Global Positive Displacement Pumps market trends 2024, Forecast To 2033

The positive displacement pumps market size has shown robust growth in recent years, increasing from$11.34 billion in 2023 to$11.98 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to industrialization and manufacturing growth, expansion of oil and gas exploration, water and wastewater treatment needs, chemical processing industry growth, pharmaceutical manufacturing requirements, food and beverage processing demand, power generation applications, and mining and mineral processing operations. Looking ahead, the positive displacement pumps market is expected to continue its growth trajectory, reaching$15.03 billion in 2028, with a compound annual growth rate (CAGR) of 5.8%. This growth in the forecast period can be attributed to the rise in renewable energy projects, expanding role in hygienic applications, smart pumping systems integration, focus on water conservation, demand for oilfield services, growing importance in HVAC systems, increased investment in infrastructure, and advanced materials for pump construction. Major trends in the forecast period include the integration of IoT and smart technologies, the rise of industry 4.0 and digitalization, seal-less pump designs, eco-friendly pumping solutions, adoption of twin-screw pumps, pumping viscous and non-Newtonian fluids, customized pump solutions, and retrofitting and upgradation initiatives.