The Global Water Pump Market is predicted to attain a CAGR of around 5.9% over the forecast period during 2021-26 owing to the launch of new generation water pumps by the manufactures for end-user industries, agriculture and for domestic consumers. The growth of the market is further attributed to rising water pollution, which is increasing the need for water recycling and wastewater treatment plant along with robust development in the commercial and residential sector owing to rapid urbanization and an upsurge in the demand for IoT enable smart water pump. Moreover, burgeoning government investment in power generation plant and snowballing industrialization in developing economies are the factors expected to propel the growth of the market in the forecast period.
Key questions answered in the study
Positive Displacement Accounted for Considerable Market Share
According to the MarkNtel Advisors’ research report, the CAGR of “Global Water Pump Market Analysis, 2021”. Based on Type, the Positive Displacement water pump acquired a considerable market share in 2019, however, it is expected to grow at a rapid rate over the forecast period. The application of positive displacement water pump is mostly in industrial application, especially in hydraulic systems. The burgeoning investment in the pharmaceutical and chemical industry is projected to fuel the demand for positive displacement.
“Global Water Pump Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots and opportunities available for Water Pump providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Register Fastest Growth
North America is projected to exhibit the fastest growth in the Global Water Pump market in 2019. The U.S. accounted for the highest market share in North America. This is due to a significant rise in hydraulic fracturing activities and rising government inclination toward enhancing water management. Moreover, boost in the demand for domestic pumps, rising demand for an energy-efficient solar water pump, and an increasing number of wastewater treatment plants are further projected to proliferate the demand for the Water Pump market in the forecast period as revealed by MarkNtel Advisors’ research report “Global Water Pump Market Analysis, 2021”.
According to MarkNtel Advisors, the major leading players in the global Water Pump market are Flowserve Corporation, Pentair PLC, Sulzer Limited, Kirloskar Brothers Limited (KBL), Grundfos, Xylem Inc, KSB Group, Wilo, ITT Inc., Torishima Pump MFG. Co. LTD., etc.