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In a new report titled “Pumps Market: Global Industry Analysis and Forecast, 2016 –
2024”, Persistence Market Research analyzes the performance of the global pumps
market over an eight-year period and provides insights on the key factors and trends
likely to influence the market during the forecast period (2016 – 2024). The global
pumps market is projected to register a CAGR of 4.6% in terms of revenue and 4.2%
in terms of sales volume between 2016 and 2024.
Increasing investment in infrastructure, sanitation, and water and wastewater
management in the Middle East and Asian countries such as GCC countries, India,
and China is likely to boost the sales revenue of the global pumps market over the
forecast period. Further, increasing demand for electricity across the world is
strengthening the global power sector; with pumps being an integral part of each
power plant, development in the power sector is expected to contribute significantly
to the growth of the global pumps market through 2024. However, low-priced
offerings by Chinese pump manufacturers and low replacement rates due to durable
life and energy efficient centrifugal pumps are factors that are likely to restrict the
growth of the global pumps market over the forecast period.
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Rising demand for energy efficient centrifugal pumps and the adoption of micro disc
pumping and variable frequency drive technology for centrifugal pumps are some of
the key trends observed in the global pumps market.
On the basis of product type, the Centrifugal Pumps market is segmented into Singlestage Pump, Multi-stage Pump, Axial & Mixed Flow Pump, Submersible Pump, and
Sealless & Circular Pump. On the basis of product type, the Positive Displacement
Pumps market is segmented into Reciprocating Pump and Rotary Pump. On capacity
basis (HP), each pump segment type is further sub-segmented into Small Pump,
Medium Pump, and High Pump. On the basis of application, the Centrifugal Pumps
market is segmented into Agriculture & Irrigation, Domestic, Mining, Oil & Gas,
Other Industrial, Wastewater Treatment (Effluent Treatment Plant, Sewage Treatment
Plant), and Water Treatment (Industrial Process, Municipal & Commercial Facilities).
On the basis of application, the Positive Displacement Pumps market is segmented
into Chemical, Oil & Gas, Power, Pulp & Paper, Water & Wastewater Treatment, and
Others.
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The Centrifugal Pumps segment is estimated to be valued at US$ 32.18 Bn by the end
of 2016 and is expected to increase to US$ 46.22 Bn by the end of 2024, registering a
CAGR of 4.6% during the forecast period. The Positive Displacement Pumps
segment is expected to create incremental $ opportunity of US$ 981.1 Mn between
2016 and 2024. The Wastewater Treatment application segment is expected to
account for 24% revenue share of the Centrifugal Pumps market by the end of 2024
while the Water Treatment application segment is expected to register a CAGR of
5.4% over the forecast period. The Water & Wastewater Treatment application
segment is estimated to account for 21.3% revenue share of the Positive
Displacement Pumps market by the end of 2024.
The global pumps market is segmented into the five key regions of North America,
Latin America, Europe, APAC, and the Middle East & Africa (MEA). The APAC
region is estimated to dominate the global pumps market in terms of revenue with
38.5% share by 2016 end. Sales of pumps in the North America and Europe regions is
estimated to collectively account for 48.8% share by the end of 2016. The report
features some of the leading companies operating in the global pumps market. Market
players featured in the report are KSB AG, Flowserve Corporation, Sulzer AG, Ebara
Corporation, Grundfos, The Weir Group Plc., WILO SE, Xylem Inc., Ruhrpumpen
Group, and Kirloskar Brothers Ltd. Top market companies are focusing on structured
innovation and are expanding their production and research facilities to strengthen
their presence in the global pumps market. Some of the major pumps companies are
also making aggressive investments to expand their presence in emerging markets,
especially in China, the Middle East, and India.
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