The increase in government promotions and regulations related to product standards, precision stimulates digitization, energy efficiency, and high growth application in areas such as pharmaceutical product has fuelled the demand for the global metering pump market. In addition, the demand for advanced water treatment and wastewater management has boosted along with increasing efforts made in oil and gas expansion augments the growth of this market the commercial zone has witnessed excessive increase in growing areas and consistent increase in developed/matured markets. The enterprise members are eager on addressing the call for in developing economies. The key marketplace gamers are adopting strategies, consisting of growth and joint venture, to beautify their competitiveness, boom their manufacturing capacities, and for higher penetration in excessive-increase areas, for instance, Asia-Pacific.
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Rapid industrialization, enhancing dwelling standards, a massive populace base, and low-value hard work in APAC have prompted organizations to set up their centers on this vicinity and cater to the call for. As new production gadgets are anticipated to return back up all through the forecast period, the call for for metering pumps is projected to rise. Manufacturing centers are specializing in automation to lessen lead times, pointless wastage, and unplanned downtime and make sure the protection of the surroundings and personnel. This is likewise anticipated to propel the marketplace all through the forecast period.
Stringent Regulations for Wastewater Treatment and Increasing Capacity Additions are Key Drivers for Market Growth
Governments of several countries have passed laws and regulations for industries to treat the water before discharging it into water bodies. Metering pumps are being used in wastewater treatment by accurate dosing of several chemicals, such as chlorine or other chemical additives, into the water to maintain pH level and kill pathogens. Therefore, the demand for metering pumps is increasing in the water and wastewater treatment plants.
Growing Customization Demands from End-use Industries Boost Growth for Metering Pump Market
The metering pump requirements in the different industries vary according to their application. The flow rate and discharge pressure need to be adjusted according to the dosing requirement. Moreover, different OEM manufacturer requirements vary according to the industry with regard to the design and performance of products. The need for metering pumps with measuring and control technology, terminal boxes, control cabinets with larger systems, and PLC programmable logic controllers is rising. Hence, to meet process requirements, companies manufacture tailor-made functional blocks. This makes it difficult for companies to attain economies of scale. Moreover, local manufactures are sometimes unable to provide the customizable products due to a lack of technology and skills.
Increase in Focus on Decreasing Water Table Level Helps Market to Expand
The growing demand for potable water across the globe is one of the most important factors that boosts the uptake of metering pumps. The shortage of safe drinking water is a major problem in several regions, with a rapid pace of industrialization and urbanization. This has resulted in the adoption of metering pumps in the treatment of wastewater. The global market is also propelled by the rise in popularity of digital pumping solutions.
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COVID-19 Impact Analysis
- The coronavirus’s unfavorable global effects are already evident, and had a big impact on the metering pumps market in 2020.
- The World Health Organization (WHO) declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths globally. Exports & imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy’s already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- Since the pandemic, the restriction of imports and exports has affected the metering pumps market to a great extent as consumers’ consumption and demand patterns are changing amidst the pandemic.
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