The global market for water pumps has continually expanded on account of the increasing relevance of these pumps across several industries. Water pumps are equipped with auxiliary equipment that are configured and standardized for several uses. Water pumps are uniformly deployed across residential, commercial, and industrial units because of the utility offered by these pumps. The water pumps can be broadly categorized as centrifugal pumps and positive displacement pumps, both being equally popular across industries. In recent times, advanced water pumps have glutted the market, and the consumers have been quick to resort to the usage technologically advanced water pumps. The market for water pumps is expected to continue surging ahead in the coming years due to the timeless need for water for several domestic and industrial uses. A report by Market Research Reports (MRR) presents important statistics with regards to the global market for water pumps and foretells a trajectory of market growth. Furthermore, the report is in sync with the current, historic, and tentative future trends of the market. The report titled ‘Water Pump Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025’ acts as a key focal point to gauge the lucrativeness of the market in the coming years.
The oil and gas industry has emerged as a prominent end-user segment of the market. The rising demand for energy has compelled the oil and gas sector to install effective water pumps in order to separate liquids from gases. The state-of-the-art technologies introduced by manufacturers have allowed these water pumps to perform several subsidiary functions including water purification. This has given an impetus to the market and has offered commendable growth opportunities to market players. Furthermore, the mushrooming amount of wastewater treatment plants stemming out of the need for clean water, flood control, and desalination has also propelled market demand. Hence, the market is expected to keep trading along a positive growth path over the coming years. The agricultural sector is other key industry with an abundant demand for water pumps, which further expands the market. Power generation, pharmaceuticals, paper and pulp, food and beverages are amongst other key domains that collectively push demand within the global market for water pumps. The report by MRR has elaborated each of the aforementioned factors in order to give a comprehensive view of the market. The restraints that could hamper the growth of the market have also been included in the report. The market players seem keen on grabbing every opportunity to optimize their market share, and hence, the report has encapsulated a set of opportunities that lie ahead in the market.
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The market in Asia Pacific is expected to gross in the highest revenue for the global market. The prominence of the regional market owes to the infrastructural developments that have offset in emerging economies such as India and China. Moreover, the advent of new industries through foreign direct investment is also projected to create growth spaces in the Asia Pacific market. Europe and North America are anticipated to follow Asia Pacific in terms of revenue over the coming years. The other regions viz. Latin America and the Middle East and Africa are also expected to exhibit lucrative opportunities in the future.
Some of the key market players include Wilo SE, Sulzer, KSB Inc., ITT Inc. and Xylem Inc. The strategies of the leading market players have been deftly analyzed in the report.