Market Trends of Latin America Positive Displacement Pumps Industry
This section covers the major market trends shaping the Latin America Positive Displacement Pumps Market according to our research experts:
Oil and Gas Industry drives Positive Displacement Pumps Market
- As one of the largest end-user, the oil and gas industry drives positive displacement pump sales. Following a devastating drop in the region's economy as a result of the COVID-19 outbreak, reforms in each country's legal frameworks and regulations are critical to reviving pump sales. Positive displacement pump manufacturers have an appealing market outlook due to regional attention to the development of oil and gas resources as well as the general requirement for basic chemicals.
- Moreover, positive displacement pumps are widely used in the oil and gas industries of nations such as Venezuela, Brazil, and Mexico. These pumps are utilized for both exploratory and refining purposes. Furthermore, investments in the oil and gas sector, such as shale gas exploration and liquefied natural gas, are likely to drive demand for positive displacement pumps in Latin American regions.
- Further, mining activity in Latin American countries such as Peru and Chile has increased the demand for positive displacement pumps, particularly for the repair and maintenance of existing pumps. Chile and Peru are likely to present a combined opportunity for capital expenditure. As a result, these factors are likely to promote market growth throughout the forecast period.
- Despite the slowing trend in material price supply and demand, the oil and gas industry is likely to have enormous demand for positive displacement pumps over the projection period. This is due to ongoing investments in shale gas around the world. The increasing emphasis on establishing micro-liquefied natural gas terminals, which has resulted in reduced investment value for oil producers, has resulted in rising demand for positive displacement pumps.
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Brazil is the Most Lucrative Country in the Latin America Positive Displacement Pump Market
- Brazil is the leading revenue-producing nation in the Latin American positive displacement pump market because of an increase in businesses that has decreased the amount of potable water and increased groundwater contamination. Additionally, the use of positive displacement pumps has expanded as a result of low disposable water levels and groundwater adulteration, which would accelerate market expansion even more.
- According to World Integrated Trade Solution, in Latin America, positive displacement pump exports from Brazil were primarily destined for Bolivia, Chile, and Paraguay. Following these countries are the United States, Argentina, and Germany. The US and Germany recorded the most noticeable rates of growth in terms of shipments among the major destination nations, while the other leaders experienced more modest rates of growth.
- Netzsch Pumps & Systems, Brazil, delivered its millionth pump from its subsidiary in Exton, USA, in June 2020. The pump was created at the company's headquarters in Waldkraiburg, Germany, and is a Nemo progressive cavity pump for high-density solids. The components were designed and constructed in the Netzsch facility in Brazil, and the pump was then assembled, tested, and transported to the United States.
- Additionally, according to Indexbox, Brazil saw a rise in foreign imports of positive displacement pumps and hand pumps in 2020. Imports increased dramatically during this time period. The rate of growth was fastest in 2009, when imports rose. Imports peaked in 2020 and are expected to grow steadily in the short term.
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