The key players operating in the Sanitary Pumps and Valves Market are sanitary pumps and valves market size is expected to grow from USD 2.1 billion in 2023 to USD 2.5 billion by 2028, at a CAGR of 3.6% from 2023 to 2028. Sanitary pumps and valves equipped with IIoT offer benefits such as massive cost savings, faster process recovery after maintenance breaks, increased safety, reduced occurrences of errors and quality deviations, valuable analytics, and prevention of unplanned downtime to plant owners. , Market Dynamics , DRIVERS: Increasing focus on automation for higher efficiency and safety to drive the market growth , Automation has been playing a critical role in industries. Manufacturers are shifting their focus toward automation to maintain plant safety, increase operational efficiency, standardize production processes, and achieve lean manufacturing. Automation helps enterprises reduce work, waste, labor, and production costs; minimize downtime and inaccuracies; increase the process quality; and reduce the processing time. Implementing fluid handling systems like pumps and valves is a game-changer for process industries. Industries such as food, beverages, pharmaceuticals, and chemicals implement fluid handling systems in their plants for the smooth transportation of raw materials and the transport of various fluids or gases as a part of the production processes. Sanitary valves and pumps are among the major components used in fluid handling systems to ensure automation. Thus, the increased focus on plant automation drives the demand for sanitary pumps and valves. , RESTRAINTS: High price fluctuations in raw materials , For their manufacturing, the sanitary pumps and valves need odorless, noncorrosive, and nontoxic materials, such as 304L or 316L stainless steel. The price of these stainless-steel variants depends on the alloying element's price and the alloy's amount. The raw material cost fluctuates, affecting the production cost of sanitary pumps and valves. The highly varying raw material costs also lead to ineffective price management and fluctuations in profit margins. This variation in end-product prices also affects the sales of sanitary valves and pumps. , OPPORTUNITIES: Increasing IIoT adoption across process industries , Hygienic pumps and valves equipped with sensors and connected through IIoT could help industry players reduce maintenance and shutdown costs. Traditional retrofitting monitoring solutions are costly, and manually monitoring thousands of different types of hygienic pumps and valves is time-consuming. Remote pump and valve monitoring include several components, and it detects valve position with a retrofit sensor device mounted on the equipment. With a remote monitoring solution integrated into a manufacturing plant, all valves in a factory can be monitored in real-time. Hygienic pumps and valves equipped with IIoT offer benefits such as massive cost savings, faster process recovery after maintenance breaks, increased safety, reduced occurrences of errors and quality deviations, valuable analytics, and prevention of unplanned downtime to plant owners. , CHALLENGES: Growing competition from local players and gray market players , The sanitary pumps and valves industry is highly fragmented. The number of players in this market is very high. These players provide their offerings worldwide with a robust and widespread network of suppliers and distributors. The manufacturers and distributors operating at the international level have to deal with transportation costs, pricing discrimination, tariffs, sales tax, and other additional prices such as customs duty and shipping charges on their commodities and services. Along with these industrial manufacturers and distributors, this industry's ecosystem also consists of many local players and gray market players. The gray market players are known for buying products from low-price countries or regions and selling them to high-price countries or regions through distribution channels not authorized by the original manufacturer or trademark proprietor. With the increasing competition, the well-established players in this market face challenges, especially in developing regions such as Asia Pacific and South America. , Non-self-priming segment is expected to hold the largest share during the forecast period. , Non-self-priming pumps need to be primed externally, requiring the start-up liquid to be added to the pump before initiating operation. They can be primed by considering layout arrangements or using some external arrangements. A few of the priming methods include natural priming, manual priming, priming a pump with a vacuum pump, priming a pump with a jet pump, priming a pump using a separator, priming a pump by installing a foot valve and priming a