ATEX Pumps Market: Current Analysis and Forecast (2024-2032)
Emphasis on By Type of Pumps (Centrifugal Pumps, Positive Displacement Pumps, Diaphragm Pumps, and Gear Pumps), By Material of Construction ( Stainless Steel, Cast Iron, Plastic, Alloy-based Material), and Regions (North America (The US, Canada, Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of the Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World)
Global ATEX Pumps Market Size & Forecast
The Global ATEX Pumps market was valued at USD 7,255 million in 2023 and is expected to grow at a strong CAGR of around 6.14% during the forecast period (2024-2032). Due to heightened concerns for industrial safety and increasing demands for stricter regulation, ATEX pumps have become indispensable in industries requiring high safety standards concerning handling risks associated with explosive environment.
Global ATEX Pumps Market Analysis
ATEX pumps are pumps specifically designed and certified for safety in potentially explosive atmospheres under the ATEX (Atmosphères Explosibles) requirements. Other stringent safety requirements are imposed to avoid ignition sources in hazardous environments arising in oil and gas, chemical, pharmaceutical, and mining industries. ATEX pumps will handle flammable gases, vapors, dust, and other hazardous materials without putting safety at risk.
The Global ATEX Pumps market was valued at USD 7,255 million in 2023 and is expected to grow at a strong CAGR of around 6.14% during the forecast period (2024-2032). The worldwide ATEX market deals with equipment and systems intended for use in explosive environments in sectors like oil and gas, chemicals, pharmaceuticals, and mining. ATEX, short for Atmospheres' Explosible, refers to equipment and protective systems intended for use in explosive atmospheres, which are the standards of the European Union. These regulations essentially certify that the products are safe for applications in areas hazardous to explosive gases, vapors, or dust. Industrialization and demand for safety in hazardous working environments are the main driving forces for the ATEX market. The growing demand for ATEX-certified products, including ATEX pumps, lights, motors, and sensors, follows tighter standards of safety being enforced in industries.
The evolution of the ATEX pumps market hence gives more importance not only to industries worldwide but also to energy security and environmental sustainability. Through safer and more effective pumping solutions where there is a risk of explosion, ATEX pumps are working toward energy diversification and the move for cleaner energy. They help diminish the use of conventional fossil fuels such as oil and coal by assisting in the extraction and transportation of cleaner sources such as natural gas. In addition to that, the very existence and growth of ATEX pumps uphold the contest of international climate goals by ensuring energy clean extraction processes for more sustainable use. New innovations in ATEX pumps further shed light on their contribution to solving the sustainability problem: an improvement of fracturing techniques that minimize water risk and environmental footprint. This evolution is also disrupting the global natural gas markets, in turn creating cheaper energy alternatives to fossil fuels and cleaner energy option. Considering all the changes the demand for the ATEX Pumps during 2024-2032.
Global ATEX Pumps Market Drivers
This section discusses the key market drivers that are influencing the various segments of the Global ATEX Pumps Market as identified by our team of research experts.
Rising Demand in Emerging Economies
The increasing demand for ATEX equipment in the emerging economies is one of the factors influencing the global market. Industrial growth is accelerating in Asia-Pacific, the Middle East, and Latin America, where oil and gas, chemicals, mining, and manufacturing sectors are experiencing rapid expansion. These industries are often characterized by environments of high risk wherein explosive atmospheres can form due to flammable gases, dust, and vapors, thereby increasing the demand for safety-critical equipment.
Emerging economies are also seeing wonderful investment opportunities for creating infrastructure, urbanization, and industrialization, which is the basis for new industrial setups in these hazardous areas. Worker safety is of utmost importance, and it is here that ATEX-compliant equipment is required to prevent accidents and comply with international safety regulations.
Further, many of these economies are upgrading existing infrastructure to meet global standards for safety, thus supplementing the demand for ATEX-certified products. The pressure for worker safety is growing, along with increased awareness of environmental and regulatory risks, driving the ATEX solutions. Sustained growth is predicted in the explosion-proof equipment market as these regions progress, with major opportunities for well-established manufacturers and newcomers who want to gain a foothold in these high-growth areas.
