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.
[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]
The water pump industry has seen substantial growth in recent years due to factors such as the increase in residential and commercial infrastructure in developing countries. In addition, development in the manufacturing, oil and energy sectors and in the agricultural sector has also significantly boosted the market for water pumps. The development of a wide range of water pumps for a wide range of applications and the advancement of the device for improved efficiency and efficient use of power has proved to be key promoters in the market for water pumps.
The overall market for water pumps is driven primarily by a steady increase in residential and commercial projects in developing countries such as China, India and Brazil, among others. With ever-increasing demand for fresh water, the demand for water pumps is expected to continue to rise in the years to come. In addition, various applications such as water pumps for firefighting and civil defense and riot control purposes are expected to drive demand for water pumps around the world. The growth of water pumps occurs in parallel with the growth of the above-mentioned sectors. As a result, demand for water pumps is expected to increase steadily over the forecast period from 2017 to 2025.
The market for water pumps is segmented by size, end-use and geography. The water pump is categorized as centrifugal pumps and positive displacement pumps by form. As of 2016, the centrifugal pump segment dominates the market, contributing a significant share compared to the positive displacement pumps of the total market for water pumps. Depending on the end-use, the demand for water pumps is further categorized as residential, municipal and wastewater, manufacturing, power and energy, and others. As of 2016, the demand for water pumps from the residential end-use sector dominated the overall market for water pumps.
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