Growth drivers such as the increasing usage of metering pumps in the oil and gas sector and rising government regulations regarding water treatment are expected to propel the metering pump market at a CAGR of 3.9% during the forecast period (2020–2030). The market was valued at $4.4 billion in 2019, and it is projected to reach a revenue of $6.8 billion by 2030.
Moreover, the expanding chemical industry will also drive the growth of this market in the foreseeable future. The surging use of metering pumps in the oil and gas sector in the extraction of natural gas and oil and the dosing of corrosion inhibitors in midstream processes will drive the metering pump market growth in the coming years.
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The increasing production of crude oil in Iraq, the U.S., Russia, and Saudi Arabia will drive the demand for metering pumps in the foreseeable future. For instance, according to the U.S. Energy Information Administration (EIA), in 2019, the country had 367 million barrels of proved crude oil reserves. Moreover, the rising government regulations regarding water treatment will also fuel the metering pump market growth during the forecast period.
Metering pumps are utilized in water treatment plants to feed chemical additives to the contaminated water, to remove slurry, pollutants, and harmful microorganisms from it. For example, in 2018, the U.S. government amended the Water Infrastructure Act (AWIA). This act authorizes the Environmental Protection Agency (EPA) to decide minimum requirements for protecting drinking water from pollution and makes it mandatory for all surface water system owners or operators to adhere to health-related needs.
This market research report provides a comprehensive overview of the market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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