NEW YORK, Jan. 20, 2022 /PRNewswire/ -- The pumps
market share growth by the centrifugal pumps segment will be
significant for revenue generation. Centrifugal pumps are the most
preferred choice in the process and discrete industries. These
pumps work on the rotational motion of the impeller, which is
fitted inside the pump. The demand for these pumps is expected
to continue growing during the forecast period as many investments
have been made in these industrial sectors, leading to their
increased use.
To gain insights on the market
contribution of various segments - Download our
FREE sample report
Pumps Market Report Highlights:
- Market growth 2021-2026: USD 22.14 billion
- Growth momentum & CAGR: Accelerate at a CAGR of 5.73%
- YoY growth rate: 5.20%
- Performing market contribution: APAC at 50%
- Geography: APAC, Europe,
North America, South America, and MEA
Pumps Market 2022-2026: Segmentation
- Product
-
- Centrifugal Pumps
- Specialty Pumps
- Positive Displacement Pumps
- End-user
-
- Oil And Gas
- Water And Wastewater
- Chemical
- Building
- Others
- Geography
-
- APAC
- Europe
- North America
- South America
- MEA
Regional Market Analysis
With 50% of the growth originating from APAC, this region will
record a fast growth rate during the forecast period. China
and Germany are the key markets
for the pumps market in APAC. Market growth in this region will be
faster than the growth of the market in other
regions.
- APAC would be registering strong economic growth during the
forecast period. Besides China and
India, countries such as
Bangladesh, the Philippines, Vietnam, and Indonesia register high growth rates. The
demand for chemical products is increasing in the region to address
the rising need of different industries, such as pharmaceuticals,
food and beverage, construction, and water and wastewater, which
require a large volume of chemical products. Therefore, several
regional and multinational chemical companies are setting up their
manufacturing facilities in APAC.
For Additional Information about the regional
market: Request for a free sample report.
Key Vendors and Vendor Strategies
Alfa Laval AB, Danfoss AS, Dover Corp., Flowserve Corp., General
Electric Co., Grundfos Holding AS, Ingersoll Rand Inc., Robert
Bosch GmbH, Sulzer Ltd., and The Weir Group Plc are a few of the
key vendors in the Pumps Market.
The vendors in the market are constantly focusing on broadening
their product portfolio through expanding their product offerings.
Additionally, vendors are focusing on expanding their presence in
new regions.
Few vendors with key offerings:
- Alfa Laval AB - The company offers pumps that are
used for evaporation, high-pressure, self-priming, and high-purity
applications, under the brand name Alfa Laval.
- Danfoss AS - The company offers pumps that can be
used in almost any application for land-based, offshore, or marine,
under the brand name of Danfoss.
- Dover Corp - The company offers pumps that are made
of cast iron frame and cylinder construction where there are
separately cast cylinders with deep radial fins for improved
cooling, under the brand name of Dover.
Download our free sample report to gain
information of all major vendors with their key offerings
Key Market Drivers
Our analysts have extensively outlined the information on the
key market drivers and their impact on the Pumps Market.
- Rising focus on improving energy efficiency in
industries:
-
- The rising focus on improving energy efficiency in industries
is one of the key factors driving the Pumps market share growth.
One of the major consumers of energy-intensive equipment is
the pulp and paper chemical industry. The use of pumps in
industries helps in reducing carbon emissions in industrial
facilities, helping industries to achieve their energy efficiency
targets. Meanwhile, the increasing emphasis on energy
efficiency and reduction of emissions has led to a shift toward
energy-saving concepts including cost-effective computer-based
control systems, which can monitor and control mechanical and
electrical equipment such as ventilation systems.
To know about a few other market drivers,
trends, and challenges -Download our free sample report
Related Reports -
Industrial Pumps Market -The industrial pumps market
share should rise by USD 20.03 billion from 2022 to
2026 at a CAGR of 5.85%. Download a free sample now!
Screw Pumps Market -The screw pumps market share is
expected to increase by USD 1.05
billion from 2021 to 2026, and the market's growth
momentum will accelerate at a CAGR of 6.43%.Download a free sample
now!
Pumps Market
Scope
|
Report
Coverage
|
Details
|
Page
number
|
120
|
Base year
|
2021
|
Forecast
period
|
2022-2026
|
Growth momentum &
CAGR
|
Accelerate at a CAGR
of 5.73%
|
Market growth
2022-2026
|
USD 22.14
billion
|
Market
structure
|
Fragmented
|
YoY growth
(%)
|
5.20
|
Regional
analysis
|
APAC, Europe, North
America, South America, and MEA
|
Performing market
contribution
|
APAC at
50%
|
Key consumer
countries
|
China, US, Russian
Federation, Japan, and Germany
|
Competitive
landscape
|
Leading companies,
competitive strategies, consumer engagement scope
|
Companies
profiled
|
Alfa Laval AB,
Danfoss AS, Dover Corp., Flowserve Corp., General Electric Co.,
Grundfos Holding AS, Ingersoll Rand Inc., Robert Bosch GmbH, Sulzer
Ltd., and The Weir Group Plc
|
Market
Dynamics
|
Parent market
analysis, Market growth inducers and obstacles, Fast-growing and
slow-growing segment analysis, COVID-19 impact and future consumer
dynamics, market condition analysis for the forecast
period,
|
Customization
purview
|
If our report has not
included the data that you are looking for, you can reach out to
our analysts and get segments customized
|
About Us
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