August 16, 2022 11:30 ET | Source: TBRC Business Research PVT LTD TBRC Business Research PVT LTD
LONDON, Aug. 16, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the diaphragm pump market, the growing demand for oil and gas will propel the growth of the diaphragm pump market. During the upstream and midstream phases of oil refinement, diaphragm pumps are used to draw oil and gas into a refinery chamber. These pumps are highly wear-resistant and can transport large volumes of liquid in refineries that are located near sizable oil sources. Energy consumption increases as economies grow, especially for transporting commodities and materials from producers to consumers. For instance, in 2020, petroleum products accounted for about 90% of the total U.S. transportation sector energy use. Hence, the increasing demand for oil and gas from the transportation industry is expected to drive the market during the forecast period.
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The global diaphragm pump market size is expected to grow from $5.25 billion in 2021 to $5.6 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%. The global diaphragm pump market growth is expected to reach $7.53 billion in 2026 at a CAGR of 7.7%.
Product innovation is shaping the diaphragm pump market. Companies in the market are focusing on developing diaphragm pumps that are highly efficient and environmentally friendly. For instance, in 2021, US-based fluid-handling systems and products company Graco Inc. introduced the new Husky 3300e electric double diaphragm pump, which provides a cost-efficient solution for companies in an environmentally friendly industry. The electric substitute in the device eliminates the high costs related to a compressor and offers up to an 80% energy reduction compared to an air-operated pump.
Major players in the diaphragm pump market are Flowserve Corporation, Grundfos Holding A/S, Idex Corporation, Ingersoll-Rand PLC, Leak-Proof Pumps (I) Pvt. Ltd., Lewa GmbH, Pump Solutions Group, Tapflo AB, Verder International BV, Xylem Inc., Yamada Corporation, Edwards, All-Flo Pump Company, Lutz Pumpen, and Blue-White Industries.
The global diaphragm pump market is segmented By Mechanism into Air Operated, Electrically Operated; By Operation into Single Acting Diaphragm Pump, Double Acting Diaphragm Pump; By End-user Water Treatment, Oil and Gas, Chemical, Pharmaceutical, Food and Beverage, Others.
Asia-Pacific was the largest region in the diaphragm pump market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global diaphragm pump market during the forecast period. The regions covered in the global diaphragm pump industry forecast are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Diaphragm Pump Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide diaphragm pump market overviews, diaphragm pump market analyze and forecast market size and growth for the whole market, diaphragm pump market segments and geographies, diaphragm pump market trends, diaphragm pump market drivers, diaphragm pump market restraints, diaphragm pump market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
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