According to a new market research report published by Credence Research “Water Pump Market (By Type (Centrifugal Pump and Positive Displacement Pump) By End-use (Residential, Municipal & Wastewater, Industrial, Power & Energy, and Others) – Growth, Future Prospects and Competitive Landscape, 2017-2025”, water pump market is estimated to grow at a CAGR of 5.5 % from 2017 to 2025.
The complete report is available at http://www.credenceresearch.com/report/water-pumps-market
Water pumps industry has been witnessing significant growth in the recent years on account of factors including rise in residential and commercial infrastructure in developing nations. In addition, growth in the industrial sector, power and energy and agricultural sector has also supported the demand for water pumps considerably. Availability of wide variety of water pumps catering to numerous application and evolution of product for enhanced efficiency and optimum use of power have proven to be key promoting factors in the water pump market.
The overall water pump market is primarily driven by the consistent rise in the residential and commercial projects in developing nation such as China, India and Brazil, among others. With ever increasing demand for fresh water, the demand for water pumps is expected to perpetually grow in the following years. Apart from this, various applications such as water pumps for firefighting and civil defense & riot control purposes are expected to drive the demand for water pumps across the world. The growth of water pumps occurs in tandem with the growth of aforementioned sectors. Consequently, the demand for the water pump is expected to grow consistently throughout the forecast period from 2017 to 2025.
The water pump market is segmented on the basis of type, end-use, and geography. The water pump is classified into the centrifugal pumps and positive displacement pumps according to the type. As of 2016, centrifugal pump segment dominates the market contributing substantial share compared to positive displacement pumps of the total water pump market. Depending on end-use, the water pump market is further classified as residential, municipal and waste water, industrial, power and energy, and others. As of 2016, demand for a water pumps from the residential end-use sector dominated the overall market for the water pump market.
Water pumps market is a mature market and is characterized by a large number of water pump manufacturers. These companies face cut throat competition and need to stay abreast with ever increasing demand for water pumps. Manufacturers are involved in the design and development of improved and energy efficient water pumps. Major players in the market include Flowserve Corporation, Sulzer Ltd., Ebara Corporation, Weir Group plc, Torishima Pump Mfg. Co., ITT Corporation, Gardner Denver, Inc., KSB Aktiengesellschaft, Kirloskar Brothers Limited, and Grundfos Holding A/S.
– Rising human population and growing demand for fresh water
– Consistent development towards improving existing water pumps
– Increasing demand for advanced energy efficient water pumps
– Growing urge for water and energy conservation