HOME Research Insight New Product Development Was a Key Strategy Adopted by Major Players to Achieve Growth in the Global Metering Pumps Market

New Product Development Was a Key Strategy Adopted by Major Players to Achieve Growth in the Global Metering Pumps Market

The metering pumps market is projected to reach USD 5.22 Billion by 2021, at a CAGR of 6.2% from 2016 to 2021. Metering pumps is a positive displacement chemical dosing/injection device manufactured using plastics, cast iron, and stainless steel. It is mainly used to pump a wide range of chemicals including acids, bases, corrosives or viscous liquids, and slurries. Additionally, it works on a repetitive basis with a high level of accuracy. There has been a growing demand for metering pumps from end-use industries, such as water treatment, chemical processing, pharmaceuticals, food & beverages, pulp & paper, petrochemicals, and oil & gas.

New product development was a key strategy adopted by major players to achieve growth in the global metering pumps market between 2014 and 2016. Some of the major players in the metering pumps market include IDEX Corporation (U.S.), Injection Technical Control Incorporation (Spain), Lewa GmbH (Germany), Mcfarland-Tritan LLC (U.S.), Milton Roy Company (U.S.), Prominent Dosiertechnik GmbH (Germany), Seko S.P.A. (Italy), Swelore Engineering Private Limited (India), Seepax GmbH (Germany), and SPX Flow Technology Norderstedt GmbH (Germany). Besides new product developments, companies also adopted expansions, mergers & acquisitions, and agreements as strategies to expand their product portfolio, strengthen their distribution network, and easily extend their reach to their customers.

IDEX Corporation used mergers & acquisitions as its major strategy to increase its regional reach and market share in the metering pumps market. 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 company's market in the transport, hydraulic, aviation, and medical sectors. In July 2016, IDEX acquired AWG Fittings GmbH for USD 48.8 million. This deal will enhance the company’s global reach in the fire suppression products and will generate the revenue for their fire and safety business segment. In March 2016, IDEX finalized an acquisition deal worth USD 224.2 million with Akron Brass Holding Corporation. This deal will enable the company to offer world-class products and solutions to its customers.

Injection Technical Control Inc. used new product developments as its major strategy to develop new and advanced products and strengthen its product portfolio. In June 2015, the company introduced a new dosing pump by the name of DOSTEC AC. It is more efficient in dosing of fluids than the existing products. Through this product, the company is focusing on the specific needs of its different clients. In May 2015, the company launched new retention valves, specifically designed for polyelectrolytes and dosing high flows of fluids. The company focuses on meeting the growing demand in the global metering pump market.

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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