Le Lézard
Classified in: Covid-19 virus
Subject: SVY

Global Pump Market Outlook and Forecast Report 2020-2025:Technological Upgrades, Energy Efficiency and Digitalization is Expected to Boost the Competition in the Market

DUBLIN, Nov. 30, 2020 /PRNewswire/ -- The "Pump Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

Research and Markets Logo

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Pump Market Report

The global pump market by revenue is expected to grow at a CAGR of close to 5% during the period 2019-2025.

The industry is expected to witness truncated growth on account of the outbreak of the COVID-19 pandemic. The pump sale in the APAC region is expected to have steady growth, with the increasing expenditure on infrastructural development projects and investment is likely to aid market growth. Several Asia Pacific countries, including China and India, are expected to witness remarkable gains with expansion in agriculture, industrial, and building services sectors during the forecast period.

In 2019, the US was the third-largest market owing to its strong process manufacturing firms, wastewater treatment plants, and the well-established oil and gas industries. Although growth modalities in major industries such as oil & gas, maritime, pulp & paper, and metals and mining have temporarily suppressed in 2020 on account of the pandemic, the demand for freshwater supplies and sanitation is expected to influence the market in developing countries.

Pump Market Segmentation

The global pump market research report includes a detailed segmentation by product type, end-user, geography. The global centrifugal pump market is expected to reach over $56 billion by 2025. Although the product centrifugal devices are experiencing increased applications across end-user sectors, they are particularly useful for low viscosity and thin materials such as liquids or wastewater. They have a high demand in China, India, Vietnam, and other Asian countries in the power plants sector. High demand from the water and wastewater industry in North America and APAC is expected to augur well for the growth of the centrifugal segment. Single Stage, Multistage, Submersible, and Turbine are the major revenue contributors to the centrifugal market.

The demand for the pump is expected from end-user industries such as oil and gas, water and wastewater, chemicals and petrochemicals, and the mining industry. The recovery in crude oil prices and the increasing volume of onshore and offshore fields, including development, evaluation, and construction activities of the fields will lead to an expansion in the oil & gas sector. The expansion is expected to contribute to the development of deep-water offshore enterprises, for deeper offshore areas, thereby increasing demand for centrifugal, particularly submersible pump.

Insights by Geography

Improving economic conditions in the APAC region are projected to generate enormous opportunities for pump manufacturers. In developing countries, high competition from low-cost suppliers and the extreme impact of the recent recession are major barriers to the pumping industry development in the region. The Chinese pump market is expected to grow at a healthy rate during the forecast period owing to several developments in the country.

The demand has been growing as several markets grow in the country with higher investment. The rising demand for aerosol products has increased the demand for pumps in Japan. The pump market in India is highly fragmented and competitive with a large number of small and medium-sized companies aiming to increase the market share. Madhya Pradesh, Maharashtra, Tamil Nadu, Karnataka, and Andhra Pradesh are the major markets of agricultural pumping systems in India.

Insights by Vendors

The global pump market is highly competitive, and the major key competitive factors are differentiating product line along with efficiency, product reliability, service capabilities, and cost-efficiency. Vendors are actively investing in R&D to develop fundamental technology to establish competitiveness. They are differentiating themselves by enhancing product development, focusing on aftersales services, and increased operational efficiency. A high level of competitive capability through technological upgrades, particularly in the area of energy efficiency and digitalization, is expected to boost the competition in the market.

Key Questions Answered

Market Dynamics

Market Opportunities & Trends

Market Growth Enablers

Market Restraints

Prominent Vendors

Other Prominent Vendors

For more information about this report visit https://www.researchandmarkets.com/r/sbwen

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

These press releases may also interest you

at 20:25
Aurinia Pharmaceuticals Inc. ("Aurinia" or the "Company") today announced that the U.S. Food and Drug Administration (FDA) has approved LUPKYNISTM (voclosporin) in combination with a background immunosuppressive therapy regimen to treat adult...

at 20:20
The building information modeling software market is expected to grow by $ 8.38 bn, decelerate at a CAGR of over 24% during the forecast period. Click & Get Free Sample Report in Minutes The increasing requirements for large-scale project...

at 19:30
With over 40,000 pharmacists and 60,000 pharmacy technicians improving the health of Californians, the California Pharmacists Association (CPhA) applauds President Biden's expansion of testing sites and the use of pharmacy professionals to vaccinate...

at 19:25
People's Bank of Commerce ("PBCO" or the "Company"), and Willamette Community Bank , announced today the Boards of Directors for both PBCO and WMCB have unanimously approved an increase to the merger consideration, which will be forthcoming in an...

at 19:06
When Denisha Mann learned about an opportunity to help protect her community during the pandemic, the lifelong Baltimorean stepped out of her comfort zone and up to the task of contact tracing, despite having no previous professional experience in...

at 19:00
Lyft, Inc. today urged federal officials to ensure that drive through vaccination sites are accessible to people with mobility challenges. In a letter to the acting administrator of the Centers for Medicare & Medicaid Services, Megan Callahan, Vice...

News published on 30 november 2020 at 15:30 and distributed by: