Global Pumps Market Report (2022 to 2027) – Demand for Efficient and Advanced Pump Technology is Driving Growth
DUBLIN, July 15, 2022 /PRNewswire/ — The “Pumps Market – Global Outlook & Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
Pump demand is predicted to rise in developing nations as water supply investments expand. Water and wastewater infrastructure are also expected to grow in APAC, Middle East & Africa, and Latin America. As a result, additional investments in the water and wastewater sectors will open up opportunities in the global pumps market.
An increased capital investment expenditure in developing countries is expected to allow vendors to invest further in plant expansion and upgrading manufacturing plants. Increased growth in mining activities and production of mined materials in China, India, and other developing countries are projected to boost the output.
Sales in the APAC region are expected to rely on capital expenditure by industries and construction projects. Strong aftermarket demand in the global mining market offers immense opportunities for the centrifugal pumps market.
Key Winning Strategies in the Global Pumps Market
- Access to water supply and sanitation in the water and wastewater industry is improving in developing countries. Also, old water facilities are getting replaced and upgraded in developed countries, increasing water management facilities’ demands.
- Centrifugal pumps are expected to be widely used due to their varied pressure and load handling capacities, including the ability to process liquids with high solid content and comparatively low maintenance costs.
- The growing production in the chemical industry is expected to increase the demand for aftermarket products (parts and replacement parts)
- The demand for pumps from the oil and gas industry benefits oil and gas production across the globe. However, this will be offset by a dramatic decrease in oil prices in the short term.
High Demand for Water & Wastewater Treatment Plants
As the water demand increases, the quantity of wastewater produced and the overall emission load are projected to grow worldwide. Therefore, policymakers across the globe have implemented stringent wastewater management strategies and legislation, particularly in the urban and industrial sectors. Also, the demand for water treatment plants in developing countries is projected to increase with growing environmental awareness and the increasing water shortage.
Market Opportunities: Rising Number of Modular Construction Projects
Prefabricated buildings, also known as prefab houses and constructed homes, are residences and commercial spaces that are built ahead of time in a warehouse, usually in pieces that can be easily transported and incorporated into the property. Established markets of North America and Europe expect to witness a high demand for prefabricated buildings during the forecast period since the commercial adoption of prefabricated construction has grown in several residential and commercial sectors, including hotels, resorts, spas, and sports clubs, among others. The surge in demand for prefabricated buildings is expected to fuel the demand for industrial pumps.
Market Drivers: Demand for Efficient and Advanced Pump Technology
Specialty and advanced technology such as remote monitoring facilities are expected to boost market growth. Pump manufacturers are undertaking a digital revolution by accepting IIoT, big data, and artificial intelligence. Supporting innovations and associated disruptive technologies offers a strategic edge for manufacturers. Several businesses, such as KSB, Sulzer, and Wilo, have built connected machines that allow real-time production line tracking, those further increases efficiency and minimizes downtime.
Challenges: Fluctuations in Raw Material Prices
Fluctuations in raw material prices on imposition or rise in tariffs, commodity shortages, or allocations have adversely affected the pumps market. Changes in currency exchange rates, net revenue risk, and operating margins of global manufacturers have emerged as significant challenges in the market. Raw materials, including steel, titanium, nickel, and petroleum-based products, are projected to observe price discrepancies, thereby emerging as a prime challenge.
The Centrifugal Pumps Market is expected to grow at a CAGR of 5 % during the Forecast Period.
Centrifugal pumps are expected to remain dominant and may continue to be the most widely used type due to their varied pressure and load handling capacities. Some of the attributes of centrifugal pumps include treating high solid quality liquids and comparatively low maintenance costs. Further, due to the growth in process manufacturing operations, demand for positive displacement pumps is expected to outpace the industry average. Development in manufacturing operations, especially in challenging environments such as those in the chemical industry, is likely to benefit from the demand for aftermarket products.
The Industrial Sector Remains the Dominant End-user Market Due to the Growing Demand for Pumps in the Oil and Gas Industries.
