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A new market research report by Future Market Insights investigates the sea water pumps market and provides key insights for the forecast period. As per the study, the global sea water pumps market is anticipated to experience significant growth over the forecast period, due to multiple driving factors such as increase in ship building activities and rise in the number of desalination plants being set up across several geographies.
The global sea water pumps market is estimated to be valued at US$ 1.3 Bn in 2022, increasing at a CAGR of 4.3% from 2022 and 2028. Growth is also being driven by the need to replace old sea water pumps and innovation in pump technology.
Sea water pumps are large, powerful pumps that are used to transfer or circulate sea water in a variety of applications. They are increasingly being used in ship water cooling systems, desalination plants, and oil refineries.
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Key Takeaways of Sea Water Pumps Market Study
“Sea water pumps are utilized in a variety of applications, ranging from ship building to desalination plants. Each of the applications has a different requirement, and therefore, enterprises are developing products as per specific demand.”
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Sea Water Pumps Market by Category
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Sea Water Pumps Market: Vendor Insights
The report highlights some of the prominent market players who have established themselves as leaders in the global sea water pumps market, such as KSB SE & Co. KGaA, Xylem Inc., Sulzer Ltd, Torishima Pump Mfg. Co., Danfoss A/S, ITT INC., Flowserve Corporation, Ebara Corporation, WILO SE, Grundfos Holding, The Weir Group PLC, Alfa laval, Kubota Corporation, AxFlow Holding AB, Kirloskar Brothers Ltd., Franklin Electric Co. Inc., Tsurumi Manufacturing Co. Ltd., Schlumberger Limited, and Eureka Pumps AS, among others.
The global seawater pumps market is significantly consolidated, with a few players holding prominent shares of the market. Tier-1 manufacturers account for 20%-25% share of the global market.
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About Us: Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 6-years.
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The post Sea Water Pumps Market Is Anticipated To Grow At A Moderate CAGR Of 4.3% Between 2022-2028 appeared first on Future Market Insights.
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