In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Pump Market Report. The global pump market by revenue is expected to grow at a CAGR of close to 5% during the period 2019–2025.
New York, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pump Market - Global Outlook and Forecast 2020-2025" - https://www.reportlinker.com/p05986834/?utm_source=GNW
The industry is expected to witness truncated growth on account of the outbreak of the COVID-19 pandemic. The pump sale in the APAC region is expected to have steady growth, with the increasing expenditure on infrastructural development projects and investment is likely to aid market growth. Several Asia Pacific countries, including China and India, are expected to witness remarkable gains with expansion in agriculture, industrial, and building services sectors during the forecast period. In 2019, the US was the third-largest market owing to its strong process manufacturing firms, wastewater treatment plants, and the well-established oil and gas industries. Although growth modalities in major industries such as oil & gas, maritime, pulp & paper, and metals and mining have temporarily suppressed in 2020 on account of the pandemic, the demand for freshwater supplies and sanitation is expected to influence the market in developing countries.
The following factors are likely to contribute to the growth of the pump market during the forecast period:
• Increasing Demand for Water and Wastewater Treatment Plants
• Improving Living Standards in Developing Countries
• Growing Merger and Acquisition Activities
The study considers the present scenario of the pump market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Pump Market Segmentation
The global pump market research report includes a detailed segmentation by product type, end-user, geography. The global centrifugal pump market is expected to reach over $56 billion by 2025. Although the product centrifugal devices are experiencing increased applications across end-user sectors, they are particularly useful for low viscosity and thin materials such as liquids or wastewater. They have a high demand in China, India, Vietnam, and other Asian countries in the power plants sector. High demand from the water and wastewater industry in North America and APAC is expected to augur well for the growth of the centrifugal segment. Single Stage, Multistage, Submersible, and Turbine are the major revenue contributors to the centrifugal market.
The demand for the pump is expected from end-user industries such as oil and gas, water and wastewater, chemicals and petrochemicals, and the mining industry. The recovery in crude oil prices and the increasing volume of onshore and offshore fields, including development, evaluation, and construction activities of the fields will lead to an expansion in the oil & gas sector. The expansion is expected to contribute to the development of deep-water offshore enterprises, for deeper offshore areas, thereby increasing demand for centrifugal, particularly submersible pump.
• Single Stage
• Oil & Gas
• Water & Wastewater
• Food & Beverage
• Public Utilities
INSIGHTS BY GEOGRAPHY
Improving economic conditions in the APAC region are projected to generate enormous opportunities for pump manufacturers. In developing countries, high competition from low-cost suppliers and the extreme impact of the recent recession are major barriers to the pumping industry development in the region. The Chinese pump market is expected to grow at a healthy rate during the forecast period owing to several developments in the country. The demand has been growing as several markets grow in the country with higher investment. The rising demand for aerosol products has increased the demand for pumps in Japan. The pump market in India is highly fragmented and competitive with a large number of small and medium-sized companies aiming to increase the market share. Madhya Pradesh, Maharashtra, Tamil Nadu, Karnataka, and Andhra Pradesh are the major markets of agricultural pumping systems in India.
• North America
o South Korea
• Latin America
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o Rest of Middle East & Africa
INSIGHTS BY VENDORS
The global pump market is highly competitive, and the major key competitive factors are differentiating product line along with efficiency, product reliability, service capabilities, and cost-efficiency. Vendors are actively investing in R&D to develop fundamental technology to establish competitiveness. They are differentiating themselves by enhancing product development, focusing on aftersales services, and increased operational efficiency. A high level of competitive capability through technological upgrades, particularly in the area of energy efficiency and digitalization, is expected to boost the competition in the market.
• Alfa Laval
• Baker Hughes
• Desmi A/S
• Franklin Electric
• Kirloskar Brothers
• SPX Flow
Other Prominent Vendors
• AR North America
• Bosch Rexroth
• CP Pumpen AG
• Global Pump
• Haight Pumps
• IDEX Corp
• Iwaki America
• Klaus Union
• Leitritz Group
• Naniwa Pump
• Roper Pumps
• Summit Pump
Key Questions Answered:
1. What is the pump market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the pump market share?
3. What is the growth of the Asia pump market share during the forecast period?
4. Who are the leading vendors in the pump market?
Read the full report: https://www.reportlinker.com/p05986834/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001