Water Pump Market to Grow at a Stable Rate During the Forecast Period

CITY, Country, 2019-Jul-19 — /EPR Network/ —The factors driving the growth of the global market include growing construction industry, increasing disposable income, growing water scarcity, rapid industrialization in developing economies, and increasing level of urbanization. By technology, the centrifugal water pump segment accounted for larger share in the total market in 2015, and it is expected to grow at a CAGR of 4.8% during the period 2016 – 2022. Water scarcity is one of the major factors driving the demand for water pumps, as governments around the world are directing industries to recycle and reuse water. In 2011, in its Twelfth Five Year Plan, the Chinese government allocated $60 billion for the urban wastewater system in the country.

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In 2015, Asia-Pacific held the largest share in the global water pump market with 42.9% share. The surging level of urbanization, rapid industrialization and increasing disposable income are some of the major driving forces for the Asia-Pacific water pump market, particularly in countries such as India and China. China is the largest market for water pumps in the region; however, India is expected to witness highest growth in the near future. The impact of massive industrialization in developing countries on the water pumps market is anticipated to remain high during the next few years. This is due to increase in demand for water pumps from industries such as oil & gas, chemical, and energy in these countries.

GLOBAL WATER PUMP MARKET SEGMENTATION
By Technology

• Centrifugal Water Pump
• Positive Displacement Water Pump
  • Rotary
  • Reciprocating
  • Others

By End-User

• Municipal Water and Wastewater
• Chemical
• Oil and Gas
• Energy
• Others

GEOGRAPHICAL SEGMENTATION
By Region

• North America
  • S.
  • Canada
  • Rest of North America
• Europe
  • Western Europe
  • Eastern and Central Europe
• Asia-Pacific
  • China
  • India
  • Rest of Asia-Pacific
• Rest of the World (RoW)

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Among the various end-users, the municipal water and wastewater segment held the largest share in the global water pump market in 2015. The rapid growth of urban population is creating pressure on the existing water infrastructure, which includes delivery of utility water and removal and treatment of wastewater. To meet this growing demand, various governments in Asia and Africa are expected to increase their spending on irrigation and drinking water schemes.

China is the largest market for water pumps in the region; however, India is expected to witness highest growth in the near future. The impact of massive industrialization in developing countries on the water pumps market is anticipated to remain high during the next few years. This is due to increase in demand for water pumps from industries such as oil & gas, chemical, and energy in these countries.

Some of the major players operating in the global water pump market include Flowserve Corporation, Ebara Corporation, Sulzer Ltd., Grundfos Holding A/S, Kirloskar Brothers Limited, KSB Aktiengesellschaft, Gardner Denver Inc., ITT Corporation, Torishima Pump Mfg. Co., and The Weir Group PLC.