Heavy-Duty Pumps Market to Reach $19.52 Billion, Globally, by 2025 at 5.4% CAGR, Says Allied Market Research

Allied Market Research recently published a report, titled, “Heavy-duty Pumps Market by Pump Type (Centrifugal and Positive-displacement), Product Type (Crude oil, Fuel oil, Asphalt, and Others) and Application (Oil, Gas, & Power, Processing, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025”. According to the report, the global heavy-duty pumps market garnered $12.82 billion in 2017 and is projected to reach $19.52 billion by 2025, registering the CAGR of 5.4% during the forecast period.

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Rise in installation of crude oil pipelines and surge in oil consumption have boosted the growth of the global heavy-duty pumps market. In addition, huge demand from food & beverage industry has supplemented the market growth. However, unstable prices of raw materials and oil hamper the market growth. On the contrary, upsurge in awareness about energy saving and government regulations and increase in demand for wastewater management are expected to create lucrative opportunities for the market players in the near future.

According to the 2017 United Nations World Water Development report, more than 95% wastewater produced in few least-developed economies and more than 80% of the wastewater produced globally is discharged in the environment without any treatment, which pollutes the freshwater. Hence wastewater treatment offers a great opportunity for the manufacturers to manufacture pumps that are suitable to treat water and wastewater. In addition, key players have been focusing largely to adopt newer ways to boost the growth of the market. For instance, SPS pumps by General Electric perform various heavy-duty applications, such as liquefied/natural gas (NGL) boosting, crude oil boosting and transfer, condensate transfer, and others, thereby propelling the heavy-duty pumps market growth.

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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.

Key Findings of the Heavy-duty Pumps Market:

•Based on end-user industry, the processing industry segment dominated the heavy-duty pumps market in terms of revenue in 2017 and is projected to grow at a CAGR of 5.7% during the forecast period.
•Asia-Pacific generated the highest revenue in 2017 and is anticipated to grow at the highest CAGR of 6.2%.
•The centrifugal pump segment based on the pump type generated the highest revenue in 2017 and is estimated to grow at the rate of 5.6%.
•In North America, the U.S. accounted for more than half of the market share in 2017.

The key players profiled in this report are Alfa Laval, EBARA Corporation, Flowserve Corporation, Gardner Denver, Inc., General Electric Company, Grundfos, ITT INC., KSB SE & Co., Sulzer Ltd., and The Weir Group PLC.

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