“The Asia Pacific region accounted highest market share in 2018, however, the Middle East and Africa region is expected to gain the highest growth with a CAGR of 9.0%, driven primarily by demand for water sanitation pumps in Africa, followed by the Middle East.”
The report titled “Competition Benchmarking in Global Pumps Market – WILO Group, KSB Group, Xylem Pumps Inc, EBARA Group, Grundfos Group, Sulzer Pumps, Shimadzu Group, Kirloskar Brothers Limited, Flowserve Inc, Weir Group” By Ken Research suggested that the Global pumps market has been increasing due to rising demand of water and waste water treatment plants, introduction of new product offerings which are innovative and use IOT based analytics, growth of other end-user sectors coupled with the growing potential of the pumps servicing sector. The market is expected to register a positive CAGR of 2.9% in terms of revenue during the forecast period 2018-2023E.
Increase in Global Electricity Production: Global Electricity Production was 26,590 Terawatt hours in 2018, growing at a CAGR of 2.6% (2013-2018). This showcases that there has been a rise in production plants over the years. These power plants use pumps extensively in the power generation process and are a potent source of demand for the pumps market.
Rise in Global Water Consumption: As per Industry Articles, Demand for fresh water is increasing by 64 billion cubic meters a year. As per industry articles, global water consumption in 2014 was 1,405 billion cubic meters and is expected to reach 1,565 billion cubic meters by 2025. As the total available freshwater decreases, countries are setting up desalination plants to cater to the global water demand. This serves as a source of Potential demand and CSR for global pump manufacturers.
Global Pump Manufactures Aiding in Solving Global Problems: Global pump manufacturers are dedicating their efforts to help solve problems faced by many less privileged countries and sectors in the world. They provide pumps and pump systems to drought-ridden areas to provide access to fresh water. Pump manufacturers are updating their mission statements as well to reflect this decision.
Key Segments Covered:-
Global Pumps Market:
By Regions (Americas, Europe, Asia Pacific, And Mea), 2018 And 2023E
By End Users For Positive Displacement (By Oil And Gas, Chemicals, Food And Beverage, Water And Wastewater, Pharmaceuticals, Power Generation And Others), 2018 And 2023E
By End Users For Centrifugal Pumps (By Oil And Gas, Chemicals, Food And Beverage, Water And Wastewater, Pharmaceuticals, Power Generation And Others), 2018 And 2023E
By Type of Pump (Centrifugal Pumps and Positive Displacement Pumps)
By Centrifugal Pump
By Centrifugal Pump Stages (Single-Stage And Multi-Stage Pumps), 2018 And 2023E
By Centrifugal Pump Location (Submersible And Non-Submersible Pumps), 2018 And 2023E
By Positive Displacement Pump (Rotary Pumps And Reciprocating Pumps), 2018 And 2023E
Key Target Audience:-
Global Pump Manufacturers
Centrifugal Pump Distributors
Positive Displacement Pump Distributors
Private Equity and Venture Capitalists Firms
Time Period Captured in the Report:-
Historical Period: 2013- 2018
Forecast Period: 2019E – 2023E