The demand for industrial pumps is anticipated to drive the refineries beyond the expected timeline. Strict government controls and pollution reduction initiatives are expected to limit oil and gas demand growth and thus limit market development throughout the forecast period. In processing hydrocarbons, refineries, water injection, and pipelines, centrifugal pumps are widely used, and the demand is projected to expand as the refining capacity grows. Moreover, the recovery in oil prices and the increasing volume of onshore and offshore fields, which includes the development, evaluation, and construction activity of fields, will expand the oil & gas sector. The expansion is expected to contribute to the development of deep-water offshore enterprises for deeper offshore areas, thereby increasing the demand for submersible pumps.
Asia-pacific Remains the Dominant Region for the Global Pumps Market.
The sales are likely to be based on high capital spending and construction expenditure growth. Several Asian countries, including China and India, are investing more in oil, pesticides, and food and drinks. In addition, there will be two prime developments in the market for water infrastructure; expansion of access to water sources and sanitation in emerging countries and rehabilitation and up-gradation of aged water facilities in developed countries. According to this market research report, the pump market in India crossed USD 2.2 billion in 2020.
Key Questions Answered
1. What is the Current Market Size of the Global Pumps Market?
2. What is the Global Pumps Market Growth?
3. What Are the Factors Driving the Pump Market Growth?
4. What is the Growth Rate of the Centrifugal Pumps Market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segmentation
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Report Insights
7.1 Market Overview
7.2 Market Trends
7.3 Market Opportunities
7.4 Market Drivers
7.5 Market Challenges
7.6 Segment Review
7.7 Companies & Strategies
8.2 Value Chain Analysis
8.3 Growth in Mergers & Acquisitions
8.4 Demand for Efficient & Advanced Pump Technology
8.5 Impact of Covid-19
8.6 Global Economy
9 Market Opportunities & Trends
9.1 Demand for Water & Wastewater Treatment Plants
9.2 Increased Infrastructure Projects in Developing Economies
9.3 Rise in Number of Modular Construction Projects
9.4 Demand for Energy-Efficient Pumps
9.5 Advent of Intelligent & Smart Pumps
10 Market Growth Enablers
10.1 Strong Replacement Demand
10.2 Demand for Efficient & Advanced Pump Technology
10.3 Launch of Wastewater Treatment Schemes in the Middle East
11 Market Restraints
11.1 Volatility in Oil & Gas Prices
11.2 Fluctuations in Raw Material Prices
11.3 Competitive & Fragmented Market Environment
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
14.1 Market Snapshot & Growth Engine
15.1 Market Snapshot & Growth Engine
16.1 Market Snapshot & Growth Engine
17.1 Market Snapshot & Growth Engine
17.2 Market Overview
18.1 Market Snapshot & Growth Engine
18.2 Oil & Gas
18.3 Water & Wastewater
18.4 Food & Beverage
19.1 Market Overview
20.1 Market Overview
21.1 Market Overview
22.1 Market Snapshot & Growth Engine
22.2 Geographic Overview
23.1 Market Overview
23.2 Market Size & Forecast
23.9 Key Countries
24.1 Market Overview
24.2 Market Size & Forecast
24.9 Key Countries
25 North America
25.1 Market Overview
25.2 Market Size & Forecast
25.9 Key Countries
26 Middle East & Africa
26.1 Market Overview
26.2 Market Size & Forecast
26.9 Key Countries
27 Latin America
27.1 Market Overview
27.2 Market Size & Forecast
27.9 Key Countries
28 Competitive Landscape
28.1 Competition Overview
29 Key Company Profiles
29.1 Alfa Laval
29.4 the Weir Group
29.7 Spx Flow
29.9 Kirloskar Brothers
29.10 Franklin Electric
29.14 Baker Hughes
30 Other Prominent Vendors
30.1 Arian Pumps
30.2 Ar North America
30.3 Bosch Rexroth
30.4 Cp Pumpen AG
30.7 Norm Hydrophore Pump
30.9 Sumak Pump
30.10 Vesta Pump
30.12 Samsun Makina Sanayi
30.13 Sahinler Submersible Pumps
30.15 Jetox Pumps
30.18 Global Pump
30.19 Haight Pumps
30.21 Iwaki America
30.22 Klaus Union
30.24 Leistritz Group
30.25 Naniwa Pump
30.28 Roper Pumps
31 Report Summary
32 Quantitative Summary
For more information about this report visit https://www.researchandmarkets.com/r/etapw2
Research and Markets
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