The Metering Pump Market size is projected to grow at a CAGR of 6.3% to reach USD 4.6 Billion by 2020 according to a recent article posted by MarketsandMarkets.
Among these six applications of the metering pump market, water treatment accounted for the largest market share in 2014 in terms of number of units sold as well as value. Metering pumps have region specific demands that are differentiated by placement, cost, and efficiency. With the flourishing water treatment, pharmaceutical & petrochemicals, and oil & gas industries in the Asia-Pacific region, it is expected to register a high CAGR of over 7% between 2015 and 2020.
The metering pump market size is projected to grow at a CAGR of 6.3% to reach USD 4.96 Billion by 2020. In terms of value, the metering pump market size in water treatment application is projected to reach USD 1.75 billion by 2020, at a CAGR of 5.9% between 2015 and 2020. The growth is attributed to the increasing demand for environmentally friendly wastewater disposal and increasing investment in modernization of infrastructure. Diaphragm type metering pumps offer significant advantages over other type of metering pumps and hence, lead the market whereas plunger/piston type metering pumps, due to their maintenance issues and inability to handle abrasive fluids, are projected to register a relatively lower CAGR.
Asia-Pacific was the prime market for metering pumps in 2014 and is projected to register the highest CAGR between 2015 and 2020, backed by the increasing demand for metering pumps in China. The overall growth of the Asia-Pacific region will be supported by the high growth of the metering pump market in China and India, which are projected to register CAGR between 7%-8% during the forecast period. China is the single largest end-user for metering pumps.