The Global Pumps Market
Additionally, as investments in infrastructure and other crucial processes like wastewater treatment and electricity production, pumps become more and more crucial. Additionally, there have been increase in end-user applications in recent years, hence boosting the growth of the global pumps market.
Due to global urbanization, there has been a rapid adoption of pumps along with increasing infrastructure construction activities and the search for new water sources. However, the rise of numerous Chinese businesses who sell pumps at very low prices has posed a challenge to the expansion of regional and international market participants in recent years. Additionally, the aftermarket sales of pumps and their components have been impacted by a greater emphasis on extending operational lifetime of modern pumps rather than spending money on R&D of new products.
Pumps are machines that move fluids and liquids by mechanical action. Although they all operate on the same principle of utilizing energy and moving fluid through mechanical action, pumps are divided into different categories based on how they function. Pumps can be powered manually or by an outside energy source. The three most prevalent energy sources are engines, electric motors, and wind energy. Pumps are found at in a range of sizes, from tiny household pumps to large industrial pumps. The main criterion for classification is how many centrifugal pumps are present in commercially found at pumps. Single stage pumps and multi stage pumps are two different types of pumps.
Increasing Demand In Waste Water Treatment
The amount of wastewater produced and the overall emission load are expected to increase globally as water demand rises. Because of this, governments around the world have enacted strict wastewater management policies and laws, notably in the urban and industrial sectors. Additionally, with growing environmental awareness and a growing water deficit, the demand for water treatment facilities in emerging nations is anticipated to rise.
Moreover, due to a rise in infrastructure and development initiatives, the acquisition of new pumps is happening quickly in growing nations. The demand for pumps is anticipated to increase as a result of this expansion and the rise in living standards in developing countries, particularly among end users in the manufacturing sector. Additionally, these nations' access to water resources and sanitation is probably going to get better, which is probably going to have a big impact on the need for water pumps.
Growth in Merger and Acquisition Activities
Pump market vendors are concentrating on M&As to expand and investigate new markets. As a result of players being able to establish their position and bases in emerging countries, these efforts have given the market additional energy. A number of major players in the world, including Wilo, Sulzer, and others, have engaged in M&As to expand their brands’ market prospects. Additionally, they have expanded their presence in developing countries and new areas using this method, and they are continuing to grow by purchasing important regional companies. Additionally, pumps with specialized and cutting-edge technologies, like those with remote monitoring capabilities, are anticipated to fuel market expansion in the future. Pump makers are starting a digital revolution by embracing IIoT, big data, and artificial intelligence. For makers of pumps, fostering innovations and related disruptive activity provides a competitive advantage. Numerous companies, like KSB, Sulzer, and WILO, have developed networked machines that provide real-time production line tracking, which further boosts productivity and reduces downtime.
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Market Segmentation
Global
Market Players
Recent Development
- Sulzer introduced GTC Technology
to its exceptional offering for process industries globally in April 2019 by
purchasing the company's proprietary methods and systems for aromatization, C5
processing, BTX recovery, and gas to liquids processing.
- Dover acquired XanTec Steuerungs,
a developer and provider of automation and control systems for industrial
machinery, in September 2020. Within Dover's Pumps & Process Solutions
division, XanTec has joined the Maag Group ("Maag"), a reputable
global provider of integrated and adaptable process technology solutions for
the polymer, chemical, petrochemical, pharmaceutical, and food sectors.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 –
2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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Type
End Use
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Regional scope
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North
America; Asia-Pacific; Europe; South America; Middle East & Africa
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Country scope
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United States, Canada, Mexico, China, Indian, Japan, South
Korea, Australia, Singapore, Malaysia, Germany, United Kingdom, France,
Russia, Spain, Belgium, Italy, Brazil, Colombia, Argentina, Peru, Chile,
Saudi Arabia, South Africa, UAE, Israel, Turkey
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Key companies profiled
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Alfa
Laval Corporate AB, BAKER HUGHES Company, CIRCOR INTERNATIONAL, INC., DESMI
A/S, FLOWSERVE Corporation, Kirloskar Brothers Limited , KSB SE & Co.
KGa, Nikkiso co. Ltd, SPX Flow, Inc, Franklin Electric Co., Inc.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized
purchase options to meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
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