plant of Seko Middle East FZE. According to this acquisition agreement, the company will take over all the assets as well as the chemical injection package business for the oil & gas, petrochemical, and power plant sectors. This deal will further improve the company’s competitiveness in the water treatment industry.
Related Reports:
Metering Pumps Market by Type (Diaphragm, Piston/ Plunger), End-Use Industry (Water Treatment, Petrochemicals, Oil & Gas, Chemical Processing, Pharmaceuticals, Food & Beverages, Pulp & Paper), and Region - Global Forecast to 2021
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