The global water pump market was valued at $42,435.1 million in 2015, and it is expected to grow at a CAGR of 5.9% during 2016 - 2022. The factors driving the growth of the global market include growing construction industry, increasing disposable income, growing water scarcity, rapid industrialization in developing economies, and increasing level of urbanization. By technology, the centrifugal water pump segment accounted for larger share in the total market in 2015, and it is expected to grow at a CAGR of 4.8% during the period 2016 - 2022. Water scarcity is one of the major factors driving the demand for water pumps, as governments around the world are directing industries to recycle and reuse water. In 2011, in its Twelfth Five Year Plan, the Chinese government allocated $60 billion for the urban wastewater system in the country.
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Among the various end-users, the municipal water and wastewater segment held the largest share in the global water pump market in 2015. The rapid growth of urban population is creating pressure on the existing water infrastructure, which includes delivery of utility water and removal and treatment of wastewater. To meet this growing demand, various governments in Asia and Africa are expected to increase their spending on irrigation and drinking water schemes.
In 2015, Asia-Pacific held the largest share in the global water pump market with 42.9% share. The surging level of urbanization, rapid industrialization and increasing disposable income are some of the major driving forces for the Asia-Pacific water pump market, particularly in countries such as India and China. China is the largest market for water pumps in the region; however, India is expected to witness highest growth in the near future. The impact of massive industrialization in developing countries on the water pumps market is anticipated to remain high during the next few years. This is due to increase in demand for water pumps from industries such as oil & gas, chemical, and energy in these countries.
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 Market Research 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.
Between the two technologies, the centrifugal water pump segment accounted for larger share in the global market in 2015.
Some of the major players operating in the global water pump market include Flowserve Corporation, Ebara Corporation, Sulzer Ltd., Grundfos Holding A/S, Kirloskar Brothers Limited, KSB Aktiengesellschaft, Gardner Denver Inc., ITT Corporation, Torishima Pump Mfg. Co., and The Weir Group PLC.
GLOBAL WATER PUMP MARKET SEGMENTATION
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