The demand for Water pumps is greater in households and different industries, an increase of population and urbanization especially in the developed and developing countries has high demand for water pumps. There are several challenges in consideration of water resources in these regions and higher investments in water infrastructure in the currently is driving this market. These pumps contributes in the supply of utility water, treatment and removal of impurities from the water. In order to cater the increased need of water supply globally amid of water scarcity there is a substantial backup of the governments in this market. Such support by the governments globally are surging the demand of water pumps for various end-users in the recent year. Chinese government is backing its water resources by significant investments of approximately $112 billion for enhanced water pump infrastructure to meet the water needs of the population. Increased urbanization in various countries fuel the market growth of water pump facilities. Manufacturers of water pump are trying to tap these opportunities to a range customers worldwide.
The Water Pump Market Is Anticipated To Expand Or Exhibit A CAGR Of 4.1% During The Forecast Period.
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By Type, Centrifugal Pumps Segment Is Anticipated For High Demand During The Forecast Period
The centrifugal pumps are highly demand by the companies and are high in their performance. Centrifugal pumps are a rotodynamic pumps required in rotating impeller in increasing the pressure and flow rate of liquids. Its market demand is rising in improving the fluid flow in piping systems. Centrifugal pumps systems includes of two components such as stationary element and rotary element contributing to the enhanced performance. These systems are highly applied for fire protection equipment’s in different industries, hot water circulation systems, wells and buildings. Thus the market growth is high for centrifugal water pump segment during the forecast period.
The Water Pumps Market In Asia Pacific Accounted For A Largest Share In 2018 And Is Expected To Remain Dominant During The Forecast Period
The Asia pacific region estimated for a higher share market by 42.9% in the global water pump industry. The region is expected for an increased market growth rate of water pump. And growth rate has accounted at a CAGR of 6.6% during the forecast period. Vital factors that are driving the water pump products in Asia-Pacific region constitutes of industrialization, increased disposable income and increased urbanization has a substantial contribution to its market growth. Governments in this region are also initiating various schemes in enhancing the water resources and sourcing facilities to cater the household and industrial usage. Another major factor that is driving the water pumps market is rapid industrial developments of different kinds where there is an essential usage of water sourcing and treatment facilities where it could be used at an extensively.
The water pump market is fragmented and has a numerous regional SME’s offering the water pumps of various kinds to the end-users. Increased trend for water pumps in the global market is fueling the market demand of water pumps in the global platform.
Promonent players associated with the manufacturing of water pump systems are listed as follows: Gardner Denver, Inc., Grundfos Holding A/S, Ebara Corporation, The Weir Group PLC., Flowserve Corporation, Torishima Pump Mfg. Co., Sulzer Ltd., ITT Corporation, Kirloskar Brothers Limited, and KSB Aktiengesellschaft.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
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e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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