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.
According to MarkNtel report, the global water pumps market is expected to exhibit a CAGR of around 4.72% during 2024-2030.
NEW HAVEN, CONNECTICUT, USA, July 22, 2024 /
EINPresswire.com/ -- 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. Growing urbanization in the different countries has led to the enlargement of towns as well as the migration of the population from rural to urban areas. There is extensive urbanization in developing regions which includes the Asia-Pacific, the Middle East, and the African region, because of which the development of residential & commercial spaces has grown more in these regions. Subsequently, enhancing the need for proper water supply & management.
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Water Pump Market Trend:
The Emergence of Smart Water Pumps to Augment Market Growth – Climate change and the wastage of water resources by water pump solutions pose a significant threat to water management systems. The depleting water level in countries worldwide has created a demand for intelligent solutions to address the water waste issue.
Therefore, motor pump manufacturing companies such as Grundfos, Xylem, etc., have been offering end-consumers advanced water pump solutions. These solutions are equipped with advanced monitoring and control systems that optimize energy consumption.
Moreover, these intelligent pumps adjust their speed and operation based on real-time water demand, reducing energy waste and lowering electricity bills. Thus, end-user industries and consumers are gradually inclining towards intelligent water pump technology.
Global Water Pumps Market Segmentation:
Our report categorizes the market by region, type, end user, and pump capacity.
• By Type - Centrifugal Pump, Positive Displacement Pumps
• By End User - Oil & Gas, Power Generation, Residential, Agriculture & Irrigation, Commercial Building, HVAC, Fire, Chemicals, Food & Beverage, Others
• By Country - China, India, Japan, South Korea, Southeast Asia, Rest of Asia-Pacific
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Based on Type:
• Centrifugal Pumps
• Positive Displacement Pumps
Centrifugal pumps are high-speed pumps that cause the shearing of fluid, making them suitable for the transportation of low-viscosity materials. The centrifugal pumps segment holds a significant share globally due to their extensive uses in irrigation industries, fluid transportation in manufacturing units & factories, water supplies in residential & commercial spaces, firefighting vehicles, etc.
Based on End User:
• Oil & Gas
• Power Generation
• Residential
• Agriculture & Irrigation
• Commercial Building
• HVAC
• Chemicals
• Water & Wastewater
• Food & Beverage
• Others
The power generation segment holds a significant market share due to the increasing demand for energy and the need for continuous power supply to cities and industrial units. Significant investments from both the private and public sectors in establishing new renewable power units have driven a global increase in the demand for water pumps.
Regional Insights: Asia-Pacific Set to Capture Significant Market Share
Geographically, the Global Water Pump Market expands across:
• Asia-Pacific
• North America
• South America
• Europe
• The Middle East & Africa
The Asia-Pacific region captured the largest share of the Global Water Pump Market because of sizable agricultural lands and a boom in the end-user industries, consisting of water & wastewater treatment and food & beverages, among others, which is augmenting the demand for water pumps in the region.
Leading Companies Operating in the Global Water Pump Market:
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
Other Reports of MarkNtel Advisors:
Latin America Irrigation Water Pumps Market:
https://www.marknteladvisors.com/research-library/latin-america-irrigation-water-pumps-market.html
Egypt Domestic Water Pump Market:
https://www.marknteladvisors.com/research-library/egypt-domestic-water-pump-market.html
Middle East & North Africa (MENA) Centrifugal Water Pumps Market:
https://www.marknteladvisors.com/research-library/mena-centrifugal-water-pumps-market.html
Middle East & North Africa Water Pumps Market:
https://www.marknteladvisors.com/research-library/middle-east-north-africa-water-pumps-market.html
About Us:
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We, being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have been in the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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