According to a new market research report published by Credence Research “Global Dewatering Pumps Market (Type (Submersible Dewatering Pumps, Non-submersible Dewatering Pumps); Application (Construction & Agriculture, Oil & Gas, Municipal, Mineral & Mining, Others)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall dewatering pumps market worldwide was valued at US$ 6.80 billion in 2018 and is expected to expand with a CAGR of 6.4 per cent during the forecast period.
The worldwide market for dewatering pumps is strongly influenced by increasing urbanization and growth in the oil and construction sectors worldwide. Dewatering pumps are portable devices that are installed at low floor level building locations and are used to keep and regulate groundwater concentrations. In addition, these are cost-effective facilities that assist operators or in-charges at the locations to operate without any disruption by eliminating water problems.
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The government of multiple nations, such as the United Arab Emirates, South Africa and Morocco, focuses on the distillation of drinking water from multiple locations and underwater sources, which is a significant driver of the dewatering pump industry. In addition, different businesses are creating new technologies that are also anticipating market growth. For example, ARO Fluid Management has introduced the P35A1-EU submersible dewatering pump, which can handle a broad range of debris-loaded apps.
Based on the implementation, the market for dewatering pumps has been segmented as building & agriculture, petroleum & gas, municipal, mineral & mining, and others. The oil & gas segment is regarded to be the dominant segment owing to the growing use of dewatering pumps in these apps and their capacity to pump fluids from the seas and underground. In addition, submersible pumps provide an effective type of artificial lift that decreases manual job.
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North America holds the second largest market share in the dewatering pumps market due to presence of various oil and gas industries present in the region. Additionally, the presence of various key players in the region which are investing highly in developing new technology and pumps which leads the growth of the market. The US in the region holds the largest market share followed by Canada.
Some of the prominent players operating in the dewatering pumps market include Grundfos AS, Sulzer Ltd., The Weir Group, Ebara Corporation, Xylem Inc., KSB Pumps Ltd., Wacker Neuson SE, TSURUMI MANUFACTURING CO., LTD., American Honda Motor Co., Inc., Nanfang Pump Industry Co., Ltd., Zoeller Pump Company, Mersino Dewatering, Zhejiang EO PumpVertiv Co, and Veer Pump Industries.