Asia Pacific to Continue Dominating Global Water Pumps Market through 2023
Rising urbanization, stringent
regulations by different governments on liquid discharge and growing
construction sector to drive global water pumps market through 2023
According to TechSci Research report, “Global Water Pumps Market By Type, By End Use, By Region,
Competition Forecast & Opportunities, 2023”, the global
water pumps market is projected to surpass $ 74 billion by 2023, on account of rising
urbanization and increasing inclination towards energy-efficient water pumps
backed by stringent government policies on liquid discharge. Moreover, introduction
of innovative pumping solutions by leading manufacturers, rising demand for
seal less pumps along with emergence of micro disc pumps is further fueling
growth in the global water pumps market.
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Tables and 106 Figures spread through 150 Pages and an in-depth TOC on "Global
Water Pumps Market"
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On the basis of types, global water pumps
market can be categorized into centrifugal and positive displacement pumps. Centrifugal
pumps hold majority share in the global water pumps market and are likely to
maintain their dominance during forecast period as well. However, positive
displacement water pumps are also anticipated to witness growth as they are
used for specialized applications where fluid has to be moved at constant
speed. Asia-Pacific dominated the global water pumps market in 2017, owing to
the rising demand for water pumps from various sectors such as building
services, mining, oil & gas and pharmaceutical, etc. Moreover, countries
such as China, India and Japan are increasing their investments on treating
wastewater generated from industries to reduce carbon footprint, which is also
expected to augment demand for water pumps in the coming years. Further, growing investments in construction sector
with Smart City projects in countries like India, China and South Korea is
further anticipated to boost demand for water pumps across the region during
the forecast period.
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Rising inclination
towards solar pumps across different sectors is further boosting the sales of water
pumps across the globe. “Xylem,
followed by Flowserve, are the leading players in the global water pumps market,
owing to their innovative product solutions and wide distribution networks. Moreover,
rising demand for magnetic drive pumps and screw pumps for mobile water
treatment is further driving growth in the global water pumps market. Growing demand
from sub-sets of building services application such as HVAC and pumping would also
propel water pump sales, globally, over the coming years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Water Pumps Market By
Type, By End Use, By Region, Competition Forecast & Opportunities, 2023” has
evaluated the future growth potential of global water pumps market and provides
statistics and information on market structure, size, share and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers to take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global water pumps market.
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