Pumps Market Scenario
Market Research Future
(MRFR's) recent report on the global pumps market consists of meaningful
insights which are derived through a thorough analysis of pertinent factors
impacting the market. MRFR's analysis projects a CAGR of 4.70% in the pumps
market over the forecast period of 2018-2023.
The demand for pumps is
likely to increase on a global scale in developed nations, a favorable
environment for fixed investment spending is prompting manufacturers to invest
in up gradation of capabilities. In the developing countries, the Pumps Market is
growing due to heightened investment in water infrastructure to facilitate
access to drinking water and sanitation. Moreover, in the developed countries,
aging water infrastructure provides modest growth opportunities for the pumps
market.
Accelerated oil
production has also provided favorable opportunities for the growth of the
market. Mining industry too generates a considerable amount of the demand for
pumps. Moreover, with the rise in disposable income in emerging economies, the
global pumps market is likely to benefit from increased spending on goods such
as fuel, chemicals, and food & beverage.
Positive displacement pumps have witnessed high demand in recent years
due to the expansion of process manufacturing activities. Other factors
substantiating the market growth include demand for pumps from the aftermarket
segment. Rising manufacturing activity in harsh environments such as those in
the chemical industry can also be credited for the growth of the pumps market.
Other substantiating the growth of the market includes growing urbanization in
emerging economies, infrastructure developments across the globe, and rising
demand from the construction industry. The governments in multiple countries
have enacted regulations for sustainable water systems which induce demand for
pumps.
Segmentation
The global Pumps
market report has been segmented on the basis of type and end-user.
By type, the pumps market
has been segmented into positive displacement and dynamic pumps. The dynamic
pump segment is leading the market on account of its widespread application in
water and wastewater treatment plants.
By end-user, the pumps
market has been segmented into oil & gas, water & wastewater, power
generation, chemicals, pharmaceutical, food beverage, and others. The water
& wastewater segment is anticipated to capture the highest CAGR over the
forecast period. Growing awareness regarding the reuse of water across the
globe. Moreover, the industrial sector consumes massive volumes of water due to
which waste water treatment becomes necessary.
Regional
Analysis
Region-wise, the pumps
market has been segmented into North America, South America, the Middle East
& Africa (MEA), Europe, and Asia Pacific (APAC).
In 2017, the largest
share of the market was held by APAC. The pumps market is flourishing in the
region due to rapid infrastructural activities in the region, which generates
high demand for pumps. Additionally, rising urbanization in the region has
raised the demand for useable water, which has consequently driven the waste
water treatment industry, a primary end user of the pumps market. Moreover,
growing scarcity of water has increased the level of awareness regarding
sustainable water systems. Moreover, supportive government plans and growing
demand from the construction industry is substantiating the growth of the
market in the region. The APAC market is anticipated to be the fastest-growing
market for pumps.
Competitive
Landscape
Ingersoll-Rand (Ireland),
ITT Corporation (US), The Weir Group (UK), Danfoss (Denmark), Wilo AG
(Germany), Grundfos (Denmark), KSB (Germany), Sulzer (Switzerland), Flowserve
(US), Nikkiso Co Ltd (Japan), Ebara Corp (Japan), Roper Industries (US), and
Schlumberger (US) are the key players in the pumps market.
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