Research report explores the Water Pump Market Research
By definition, water pumps are used to increase the pressure of water in order to transfer it from one point to another. Worldwide, modern water pumps find use to supply water for industrial, agricultural, municipal, and residential uses. In particular, water pumps find extensive use in agriculture to transfer water from a water source, such as a dam, river, or bore. The pumped water is transferred through pipes either to a storage facility or a point of use. Water pumps also find use to transfer wastewater in sewage treatment plants.
Modern water pumps are available in few types. Broadly, water pumps are categorized into centrifugal pump, rotary pump, reciprocating pump, and others. Centrifugal pumps are widely used for domestic purposes. Centrifugal pumps function with an impeller, the fluid enters via the rotating impeller and is expelled out via centrifugal force using the impeller’s tips. The process thereby increases the velocity and pressure of the fluid and steers it towards the outlet of the pump. Structurally, a positive displacement pump features an extending cavity on the suction side of the unit and diminishing cavity on the discharge side of the unit.
Water pumps are water control equipment that use pumping or evaporation to drain water from construction sites, mine shafts, riverbeds, tunnels, underground metro networks, caisson, and even residential buildings. Water pumps are critical for many of these sites during rainy season or in flood zones. This is because rain and groundwater can flood an entire site within few hours, resulting in surface erosion, structural damage, downtime, and more.
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Global Water Pump Market: Snapshot
Water pumps are considered to be one of the oldest and most widespread machines, and they are available in a wide variety of applications. Water pumps are diverse products that are engineered, configured, and are standardized with essential auxiliary equipment. Newly developed state-of-the-art water pumps offer better performance reliability with efficient results. Water pumps can be classified by their method of displacement such as positive displacement pumps (reciprocating and rotary) and centrifugal pumps.
Water pumps are utilized in a vast range of end-user industries such as oil and gas, chemical, waste water treatment plants, and general industries such as pulp and paper manufacturing, mining, food and beverages, and power generation. Increase in the utilization of water pumps in the oil and gas sector can be attributed to the rising demand for energy. New technologies in water pumps enable efficient separation processes for liquids and gas. Similarly, rise in the number of wastewater treatment plants is primarily due to the increasing demand for domestic clean water, industrial water, flood control, and desalination purposes.
Demand from General Industry Sector to Present Lucrative Growth Avenues
In terms of pump type, the market for water pumps is segregated into centrifugal pump, reciprocating pump, rotary pump and others. Centrifugal pumps dominated the market for water pumps accounting for more than half of the market share in 2016. Centrifugal pumps are widely used across a vast set of applications and are available in different configurations such as axial and mixed flow pumps, single-stage pumps, submersible pumps, multi-stage pumps, and sealless and circular flow pumps to meet the challenges associated with flow control across various end use industries.
In terms of the key end users of water pumps, the global water pump market has been assessed in the report for industries such as oil and gas and refining, power generation, chemical, water and wastewater, and general industry. The general industry sector accounted for majority of the market in 2016. The power generation and water and wastewater sectors are projected to expand at significant CAGRs of 5.2% and 5.0%, respectively, between 2017 and 2025. The demand of water pumps from power generation sector is expected to gain traction during the forecast period particularly due to the increasing investment in power and energy sector in emerging economies. For instance, the Planning Commission of India has planned for the capacity addition of about 72,000 MW thermal power plants during the 12th FYP, augmenting the demand for water pumps.
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Asia Pacific to Remain Most Promising Regional Market
In terms of regional demand, Asia Pacific was the dominant region accounting for majority of the market share in 2016. With a massive rise in infrastructure development activities, particularly in emerging economies such as China, India, and Indonesia, the demand for water pumps in the region is expected to witness significant traction during the forecast period. The Asia Pacific region is also poised to register a promising CAGR of 5.8% during the forecast period. This is attributed to the rapid pace of industrialization in emerging nations such as India and China. The market in North America is expected to witness steady growth owing to the vast rise in fracturing activities in the region in the past few years. The North America market is expected to expand at a CAGR of 4.5% during the assessment period.
Some of the leading companies operating in the largely consolidated global water pump market are Xylem Inc., Sulzer, Flowserve Corporation, KSB Inc., Danfoss A/S, Wilo SE, Weir Group PLC., Ebara Corporation, Colfax Corporation, and Alfa Laval.
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Advances in Motor Technologies Key Driver for Water Pump Market
Water pumps are used in discharging water for wide range of applications. They are extensively and commonly used in residential, civil, construction, and agriculture applications. Sales in the water pump market have proliferated on the back of growing demand for wide range of pumps to meet varying commercial needs. Some of the key product types could be self-priming moonset pumps, centrifugal monoblock pumps, openwell submersible pumps, borewell water pumps, and pressure boosting pumps. Over the years, strides in the water pumps market have enabled the development of products that allow easy installation, need minimal maintenance during lifetime, and are energy efficient. Energy efficiency is perhaps the most attractive proposition and has been setting the tone of technological advancements in recent years. In this regard, motors play crucial role. Advancements in motors technologies come increasingly use of advanced electronics and the use of cutting-edge manufacturing technologies. These technologies are increasingly being adopted to unveil products with better designs and ergonomics. These features are especially useful for end users in the agriculture industry and residential applications. In recent years, manufacturers have keenly spent on strengthening their existing distribution and expanding them to new geographies.
The still-emerging pandemic and its fallouts in various parts of the world have changed the macroeconomic dynamics shaping the business prospects across almost all industries. Countries that are currently seeing new waves are hit hard and most. International trade has suffered so has the sourcing of cheap labor for various manufacturing industries. Further, a decline in consumer demand across various sectors were seen in the second half of 2020. Nonetheless, in recent months after numerous vaccines came and inoculation programs kicked off with much fervor, consumer sentiment in some industries are witnessing a positive growth. This is one of the trends that will shape the future demand and consumption patterns of various markets. The adoption of proactive strategic models will help companies, including in water pumps market, to tap into new revenue potential.
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