Water Pumps Market Size and Growth Rate:
The global
water pump market was estimated at 45.25 Billion in 2017 and is expected to
generate approximately 67.05 million dollars in 2024 with a CAGR of 5.4%
between 2018 and 2024.
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Water Pumps Market Overview:
The pumps of water are the oldest and the most
used in various applications. Water pumps are a variety of products designed,
constructed and standardized as essential auxiliary equipment.
As the
need for wastewater treatment increases in the industrial sector, demand for
water pumps will increase in the coming years. It is expected that the future development
of rapid infrastructure in emerging countries will have a positive impact on
the market for water pumps. In addition, the development of the industrial
sector, particularly of the energy and agricultural sectors, has greatly
increased demand for water resources. It is expected that the growth of the oil
and refining sector will make an important contribution to the market for water
pumps. It is also expected that the demand for water pumps will increase as the
dependence of groundwater from irrigation and other agricultural activities
increases rather than that of monsoons in developing countries.
However,
some factors limit the market for water pumps, including the extension of
threats to unstructured sectors, particularly agriculture. Poor farmers in
developing countries prefer low cost water pumps and have a significant price
and not recognized brands. It is expected that the need to use potable water to
maintain a healthy and disease-free lifestyle, the construction of the water
recycling industry and the growing demand for solar pumps will generate
important opportunities for the industry.
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Water Pumps Market Geographical Segmentation:
Asia
Pacific was the dominant region that represented most of the market share in
2016 in terms of local demand. The Asia Pacific water pumpsmarket will have an
important traction during the forecast period, especially as infrastructure
development activities in emerging economies such as China increase. The region
is also prepared to register an average of 5.8% during the forecast period. The
US market is expected to grow steadily in the coming years, as the grinding
activity in the region has increased considerably. It is expected that the US
market will reach a CAGR of 4.5% during the evaluation period.
Keyplayers of the Water Pumps
Market:
Some of
the leading companies in the water pumpsmarket are Ebara Corporation, Flowserve
Corporation, Sulzer Ltd., KSB Aktiengesellschaft, Gardner Denver, Inc., ITT
Corporation and Torishima Pump, Grundfos Holding A/S, Kirloskar Brothers
Limited, Co I Weir PLC Gardner Denver
Group, General Electric Corporation, Pl. Weir, Weatherford International Ltd,
ITT Inc., PROCON Products, KSB Group, Kirloskar Brothers Limited and Sulzer
Ltd.
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