Press release
Industrial Pumps Market To Witness the Highest Growth Globally in Coming Years 2021-2027
The Industrial Pumps Market Perspective, Comprehensive Analysis, and Major Segments and Forecast, 2021-2027. The Industrial Pumps market report is a valuable source of data for business strategists. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). The report explores the current outlook in global and key regions from the perspective of players, countries, product types, and end industries. This Industrial Pumps study provides comprehensive data that enhances this report's understanding, scope, and application.Top Companies in the Global Industrial Pumps Market:
A.R. North America, Inc., Colfax Corporation, Flowserve Corporation, ITT Corporation, Roper Technologies Inc., SPX Flow Inc., Vaughan Company Inc., Iwaki America Inc., Global Pump Company, Grundfos Pumps Corporation, Haight Pumps, Pioneer Pump Inc, Sulzer Brasil S.A., HERMETIC-Pumpen GmbH, SEKO Bono Exacta S.p.A., DESMI A/S, Summit Pump, Inc., Speck Pumpen Group, Kracht GmbH, Klaus Union GmbH, among others.
The global Industrial Pumps Market to grow with a CAGR of 4.6% over the forecast period of 2021-2026.
Market Overview
An industrial pump is usually a heavy-duty process pump used to move many different types of products, including water, chemicals, petroleum, wastewater, oil, sludge, slurry, or food. The types of pumps typically used for industrial purposes include centrifugal pumps and positive displacement pumps.
The growing use of industrial pumps in various applications including wastewater treatment and chemicals is likely to drive the market over the forecast period.
Asia-Pacific was the dominant region for the market in 2018, owing to an increase of 2.8% in the refining capacity as compared to 2017.
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Market Insights
The global refining capacity increased by 2.8% in 2018, which is likely to continue over the forecast period. The increase in the refining capacity globally has increased the demand for centrifugal pumps in refineries and is expected to continue over the forecast period. As of 2018, there were above 470 planned and announced petrochemical plants, out of which China is expected to have 240 plants with a total capacity of around 100 MTPA by 2026. The capital expenditure for the projects in China accounted for about USD 52 billion.
China is expected to account for the significant growth in crude oil refining capacity between 2019 and 2025 in Asia-Pacific (APAC). The country is expected to account for 26.8% of the total refining expansion capacity in APAC by 2025. Also, India's refining capacity has witnessed a CAGR of 3.36% between 2009-10 and 2018-19. As of August 2018, India Oil Corp., Indias largest refining company, had plans to increase its refining capacity from 80.7 million metric tons per annum to 150 million metric tons per annum by 2030. Additionally, Projects worth INR 320 billion are in various stages of execution.
Competitive Landscape
Baker Hughes GE and Houghton International signed a channel partner agreement in September 2020. The agreement is expected to allow Hayward Tyler to undertake distribution and upgrade services of centrifugal pump spare parts in the United Kingdom and Ireland.
In March 2020, GEA Group launched its range of hygienic centrifugal pumps in the United States with the slogan “Go West.” The GEA centrifugal pumps have a unique impeller design that allows easy cleaning and the capacity to handle a wide range of liquids. According to the company, the greatest immediate opportunity for the GEA centrifugal pump is in the dairy industry.
The oil and gas sector has hit hard with the global outbreak of COVID-19, and the oil prices reached negative terms for the first time in history in April 2020. This severely affected the market demand due to the delays and closure of several major projects globally.
This report segments the global Industrial Pumps Market based on Types are:
Centrifugal
Reciprocating
Rotary
Diaphragm
Based on Application, the Global Industrial Pumps Market is Segmented into:
Oil & Gas
Chemicals
Construction
Power Generation
Water & Wastewater
Others
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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of Industrial Pumps Market these regions, from 2020 to 2026 (forecast), covering
North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada, and Mexico) Europe (Germany, France, UK, Russia, and Italy) Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) South America (Brazil, Argentina, Columbia, etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
Impact of the Industrial Pumps market report:
– A comprehensive evaluation of all opportunities and risks in the market.
– Industrial Pumps market ongoing developments and significant occasions.
– A detailed study of business techniques for the development of the market-driving players.
– Conclusive study about the improvement plot of the Industrial Pumps market for approaching years.
– Top to the bottom appreciation of market-express drivers, targets, and major littler scale markets.
–Favourable impressions inside imperative mechanical and publicize the latest examples striking the market.
What are the Industrial Pumps market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the Industrial Pumps market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. Also, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Global Digital Rights Management Market report includes the accurately studied and assessed data of the key industry players and their scope in the market utilizing several analytical tools. Analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the key players' growth in the market.
The report has 150 tables and figures browse the report description and TOC
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We Also Offer Customization on report based on specific client Requirement:
– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
Related Reports
Global Centrifugal Pump Market Insights And Forecast To 2027
https://www.marketinsightsreports.com/reports/06022947284/global-centrifugal-pump-market-insights-and-forecast-to-2027?Mode=46
Global Reciprocating Pumps Market Outlook 2021
https://www.marketinsightsreports.com/reports/12152502544/global-reciprocating-pumps-market-outlook-2021?Mode=46
Global Diaphragm Pumps Market Research Report 2021
https://www.marketinsightsreports.com/reports/01292576948/global-diaphragm-pumps-market-research-report-2021?Mode=46
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Irfan Tamboli (Sales Manager) - Market Insights Reports
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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