Global Water Pump Market: Mainly Propelled by increasing urbanization and industrialization

According to the latest report published by Variant Market Research, the global water pump market size is projected to reach $67.9 Billion by 2024 from $44.3 Billion in 2016. In this report, global water pump market forecast says that the global market is growing at 5.5% CAGR from 2017 to 2025.
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High demand for water pumps from numerous sectors fuels, the global water pump market
Water scarcity in certain parts of the sphere, and increasing usage of water pump in various sector such as fire protection system, buildings, wells, and hot water circulation in industries are the global water pump market trends. Though, availability of substandard pumps and high competition are the restraints of the global water pump market growth. Moreover, increasing investment in energy and power sector in developing economies, increasing construction of wastewater treatment plants and water recycling plants globally would provide lucrative opportunities to the market.
Market Segmentation
End-user, technology, and geography are the classifications of the water pump market. positive Displacement water pump and centrifugal water pump are the bifurcations of technology segment. By end-user, the market is categorized into municipal water & wastewater, oil & gas, chemical, energy, and others.
On the basis of geography, global water pump market is categorized into North America, Europe, Asia- Pacific, and Rest of the World (RoW). North America is further segmented into U.S., Canada, and Mexico whereas Europe segment includes of UK, Germany, France, Italy, and others. Asia-Pacific is bifurcated into India, China, Japan, South Korea, and others while RoW segment consist Middle East, South America, and Africa.
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Centrifugal water pump, by technology occupied the largest global water pump market share in the year 2016
In the year 2016, centrifugal water pump anticipated the technology segment with largest market share during the forecast period owing to widely usage in buildings, wells, hot water circulation in industries, and fire protection system. While, positive displacement water pump is expected to dominate with fastest CAGR throughout the forecast period.
Municipal water & wastewater, and chemicals both the segment, by end use anticipated to attain maximun share during the forecast period.
In the end user, together Municipal water & wastewater, and chemicals segment will attain largest market share throughout the forecast period 2016 – 2024 owing to rapid growth of urban population is making pressure on the present water infrastructure, that comprises delivery of utility water, and treatment of wastewater. To meet this rising need, numerous governments in Africa and Asia are projected to increase their expenditure on irrigation and drinking water systems.
Asia-Pacific dominated the leading share in the global Water Pump Market
In the year 2016, Asia-Pacific generated the highest market share with about 42.9% in 2016 and continue its dominance during the forecast, driven by the factor such as surge in brownfield projects, increased used for pumps in agriculture sector, and increasing disposable income. Moreover, countries like Trinidad & Tobago, Myanmar, US, New Zealand, Australia, are witnessing a high demand in the global water pump market.
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Competitive Landscape
Key players profiled in the report include Gardner Denver, Inc., Weatherford International Inc., Sulzer Ltd., Torishima Pump Mfg. Co., PROCON Products, Kirloskar Brothers Limited, General Electric Company, Weir Group PLC, ITT Inc., KSB Group, and among others.
Scope of Water Pump Market
Technology Segments
• Centrifugal Water Pump
• Positive Displacement Water Pump
End-User Segments
• Municipal Water & Wastewater
• Chemical
• Oil & Gas
• Energy
• Other End-Users
Geography Segments
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Russia
o Germany
o France
o Italy
o Others
• Asia-Pacific
o India
o China
o Japan
o South Korea
o Others
• RoW
o South America
o Middle East
o Africa
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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