Europe Water Pump Market To Generate Revenue Worth $848.3 Million by 2030
- Published: September 2021
The rapid urbanization, depletion of groundwater level, and high consumer spending are the major growth drivers for the European water pump market. Due to the aforementioned factors, the industry is projected to generate $848.3 million revenue in 2030, advancing at a CAGR of 1.8% during the forecast period (2020–2030).
Due to the COVID-19 pandemic, the European water pump market was negatively impacted in 2020. This was due to the disruption in supply chain, owing to the lockdown in several nations, which considerable impacted the assembly and distribution of domestic pumps. Also, due to the shortage of money flow, companies are investing little in research and development (R&D). Moreover, there are several small players within the market operating at rather small profit margins, in the light of the pandemic. Some of them have even found it difficult to sustain, which is additionally leading to bankruptcy and operational shutdowns. However, post lockdown, the companies have started operations, and most of the economies will gain momentum and get back on the recovery trajectory. Furthermore, industry executives and regulators are now trying to find effective methods and policies to redesign production patterns and improve customer demand.
Centrifugal Category To Hold Largest Share in Coming Years
The water pump market in Europe is categorized into centrifugal, submersible, condensate, self-priming, and pressure booster, on the basis of type. Among these, the centrifugal category dominated the market during the historical period (2015–2020), and it is expected to retain its dominance during the forecast period as well. This will mainly be attributed to the ease of operation and simple design of these pumps, which offer high efficiency. These pumps can also handle a diverse range of heads and capacities, while producing a high flow rate.
Moreover, the European water pump market is categorized into water supply and water drainage, on the basis of operation. Of these, the water supply category led the market during the historical period, and it is also expected to retain its dominance in the coming years. This will mainly be due to the vast application areas of water supply pumps, including groundwater intake and rainwater harvesting, which have helped the category in gaining larger market share.
Germany was the largest contributor to the European water pump market in 2020. This is mainly attributed to the strict wastewater treatment laws, which even domestic sewage treatment facilities need to abide by. Additionally, according to EUROPUMP, also known as the European Association of Pump Manufacturers, the requirement to reduce the energy consumption of pumps will drive the market for energy-efficient water pumps.
Product Launches Are Most-Effective Strategic Measures
Players in the European water pump industry have been involved in product launches to remain competitive in the market. For instance, in July 2021, Pedrollo S.p.A. launched a new MAGNIFICA series of self-priming electric pumps with a pre-filter, suitable for circulating and filtering water in swimming pools of volume up to 180 m3. The MAGNIFICA series comprises five models of capacity ranging from 0.75 HP to 3 HP.
Similarly, in July 2021, Daikin Europe N.V. launched Daikin Altherma M HW, its second-generation domestic hot water heat pump suitable for small houses or apartments. Daikin Altherma M HW is ideal for homes where domestic hot water is needed for three to four persons. It does not require fossil fuels and instead it depends on readily accessible outdoor air. Only 25% of the system's energy requirement comes from electricity, earning it an A+ energy rating.
The major players operating in the water pump market in Europe are Grundfos Holding A/S, Xylem Inc., Wilo SE, KSB SE & Co. KGaA, Ebara Corporation, Sulzer Ltd., DAB PUMPS S.p.A., Patterson Pump Company, S.A. Armstrong Limited, Pedrollo S.p.A, Metabowerke GmbH, and GARDENA GmbH.