July 18, 2022 05:28 ET | Source: Research and Markets Research and Markets
Dublin, July 18, 2022 (GLOBE NEWSWIRE) -- 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
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. Market Segmentation
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 Introduction 8.1 Overview 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 Product 13.1 Market Snapshot & Growth Engine 13.2 Market Overview 14 Centrifugal 14.1 Market Snapshot & Growth Engine 14.2 Single-Stage 14.3 Multi-Stage 14.4 Submersible 14.5 Turbine 14.6 Others 15 Reciprocating 15.1 Market Snapshot & Growth Engine 15.2 Piston 15.3 Diaphragm 16 Rotary 16.1 Market Snapshot & Growth Engine 16.2 Gear 16.3 Lobe 16.4 Peristaltic 16.5 Vane 16.6 Others 17 End-User 17.1 Market Snapshot & Growth Engine 17.2 Market Overview 18 Industrial 18.1 Market Snapshot & Growth Engine 18.2 Oil & Gas 18.3 Water & Wastewater 18.4 Food & Beverage 18.5 Chemical 18.6 Power 18.7 Mining 18.8 Pharmaceutical 18.9 Others 19 Agricultural 19.1 Market Overview 20 Commercial 20.1 Market Overview 21 Residential 21.1 Market Overview 22 Geography 22.1 Market Snapshot & Growth Engine 22.2 Geographic Overview 23 Apac 23.1 Market Overview 23.2 Market Size & Forecast 23.3 Product 23.4 Centrifugal 23.5 Reciprocating 23.6 Rotary 23.7 End-User 23.8 Industrial 23.9 Key Countries 24 Europe 24.1 Market Overview 24.2 Market Size & Forecast 24.3 Product 24.4 Centrifugal 24.5 Reciprocating 24.6 Rotary 24.7 End-User 24.8 Industrial 24.9 Key Countries 25 North America 25.1 Market Overview 25.2 Market Size & Forecast 25.3 Product 25.4 Centrifugal 25.5 Reciprocating 25.6 Rotary 25.7 End-User 25.8 Industrial 25.9 Key Countries 26 Middle East & Africa 26.1 Market Overview 26.2 Market Size & Forecast 26.3 Product 26.4 Centrifugal 26.5 Reciprocating 26.6 Rotary 26.7 End-User 26.8 Industrial 26.9 Key Countries 27 Latin America 27.1 Market Overview 27.2 Market Size & Forecast 27.3 Product 27.4 Centrifugal 27.5 Reciprocating 27.6 Rotary 27.7 End-User 27.8 Industrial 27.9 Key Countries 28 Competitive Landscape 28.1 Competition Overview 29 Key Company Profiles 29.1 Alfa Laval 29.2 Wilo 29.3 Xylem 29.4 the Weir Group 29.5 Torishima 29.6 Sulzer 29.7 Spx Flow 29.8 Ksb 29.9 Kirloskar Brothers 29.10 Franklin Electric 29.11 Flowserve 29.12 Desmi 29.13 Circor 29.14 Baker Hughes 29.15 Nikkiso 30 Other Prominent Vendors 30.1 Arian Pumps 30.2 Ar North America 30.3 Bosch Rexroth 30.4 Cp Pumpen AG 30.5 Dover 30.6 Masdaf 30.7 Norm Hydrophore Pump 30.8 Sempa 30.9 Sumak Pump 30.10 Vesta Pump 30.11 Vansan 30.12 Samsun Makina Sanayi 30.13 Sahinler Submersible Pumps 30.14 Pumpport 30.15 Jetox Pumps 30.16 Ebara 30.17 Grundfos 30.18 Global Pump 30.19 Haight Pumps 30.20 Hermetic-Pumpen 30.21 Iwaki America 30.22 Klaus Union 30.23 Kracht 30.24 Leistritz Group 30.25 Naniwa Pump 30.26 Netzsch 30.27 Pentair 30.28 Roper Pumps 30.29 Ruhrpumpen 30.30 Seko 31 Report Summary 32 Quantitative Summary 33 Appendix For more information about this report visit https://www.researchandmarkets.com/r/xd8xbx