Pump market estimated to represent incremental opportunity through 2024
The global pump market is projected to register a compound annual growth rate (CAGR) of 4.6 percent in terms of revenue and 4.2 percent in terms of sales volume between 2016 and 2024, according to a new report titled “Pumps Market: Global Industry Analysis and Forecast, 2016–2024,” by Persistence Market Research. The report analyzes the performance of the global pumps market over an eight-year period and provides insights on the key factors and trends likely to influence the market during the forecast period (2016–2024).
Key drivers of the growth include:
- Government regulations
- Pharmaceutical demand
- Growing need for water treatment and wastewater management
- Oil and gas expansion
The global pumps market is segmented into the five key regions of North America, Latin America, Europe, APAC and the Middle East & Africa. The APAC region is estimated to dominate the global pumps market in terms of revenue with 38.5 percent share by the end of 2016. Sales of pumps in the North America and Europe regions is estimated to collectively account for 48.8 percent share by the end of 2016.
R&D efforts growing portable gas detector markets
Research and development aimed at expanding the types of gases that can be detected by portable gas detectors is growing market demand. R&D and rising demand from Asia-Pacific, North America, and Europe should drive growth in the global market, BCC Research reveals in its new report, Portable Gas Detection Systems: Global Markets.
The global market for portable gas detectors should total $1.1 billion and $1.4 billion in 2016 and 2021, respectively, growing at a five-year CAGR of 4.2 percent. Oil and gas, the largest end user segment, should reach $320.2 million in 2021 at a five-year CAGR of 2 percent. Fire service, the fastest-growing end user segment with a five-year CAGR of 9.9 percent, should grow from $33.8 million in 2016 to $53.9 million in 2021.
Bright future expected for global amines market
As of 2015, APAC, led by China, captured the lion’s market share of the amines market and is projected to post the fastest compound annual growth rate until 2020, spurred by the fast-paced demand in the region is the leading driver of the amines market. But other emerging economies like Mexico, Brazil and India, amid others, are forecast to have a bright future in this industry, according to “Amines Market in Mexico: Business Report 2016,” a topical analysis of the Mexican amines market created by BAC Reports.
Tosoh Corporation, Akzonobel NV, Huntsman Corporation, The Dow Chemical Company, Mitsbishi Gas Chemical Company, Clariant AG, Taminco, Oxea Gmbh, BASF SE and Delamine are some of the leading market players.