Fish Pumps Market to be Dominated by The 2.5’’ Pumps Type Through 2028
The
increasing aquaculture industry is expected to drive the growth of global Fish
Pumps in the forecast period, 2024-2028.
According
to TechSci Research report, “Fish Pumps Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028”, the Global Fish Pumps
Market is anticipated to grow at an impressive rate in the forecast period,
2024-2028. This can be ascribed to the growing demand for the
aquaculture industry across the globe along with increasing concerns about
health people preferring fish products which will enhance the demand for the
fish pump market during the forecasted period. Similarly, growing demand for
convenience food products such as fish products will further boost the growth
of the market over the years. Also, the growing demand for advanced machinery
with high productivity and efficiency in the aquaculture industry will drive
the growth of the market over the years. Additionally, the increasing awareness
and incorporation of fishmeal products in animal diets can boost the growth of
the market. Additionally, increasing investments made by the market players for
the expansion of their products such as different-size pumps propel the growth
of the market in the forecast period. Also, the growing use of automation
in pumps due to their efficiency optimization will further be propelling the
growth of the market during the forecasted period.
However,
a lack of awareness amongst pet fish owners about the availability of various
products required for taking care of their fish may hamper the growth of the
global fish pump market in the forecast period. Similarly, the increasing
cavitation effect in industrial pumps may restrain the growth of the market
during the forecasted period. Also, the high cost of fish pumps and the lack of
availability of the parts of the fish pumps may hamper the Fish Pumps market
growth during the forecast period. Similarly, an increase in consumer appetite
for vegan diets may hamper the growth of the market.
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Global
Fish Pumps market can be segmented by Pump size, mode of operation,
application, and by region.
Based on
Pump Size, the global Fish Pumps market can be segmented into 2.5’’ pumps, 3.4’’ pumps, 4.6’’ pumps, 5.8’’
pumps, 6.10’’ pumps, 7.12’’ pumps, and 8.14’’ pumps. The 2.5’’ pumps segment is expected to dominate
the market in 2022 and is expected to continue maintaining its dominance throughout
the forecast period. Growing demand for transporting small pieces of seafood
and demand for lightweight, perfect hatcheries is expected to boost the growth
of the market during the forecasted period. Similarly, the growing demand for food due to increasing
population and rapid urbanization can enhance the demand for food security
which will increase the demand for the fish product and this in turn will drive
the growth of the market during the forecasted period.
Based on Application, the market can be divided into Fishing, Aquaculture. The Aquaculture segment is expected to dominate
the market in 2022 and is expected to continue maintaining its dominance
throughout the forecast period. The growing demand for an established
aquaculture industry with advanced equipment will increase operation efficiency
to deal with the large volume of fish and this in turn is anticipated to drive
the growth of the market over the years. Similarly, growing innovations across
food sectors that cater to varying requirements of target customers turn out to
be an influential factor in driving the growth of the market over the years.
Major
companies are operating in the global Fish Pumps market:
- Pentair.
- Merck
& Co. Inc.
- PG
Flow Solution As.
- Faivre.
- MMC
First Process As.
- Acuinuga.
- Inventive
Marine Products Limited.
- MJOS
Metallvarefabrikk As
In
May 2022, the Indian Council for Agricultural Research’s (ICARs) National
Bureau of Fish Genetic Resources (NBFGR) took a new initiative to set up a nano
aquarium in Lakshadweep. The concept of table top aquaria will help to
encourage the native community of Lakshadweep to develop such aquaria for
business and generate more income.
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“North
America is expected to dominate and register the highest growth in the Global
Fish Pumps Market on account due to the growing demand for fish and seafood by
expanding middle class in the region. Similarly, the growing feed and livestock
industry which will demand for meat, milk, and egg consumption significantly
increased the demand for fish pump markets during the forecasted period.
Additionally, growing awareness about the usage of fish in livestock feed
applications will further boost the growth of the market over the years. Also,
increasing production via aquaculture will further demand fish pumps market
across the region. Similarly, growing demand for prevention of stagnation and
smooth water circulation in the fisheries industry and handling water with fish
waste has led to an increase in demand for fish pumps thereby creating
lucrative opportunities for market growth” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Fish
Pumps Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028F Segmented By Pump Size (2.5’’
pumps, 3.4’’ pumps, 4.6’’ pumps, 5.8’’ pumps, 6.10’’ pumps, 7.12’’ pumps,
8.14’’ pumps), By Mode of Operation (Manual v/s Automated), By Application
(Fishing, Aquaculture), By
Region, and Competition”, has
evaluated the future growth potential of global Fish Pumps market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global Fish Pumps market.
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