Global Water Pump Market: Mainly Propelled by increasing urbanization and industrialization
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Water scarcity in certain parts of the sphere, and increasing usage of water pump in various sector such as fire protection system, buildings, wells, and hot water circulation in industries are the global water pump market trends. Though, availability of substandard pumps and high competition are the restraints of the global water pump market growth. Moreover, increasing investment in energy and power sector in developing economies, increasing construction of wastewater treatment plants and water recycling plants globally would provide lucrative opportunities to the market.
End-user, technology, and geography are the classifications of the water pump market. positive Displacement water pump and centrifugal water pump are the bifurcations of technology segment. By end-user, the market is categorized into municipal water & wastewater, oil & gas, chemical, energy, and others.
On the basis of geography, global water pump market is categorized into North America, Europe, Asia- Pacific, and Rest of the World (RoW). North America is further segmented into U.S., Canada, and Mexico whereas Europe segment includes of UK, Germany, France, Italy, and others. Asia-Pacific is bifurcated into India, China, Japan, South Korea, and others while RoW segment consist Middle East, South America, and Africa.
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Centrifugal water pump, by technology occupied the largest global water pump market share in the year 2016
In the year 2016, centrifugal water pump anticipated the technology segment with largest market share during the forecast period owing to widely usage in buildings, wells, hot water circulation in industries, and fire protection system. While, positive displacement water pump is expected to dominate with fastest CAGR throughout the forecast period.
Municipal water & wastewater, and chemicals both the segment, by end use anticipated to attain maximun share during the forecast period.
In the end user, together Municipal water & wastewater, and chemicals segment will attain largest market share throughout the forecast period 2016 – 2024 owing to rapid growth of urban population is making pressure on the present water infrastructure, that comprises delivery of utility water, and treatment of wastewater. To meet this rising need, numerous governments in Africa and Asia are projected to increase their expenditure on irrigation and drinking water systems.
Asia-Pacific dominated the leading share in the global Water Pump Market
In the year 2016, Asia-Pacific generated the highest market share with about 42.9% in 2016 and continue its dominance during the forecast, driven by the factor such as surge in brownfield projects, increased used for pumps in agriculture sector, and increasing disposable income. Moreover, countries like Trinidad & Tobago, Myanmar, US, New Zealand, Australia, are witnessing a high demand in the global water pump market.
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Key players profiled in the report include Gardner Denver, Inc., Weatherford International Inc., Sulzer Ltd., Torishima Pump Mfg. Co., PROCON Products, Kirloskar Brothers Limited, General Electric Company, Weir Group PLC, ITT Inc., KSB Group, and among others.
Scope of Water Pump Market
• Centrifugal Water Pump
• Positive Displacement Water Pump
• Municipal Water & Wastewater
• Oil & Gas
• Other End-Users
• North America
o South Korea
o South America
o Middle East
About Variant Market Research
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