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Pharmacy benefit management market
Digital Dosing Pump Market Report Overview
The global digital dosing pump market size was USD 254.8 million in 2021. As per our research, the market is expected to reach USD 407.9 million by 2028, exhibiting a CAGR of 7.0% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-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.
A digital dosing pump is a water displacement pump used to inject a chemical or similar substance into a flowing stream of water, steam or gas. Dosing pumps are usually small and provide a very precise flow rate for precise control. Metering pumps are used in a variety of industries, including water and wastewater, agriculture, manufacturing, medicine, and the food industry. Increased demand for water treatment applications and stringent government regulations are the two major reasons driving the global metering pumps market. In addition, the increasing development of infrastructure is expected to increase the use of metering pumps, especially in industrial environments.
The demand for digital dosing pump is primarily driven by strict water and wastewater regulations, growth in manufacturing industries, growth in oil and gas capacity, and healthy growth in the pharmaceutical and food and beverage industries, mainly in developing countries.
COVID-19 Impact: Market Expansion Has Been Hampered By Disruptions in the Supply Chain
Many countries have taken important measures to prevent the spread of the COVID-19 virus. Among the many measures are partial or total work stoppages, travel restrictions, closures of businesses and factories, and unemployment. Due to the distance and labor shortage caused by the measure, suppliers are no longer able to manufacture and transport goods according to schedule, which prevents manufacturers from fulfilling their contractual obligations to consumers on time. There is now a significant gap between supply and demand as several industries that use metering pumps for many functions have been discontinued. The impact of supply chain disruptions on the signing of new contracts by manufacturers, as well as the increase in inflation and the instability of raw materials and energy negatively affected the income of various projects and manufacturers.
Latest Trends
"Growing Demand for Safe And Potable Water Will Drive The Market Growth"
Growing demand for safe and potable water is a major driver for the growth of the chemical dosing pumps market. Growing demand for chemical dosing pumps to maintain proper chemical levels in swimming pool and water treatment is one of the major drivers for the growth of the market. Expansion of spa culture is also contributing to the growth of the chemical dosing pump market as they can effectively kill bacteria and other contaminants found in swimming pools. In addition, the implementation of strict environmental requirements and the promotion of energy-efficient products are driving the development of the digital dosing pump market.
Digital Dosing Pump Market Segmentation
- By Type Analysis
According to type, the market can be segmented into Diaphragm Pump, Peristaltic Pump, Others.
Growing demand for safe and potable water is anticipated to be the leading segment.
- By Application Analysis
Based on application, the market can be divided into Municipal Water Treatment, Industrial Manufacturing, Food & Beverage, Others.
Municipal Water Treatment will be dominating segment.
Driving Factors
"Increased Demand for Pumps to Augment the Market Growth"
The use of digital dosing pumps in various end-user industries is likely to provide an opportunity for digital dosing pump market growth. They are widely used in the oil and gas industry and also in the pharmaceutical industry, which greatly increases the demand for the products and thus accelerates the growth of the market. Growing awareness of the benefits of dosing pumps will further fuel the digital dosing pumps market growth. In addition, focusing on automation reduces lead times, unnecessary waste and unplanned downtime, and ensures environmental and personal safety, as well as promotes market value growth. Increasing number of desalination plants to address water shortage in the GCC countries and other developed and emerging economies are other market growth determinants expected to boost the market.
"Increasing the Use in the Chemical Industry to Fuel Market growth "
Chemicals with different characteristics and properties are used in almost every industry. Chemicals, which are often obtained and stored in high concentrations, can harm both people and the environment if misused. Therefore, it is very important to ensure that chemicals are evenly distributed throughout the manufacturing process. Dosing pumps are increasingly used in the petrochemical and chemical industries to inject solvents, acids, etc.
Restraining Factors
"Increasing Customization Requirements and Fluctuations In Raw Prices to Hinder the Market Growth"
The requirements for a digital dosing pump in different fields vary depending on the application. Depending on the required dose, the flow rate and discharge pressure must be adjusted. In addition, local manufacturers are sometimes unable to create custom products due to a lack of technology and talent. As a result, this aspect hinders the expansion of the market. Stainless steel, iron, copper and bronze are the main raw materials used in the production of digital dosing pumps. The prices of these raw materials depend mainly on inflation, production and availability. Fluctuations in raw material prices can cause volatility in production costs for dosing pump manufacturers. Manufacturers may struggle to predict and control costs, which can negatively impact their pricing strategy and profit margins.
Digital Dosing Pump Market Regional Insights
"Asia Pacific to dominate owing to Infrastructure Development "
Asia Pacific is expected to hold the largest digital dosing pump market share. Local operators can have the opportunity to expand their product lines and better serve customers when companies work together to improve oil production and establish themselves in the region. Expansion of the infrastructure and industrial sectors is one of the main drivers of the Asia Pacific market. Heavy infrastructure investments are being made in China, India, Japan and other Asian countries which are expected to boost the industry output.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. Key industry players in the antacid tablet market have a significant impact on market dynamics. These companies are at the forefront of research and development, consistently introducing innovative formulations and product variations. Their focus on convenience and effectiveness sets industry standards and influences market growth.
List of Market Players Profiled
- Grundfos (Denmark)
- ProMinent (Germany)
- Burkert (Germany)
- Blue-White Industries (U.S.)
- Seko (U.S.)
- SERA (Germany)
Report Coverage
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 254.8 Million in 2021 |
Market Size Value By |
US$ 407.9 Million by 2028 |
Growth Rate |
CAGR of 7% from 2021 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the digital dosing pump market expected to touch by 2028?
Based on our research the digital dosing pump market is expected to reach USD 407.9 million in 2028.
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What CAGR is the digital dosing pump market expected to exhibit by 2028?
The digital dosing pump market is expected to exhibit a CAGR of 7.0% by 2028.
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Which are the driving factors of the Digital Dosing Pump market?
Increased demand for pumps and increasing the use in the chemical industry are two main driving factors of the Digital Dosing Pump market.
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Which are the top companies operating in the Digital Dosing Pump market?
The top key players in the Digital Dosing Pump market are Grundfos, ProMinent, Burkert, Blue-White Industries, Seko, SERA.