Press release
Global Water Pump Market is estimated to grow at a CAGR of 5.5% from 2016 to 2024
Bharat Book Bureau
The drivers of the global water pump market include rapid industrialization and urbanization, water shortage is certain parts of the globe, and increased demand for advanced water pumps. However, factors such as high competition due to presence of large unorganized group and availability of low grade products would limit the growth of the market. Furthermore, increasing number of brownfield projects and construction of new water recycling plants could provide several growth opportunities in the coming years.
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The water pump market is categorized into technology, end-user and geography. By technology, the market is segmented into centrifugal water pump, and positive displacement water pump. End user is further bifurcated into energy, municipal water and wastewater, oil & gas, chemical, and others.
Based on geography, water pump market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Russia, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
The key market player includes Weir Group PLC, General Electric Company, Weatherford International Inc, Gardner Denver, Inc., Kirloskar Brothers Limited, Torishima Pump Mfg. Co., ITT Inc., PROCON Products, KSB Group, and Sulzer Ltd., among others.
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