The U.S. Energy Information Administration (EIA) states that on an average, every day in 2020, 94.2 million barrels of crude oil were produced. As per the EIA, the U.S., Saudi Arabia, Russia, Canada, China, Iraq, Brazil, the U.A.E., Iran, and Kuwait are the top ten producers of oil across the world. Oil wells are using metering pumps in the extraction of oil and natural gas and dosing of corrosion inhibitors in midstream processes.

Thus, the increasing production of crude oil is creating a huge requirement for metering pumps, globally. Additionally, the toughening water treatment regulations by governments will also drive the metering pump market at a CAGR of 3.9% during the forecast years (2020–2030). The market was valued at $4.4 billion in 2019 and it is projected to generate $6.8 billion revenue by 2030.

Water treatment plants use such pumps to eliminate slurry, harmful microorganisms, and pollutants and feed chemical additives from wastewater. For instance, the U.S. government amended the Water Infrastructure Act (AWIA) in 2018 to focus on quality of each drop of water that is theoretically intended for drinking. The type segment of the metering pump market is classified into diaphragm, piston, and others, such as syringe pumps and peristaltic pumps.

Under this segment, the diaphragm category is projected to exhibit the fastest growth throughout the forecast period. This can be ascribed to the ability of diaphragm metering pump to handle corrosive, flammable, abrasive liquids, and high viscosity liquids. Additionally, the higher energy efficiency offered by such pump, as compared to other types, also catalyzes the growth of the market in this category.

This market research report provides a comprehensive overview of the market

* The Future potential of the market through its forecast for the period 2020– 2030
* Major factors driving the market and their impact during the short, medium, and long terms
* Market restraints and their impact during the short, medium, and long terms
* Recent trends and evolving opportunities for the market participants
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings