In 2015, the global market for water pump was estimated at a value of $42,435.1 million, and it is projected to demonstrate a CAGR of 5.9% during the forecast period 2016-2022. Some of the major factors boosting the global market include increasing disposable income, rapid industrialization in emerging economies, growth of construction industry globally, rising water scarcity, and increase in levels of urbanization. On the basis of technology, centrifugal water pump segment dominated the global market with the largest market share in 2015, and it is expected to demonstrate a CAGR of 4.8% during the forecast period. Additionally, water scarcity in several parts of the world is driving governments to set targets for recycling and reusing water. In 2011, in China’s Twelfth Five Year Plan, the government allotted $60 billion for the urban wastewater system in China.
By technology, centrifugal water pump segment was accounted to have a larger share in the global market in 2015.
By end-user industry, wastewater and municipal water segment dominated the global water pump market with the largest share in 2015. The rapidly increasing urban population has created a huge pressure on existing systems for delivery of utility water and wastewater treatment. In order to meet this increase in demand, several governments in Africa and Asia are likely to focus on irrigation activities and launch of drinking water schemes.
Geographically, Asia-Pacific dominated the global market for water pumps with the largest market share of 42.9% in 2015. Some of the major driving factors include increasing disposable income and rapid industrialization, specifically developing nations such as China and India. China is the largest market for water pumps in the region; however, India is likely to witness fastest growth in the coming years. The impact of vast industrialization in emerging economies on the water pumps market is expected to be high in the coming years. This can be attributed to the increasing demand for water pumps from several end user industries such as chemical, oil & gas and energy.
Major players in the global water pump market include ITT Corporation, Ebara Corporation, Torishima Pump Mfg. Co., Sulzer Ltd., Flowserve Corporation, Kirloskar Brothers Limited, The Weir Group PLC, KSB Aktiengesellschaft, Grundfos Holding A/S, and Gardner Denver Inc.
The information and data in the publication “Global Water Pump Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. Bottom-up and top down approach has been used to calculate the market size. P&S Intelligence analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
GLOBAL WATER PUMP MARKET SEGMENTATION