Positive Displacement Sanitary Pumps Market is Estimated to Register a Strong 10% CAGR Between 2016 - 2024
Positive displacement (PD) sanitary pumps find a wide set of applications across a number of industries owing to their ability to effectively handle high differential pressure and high-viscosity fluids. The rising consumer preference to processed foods across developed as well as developing economies and improved awareness regarding the adherence of sanitation practices among consumers as well as companies operating in the food sector are driving the increased adoption of these pumps in the food and beverages industry. The market is also seeing favorable growth owing to the stringent regulations compelling companies to adhere to better sanitation and standards is also a key factor driving the market.
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Moreover, the increased adoption of advanced pump systems capable of providing real-time feedback of system performance of machineries has also helped in bolstering the demand for PD sanitary pumps across industries such as pharmaceuticals and biotechnology. Transparency Market Research states that the global PD sanitary pumps market will exhibit a strong 10% CAGR over the period between 2016 and 2024. This will allow the market, which held an opportunity worth US$4.55 bn in 2015, to rise to a valuation of US$10.65 bn by 2024.
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Rotary and Reciprocating PD Sanitary Pumps
PD sanitary pumps are chiefly available in two varieties based on the motion of the internal machinery to move fluids: rotary and reciprocating pumps. Of the key varieties of rotary PD sanitary pumps available in the market, the segment of gear pumps is presently the most preferred one. Gear pumps accounted for a share of nearly 32% of the overall revenues of the rotary PD sanitary pumps market in 2015. The versatility and flexibility offered by gear pumps, along with their economic nature are expected to lead to their sustainable demand across key end-use industry in the next few years. However, the segment is expected to lose prominence to the twin screw pumps variety and see a substantial decline in their share in the rotary pumps market revenues in the next few years.
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