High Pressure Pumps Market Trends

Growth Drivers

• Surging Demand from Automotive Industry– High pressure pumps are used to provide the engine with the necessary fuel. Moreover, it has become an important part of the fuel processing system. Thus, the increase in the sale of vehicles, are further rising the demand for the high-pressure pumps. Therefore, it is anticipated to rise the growth of the high pressure pumps market over the forecast period. According to the survey, the majority of car sales accounting for more than 60 percent were petrol variants in the first half of 2022, in India.
• Increasing Use for Flood Prevention– High-pressure pumps are used to remove excess water from the place. The pumps are used to reduce the long-term effects of standing water and heavy water movement. Moreover, it is used for regaining dry ground after any severe weather conditions, such as hurricane, high tides, excessive rainfall, and others. Thus, the occurrence of severe weather condition, is predicted to expand the growth of the global high-pressure pumps market. For instance, Mawsynram receives rain in an average year of more than ten thousand millimeters in the monsoon.
• Surging Need for Irrigation Facilities – The high-pressure pumps pull the water from the street and push it to the irrigation system at a high volume. Moreover, there are countries such as India, where the farmers are suffering owing to the scarcity of water in the agriculture fields. Therefore, high-pressure pumps can used to provide water in such areas, and it is expected to surge the growth of the high pressure pumps market over the forecast period. As per the estimates, more than 50 percent of the net irrigated area in India is served by groundwater.
• Growing Chemical Industry– There is an increasing demand for high-pressure pumps in the chemical industry for handling chemical solvents at high-pressure. They are used for transferring liquids in the chemical industries that are hazardous in nature. Hence, the growth in the chemical industry is estimated to drive the high-pressure pumps market’s growth. According to recent data, the chemical industry contributes to more than 10 percent of India’s total export value, as of now.
• Rise in the Number of Power Plants– There are different types of high-pressure pumps used in the power generation plants for various applications, such as sending high pressure fluid to the boiler, and others. Therefore, the rise in the number of power plants for power generation is projected to expand the growth of the high-pressure pumps market.  As per the data, more than 7 nuclear power plant construction projects were started in the year 2021 across the globe.

Challenges

• High Cost of the High-Pressure Pumps- The increasing cost of the high-pressure pumps owing to rising trade barriers, and customs duties of the raw materials required for their raw materials. Moreover, the installation cost of the high-pressure pumps in the area also contributes to its price. In addition, the replacement of any component of high-pressure pumps are expensive. Therefore, it is anticipated to hinder the growth of the high-pressure pumps market over the forecast period.
• Requirement of Regular Maintenance for High-Pressure Pumps
• Adoption of an Advanced Technology as a Substitute