Operational efficiency and a huge saving on maintenance cost are the major factors driving the demand for peristaltic pumps in various industrial applications. The trend of customizing peristaltic pumps for a specific application is on a rise. The custom peristaltic pumps available in different tubing materials, sizes, and pump head shapes are gaining traction in the peristaltic pumps market. The mining industry is also using peristaltic pumps on a large scale, especially to pump highly concentrated solids. Peristaltic pumps are majorly used in thickener underflow as these pumps can accurately control thickener underflow even at various flow rates. Meanwhile, the pharmaceutical industry is fueling the demand for accurate and highly precise peristaltic pumps for coating tablet and pellet.
However, periodic replacement of the tube is required as it often tends to degrade. Moreover, the flow characteristic of the pump is not smooth, hence it is less suitable in the case where there is a requirement for smooth consistent flow. Here, an alternative type of pump needs to be considered.
According to the latest report by Transparency Market Research (TMR), the global market for peristaltic pumps is expected to experience a healthy growth, registering CAGR of 6.3% during 2017-2022. Moreover, towards the end of 2024, the market is projected to bring in US$ 638.3 million revenue.
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Fixed Speed Pumps to Emerge as the Top-Selling Product
Fixed speed pumps are likely to emerge as one of the top-selling products in the global peristaltic pumps market during 2017-2022. Accounting for more than half of the revenue share by 2017 end, fixed speed pumps are projected to exceed US$ 300 million revenue by the end of 2024.
30-50 psig Discharge Capacity to Gain Maximum Revenue Share
30-50 psig discharge capacity of peristaltic pumps are likely to witness impressive growth during 2017-2022. 30-50 psig peristaltic pumps are projected to create an incremental opportunity of over US$ 50 million between 2017 and 2024. By 2017 end, the market is likely to account for nearly one-third of the revenue share.
Water and Wastewater Treatment to Emerge as the largest End-User of Peristaltic Pumps
Compared to all the other sectors, water and wastewater treatment sector is likely to be one of the biggest end-users of the peristaltic pumps. By end of 2024, water and wastewater treatment is projected to reach close to US$ 200 million revenue. Moreover, increasing number of water and wastewater treatment plants across the globe are replacing their existing pumps with peristaltic pumps in order to save the cost of maintenance and for operational efficiency. Meanwhile, industrial process is also likely to witness growth in the use of peristaltic pumps in the near future.
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APEJ to Dominate the Global Peristaltic Pumps Market
Asia Pacific Excluding Japan (APEJ) is likely to remain the dominating region in the global market for peristaltic pumps. China is anticipated to be the fastest growing market in APEJ for peristaltic pumps. Meanwhile, other countries such as South Korea and India are also likely to contribute to the growth of peristaltic pumps in APEJ region. Chemical processing, mining, and wastewater treatment are some of the industries driving the growth of the market in the region. North America and Europe are also likely to witness growth during 2017-2022.
Competition Tracking
Some of the leading players playing an important role in the peristaltic pumps market are Cole-Parmer Instrument Company Limited, Watson Marlow Limited, Wanner Engineering, Inc., Graco, Inc., PCM Group UK Ltd, Seko Spa, Verder Holding B.V, ProMinent GmbH, Flowrox, Inc., and Albin Pump AB.
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