Published: September 2021 | Report Code: CM12251 | Available Format: PDF | Pages: 228
The European water pump market generated $707.2 million revenue in 2020, and it is expected to grow at a CAGR of 1.8% during 2020–2030. The key factors responsible for the growth of the market include the rapid urbanization, depletion of ground water level, and high consumer spending.
The COVID-19 infection has stepped into almost every country, and has turned the world upside down. The pandemic has impacted almost all sectors, including water pump, due to lockdown. Moreover, owing to the financial uncertainty, there has been a reduced spending on non-essential items, whose effect is clearly visible in the sales of domestic pumps, electronic items, and other consumer goods. Furthermore, construction activities came to a temporary halt during the lockdown, which resulted in delay in the completion of housing projects that were supposed to be finished in 2020. This, in turn, impacted the demand for water pumps. However, post lockdown, the companies have started operations, and it might take few months for companies to function at full capacity or become fully operational. Hence, it is predicted that by the end of 2021, most of the economies will gain momentum and get back on the recovery trajectory, eventually transitioning from recovery to growth.
The centrifugal category held the largest share in 2020 in the European water pump market, based on type. This is majorly attributed to the surging popularity of centrifugal pumps, due to their wide application areas, low costs, and high efficiency when pumping low-viscosity fluids, such as water. Further, the vast portfolio of centrifugal pumps gives end users the flexibility to choose as per their requirement.
The water supply category is expected to witness faster growth in Europe water pump market during the forecast period (2021–2030), based on operation. This can be majorly attributed to the vast application areas of water supply pumps, including groundwater intake and rainwater harvesting.
The German water pump market in Europe accounted for the largest share in 2020, due to the strict wastewater treatment laws, which even domestic sewage treatment facilities need to abide by. Additionally, the requirement to reduce the energy consumption of pumps, as laid down in the European Union (EU) legislation, will drive the demand for energy-efficient water pumps.
One of the major factors driving the growth of Europe water pump market is the increasing level of urbanization. According to the World Bank, the urban population of the EU reached to 335 million in 2020, from 322 million in 2010. Moreover, as per the organization, the European urban population increased from 73.9% in 2015 to 74.9% in 2020. This is due to the fact that the population is shifting to urban areas from rural pockets. Thus, with the increasing urbanization rate, governments are focusing on improving infrastructure, as the rapid growth of cities’ population is creating pressure on the existing utility water and drinking water infrastructure. This, in turn, drives the demand for water pumps in the region.
The decreasing groundwater level is another factor driving Europe water pump market. According to the report of the National Aeronautics and Space Administration (NASA), the 2019–2020 winter in Europe was the warmest till date, with little snow, and the spring was also drier and warmer than normal. According to the Copernicus Climate Change Service (C3S), meteorological drought condition started in eastern Europe early in the spring of 2020 and moved across the continent, leading to drier-than-normal weather in April and May. The depletion of water levels is, thus, expected to create high demand for domestic water pumps with increased capacity and efficiency, to fulfil daily household water needs.
|Base Year (2020) Market Size||$707.2 million|
|Market Size Forecast in 2030||848.3 Million|
|Forecast Period CAGR||1.8%|
|Report Coverage||Market Trends, Drivers, and Restraints, Revenue Estimation and Forecast, Segmentation Analysis, Country Breakdown, Impact of COVID-19, Companies’ Strategic Developments, Company Profiling|
|Market Size by Segments||By Type, By Operation, By Application, By Country|
|Market Size of Geographies||Germany, France, U.K., Italy, Spain, Denmark, Belgium, Netherlands, Russia, Norway|
|Secondary Sources and References (Partial List)||Air-Conditioning, Heating, and Refrigeration Institute, American Society of Heating, Refrigerating and Air-Conditioning Engineers, American Society of Mechanical Engineers, Association of Danish Pump Manufacturers, British Pump Manufacturers Association, Bureau of Economic Analysis, Consortium for Energy Efficiency, Electronic Components Industry Association, European Heat Pump Association, Heat Pump Association, International Pump Associations, Our World in Data, Pump Distributors Association, Russian Pump Manufacturers Association, Sump and Sewage Pump Manufacturers Association|
In recent years, the players in Europe water pump industry have been involved in product launches, in order to attain a significant position in the market. For instance:
The European water pump market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.
Based on Type
Based on Operation
Based on Application
In 2030, the value of the European water pump market will be $848.3 million.
Centrifugal is the largest category under the type segment of the European water pump industry.
The major European water pump market drivers are rapid urbanization, depletion of ground water level, and high consumer spending.
Germany is the largest water pump market in Europe.
Most European water pump market players are adopting product launch strategy to sustain their business growth.
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