Nearly 1.5 million units of chemical injection pumps were sold in 2018, and the sales are expected to record over 4 percent year-over-year growth this year, according to new research. In addition to increasing applicability in the oil and gas industry and water treatment projects, the sale of chemical injection pumps continues to receive incentive from the growing popularity of high-efficiency solar-powered pumps.
Water treatment will likely see the emergence of multiple key developments as the availability of quality water and the number of natural freshwater reserves decreases and pressure is put on governments to meet the water supply demand. Water treatment initiatives are underway, particularly in developing countries, which bolsters the demand for associated equipment, such as chemical injection pumps.
The long-term overview of the chemical injection pumps market for 2019 to 2029, according to the report, shows that the chemical injection pumps market is anticipated to record a compound annual growth rate (CAGR) of nearly 5 percent through 2029.
According to the analysis by Fact. MR, the oil and gas industry will remain a key focus of vendors in the chemical injection pumps market. Chemical injection pumps are a solution for oil and gas industry operators, as a number of pipeline operators already use chemical injection methodologies for the injection of corrosion inhibitors into pipelines or well sites.
Pneumatic and hydraulic pumps account for around 50 percent of total sales of chemical injection pumps. Electrically powered pumps account for over a third of overall sales, according to the recent study. The high selling potential of electric chemical injection pumps can be attributed to increased adoption across the oil and gas industry in hopes to significantly reduce methane emissions.
The tightening of emission regulations and a growing drive for global energy efficiency have spurred manufacturers to create sustainable solutions. The study projects that a lucrative market for solar-powered chemical injection pumps will emerge in the forthcoming years. The popularity of intelligent metering pump technology for quantitative regulation of injection chemicals has also become an important trend in the chemical injection pumps market.
East Asia’s Projected Growth
According to the study, the chemical injection pumps market in East Asia is likely to account for more than 30 percent of the global market volume estimated for 2019. South Asia is also projected to be among the key regional markets for chemical injection pumps sales. Both regions will remain prime opportunity hubs for stakeholders in the market.
The constantly rising demand for petrochemicals and increasing concern regarding deleterious effects of poor water quality have been pushing investments in the oil and gas industry and water treatment sectors across East and South Asia. These investments have fueled the prediction of an increased demand for chemical injection pumps in this region, according to the report.
However, the report also credits the increasing role of governing bodies in promoting the adoption of specialty application equipment, such as chemical injection pumps.
The global chemical injection pumps market is characterized by a growing focus on the efficiency and accuracy of chemical processes, along with an enduring product life cycle. Companies operating in the chemical injection pumps market are considering new product innovations as a key strategy in hopes this will encourage additional industrial and infrastructure investments by regional governments.
While interest in research and development in solar- and electric-powered pumps is growing, compact design engineering will also be an important strategy to mitigate the carbon footprint. The first movers in the competitive landscape will continue collaborations with established brands, targeting an enhanced capacity for chemical injection pumps, according to the study. Two successful strategies have been long-term distribution and supply agreements with end-use industries. These tactics should sustain success in the global chemical injection pumps market.