Pumps Market Analysis
Pump is a mechanical device which is required to move fluids and compress gases inside pipeline or hose. They are used to produce pressure by the creation of a suction (partial vacuum) which causes the fluid to rise to a higher altitude. There are two main type of pumps, namely, positive displacement and dynamic. Pumps are mainly used for pumping water in the industrial and residential applications. They are also majorly used in agriculture sector, power generation plants, municipal water and wastewater plants, and chemical industries, among others. The global pumps market is estimated to expand at 4.70% CAGR during the forecast period.
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The growing demand for pumps market is attributed to the rising investments in water & wastewater industry, growing infrastructure development across the globe, and rising demand for water conservation globally. Countries such as China, India, US, Germany, and Middle Eastern countries are focusing on investment in water and wastewater treatment plants in order to improve the efficiency of water intensive industries such as paper & pulp, oil & gas, power, and chemicals. For instance, currently, United Arab Emirates is spending USD 15 billion on wastewater treatments plants. One of the major restraints for the global pumps market is slowdown in exploration activities.
The pumps market has been segmented based on type into positive displacement and dynamic. Positive displacement segment held the largest market share of the global pumps market. These pumps will move the fluid at same speed regardless of the pressure on the inlet end i.e. they have ability to produce a consistent flow rate. Moreover, these pumps can handle a variety of fluid types: shear sensitive fluids; high, low and variable viscosity; solids; and liquids with a high percentage of air or gas entrainment. All these factors have resulted in higher share of positive displacement pumps. Dynamic is the fastest growing segment in the global pumps market and is majorly used in water & wastewater treatment plants.
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The regional analysis of the pump market globally comprises of regions such as Europe, Asia Pacific, South America, North America, Middle East, and Africa. The global market for pumps is anticipated to observe extensive growth throughout the forecast period due to rising investments in water & wastewater management sector. The infrastructure for water & wastewater treatment plants globally has led to the development of digital oil fields that will provide the opportunity for the global pumps market. An important condition for the digital oilfield consists of precision and efficient control of flow from the wells and oilfields. Therefore, the pump systems demand is anticipated to rise considerably in the coming years.
The key players of the global pumps market are Xylem (US), Grundfos (Denmark), Flowserve (US), KSB (Germany), Circor International (US), Sulzer (Switzerland), ITT Corporation (US), Wilo (Germany), Ebara Corporation (Japan), Pentair (US), Someflu (France), Baker Hughes, A GE Company (US), and Weir (UK).
Scope of the Report
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global pumps market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis
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