Press release
Water Pump Market is expected to surpass revenues worth US$77.2 billion by 2033
Water Pump Market 2023-2033
According to Persistence Market Research, the water pump market will generate revenue of US$50.2 billion by 2023. The global market for water pumps is expected to reach US$77.2 billion by 2033, growing at a 4.4% CAGR from 2023 to 2033.
The growth of the market is driven by the increasing demand for water pumps in various applications, such as agriculture, municipal, industrial, and residential. The rising population and urbanization are also contributing to the growth of the market.
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The following are some of the key trends that are expected to drive the growth of the global water pump market:
• Increasing demand for water pumps in various applications
• Rising population and urbanization
• Increasing investment in water supply and wastewater treatment infrastructure
• Technological advancements in water pump manufacturing
• Growing focus on energy efficiency
The following are some of the challenges that are expected to hinder the growth of the global water pump market:
• High cost of water pumps
• Competition from low-cost players
• Stringent environmental regulations
Key Players
• CRI Pumps Pvt Ltd.
• Gardner Denver
• Torishima Pump Mfg. Co.
• General Electric Company
• Weir Group PLC
• Weatherford International Inc
• ITT Inc.
• PROCON Products
• KSB Group
• Kirloskar Brothers Limited
• Sulzer Ltd. and more
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Market Segmentation
The water pump market can be segmented based on the following factors:
Product Type
• Centrifugal Pumps
• Positive Displacement Pumps
End-User
• Residential
• Commercial
• Industrial
• Agricultural
Application
• Water Supply and Treatment
• Irrigation
• Oil and Gas
• Chemicals
• Mining
• Others
Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Sure, here are some recent developments of companies in the water pump market:
• Grundfos
In March 2023, Grundfos announced the launch of its new water pump, the Grundfos Scala2. The new pump is designed to be more efficient and quieter than previous models.
• Wilo-Yonos
In February 2023, Wilo announced the launch of its new water pump, the Wilo-Yonos Para. The new pump is designed to be more energy-efficient and quieter than previous models.
• Pentair
In January 2023, Pentair announced the launch of its new water pump, the Pentair Intelliflo. The new pump is designed to be more intelligent and easier to use than previous models.
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