Growth drivers such as the increasing usage of metering pumps in the oil and gas sector and rising government regulations regarding water treatment are expected to propel the metering pump market at a CAGR of 3.9% during the forecast period (2020–2030). The market was valued at $4.4 billion in 2019, and it is projected to reach a revenue of $6.8 billion by 2030. Moreover, the expanding chemical industry will also drive the growth of this market in the foreseeable future.

The surging use of metering pumps in the oil and gas sector in the extraction of natural gas and oil and the dosing of corrosion inhibitors in midstream processes will drive the metering pump market growth in the coming years. The increasing production of crude oil in Iraq, the U.S., Russia, and Saudi Arabia will drive the demand for metering pumps in the foreseeable future. For instance, according to the U.S. Energy Information Administration (EIA), in 2019, the country had 367 million barrels of proved crude oil reserves.

Moreover, the rising government regulations regarding water treatment will also fuel the metering pump market growth during the forecast period. Metering pumps are utilized in water treatment plants to feed chemical additives to the contaminated water, to remove slurry, pollutants, and harmful microorganisms from it. For example, in 2018, the U.S. government amended the Water Infrastructure Act (AWIA). This act authorizes the Environmental Protection Agency (EPA) to decide minimum requirements for protecting drinking water from pollution and makes it mandatory for all surface water system owners or operators to adhere to health-related needs.

In addition, the growing chemical industry will also supplement the metering pump market growth in the foreseeable future. The advantages of metering pumps such as high energy efficiency, excellent resistance to corrosive chemicals, long service life, and low maintenance costs have resulted in the widescale adoption of these devices in chemical manufacturing facilities. The expansion of the chemical sector in China, the U.S., and Europe is positively impacting the market growth.

Depending on type, the metering pump market is divided into diaphragm and piston. Of these, the diaphragm category witnessed the faster growth till 2019, and this trend is expected to continue throughout the forecast period. This can be attributed to the ability of diaphragms to handle flammable, corrosive, and abrasive liquids and pump highly viscous liquids. Moreover, the energy efficiency and low operational costs of diaphragm pumps also contribute to the growth of this category. On account of these factors, the category is also expected to hold the larger market share during the forecast period.

According to P&S Intelligence, Asia-Pacific (APAC) accounted for the largest share in the metering pump market during the historical period (2014–2019). In the regional market, India and China held the prominent share due to the burgeoning demand for freshwater, owing to the booming population and expanding manufacturing sector in these countries. Moreover, the region is also expected to witness the fastest growth during the forecast period, due to the establishment of new manufacturing units in the chemical processing, oil and gas, and pharmaceutical sectors.

Thus, the flourishing chemical industry, rising government regulations regarding water treatment, and burgeoning demand for metering pumps in the oil and gas industry will propel the market growth in the coming years.