According to MarkNtel Advisors who is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently released a report on Water Pumps Market - Industry Trends and Forecast to 2030 and provides a comprehensive analysis of the current and future market conditions. The market research insights offered in this report enhance understanding of the market landscape, potential challenges, and strategies to establish a strong brand presence. With detailed market segmentation, in-depth analysis of key players, examination of consumer and supply chain trends, and exploration of new geographic markets, the insights presented in this report simplify the effective marketing of products and services.
Global Water Pumps Market Analysis and Size
The Global Water Pump Market size was valued at around USD 45.95 billion in 2023 is estimated to grow at a CAGR of around 4.72% during the forecast period, i.e., 2024-30.
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Some of the major players operating in the Water Pumps Market are Flowserve Corporation, Pentair PLC, Sulzer Limited, Kirloskar Brothers Limited (KBL), Grundfos, Xylem Inc., KSB Group, Wilo, ITT Inc., Torishima Pump MFG. Co. Ltd. and others.
Water Pumps Market Growth Driver:
Extensive Growth of the Oil Gas Industries Augmenting the Demand for Water Pumps – The main sectors in the energy market and important players in the international economy, oil and natural gas, are the main suppliers of fuel worldwide. The International Labour Organisation estimates that the oil sector contributed 3% of GDP in 2020 and that crude oil commerce was worth USD 640 billion, making it one of the most traded commodities globally. For many industries, such as electricity generation, petrochemicals, transportation, etc., oil is an important energy source, which constantly raises demand for it. The continual rise in demand for oil as a critical energy source for a variety of industries, including power generation and transportation, has increased the demand for water pumps used in oil extraction and processing. Furthermore, the major participants in the oil and gas sectors have been presenting strategies to increase their production capacity by constructing new production bases or extending their existing oil manufacturing facilities. For instance,
- In 2023, Hindustan Petroleum Corp. (HPCL) announced plans to start a Barmer refinery and petrochemical project by 2024 in India to reduce petrochemical imports.
Further, the governments of countries such as Brazil, Guyana, etc., are also focusing on strengthening their energy security by planning to establish new oil gas plants. Thus, the inception of new oil gas industries to mitigate the reliance on other countries for oil gas imports would further augment the size volume of the Global Water Pump Market in the coming years.
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Market Segment and Geographical Analysis
By Type
- Centrifugal Pump–Market Size Forecast 2019–2030F, USD Million
- Positive Displacement Pump – Market Size Forecast 2019 – 2030F, USD Million
By End User
- Oil Gas - Market Size Forecast 2019-2030F, USD Million
- Power Generation - Market Size Forecast 2019-2030F, USD Million
- Residential – Market Size Forecast 2019-2030F, USD Million
- Agriculture Irrigation – Market Size Forecast 2019-2030F, USD Million
- Commercial Building – Market Size Forecast 2019-2030F, USD Million
- HVAC – Market Size Forecast 2019-2030F, USD Million
- Chemicals – Market Size Forecast 2019-2030F, USD Million
- Water Wastewater – Market Size Forecast 2019-2030F, USD Million
- Food Beverage – Market Size Forecast 2019-2030F, USD Million
- Others– Market Size Forecast 2019-2030F, USD Million
By Region
- Asia-Pacific
- North America
- South America
- Europe
- Middle East Africa
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