As per Future Market Insights, the pump feeders market is anticipated to attain a value pool of US$ 95 billion by 2023-end. Global demand for pump feeders is expected to rise at a CAGR of 7.7% to US$ 200 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 95 billion |
| Projected Market Value in 2033 | US$ 200 billion |
| Growth Rate (2023 to 2033) | 7.7% CAGR |
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The demand for smart and connected pump feeders is expected to continue to grow as the manufacturing industry becomes increasingly digitized. Manufacturers are responding to this trend by developing pump feeders that are equipped with the latest technologies, such as IoT, AI, and machine learning.
Manufacturers are developing hygienic pump feeders that are easy to clean and maintain, reducing the risk of contamination. Hygienic pump feeders are also designed to be compatible with different types of food products, reducing the risk of cross-contamination.
The demand for hygienic pump feeders is expected to continue to grow as the food and beverage industry becomes increasingly focused on food safety and hygiene. Manufacturers are responding to this trend by developing hygienic pump feeders that comply with food safety regulations and can handle a wide range of food products.
The market growth is set gain substantial sales in the forecast period, owing to increase implantation in End use industries like chemical, Food processing, etc. Primarily these pumps are used for conveying materials from one point to another.
Evolving end-user demand for conveying with hygiene and homogenization of products and materials continues to the drive demand. Chemical sector continue to be a lucrative avenue for the manufacturers in the field of industrial solvents, lubricants and paints.
Sales of these pumps has been driven at a rapid rate from the slew of investments in new facility establishments as envisaged by the stakeholders. Pump Feeders have also found their extensive application in processed food and beverage industry, particularly involving processes such as homogenization, pasteurization mixing, filling and other processes.
In addition, pump feeders are also used in industries like building materials e.g. concrete slurry, sewage treatment, mining & metals and others. Their primary job is to convey the product and materials. Although with increased advancement they have been adopted in different industries for different application, which in case for this pumps is driving the market.
With the above mentioned end use verticals registering a healthy annual rate of growth in recent periods, the growth opportunity for market participants related to pump feeders does appear lucrative in the forecast period.
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Food and Beverage sales around the globe have been impacted by COVID-19-induced slowdown. This has also had a ripple effect on industry’s raw material suppliers. As this pumps are primarily used in almost every food and beverage industry, Pump Feeders manufacturers are likely to witness sustained opportunities in the future.
These pumps finds its application in chemical industry, favorable for handling and treating dry chemicals and low vicious solutions. Although lockdown and shelter-at-home guidelines have meant restricted sporting activities, sales are likely to improve over the course of the assessment period.
USA is one of the regional market considered to have a lion’s share in the global Pump Feeders market. Demand is likely to remain muted in the next couple of years, as a number of end-use industries make gradual recovery.
As the USA enters the 2nd year of pandemic, the food and beverage industry is struggling to come in terms with it. The crisis has reversed some trends, accelerated others. The enormous shifts in demand among customers compelled to shelter at home were arguably the most significant disruption.
As consumers found themselves needing to make most or all of their meals at home, demand shifted away from foodservice and this is set to have negative impact on the global Pump Feeders market.
Furthermore, industries like chemical were similarly affected by the global pandemic and ACC (American Chemistry Council) estimated that US chemical output fell by 3.6% in 2020. Although in 2021 economy is showing signs of getting on track. ACC estimates that US economy will grow 3.7% in 2021 and chemical production will rise by 3.9%.
The region was severely impacted by covid-19 in induced crisis, which slow down its economic activities. However the recovery is expected soon in the near future.
High industrialization in countries like USA, China, India and Japan is set drive the market in the region. Increasing production rate in manufacturing, food and processing industries has thus augmented the sales of the device. Also increasing chemical and pharmaceutical industry in the region is further uplifting the market in the region.
Some of the leading manufacturers and suppliers include
Many leading manufacturers and suppliers have longstanding contracts with end-users to supply this pumps and directly procure this products.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Pump Feeders Market
