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The Worldwide Fish Pumps Industry is Projected to Reach $186 Million by 2027: Increasing Health Consciousness and Environmental Awareness Drives Growth
Global Fish Pumps Market
Dublin, Dec. 30, 2022 (GLOBE NEWSWIRE) -- The "Global Fish Pumps Market by Size (2.5" Pumps, 4" Pumps, 6" Pumps, 8" Pumps, 10" Pumps, 12" Pumps, and 14" Pumps), Application (Aquaculture and Fishing), Mode of Operation (Manual and Automatic) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global fish pumps market size is estimated to be valued at USD 129 million in 2022 and is projected to reach USD 186 million by 2027, recording a CAGR of 7.6% in terms of value.
By pump size, 2.5 pumps are projected to grow rapidly during the forecast period.
These pumps are used to transport small pieces of seafood. These pumps are lightweight and perfect for hatcheries. Hatcheries are facilities that breed and raise aquaculture products for at least part of their life cycle. Commercial aquacultures grow-out farms, aquarium trade, and fish stocking programs rely on aquaculture hatcheries for seed stock. FAIVRE (France), for example, can handle fish weighing up to 40g. The pumps are light and easy to use.
Global food demand has increased exponentially due to rising population, economic well-being, and rapid urbanization. Fish, which is an essential part of people's diets all over the world, is critical to future food security. It is also an important nutrient source for people in developing countries. Aquaculture has contributed to increased fish production and has emerged as the best alternative food source for many. As a result, the importance of 2.5" pumps increases.
By application, aquaculture to account for the largest share.
Aquaculture is considered the best alternative to industrial fishing and is expected to fulfill the global seafood supply. However, sustainability is a major challenge for the industry.
Some of the industry's sustainability challenges include supplying sustainably sourced food for fish farms, habitat destruction, and using valuable freshwater for aquaculture. With increased aquaculture, applications such as hatcheries are expected to grow.
The established aquaculture industry creates demand for advanced equipment that increases operation efficiency and can deal with the large volume of fish. This will ultimately lead to increased demand for smart pump that can handle fish transfer operations smoothly with seafood loss.
The Asia Pacific market is being driven by an increase in demand for fish by an expanding middle class
The Asia Pacific region is mostly segmented into India, China, Japan, and Rest of Asia pacific. The market for fish pumps is growing due to increased demand for fish and seafood by expanding middle class in countries like China, India, and Indonesia.
China's aquaculture industry has grown rapidly in recent decades, and the country has been the world's leading producer since the 1990s. With government assistance, the country is working to expand and sustain its aquaculture. The country has favorable conditions with the growing feed and livestock industry, with the demand for meat, milk, and egg consumption significantly increasing in recent years.
This rise in awareness has contributed to the increased usage of fish in livestock feed applications. This will boost the demand for small to medium fish pumps dealing with fish used in animal feed. The increase in demand for seafood, associated products and the increased focus on increasing production via aquaculture will further increase the demand for fish pumps in the country.
Report Attribute | Details |
No. of Pages | 200 |
Forecast Period | 2022 - 2027 |
Estimated Market Value (USD) in 2022 | $129 Million |
Forecasted Market Value (USD) by 2027 | $186 Million |
Compound Annual Growth Rate | 7.6% |
Regions Covered | Global |
Market Dynamics
Drivers
Rising Aquaculture Industry
Increasing Health Consciousness and Environmental Awareness
Restraints
Cavitation Effect on Industrial Pumps
Opportunity
Demand for Advanced Machinery with High Productivity and Efficiency
Growth in Demand for Convenience Food Products
Increasing Awareness and Incorporation of Fishmeal in Animal Diets
Challenges
Increase in Consumer Appetite for Vegan Diets
Companies Mentioned
Acuinuga
Bosman Watermanagement Bv
Elimat Sl
Euskan
Faivre
Hidrostal
Inventive Marine Products Limited
Iras A/S
Karmoy Winch As
Kjaergaard Maskinfabrik As
Magic Valley Heli-Arc, Mfg., Inc
Maskinfabrikken Apollo A/S
Merck & Co., Inc.
Milanese
Mjos Metallvarefabrikk As
Mmc First Process As
Pentair
Pg Flow Solutions As
Rodelta
Samson Pumps
Seaquest Systems
Skaginn 3X
Skala Maskon
Smir As
Th Company
For more information about this report visit https://www.researchandmarkets.com/r/tz88l8
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