Pumps Market Growth, Trends, Development, Key Manufacturers Analysis and Forecast to 2025
A device used for the movement of fluids (liquid or gas) and slurries by mechanical action is known as pump. Pumps can be classified on the basis operation mechanism but works on the same principle of consuming energy and moving the fluid by mechanical action. Pumps can be either powered by manual operation or some source of power.
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Typical source of power includes electric motor, engine or wind power. Pumps are available in many sizes, from small pumps for use in medical & household application to large industrial pumps. Commercially available pumps are primarily classified on the basis of number of impeller. These are Single stage pumps (one impeller) and double or multi stage pumps (two or more impellers). Further, the pump industry is classified into two major categories namely positive displacement and centrifugal pumps. Centrifugal pumps are most commonly adopted and represent the major market.
Growth in adoption of pumps is primarily driven by eight major industries namely coal, oil & gas, refinery products, steel, fertilizers, cement and electrical. Agriculture and building services also represents some of the major end - use segments in developing economies such as India and China. Major players in the global pumps market are primarily focusing towards quality along with low cost proposition. Further brand building, bolstering market reach in foreign geographies is also identified as one of the major success factors to stand out in the global market.
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The objectives of Pumps Market report are as follows:
• To provide overview of the global Pumps market
• To analyze and forecast the global Pumps market on the basis of solution, business type, industry vertical
• To provide market size and forecast till 2025 for overall Pumps market with respect to five major regions, namely; North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM), which are later sub-segmented across respective major countries
• To evaluate market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend
• To provide exhaustive PEST analysis for all five regions
• To profiles key Pumps players influencing the market along with their SWOT analysis and market strategies
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Some of the important players in Pumps market Xylem Inc., Kirloskar Brothers Limited, GRUNDFOS, Sulzer Ltd, Flowserve Corporation, Ebara Corporation, The Weir Group PLC, KSB Pumps Ltd., Wilo SE, and Ruhrpumpen Group.
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