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Press Release / Business / Water Pump Market : Quantitative Market Analysis, Current and Future Trends 2016 – 2023

Water Pump Market : Quantitative Market Analysis, Current and Future Trends 2016 – 2023

By darshana on January 11 2018 | 206 Views

Water Pump Market - Global Industry Analysis 2016 - 2023

Water pumps are used in diverse applications across industries and the household sector. The rapid rate of urbanization and industrialization in developing countries has emerged as the key factor driving the global market for water pumps. Uses of water pumps are plenty, but they are primarily used to provide a continuous supply of water in industrial and commercial buildings, hospitals, houses, and others modern infrastructure. Water pumps are also considered indispensable in agriculture to ensure the controlled supply of water to farming lands.
Based on end-use application, the water pump market can be segmented into four categories: industrial water pumps, agriculture water pumps, domestic water pumps, and municipal water pumps. On the basis of technology, the global water pumps market can be bifurcated into positive displacement design and centrifugal water pumps. Of these, centrifugal water pumps are mostly used in buildings and for hot water circulation in industries. These pumps are also used in fire protection systems and wells.
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The report provides an in-depth study, covering the various factors influencing the market. It includes exhaustive information about the social and economic factors and government policies shaping the market’s trajectory between 2016 and 2024. The report also identifies the most lucrative regional markets for water pumps. Using industry-leading analytical tools, the report weighs the strengths and weaknesses of the major companies operating in the market.
Currently, Asia Pacific dominates the global water pump market, trailed by Europe and North America. The infrastructural development witnessed in the emerging economies of Asia Pacific such as India and China has been propelling the market for water pumps in the region.
In terms of product, centrifugal water pumps account for a major share in the market. The segment is expected to exhibit robust growth during the forecast period, as demand from the oil & gas industry and municipalities continues to rise.
The water pump market in Asia Pacific has been expanding significantly due to the increase in construction of wastewater treatment and water recycling plants in India and China. Furthermore, with the advent of technologies such as intelligent pump systems, the industry has been able to extend cost benefits to customers. These have emerged as key factors augmenting the global water pump market.
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The market is facing cutthroat competition from unorganized players in Asia Pacific, especially those operating in the agricultural sector. Poor farmers living in the region are price sensitive; hence, they prefer spending on indigenous water pumps instead of pumps from global brands. This is a key factor restraining the penetration of international enterprises in the emerging economies.
The global market for water pump is advancing toward consolidation with increasing number of mergers and acquisitions reported worldwide. In 2013, the acquisitions of Finder Pompe SpA by Dover, PIMS Group by Xylem, and Alaska Pump & Supply Inc. by DXP Enterprises were reported. Recently, Sulzer Ltd acquired 75% stake in Saudi Pump Factory, which is the largest manufacturer of pumps in the Gulf.
In order to study the prevailing competitiveness in the market, the report also profiles companies such as Torishima Pump Mfg. Co. Ltd., General Electric Company, and Watson-Marlow, Inc. The strengths and weaknesses of these companies are studied in detail. The companies are profiled based on their product portfolio, financial overview, strategies adopted, and development status.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. 
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