Market Trends of Global Lobe Pumps Industry
This section covers the major market trends shaping the Lobe Pumps Market according to our research experts:
Chemical Industry to Hold Significant Market Share
- Valuable chemical compounds such as acids, caustic alkalis, solvents, and polymers are commonly used in the manufacturing process of many industrial plants, as effective fluid management is highly critical in ensuring a safe environment and productive manufacturing process. Positive displacement pumps, such as lobe pumps, are an ideal solution for these industries, as they are more efficient than centrifugal pumps in moving highly viscous liquids and can provide higher pump pressure.
- In addition, lobe pumps have several advantages, including the ability of the pump to move solids suspended in the slurry without damaging the product. The gentle pumping action further minimizes product failure. Lobe pumps can process larger particles than other types of positive displacement pumps can.
- There are several vendors who are offering lobe pumps specifically designed to fulfill the requirements of the chemical industry. For instance, Bonve, offers a comprehensive range of chemical-grade lobe pumps, that are suitable for transferring chemical products with high solid, high viscosity, strong corrosion, etc.
- Considering the benefits these pumps offer, the demand for lobe pumps is increasing significantly in the chemical industry, which in turn is encouraging the vendors to launch new products and invest in R&D to further enhance the efficiency and reduce the complexity of these pumps. For instance, in March 2022, Vogelsang launched two new industrial pump series, EP and VY series rotary lobe pumps. The EP and VY series has an integrated body designed for optimal flow, hence, can be equipped with various sealing systems, giving it flexibility in demanding areas such as the oil, gas, and chemical industries.
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Asia Pacific to Witness Fastest Growth in the Market
- The Asia Pacific region is considered to be one of the leaders in the global lobe pump market. The increase in urban population and rapid industrialization across various countries of the Asia Pacific region has created greater demand for lobe pumps. For instance, according to the National Bureau of Statistics of China, industrial production in the country increased by 9.6 percent in 2021 as compared to the previous year.
- The high growth of process industries such as food and beverage, oil and gas, and pharmaceuticals are expected to increase the demand for lobe pumps in the region. Increasing investment in the pharmaceutical industry across countries such as India, Vietnam, etc., is also driving the use of new rotary lobe pumps. For instance, according to the Ministry of Commerce & Industry, pharmaceutical exports from India have witnessed a growth of 103% since 2013-14, from INR 90,415 Crores in 2013-14 to INR 1,83,422 Crores in 2021-22.
- Across the Asia Pacific region, wastewater treatment is another major industry. The demand for lobe pumps is expected to grow as various countries increase their industry investment to ensure sufficient water availability for multiple purposes. For instance, in April 2022, SUEZ was awarded a 30-year, build-and-operate contract for an industrial wastewater treatment plant in Changshu through a local joint venture. The project has an estimated investment of about EUR 37 million and a daily treatment capacity of a 15,000-meter cube.
- In addition, upgrades and refurbishment of oil and gas exploration assets in the region are expected to create positive market prospects. Furthermore, the growing concerns about limited water resources have led governments in several areas, including China and India, to promote wastewater treatment and recycling. These factors are creating a favorable market scenario for the region's lobe pumps market growth.
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