Ansi Pumps Market Size, Share, Growth, and Industry Analysis by Type (Horizontal Ansi Pumps & Vertical Ansi Pumps), By Application (Oil and Gas, Chemical Industry, General Industry & Others) & Regional Forecast By 2031

Updated On: 15 April 2024

Ansi Pumps Market Report Overview

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The global ansi pumps market size was USD 1601.2 million in 2022, as per our research, the market is expected to reach USD 2201.29 million in 2031, exhibiting a CAGR of 3.6% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with ansi pumps experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

American National Standards Institute pumps, often known as ANSI pumps, are a type of centrifugal pump that abides by a set of standards put out by ANSI. The pump standards guarantee uniformity in these pumps' designs, functionality, and part interchangeability. Numerous industries, such as oil and gas, chemical processing, power generating, water treatment, and general industrial applications, use ANSI extensively. They are renowned for their durable design, dependability, and simplicity of maintenance. They guarantee interoperability and compatibility between pumps produced in accordance with these specifications and other ANSI-compliant parts.

They are frequently used in industrial settings. They assist in ensuring uniformity, dependability, and security in pump installations across many sectors. Within the overall industrial pump market, the market represents a sizable portion. The requirement for dependable fluid handling solutions across a number of industries, as well as industrial expansion, infrastructure improvement, and other considerations, all contribute to the need for these pumps. Economic conditions, technical developments, governmental laws, and the particular requirements of various industries all have an impact on the market.

COVID-19 Impact: Industry Shutdown Causes Market Distortion

The COVID-19 outbreak caused unstable markets, a drop in consumer confidence, and problems with import and export commerce for producers of machinery and equipment. Markets were shuttered as a result of the lockdown, and many people stayed inside. Supply chain breaches, stock market inefficiencies, and vendor instability are the result of this evolution. The market as a whole was impacted by the shutdown of the machinery and equipment industry. Because there was no longer a market for the product, it has become obsolete as those markets closed. In order to maintain stability amidst the disruptions, organizations were forced to redesign their entire operational structures as a result of the pandemic. The financial imbalance brought on by the closure of numerous stores and significant sectors was the primary factor that distorted the entire market. In addition, the outbreak has a negative impact on the business operations of the enterprises, which affects the market as a whole. The ansi pumps market has been somewhat impacted by this.

LATEST TRENDS

"Energy Efficiency to Boost the Market Growth"

An essential component of the ANSI sector is energy efficiency. Energy-efficient pump solutions are becoming a higher priority for manufacturers and end users for a variety of reasons, such as financial savings, environmental concerns, and legal obligations. High-efficiency motors are being used by the manufacturers in their pump systems. These motors are made to reduce energy waste and boost general pump effectiveness. High-efficiency motors adhere to industry standards including IE3 (International Efficiency) and NEMA Premium. The performance and energy usage of pumps are greatly influenced by impellers. Manufacturers are spending money on R&D to improve the hydraulic efficiency of impeller designs. Advanced impeller designs reduce hydraulic losses, resulting in higher energy efficiency. The market is anticipated to grow as a result. The industry is anticipated to grow during the forecast period thanks to this trend. Thus, it is anticipated that the energy efficiency will increase overall market sales. These new developments and varieties in product are mostly to blame for the market's overall growth.

Ansi Pumps Market Segmentation

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• By Types 

Based on type, the market is classified into horizontal ansi pumps & vertical ansi pumps.

• By Application

Based on the market is categorized into oil and gas, chemical industry, general industry & others.

DRIVING FACTORS

"Technological Advancement that Gives the Market Extra Boost"

The performance, effectiveness, and dependability of these pumps have been considerably impacted by technological developments in the pumps market. Modern pump designs created by manufacturers optimize hydraulic efficiency, reduce energy usage, and enhance overall pump performance. The impeller and casing designs are optimized using computational fluid dynamics (CFD) methods and computer simulations, which increases pump efficiency. The durability, corrosion resistance, and operating lifespan of these pumps have all been enhanced by the use of cutting-edge materials in their manufacture. To withstand corrosive fluids and demanding operating circumstances, high-performance materials such as stainless steel, duplex stainless steel, and special alloys are used. The market demand is anticipated to be driven by all of these factors. As a result, the growth, and the advancements in technology will boost the market. It will contribute to the expansion of the machinery and equipment industry and it will improve the overall ansi pumps market growth.

"Material Innovation to Encourage Market Expansion"

These pumps now perform better, last longer, and operate more efficiently thanks to material advancements on the market. Due to its exceptional capabilities for resisting corrosion, stainless steel is frequently employed in this industry for construction. It is a popular option in sectors including chemical processing, oil and gas, and wastewater treatment since it is especially well-suited for handling corrosive fluids and conditions. A high-performance material, duplex stainless steel provides higher mechanical strength and corrosion resistance. It features a balanced microstructure of ferrite and austenite, offering high resistance to stress corrosion cracking, pitting, and crevice corrosion. Pumps for demanding applications, such as seawater handling and offshore installations, frequently use duplex stainless steel. High-nickel alloys, such as Hastelloy and Inconel, are known for their exceptional resistance to corrosion, high temperatures, and aggressive chemicals. These alloys are used in markets which boost the sales. This will increase demand for the product and help the industry as a whole to expand. The product line expansion is helping the market to grow.

RESTRAINING FACTORS

"High Cost to Impede Market Expansion"

The market is being hampered by excessive costs. Particularly when compared to other types of pumps, ANSI can be quite pricey. Particularly for smaller-scale applications or projects with tight budgets, the higher initial prices may discourage some purchasers or prompt them to look into alternate pump choices. Therefore, during the forecast period, these factors are anticipated to restrain market growth. But as time goes on, this issue will be resolved in some way. If this problem is fixed, the market will start to grow right away.

Ansi Pumps Market Regional Insights

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"North America Dominating the Market Across the Globe"

The market for ansi pumps in North America has benefited from the region's expanding industrial development and a number of driving factors that have boosted the potential sectors because this region is the product's primary user. The rising product used in the oil and gas; chemical industry & general industry is boosting the ansi pumps market share. Trends toward rapid urbanization will support the market as a whole even more.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

•               Flowserve (U.S.)
•              Dover (PSG) (U.S.)
•              Xylem (U.S.)
•              Pentair (U.S.)

REPORT COVERAGE

The market segmentation by type and application is covered in great detail in the study. A wide range of participants, including current and potential market leaders, are examined in the study. A number of significant factors are expected to lead to a sizeable market expansion. In order to gain market insights, the research also looks at factors that could raise the share of ansi pumps industry. Forecasts for market growth over the anticipated time period are made in the report. Explaining why one region dominates the global market is the goal of regional research. A number of properly considered factors limit the industry's ability to expand. A strategic analysis of the market is also included in the research. It contains comprehensive market data.