Transparency Market Research has released a new market report titled “Water Pump (Pump Type – Centrifugal Pump, Reciprocating Pump, Rotary Pump & Others, End use – Oil & Gas and Refining, Chemical, Power Generation, Water & Wastewater, and General Industry) Market– Global Industry Analysis, Size, Share, Growth, Trends, and.” According to the report, the global Water Pump market was valued at US$ 43,599 Mn in 2016 and is projected to reach US$ 66,852 Mn by 2025, expanding at a CAGR of 4.9% between 2017 and 2025.
Water Pump is the mechanical device designed to increase the pressure of various fluids during transportation in diverse industries and are highly preferred for agricultural and domestic purposes. Different kinds of pumps are available in market for diverse application such as centrifugal, reciprocating, rotary and others. Depending upon the requirement, these pumps are used in varying capacities.
By region, the global water pumps market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The Asia Pacific region dominated the demand for water pumps in terms of revenue accounting for 42.9% of the market share in 2016 and is expected to grow at a promising CAGR of 5.8% during the forecast period. Developing countries in Asia Pacific such as China and India is expected to provide pockets of growth for the Water Pump market. China’s water pump market is indisputably massive accounting for more than 60% of the market share in Asia Pacific in 2016. Along with this, accelerated urbanization and infrastructure investment are the initiatives taken by Chinese government to move 250 million rural residents into newly constructed towns and cities over the next decade which are expected to lure the demand for water pumps in foreseeable future. The cost efficient, low diesel consuming pumps made by Chinese small scale suppliers are widely used across the world especially in areas like Australia, Southeast Asia, India and Eastern Europe, however, this factor may act as a deterrent for the global players. Water and wastewater end user water pump demand, investment in modernizing water and wastewater infrastructure are factors, and general industry growth attributed to the growing agriculture, paper and pulp, food & beverage and pharmaceutical industry are key factors expected to stimulate the demand for water pumps in Asia Pacific region. North America and Europe are mature markets for water pump and both are expected to grow at a steady pace in foreseeable future.
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Key players profiled in the Water Pump market include Flowserve Corporation, Wilo SE, ITT Pumps, Sulzer, KSB Inc., Wilo SE, Danfoss A/S, Colfax Corporation, Weir Group PLC., Ebara Corporation, Xylem Inc., and Alfa Laval. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.