October 3, 2019 by Amanpreet
The chemical injection pumps market registered a CAGR of nearly 4% during the course of 2014 to 2018.
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Key Strategies Implemented by Chemical Injection Pumps Market Competitors
According to Fact.MR’s study on the chemical injection pumps market, acquisitions will remain a vital strategy for competitors in a bid to improve market penetration and enhance global presence. Companies are expected particularly focusing on opportunities residing in the chemical and petrochemical industries across key regions. Strategic collaborations, acquisitions of associated businesses, and new product developments are cited to be the primary strategies implemented by chemical injection pumps providers in a bid to capture major shares in the global market revenues. Companies are emphasizing engineering of compact pump designs to eventually reduce the carbon footprint, which is fueling innovations in the chemical injection pumps market. While frontrunners in the chemical injection pumps market primarily adhere to mergers and product diversification, first-movers continue to rely on innovation strategies for market recognition.
Promising growth in the demand for chemical injection pumps and strong presence of manufacturing facilities of some of the key players continue to uplift market attractiveness of Asian countries for participants in the chemical injection pumps market. India and China have reflected considerable market growth in the recent past and are likely to create healthy opportunities for chemical injection pumps market players.
According to the pricing analysis of the chemical injection pumps market, the price sensitivity is undermining the overall revenue growth potential of the market. Emergence of China as a major producer of low-cost pumps has disrupted the market, compelling international pump vendors to focus on product differentiation through advanced technology integration and provision of various additional services. Increasing integration of technologies, such as QR coding is accounting for an added marketing value to online product overviews and pump manuals.
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Key Factors Determining Growth of the Chemical Injection Pumps Market
Chemical Injection Pumps Market - Key Restraining Factors
Additional Insights – Centrifugal Pumps Top Selling, Accounting for Nearly 45% of Chemical Injection Pumps Sales
Fact.MR study states that centrifugal pumps continue to witness higher demand compared to other chemical injection pumps owing to their simple design with mobile parts that accounts for their high-speed movement and low maintenance requisites. The steady output is another important factor underpinning the sales of centrifugal pumps, which currently hold a leading share of nearly 45% in the chemical injection pumps market. In line with the increasing applicability of chemical injection pumps in various infrastructural activities, centrifugal pumps are highly likely to sell higher within domestic and wastewater treatment industries. Reciprocating this surge in the demand from water treatment segments, companies are augmenting their investments in the development of innovative, application-specific centrifugal pumps. Apart from these industries, centrifugal pumps are considered ideal for chemical transfer and circulation in surface treatment industry, attracting the focus of vendors for new product developments.
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