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3. New Product Development was the Key Strategy Adopted by Major Players to Enhance Growth Prospects in the Peristaltic Pumps Market Between 2014 and 2016

The peristaltic pumps market is projected to reach USD 467.5 Million by 2021, at a CAGR of 6.8% from 2016 to 2021. A peristaltic pump is a type of positive displacement pump with a tube or a hose, used for pumping a variety of fluids. Peristaltic pumps are manufactured using plastics, cast iron, and stainless steel. It is mainly used for pumping a wide range of chemicals, including acids, bases, corrosives or viscous liquids, aggressive fluids, clean/sterile fluids, and slurries. Peristaltic pumps work on the principle of compressing and pressing the tube or hose material that is positioned between a rotating device and a circular pump housing, where the increased pressure will move the fluid. There has been a growing demand for peristaltic pumps from varied end-use industries, such as water & wastewater treatment, mining, chemical processing, pharmaceuticals, food & beverages, and pulp & paper.

New product development was the key strategy adopted by major players to enhance growth prospects in the peristaltic pumps market between 2014 and 2016. Some of the key players in the peristaltic pumps market include Watson-Marlow Fluid Technology Group (U.K.), Verder Group (Netherland), ProMinent Dosiertechnik GmbH (Germany), Cole-Parmer Instrument Company, LLC (U.S.), Flowrox (Finland), Graco Inc. (U.S.), Wanner Engineering, Inc. (U.S.), IDEX Corporation (U.S.), and SEKO S.p.A. (Italy).  Besides new product developments, companies have also adopted expansions, mergers & acquisitions, and agreements as growth strategies to expand their product portfolios, strengthen their distribution network, and enhance their customer base.

Watson-Marlow Fluid Technology Group (U.K.) adopted expansions and acquisitions as key growth strategies to widen its geographic reach and enhance its market share. In January 2017, Watson-Marlow Fluid Technology Group (U.K.) established its sales and support hub in Concord, Ontario, Canada. This expansion strategy helped the company enhance its customer base and strengthen its distribution channel. In November 2016, Watson-Marlow Fluid Technology Group (U.K.) acquired Aflex Hose Limited (U.S.) and its subsidiary Aflex Hose USA LLC (U.S.) for USD 76.8 million. Aflex Hose specializes in the design and manufacture of PTFE-lined flexible hose. This development strategy helped Watson-Marlow reinforce its presence in the peristaltic pumps market as a leading provider of technologically advanced products. In November 2015, Watson-Marlow Fluid Technology Group (U.K.) acquired business and assets of Flow Smart Inc. (U.K.) for USD 7.12 million. Flow Smart designs and manufactures high purity sanitary gaskets, silicone transfer tubing, and reinforced silicone hoses for bioprocessing and pharmaceutical industries. This development strategy helped Watson-Marlow enhance its business prospects and increase its market share in the sanitary segment.

IDEX Corporation (U.S.), another key player in the peristaltic pumps market, adopted acquisition as its key growth strategy to enhance business prospects. In August 2016, IDEX acquired SFC KOENIG (Switzerland), which specializes in highly engineered expanders and check valves for critical applications. This strategic deal helped strengthen IDEX’s position in the transport, hydraulic, aviation, and medical sectors. In July 2016, IDEX acquired AWG Fittings GmbH (Germany) for USD 48.8 million to enhance its geographic reach in the fire suppression products segment.

Related Reports:

Peristaltic Pumps Market by Type (Tube Pumps, Hose Pumps), End-Use Industry (Pharmaceuticals, Water & Wastewater Treatment, Mining, Food & Beverages, Chemical Processing, Pulp & Paper), and Region - Global Forecast to 2021

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