The water pumps market is expected to grow at a compound annual growth rate of 6%. The growth can be attributed to rising urbanization, industrialization, and industrial use. Water pumps move water through a pipeline system and build enough pressure for its intended use by employing various mechanical and hydraulic principles. A pump gets the power through an electric motor to transform kinetic or rotational energy into hydrodynamic energy for fluid flow. Water pumps have existed in some form or another since the dawn of civilization. Water pumps are employed in a wide variety of applications today, including domestic, agricultural, municipal, and industrial. Water pumps, in particular, are widely used in agriculture to transport water from a water source such as a dam, river, or borehole. This report covers all the quantitative components of the water pump industry and also discusses its major drivers, the obstacles they confront, the market's development potential, and its future prospects.
The increasing need for wastewater treatment in the industrial sector is expected to drive up demand for water pumps in the coming years. Furthermore, ongoing developments in the industrial sector, particularly in power and energy, and agriculture, have significantly increased the current demand for water pumps. The water pump market is expected to grow in the near future as a result of several government programmes to recycle wastewater in order to prevent water pollution globally. The need to consume clean water to maintain a healthy and disease-free lifestyle, the development of water recycling industries, and the rising demand for solar water pumps are all expected to generate substantial growth potential for participants in the water pump market in the coming years. Certain factors, however, impede the water pumps market, the increasing threat posed by unorganised competitors in the Asia-Pacific, particularly in the agricultural sector. Poor farmers in underdeveloped nations are price sensitive and prefer to acquire low-cost water pumps over branded pumps.
The market has been segmented based on type, end-user, and region. Based on the type segment, the water pumps market is divided into centrifugal, positive displacement, and axial-flow. Centrifugal water pumps are widely used in industrial applications such as buildings, wells, fire protection systems, and hot water circulation. In hydraulic systems, positive displacement water pumps are employed. Centrifugal pumps dominated the water pump market, accounting for more than half of the market share. A large number of applications involve centrifugal pumps and can be employed in diverse configurations such as axial and mixed flow pumps, single-step pumps, submersible pumps, multi-stage pumps and sealless and circulatory flow pumps to solve the flow control difficulties in various end uses. Based on end-user, the market is divided into industrial, municipal, agriculture, and domestic. The general industrial sector dominated the market owing to the increasing urbanization and industrialization in countries like India and China.
Based on regional segmentation, the water pump market has been divided into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa. The Asia Pacific region leads this market. This geographic expansion might be ascribed to ongoing infrastructural developments in developing nations like China and India. Furthermore, the region's rising reliance on groundwater for agricultural and irrigation uses as a result of erratic monsoons is expected to drive up water pumps demand in the coming years. Over the next few years, North America is expected to provide considerable growth possibilities. Increasing domestic activities in developed countries such as Canada and the United States are expected to drive the region's water pump market growth. Furthermore, increased government initiatives in the United States to recycle wastewater are expected to drive the North American water pumps market over the forecast timeframe.
Gardner Denver, Torishima Pump Mfg. Co., Ltd., Kirloskar Brothers Limited, Baker Hughes Incorporated, Weatherford International Inc, General Electric Company, Ebara Corporation, V-Guard, CRI Pumps Pvt. Limited, and Xylem Inc. are the major players in this market. Players have utilized a range of marketing techniques to stay competitive in the worldwide water pumps market, including new product launches, expansion, joint ventures, and acquisitions. The report contains a thorough examination of leading companies as well as a discussion of the market competing. Product launching is a crucial tactic for the key players in the water pumps market.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Water Pumps market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
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End-User
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
