Global Pumps Market Outlook and Forecast Report 2020-2025 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Pump Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

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.

Global 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 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.

Prominent Vendors

• Alfa Laval
• Baker Hughes
• CIRCOR
• Desmi A/S
• Flowserve
• Franklin Electric
• Kirloskar Brothers
• KSB
• Nikkiso
• SPX Flow
• Sulzer
• Torishima
• Weir
• Wilo
• Xylem

Other Prominent Vendors

• AR North America
• Bosch Rexroth
• CP Pumpen AG
• Dover
• Ebara
• Grundfos
• Global Pump
• Haight Pumps
• HERMETIC-Pumpen
• IDEX Corp
• Iwaki America
• Klaus Union
• Kracht
• Leitritz Group
• Naniwa Pump
• Netzsch
• Pentair
• Roper Pumps
• Ruhrpumpen
• Seepex
• Seko
• Summit Pump
• Vaughan

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