Global Industrial Pumps Market, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Industrial Pumps Market” is an upcoming market research report by MarketResearch.biz. In the report, critical data and information on the global industrial pumps market such as market trends, restraints, drivers, potential revenue opportunities, revenue details, market growth opportunities, recent developments, competitive landscape, and details of key players are included. Research findings and conclusions are verified by experts from the industry before being included in the report. The global industrial pumps market research report is segmented on the basis of products, applications, and regions and countries.
Industrial pumps have applications in different industries and play a vital role in moving fluids between sites. These fluids may include water, petroleum, chemicals, sludge, wastewater, oil or slurry. There are industrial pumps with different sizes, shapes, and capacities. End-use industries of industrial pumps include wastewater, water, chemicals, food and beverages, oil and gas, and others. The popular industrial pumps are centrifugal pumps and centrifugal pumps. Due to low cost, long service life, and low maintenance cost, centrifugal pumps are the extensively used types.
Increasing use of industrial pumps in different applications including chemicals and wastewater treatment is one among some of the key factors, which are projected to drive growth of the global industrial pumps market over the forecast period. Moreover, demand for industrial pumps have been increasing due to rising expenditure for infrastructure development in some of the regions. Another factor expected to drive growth of the market is increasing technological advancement. Increasing demand for industrial pumps from various end-use industries and advanced production facilities are expected to further drive growth of the global industrial pumps market over the forecast period. In addition, requirements for industrial pumps have been increasing due to rise in the crude oil production in the global petroleum industry, especially in North America, Middle East, and Africa. Increasing spending by key manufacturers to improve energy efficiency is another factor, which is expected to positively affect in demand for industrial pumps. Owing to rising competition from low coast manufacturers, the global market is highly price sensitive. Thus, the restraining factor for the growth of the global industrial pump market is volatility in the prices. However, substantial exploration activities in both the onshore and offshore unconventional gas and oil sector are projected to create growth opportunities for key players in the market over the forecast period.
Global Industrial Pumps Market Segment Analysis:
By Product: Among the product type segments, the centrifugal segment is expected to contribute highest revenue share over the forecast period in the global industrial pumps market. This can be attributed to its predominant consumption in shop floors and utilities of manufacturing units. Owing to easy availability from suppliers, high market visibility of centrifugal pumps in the manufacturing sector is also attributed to this growth of the segment.
By Application: The water and wastewater segment among the application segments is projected to continue the dominance in terms of revenue share over the forecast period. Moreover, due to increasing urbanization, growing manufacturing activities, and population growth, the water, and wastewater industry has been expanding.
Global Industrial Pumps Market Regional Analysis:
Among the regional markets, the Asia Pacific market is projected to dominate the market over the forecast period in terms of revenue share. This can be attributed to significant growth in various end-use industries such as water and wastewater treatment and oil and gas, which, in turn, increasing demand for industrial pumps. Increasing population and growing industrial sector are expected to remain a key factor driving growth of the market in the region.
Global Industrial Pumps Market Segmentation:
- Oil & Gas
- Power Generation
- Water & Wastewater
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- R. North America, Inc.
- Colfax Corporation
- Flowserve Corporation
- ITT Corporation
- Roper Technologies Inc.
- SPX Flow Inc.
- Vaughan Company Inc.
- Iwaki America Inc.
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