Dublin, Ireland, Aug. 23, 2022 (GLOBE NEWSWIRE) -- According to the recently published report by Fact.MR, a market research and competitive intelligence provider, the global glycol pumps market is estimated to reach as valuation of US$ 224.3 million by 2032 while expanding at an impressive CAGR of 6.1% during the forecast years of 2022-2032. assessment period owing to remarkable potential in the market.
Industrial use of glycol due to its versatile chemical compatibility is one of the primary drivers for the growth of the market. Glycol is inexpensive, and being inert makes it compatible with cheaper materials such as cast iron. Pumps are utilised in a variety of industries, while the need for specialty pumps is rising to facilitate the use of chemical compounds. The relatively low specific gravity and viscosity of glycol makes it compatible with pumps.
Key Industry Insights & Findings from the report:
- The global glycol pumps market is projected to expand at an impressive CAGR of 6.1% to be valued at US$ 224.3 million by 2032.
- Global glycol pumps market witnessed 0.1% CAGR during the period (2017-2021).
- Under end-use industry, the oil & gas industry dominates the market and is estimated to reach US$ 53.6 million by 2032, registering a CAGR of 7.5% during the forecast years.
- Europe dominated the market with 31.1% market share in 2021.
- Together, East Asia and South Asia & Oceania are likely to represent 34.9% of the overall market share in 2022,
- Based on region, demand for glycol pumps is expected to increase at a CAGR of 6% and 5% in Europe and Latin America, respectively, over the decade.
Read 170-page market research report, "Pumps Market Analysis By Type (Ethylene & Propylene) By Capacity (Less than 5 Gpm, 5-10 Gpm, 10-15 Gpm & Above 15 Gpm) By Pump Type (Centrifugal Pumps & Positive Displacement Pumps) By Operating Pressure, End-Use Industry & By Region – Global Insights 2022 to 2032 ", published by Fact.MR Research.
Glycol Pumps Market Growth & Trends
Companies are developing a variety of pumps considering the technical specifications required by application industries, such as head, flow rate, temperature, etc. Companies with strong R&D capabilities are also exploring the potential of glycol in producing clean energy, such as green hydrogen.
Additionally, smart technological integrations in glycol pumps will facilitate access to real-time data collection, failure prediction, and remote monitoring, which would ease the use of pumps for industries by providing efficient control.
Companies are tailoring their offerings as per their end-use bases with required technical specifications. Moreover, most market players have also been focusing on glycol pumps with core technical features, such as max head, max pressure, and max temperature.
Market participants are also focused on developing glycol pumps for natural gas dehydration, which is an essential process in the oil & gas sector, majorly contributing to glycol pumps market share. Rising global natural gas consumption is making companies develop more robust products that are capable of withstanding demanding conditions, such as those with less downtime, lower cost, less leakage, and longer duty cycle.
Due to excellent heat retention and flowable viscosity, it is widely used for maintaining the working temperature of an engine or mechanical system in automotive & transportation industries where external conditions may differ. Water glycol pumps are extensively used in industries where plastic, paint, chemical, food, cosmetic, and pharmaceutical preparations are processed.
- Short Term (2022 Q2 to 2025): Continuous enhancement in thermal and pressure capabilities, temperature ratings, precision clearances, and easy in-field replacements will lead to increased sales of glycol pumps in numerous industries.
- Medium Term (2025-2028): Advanced technological implementations in end-use industries leading to increased production capabilities drive demand for glycol pumps.
- Long Term (2028-2032): As industries are adopting cutting-edge technologies to accelerate their operations, the pump industry is integrating digital technologies into pumps to fit future needs where accelerated output is required. Improved efficiency of pumps would positively affect the demand for glycol pumps.
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Competitive Landscape
Key glycol pump manufacturers are North Ridge Pumps, Kimray, Mcmaster, Viking Pump, LEWA, Verder, Cat Pumps, Xylem, TriRotor Inc, Goulds Pumps, Heat Exchange & Transfer, Inc., John Wood, Inc., T-Mag, Exterran, Rotor Tech, Bifold, HERMETIC-Pumpen GmbH, March Pumps, and Sintech.
The glycol pumps market is rapidly expanding due to technological advancements by key market players. Prominent market players are incorporating advanced features and electrical integrations, and are also focusing on R&D activities. Further, players with big financial power in the market are resorting to acquisitions to gain an edge over others operating in the market.
For instance :
- In Dec. 2021, Kimray acquired Texas-based Control Equipment Inc. The acquisition would result in huge benefits for the industry by combining Kimray's innovation and production capabilities with CEI's distribution network and expertise.
- In March 2022, Atlas Copco´s Power and Flow division agreed to acquire LEWA. The acquisition will strengthen Atlas Copco`s expansion within the industrial pumps business.
- In April 2022, North Ridge Pumps conducted a case study on ATEX-rated plunger pumps for green hydrogen production with the use of ethylene glycol.
Categorization of Glycol Pumps Industry Survey
- Glycol Pumps Market by Type :
- Ethylene
- Propylene
- Glycol Pumps Market by Capacity :
- Less than 5 Gpm
- 5-10 Gpm
- 10-15 Gpm
- Above 15 Gpm
- Glycol Pumps Market by Operating Pressure :
- Less than 50 Bar
- 50-100 Bar
- 100-150 Bar
- Above 150 Bar
- Glycol Pumps Market by Pump Type :
- Centrifugal Pumps
- Positive Displacement Pumps
- Glycol Pumps Market by End-use Industry :
- Chemicals & Petrochemicals
- Food & Beverages
- Pharmaceuticals
- Automotive & Transportation
- Oil & Gas
- Cosmetics
- Plastics
- Paints and Inks
- Others
- Glycol Pumps Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global glycol pumps market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (ethylene and propylene), capacity (less than 5 gpm, 5-10 gpm, 10-15 gpm, above 15 gpm), operating pressure (less than 50 bar, 50-100 bar, 100-150 bar, above 150 bar), pump type (centrifugal pumps, positive displacement pumps), and end-use industry (chemicals & petrochemicals, food & beverages, pharmaceuticals, automotive & transportation, oil & gas, cosmetics, plastics, paints & inks, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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Browse through Fact.MR Research's Glycol Pump Industry Research Reports.
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