Europe is Expected to Hold Major Market Share During Forecast Period
Overview:
The Europe ATEX Pump market is seeing a steady rise in growth as the stringent industrial safety regulations and explosion-proof equipment demand have made their mark across some high-risk industries in the region. We find some of the most advanced manufacturing sectors in Europe including oil and gas, chemicals, pharmaceuticals, and mining that operate under conditions susceptible to explosive atmospheres. Broadly Germany, France, UK, and Netherlands are major contributors towards furnishing the demand for the European ATEX pumps market owing to their heavy-duty industries.
The European Union has set some of the most rigorous safety standards under the ATEX Directive (2014/34/EU), which mandates that every equipment used in explosive environments passes safety certifications, thereby aiding in the demand for ATEX certified pumps. Close behind in the bandwagon are energy-efficient, sustainable solutions; it is thus the demand by industry for sustainable ATEX pumps that cause the launching of these pumps that do not impair the environment yet conform to the highest safety standards. There is a major sea-change in demand from traditional ATEX pumps to IoT-enabled explosion-proof devices, especially for oil and gas and chemicals that require organizations for real-time monitoring and predictive maintenance. With further spending on infrastructure upgrades and improved focus on worker safety, the European ATEX pump market is expected to witness growth. These technology advancements with the environmental concern will keep ATEX pumps in the core of European industrial operations for many more years. Considering all the shifts the demand for ATEX Pumps would further grow during 2024-2032.
Global ATEX Pumps Industry Overview
The Global ATEX Pumps market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Grundfos, Xylem, Sulzer, Flowserve, KSB, Wilo, Ebara, AXFlow, Kirloskar Brother Limited, Cat Pumps.
Global ATEX Pumps Market Report Coverage
Report Attribute | Details |
Base year | 2023 |
Forecast period | 2024-2032 |
Growth momentum | Accelerate at a CAGR of 6.14% |
Market size 2023 | USD 7,255 million |
Regional analysis | North America, Europe, Asia-pacific, Rest of the World |
Major countries | The US, Canada, The UK, France, Germany, Italy, Spain, China, Japan, India |
Companies profiled | Grundfos, Xylem, Sulzer, Flowserve, KSB, Wilo, Ebara, AXFlow, Kirloskar Brother Limited, Cat Pumps. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Type of Pump and By Material of Construction, By Region/Country |
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The Global ATEX Pumps market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Global ATEX Pumps Market Analysis (2024-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the Global ATEX Pumps market were the three major steps undertaken to create and analyze the adoption of Global ATEX Pumps in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the Global ATEX Pumps market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Global ATEX Pumps market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Global ATEX Pumps market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as By Type of Pump and By Material of Construction. Further regional/country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Global ATEX Pumps market. Further, we conducted factor analysis using dependent and independent variables such as By Type of Pump and By Material of Construction in the Global ATEX Pumps market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Global ATEX Pumps market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global ATEX Pumps market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors, including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach, were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Global ATEX Pumps market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Global ATEX Pumps market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Global ATEX Pumps market. Data was split into several segments and sub-segments after studying various parameters and trends By Type of Pump and By Material of Construction in the Global ATEX Pumps market.
The main objective of the Global ATEX Pumps Market Study
The current & future market trends of the Global ATEX Pumps market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Global ATEX Pumps market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas By Type of Pump and By Material of Construction.
- Define and analyze the regulatory framework for global ATEX Pumps industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Global ATEX Pumps market for the major regions.
- Major countries of regions studied in the report include North America (The US, Canada, and Rest of North America), Europe (The UK, France, Germany, Italy, Spain, Rest of Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World
- Company profiles of the Global ATEX Pumps market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry.
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the Global ATEX Pumps market?
The Global ATEX Pumps market was valued at USD 7,255 Million in 2023 and is expected to grow at a CAGR of 6.14% during the forecast period (2024-2032).
Q2: What is the driving factor for the growth of the Global ATEX Pumps market?
Rising Global demand for stringent safety regulations is one of the key driving factor for growth.
Q3: Which segment has the largest share of the Global ATEX Pumps market by Type of Pumps?
Centrifugal Pumps has the largest share of the Global ATEX Pumps market by Type of Pumps.
Q4: Which region will dominate the Global ATEX Pumps market?
Europe is expected to dominate the market during the forecast period.
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