Axial Flow Pump Market to Witness Remarkable Growth from 2021 - 2030

According to a new report published by Allied Market Research, titled, "Axial Flow Pump Market by Product Type, Application, and End-Use: Global Opportunity Analysis and Forecast, 2021-2030,"the global axial flow pump market forecast was valued at $27.4 billion in 2020, and is projected to reach $42.1 billion by 2030, growing at a CAGR of 4.4% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/A12995

Axial flow pump (AFP), also known as a propeller pump, is a type of centrifugal pump that is used for high and low-head applications. These pumps consist of an impeller that is located in a pipe-like structure and is designed to handle severe pumping conditions. Horizontal and vertical are two major types of axial flow pumps that are available in the market.

Vertical axial flow pumps possess various significant characteristics such as less space requirement, increased overall efficiency, no priming requirement, and others that make them suitable for a wide range of applications. The utilization of vertical axial flow pumps in sectors such as power plants, chemical industries, water drainage, and others drives the axial flow pump market growth. In addition, the increase in global electricity demand has made power plants produce more electricity where vertical axial pumps are used to transfer the process fluid at different power plant locations. These factors are predicted to notably contribute to the global market.

However, axial flow pumps cost more than other types of centrifugal pumps and are not suitable for applications that include the use of high viscous fluid transportation. This factor is anticipated to hamper the market growth during the forecast period.

Rapid technological advancements in water treatment sectors have surged the demand for highly efficient pumping equipment. Axial flow pumps being capable of delivering nearly four times higher discharge than normal centrifugal pumps of the same rating have made water treatment sectors more linear toward using axial flow pumps. In addition, governments of both developed and developing economies have imposed several regulations and environmental policies for the discharge of industrial and untreated wastewater into rivers, lakes, and other water bodies. For instance, according to an article published by India WaterPortal, the Environment Ministry has imposed a ban on project clearance of industries that discharge untreated water into open water bodies. This has made industries invest more in water treatment facilities. This factor is anticipated to create remunerative opportunities for the expansion of the axial flow pumps market in the future.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A12995

The axial flow pump market analysis is done based on product type, application, end-use, and region.

By product type, the market is segregated into horizontal and vertical. The horizontal product type dominated the global market in terms of revenue in 2020, with over two-thirds of the total share. This is attributed to the fact that the use of horizontal shaft-type axial flow pumps has advantages such as being placed on a simple foundation, easy accessibility for inspection, being mounted and dismounted easily, and housing for the pump can be lowered.

By application, the global axial flow pump market is classified into water treatment, irrigation, evaporators, and others. The other applications dominated the global market in terms of revenue in 2020, with over one-third of the total share. This is attributed to the fact that utilization of axial flow pumps in applications such as fisheries, heat recovery systems, sewage digesters, high volume mixing, and others is the major key axial flow pump market trend in the global market. The increasing global power consumption has surged the need for heat recovery systems where axial flow pumps are widely used for the circulation of process fluid in power plants.

By end use, the global market is divided into chemical, municipal, pulp & paper, agriculture, food & beverage, and others. The agriculture end-use dominated the global market in terms of revenue in 2020, with over two-seventh of the total share. This is attributed to the fact that the increasing population has surged the demand for crop production where axial flow pumps are widely employed for irrigational purposes.

This may increase the demand for the axial flow pump market in the agricultural sector. Moreover, axial flow pumps can discharge nearly four times more water as compared to centrifugal pumps of the same rating relatively reduced energy costs. This has made farmers more linear towards using axial flow pumps for various pumping applications in agricultural sectors.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A12995

Region-wise, the axial flow pump market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific axial flow pump market size is projected to grow at the highest CAGR during the forecast period and account for a major axial flow pump market share in 2020, owing to the growing demand for axial flow pumps among different end-use industries such as pulp & paper, food & beverage, and chemical.

The global market analysis covers in-depth information on the major axial flow pump industry participants. Key players operating in the global axial flow pump market include Ebara Corporation, Flowserve Corporation, Grundfos Holdings A/S, Handol Pumps Limited, Hitachi Industrial Products Ltd., ITT Goulds Pump, Pentair PLC, Sulzer Ltd., The Weir Group PLC, and Xylem Inc.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬

The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The axial flow pump market has been negatively impacted in the wake of the COVID-19 pandemic, owing to its dependence on chemical, petrochemical, fisheries, and other sectors. According to a report published by the National Bureau of Statistics of China, the chemical industry witnessed a 20% decline in production in March 2020 as compared to March 2019, while profits declined by 66%. In addition, several chemical manufacturing companies have either shut down or shrank their operations due to the risk of infections among the workforce where axial flow pumps are used for transporting large liquid masses to various chemical industry equipment such as evaporators, crystallizers, and others. This has temporarily hampered the demand for the axial flow pump market amid the COVID-19 period. In addition, the falling income of customers and international travel restrictions have led to a contraction of the demand for axial flow pumps among refining sectors. For instance, according to a report published by the U.S. Bureau of Labor Statistics, the global oil demand decreased by 3 million barrels per day during March 2020, owing to the lockdowns and transport restrictions. In addition, around 180 countries have temporarily stopped the trade of unnecessary products, which in turn has hampered the demand-supply chain of axial flow pumps amid the COVID-19 situation.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

- The vertical product type is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.7% from 2021 to 2030.
- The other application is anticipated to register the highest CAGR of 5.1% during the forecast period.
- The food & beverages end-use segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.2% from 2021 to 2030.
- Asia-Pacific garnered the highest share of 41.9% in 2020, in terms of revenue, growing at a CAGR of 5.3%.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟑𝟖 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬): https://www.alliedmarketresearch.com/checkout-final/3c5ed86edd5f36b65d360302ace871fe

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