Rising urbanization, stringent regulations by different governments on liquid discharge and growing construction sector to drive global water pumps market through 2023
According to TechSci Research report, “Global Water Pumps Market By Type, By End Use, By Region, Competition Forecast & Opportunities, 2023”, the global water pumps market is projected to surpass $ 74 billion by 2023, on account of rising urbanization and increasing inclination towards energy-efficient water pumps backed by stringent government policies on liquid discharge. Moreover, introduction of innovative pumping solutions by leading manufacturers, rising demand for seal less pumps along with emergence of micro disc pumps is further fueling growth in the global water pumps market.
Browse 28 market data Tables and 106 Figures spread through 150 Pages and an in-depth TOC on “Global Water Pumps Market”
On the basis of types, global water pumps market can be categorized into centrifugal and positive displacement pumps. Centrifugal pumps hold majority share in the global water pumps market and are likely to maintain their dominance during forecast period as well. However, positive displacement water pumps are also anticipated to witness growth as they are used for specialized applications where fluid has to be moved at constant speed. Asia-Pacific dominated the global water pumps market in 2017, owing to the rising demand for water pumps from various sectors such as building services, mining, oil & gas and pharmaceutical, etc. Moreover, countries such as China, India and Japan are increasing their investments on treating wastewater generated from industries to reduce carbon footprint, which is also expected to augment demand for water pumps in the coming years. Further, growing investments in construction sector with Smart City projects in countries like India, China and South Korea is further anticipated to boost demand for water pumps across the region during the forecast period.
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Rising inclination towards solar pumps across different sectors is further boosting the sales of water pumps across the globe. “Xylem, followed by Flowserve, are the leading players in the global water pumps market, owing to their innovative product solutions and wide distribution networks. Moreover, rising demand for magnetic drive pumps and screw pumps for mobile water treatment is further driving growth in the global water pumps market. Growing demand from sub-sets of building services application such as HVAC and pumping would also propel water pump sales, globally, over the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Water Pumps Market By Type, By End Use, By Region, Competition Forecast & Opportunities, 2023” has evaluated the future growth potential of global water pumps market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global water pumps market.
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