Heavy Duty Pumps Market to 2025 (CAGR 5.4% Expected) Top Players Profiled Alfa Laval, EBARA Corporation, Flowserve Corporation,Gardner Denver, General Electric Company, Grundfos, ITT, Sulzer, The Weir Group
The global heavy-duty pumps market was valued at $ 12,823 million in 2017 and is expected to reach $ 19,522 million by 2025, growing at a CAGR of 5.4% during the forecast period.
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The centrifugal pump segment accounted for more than four-fifth of the market share in 2017 and is expected to witness significant growth during the forecast period. Increase in need for more food in the developing countries due to growth in population and urbanization, drive the growth of the heavy-duty pumps market.
Furthermore, the stringent rules & regulations by the government to produce heavy-duty pumps, offer significant growth potential for the global market. However, fluctuating prices of oils and raw materials hinder the growth of the market. Moreover, rise in awareness about energy saving creates lucrative opportunities for the growth of the market.
The processing industry segment based on end-user industry has the largest market share in the global heavy-duty pumps market during the forecast period. Its market share is expected to grow due to the rise in demand for chemical processing & wastewater processing across the globe. Furthermore, the others market in the product type segment is expected to grow at a significant CAGR during the forecast period, owing to the capability of heavy-duty pumps to efficiently resist corrosion.
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Comprehensive and Competitive Analysis of Leading Market Players
•Gardner Denver, Inc.
•General Electric Company
•KSB SE & Co.
•The Weir Group PLC
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