Pumps Market 2019 Is Booming Worldwide – Industry Segmented by Size, Share, Trends, Leading Players, Growth, Demand and Forecast To 2023
Aug 13, 2019
Market Research Future recent report on the global pumps market consists of meaningful insights which are derived through a thorough analysis of pertinent factors impacting the market. MRFR's analysis projects a CAGR of 4.70% in the pumps market over the forecast period of 2018-2023.
Pune, India - August 13, 2019 /MarketersMedia/ —
Pumps Market Overview
Reports that evaluate the energy and power industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is predicted to develop with a 4.70 % CAGR in the forecast period. Pump refers to a mechanical device which moves liquids or compressed gases through suction or pressure. They are extensively used across diverse industry verticals for a myriad of applications.
The demand for pumps is likely to increase on a global scale in developed nations, a favorable environment for fixed investment spending is prompting manufacturers to invest in up gradation of capabilities. In the developing countries, the pumps market is growing due to heightened investment in water infrastructure to facilitate access to drinking water and sanitation. Moreover, in the developed countries, aging water infrastructure provides modest growth opportunities for the pumps market.
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Pumps are basically classified into two categories, namely, positive displacement and dynamic pumps. Positive displacement pumps are further classified intro two types, namely, reciprocating and rotary. Dynamic pumps are of two type, namely, centrifugal and special effect pumps. Centrifugal pumps are used to transport liquid with large volume and substantial pressure head and are largely utilized for water, wastewater, and industrial liquid transportation in the power, steel, and domestic sectors.
The development of the municipal sector has considerably increased the demand for pumps globally. The intensifying demand for industrial liquid transportation in the steel, power, and domestic sectors is expected to inspire the pumps market further globally. The increase in the level of areas that are irrigated has improved primarily due to the implementation of pumps to transport water to larger areas of land. The market for pumps globally is expected to be encouraged by increasing urbanization and innovations in the market.
Segmental Analysis
The segmentation of the pumps market globally is carried out on the basis of type, end-user, and region.
On the basis of type, the pumps market is segmented into dynamic and positive displacement.
The segmentation of the pumps market on the basis of end-user comprises of power generation, chemicals, water & wastewater, pharmaceutical, oil & gas, food & beverage, and others.
The regions included in the pump market globally are South America, Europe, Asia Pacific, North America, Middle East, and Africa
Regional Analysis
Region-wise, the pumps market has been segmented into North America, South America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
In 2017, the largest share of the market was held by APAC. The pumps market is flourishing in the region due to rapid infrastructural activities in the region, which generates high demand for pumps. Additionally, rising urbanization in the region has raised the demand for useable water, which has consequently driven the waste water treatment industry, a primary end user of the pumps market. Moreover, growing scarcity of water has increased the level of awareness regarding sustainable water systems. Moreover, supportive government plans and growing demand from the construction industry is substantiating the growth of the market in the region. The APAC market is anticipated to be the fastest-growing market for pumps.
Competitive Landscape
Ingersoll-Rand (Ireland), ITT Corporation (US), The Weir Group (UK), Danfoss (Denmark), Wilo AG (Germany), Grundfos (Denmark), KSB (Germany), Sulzer (Switzerland), Flowserve (US), Nikkiso Co Ltd (Japan), Ebara Corp (Japan), Roper Industries (US), and Schlumberger (US) are the key players in the pumps market.
Industry Updates:
Mar 2019 Bungartz recently demonstrated functional models from its self-regulating centrifugal V-AN range. The model used for the demonstration had been running at a large international chemical company for nearly ten years.
Mar 2019 KNF has recently presented its next-generation diaphragm pump, the FP 400. The product is intended for recirculation uses in a varied set of markets. The pump merges the traditional returns of diaphragm pump technology with a pulsation level akin to gear pumps. The pulsations for the new FP are less than 150mbar.
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Source: MarketersMedia
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