pump with an ejector. They need additional components and arrangements to carry out the priming process for this external priming. This process increases the unnecessary expenses and the time incurred in the pump operations. However, non-self-priming pumps being the oldest and most compact due to no additional priming components added to the system, still make them the largest shareholders in the market. , The nonalcoholic beverage industry is projected to grow at an impressive CAGR during the forecast period , Globally, the demand for nonalcoholic beverages, such as soft drinks, tea, coffee, cider, juices, etc., continues to increase in developed and developing countries. Consumers are moving toward a healthier lifestyle and thus prefer soft and energy drinks to keep themselves hydrated throughout the day. Besides, the increased consumer attention to health and sustainability leads to the development of high-quality beverages. These beverages demand high safety and hygiene during production to eliminate contamination. The output of nonalcoholic drinks requires maintaining desired end-product characteristics through safe, cost-effective, and sustainable multi-stage processing. Thus, sanitary pumps and valves are designed to effectively and safely control or regulate the flow and transport of fluids in a pipeline. Using hygienic equipment ensures reliable production and efficient clean-in-place of the production lines. The producers of nonalcoholic beverages need to comply with stringent regulatory standards. Thus, the nonalcoholic beverages industry's adoption of sanitary pumps and valves is increasing. , The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028. , The sanitary pumps and valves market in the Asia Pacific has been further classified into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Japan is one of the world's most advanced economies and witnesses a high demand for sanitary pumps and valves from various process industries. The growing processed food, chemicals, and pharmaceutical industries, which are the major contributors to the economy of Japan, are expected to boost the growth of the sanitary pumps and valves market during the forecast period. The country largely depends on imports for its food-related needs. The US is a reliable supplier of high-quality and safe processed food to Japan. The popularity and consumption of health-oriented products and frozen foods have increased during the past two decades. The growing demand for ready-to-eat and convenient food options is also responsible for the growth of the processed food industry in the country. These factors have increased the adoption of sanitary pumps and valves in the processed food industry. , Recent Developments , In December 2022, Graco Inc. announced the release of the electric-operated double diaphragm pump, QUANTM. The QUANTM pump of the company is suitable for nearly any fluid transfer application. It offers a variety of materials of construction to support multiple industrial and hygienic applications such as chemical processing, food and beverage, pharmaceutical, and more. , In May 2022, IDEX Corporation announced the acquisition of KZValve, LLC. The acquisition will help the company to expand precision farming components such as waterproof motorized valves, manifolds, controllers, and other accessories. , In December 2020, Dover Corporation announced the launch of Blackmer System One High-Temperature Series Centrifugal Pumps. These pumps are mainly designed to increase the temperature limits for Blackmer Frame A and Frame M centrifugal pumps. , KEY MARKET SEGMENTS , By Pump Type: , Centrifugal Pumps , Positive Displacement Pumps , Rotary Lobe Pumps , Progressive Cavity Pumps , Peristaltic Pumps , Diaphragm Pumps , Eccentric Disc Pumps , Twin Screw Pumps , Others , By Valve Type: , Single-seat Valves , Double-seat Valves , Butterfly Valves , Diaphragm Valves , Control Valves , Other Valves , By Priming Type: , Self-priming , Non-self-priming , By Hygiene Class: , Standard , Aseptic , Ultraclean , By Pump Power Source: , Electric , Air , By Material Type: , Stainless Steel , Copper , Bronze , By End-user Industry: , Processed Food , Dairy , Alcoholic Beverage , Nonalcoholic Beverage , Pharmaceutical , Other End-User Industries , By Region , North America , US , Canada , Mexico , Europe , Germany , UK , France , Italy , Benelux , Rest of Europe , Asia Pacific , China , Japan , India , South Korea , Australia , Rest of Asia Pacific , Rest of the World , Middle East & Africa , South America, KEY MARKET PLAYERS , Alfa Laval , Fristam Pumpen KG (GmbH & Co.) , GEA Group Aktiengesellschaft , SPX FLOW, Inc. , Dover Corporation , Evoguard GmbH , Verder International B.V. , IDEX Corporation.
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