Trusted Business Insights presents the Updated and Latest Study on Pumps Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Pumps Market
Industry / Sector Trends
Pumps Market size was valued at over USD 70 billion in 2018 and will witness gains over 2.4% CAGR by 2025.
U.S. Pumps Market Share By Application, 2014 – 2025 (USD Million)
Growing industrial activities in emerging economies is the prime factor which will fuel the pumps market internationally. Pumps usage in building & construction, oil & gas, industrial, municipal and other domestic activities will drive the product market growth globally. Advancing technologies in oil & gas exploration owing to their rising demand in various end-use sector will positively influence the product demand. For instance, over 280 oil & gas rigs were added globally from 2016 to 2017, which will propel the product growth globally for the anticipated timeframe. Moreover, usage of centrifugal pumps for wastewater treatment by various manufacturing industries will propel the product market in the near future.
Fast growing housing demands in the BRICS nations, especially China and India, will propel the global pump demand. For instance, China spends nearly USD 70 billion annually on its building and construction activities due to rising population in the country. On the other hand, India has spent over USD 500 billion in its building & construction sector in 2018, and it is expected to grow with a significant CAGR in future. This has simultaneously increased the product demand for various applications in the sector. Moreover, unceasing oil drilling activities will swell the product demand in the crude oil producing countries in Middle East and Africa. Furthermore, increasing mining activities in emerging economies will further increase the pumps market demand internationally.
High manufacturing, operation and maintenance costs associated with the product may restrain the market. Beside this, fluctuating raw material and component prices may risk operating margin among manufacturers and suppliers globally. However, its growing demand from different end-use sectors will propel the product market during the estimated time period.
Market Segmentation, Outlook & Regional Insights: Pumps Market
Pumps Market, By Product
Based on product, the market is categorized into stationary and portable pumps. Stationary pumps provide constant flow with minimum setup time and are widely used for several applications such in building & construction and industrial dewatering activities. Stationary pumps generated a revenue of USD 60 billion in 2018 and is likely to increase with a CAGR of nearly 2% during the projected timespan.
Analysis By Position
Based on their position, the pumps market size is classified into non-submersible and submersible pumps. The submersible pumps are electric motor driven and require enclosing house owing to its water immersed applications. These pumps are appropriate for usage in high excessive volume areas. Non-submersible pumps generate a revenue of USD 46 billion by 2018 and is likely to lead the segment in future with a CAGR of more than 2% in the coming years.
Pumps Industry, By Driving Force
On the basis of driving force, the pumps market is classified into engine and electrical driven pumps. Here, engine driven type requires petrol or diesel for its operations and are preferred for applications that lack an electric source to power the motors, whereas electrical driven types utilize electric power as a driving force for its operations. Electrical driven types generated a revenue of over USD 55 billion as of 2018 and is likely to drive the product market with a CAGR of around 2.5% during the projected timeframe.
Analysis By Technology
Based on technology, the pumps market share is segmented into diaphragm, centrifugal and other pumps. Centrifugal pumps are among the frequently used types, that utilizes the fundamental of centrifugal force mechanism. These products utilize the force from rotating impellers to circulate water under centrifugal mechanism. Centrifugal pumps offer constant pressure and are suitable as sump pumps for vertical or horizontal configurations. These equipment also provide a high flow rate, that makes them suitable for all types of applications even under low viscosity. Centrifugal pumps generated a revenue of around 50 billion in 2018 and is likely to grow with a CAGR of around 2.5% over the upcoming years.
Pumps find wide application in various industrial sectors along with domestic applications. Building & construction, mining, oil & gas, and industrial segments are among the most general applications of the product. In mining activities, the product finds application for several purposes that primarily include transfer of water, slurry, mine dewatering, mineral processing, reagent dosing, wastewater transfer, etc. The industrial based applications of the product generated a revenue of around USD 30 billion in 2018 and is likely to witness growth with a CAGR of 2.5% in the upcoming years.
Asia Pacific is the global leader in the pumps market share and is followed by North America and Europe. Asia Pacific market valued more than USD 35 billion and is projected to grow with a CAGR of more than 3% during the anticipated timeframe owing to rapidly rising industrial activities in the region. Developing countries such as India, China and Indonesia are the chief contributors for the product market in the region.
Key Players, Recent Developments & Sector Viewpoints: Pumps Market
The key manufacturers in the pumps market share are Atlas Copco, Gorman Rupp, Xylem Inc., Magnum, Flowserve Corp., MultiQuip Generac, Gardner Denver, Ebara Corp., Wacker Neuson, Grundfos, Sulzer Ltd., Shimadzu Corp., Baker Hughes, and Schlumberger.
Pumps is an equipment that circulates gases, liquids and slurries from one place to another by mechanical performance. Pumps are available in different types based on the position, power supply, mechanism, driving force, etc. Pumps find usage in several end-use industries that includes to mining, municipal, oil & gas, food & beverage, agriculture, building & construction, transfer fluids, etc. Industrialization in Asia, South America and eastern Europe will propel the pumps market size during the anticipated timespan
What are the Key Insights Covered: Exhaustive Pumps Market
1. Market size (sales, revenue and growth rate) of Pumps industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Pumps industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Pumps industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Pumps industry.
What is the Research Methodology used: Pumps Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
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