Extrusion Gear Pumps Market Report Overview
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The global extrusion gear pumps market size was USD 474 million in 2021 and is projected to touch USD 743.3 million by 2028, exhibiting a CAGR of 6.6% during the forecast period.
Extrusion gear pumps are an element of extrusion tools. The foremost purpose of the extrusion gear pumps is to keep the movement and compression of the melt flow to the expire at a constant level, which means to precisely control production to the die. Extrusion gear pumps contain double gears, frequently determined by a single motor. The extruder seals the gears from the suction side, and the revolving gears release the polymer on the other side. By exactly governing the production of melt it removes many of the variables that influence extruder throughput constancy.
COVID-19 Impact: Restrictions on Various Industries to Obstruct Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with extrusion gear pumps experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic stopped the manufacturing of gear pumps, due to lockdown restrictions across the globe. This has hindered the progression of the extrusion gear pump market in the last few months and is likely to endure during 2022. The COVID-19 pandemic adversely affected the engineering components owing to the limitations placed on factory procedures. Manufacturers are anticipated to emphasize shielding their workforce, operations, and supply chains to reply to instant crises and find new conducts of functioning after COVID-19.
LATEST TRENDS
"Increasing Demand from Various Applications to Improve Market Progress"
Extrusion pumps are mounted in all applications in the extrusion and compounding of plastics. Melt pumps are used to construct constant pressure and guarantee constant production. The extruder bolt is reassured, this allows an advanced output power and upsurges the elasticity in diverse applications. Even, effective and continuous pumping of plastic melt over extrusion-die assurances continuous product superiority and measurement.
Extrusion Gear Pumps Market Segmentation
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- By Type Analysis
As per type, the market is classified into 0-50 (cc/rev), 50-200 (cc/rev), 200-500 (cc/rev), and Others.
- By Application Analysis
Based on application, the market is categorized into Chemical Industry, Food & Beverage Industry, Textile Industry, and Others.
DRIVING FACTORS
"Increasing Demand from Construction Sector to Facilitate Market Development"
As the number of emerging nations rises, there is an increasing demand for residential and commercial construction and infrastructure significantly, thus generating the demand for construction equipment. The growing population has also operated the demand for minerals and metals. These issues have definitely inclined the development of the extrusion gear pump market as they are broadly used in construction and mining equipment. Moreover, enlargement in the growing examination of oil and gas has determined the progression of the market.
"Growing Consumer Demand to Foster Industry Progress"
The rapid development and expansion of substantial emerging countries like China and India is driving the extrusion gear pumps market growth. Various countries are facing rapid progress due to the increasing urban population. Therefore, increasing consumer demands and product accessibility have amplified, which had an influence on the development of end-use sectors. The whole enlargement of the end-use sector has directly obstructed the demand for extrusion gear pumps.
RESTRAINING FACTORS
"Side Effects to Hinder Market Progress "
The usage of device meshing gears and hydraulic fluids cannot be propelled with the use of gear pumps, and the production of noise during the working of gear pumps is a foremost restraint on the progression of the industry.
Extrusion Gear Pumps Market Regional Insights
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"Government Policies to Propel Market Progress in North America"
North America held the largest extrusion gear pumps market share. This is due to the rising agricultural and construction actions combined with improved construction expenditure across numerous countries. Supportive government activities by these managements might also appeal to international companies in these nations, thus disturbing the prospects for the region.
Asia Pacific is anticipated to have a sizable market share. This is owing to the wastewater treatment has extended considerably in nations like China, India, and Japan. The augmented funds in construction in developing countries, mainly those in Southeast Asia, is another factor pouring the region's growth. Moreover, the market for these pumps has new prospects due to the growing popularity of renewable energy in several countries.
KEY INDUSTRY PLAYERS
"Incorporation of Research and Development Strategies to Improve their Brand Image"
Due to the existence of numerous local and foreign industry players, the extrusion gear pumps market is fragmented and competitive. These players have employed a variety of measures to maintain their leadership positions and to meet the escalating demands of their prestigious clients, including alliances, partnerships, contracts, geographic expansions, the introduction of new products, joint ventures, and more. To improve their portfolios and establish a foothold in the market, major businesses are also investing heavily in research and development projects.
List of Market Players Profiled
- Dover (PSG) (U.S.)
- Oerlikon (Switzerland)
- Nordson (U.S.)
- WITTE (Germany)
- Coperion (Germany)
- Kawasaki Heavy Industries (Japan)
- Zenith Pumps (U.S.)
- Kobelco (Japan)
- GMA (Philippines)
- Pnh Extrusion Gear Pumps (India)
- PSI (U.S.)
- Batte (India)
- Jctimes (China)
REPORT COVERAGE
The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 474 Million in 2021 |
| Market Size Value By | US$ 743.3 Million by 2028 |
| Growth Rate | CAGR of 6.6% from 2021 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Type & Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the extrusion gear pumps market expected to touch by 2028?
Based on our research, the extrusion gear pumps market is projected to touch USD 743.3 million by 2028.
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What CAGR is the extrusion gear pumps market expected to exhibit by 2028?
The extrusion gear pumps market is expected to exhibit a CAGR of 6.6% by 2028
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Which are the driving factors of the extrusion gear pumps market?
Increasing consumer demand and from the construction sector are the factors driving the extrusion gear pumps market.
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Which are the top companies operating in the extrusion gear pumps market?
Dover (PSG), Oerlikon, Nordson, WITTE, Coperion, Kawasaki Heavy Industries, Zenith Pumps, Kobelco, GMA, Pnh Extrusion Gear Pumps, PSI, Batte, Jctimes are the top companies operating in the extrusion gear pumps market.
