Strong Oil Demand to Drive Growth in Reciprocating Pumps Market

Rockville, USA, 2019-Mar-13 — /EPR Network/ — In order to dissert the market scenario prevailing across the Reciprocating Pumps sector, Fact.MR has evenly presented a new examination titled Reciprocating Pumps Market, to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.

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Reciprocating pumps market is projected to witness a significant growth, according to a latest report by Fact.MR. The reciprocating pumps market growth is being influenced by rising demand for oil and gas worldwide, especially in the petrochemical industry. The growing oil and gas demand is creating substantial opportunities for a range of industrial goods, including reciprocating pumps.

Reciprocating pumps are also being deployed for pumping fluid in wells at high pressure for fracking process and to transfer extracted oil and gas to the processing facility.

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By 2023, the demand for oil is expected to reach 104.7 mb/d, up 6.9 mb/d from 2018, according to International Energy Agency (IEA). Moreover, China and India are likely to account for nearly 50% of the global oil demand by 2023.

Petrochemicals are the key driver for fastest growing oil demand globally. The US oil supply is likely to grow in the coming years with significant growth in Light Tight Oil (LTO) production.

The chemical industry uses a wide range of diaphragm pumps, a type of reciprocating pumps owing to its ease of handling most aggressive, and flammable fluids. The demand for double diaphragm pumps also known as Air Operated Double Diaphragm (AODD) is increasing in the chemical sector.

AODD manufacturers are focusing on offering the user the control of pump’s pressure discharge, safe design to facilitate pumping aggressive chemicals, providing minimal moving parts on the pumps, thereby, eliminating the risk of mechanical problems and ensuring easy installation and maintenance.

Electric double diaphragm pump combining energy-saving benefits of electric device with the diaphragm pump technology has also been introduced for chemical pumping application. Large adoption of this technology is expected in the chemical sector in the near future as it helps in reducing operating cost and energy consumption.

The reciprocating pumps across industries are used and run at a very low speed as compared to the centrifugal pumps. The biggest reason is to protect and increase packing and sealing life of the machine. Manufacturers in various industries use reciprocating pumps with the flow rate of up to 100 m³/h thereby improving reliability and increasing plunger life.

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