Press Release Description
Water and Wastewater Pump Market Valued at USD 10.02 Billion in 2023, Projected to Reach USD 14.1 Billion by 2030
The Global Water and Wastewater Pump Market Size was valued at USD 10.2 billion in 2023 and is projected to reach USD 14.1 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.77% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report.
The reasons responsible for the surge in demand for pumps across the globe are increasing industrial growth, inadequate water treatment infrastructure, rising funds allocation to modernize treatment facilities by the municipal authorities, and the implementation of regulations to ensure the treatment of wastewater released by the industries.
The water treatment facilities in the US and European countries, like the UK, France, etc., are facing significant challenges due to aging systems and outdated technology. According to the American Society of Civil Engineers (ASCE), many municipal water and wastewater treatment plants in the US are more than 30 years old, owing to which the country witnesses frequent water leakages. Similarly, the poor water treatment facilities in the UK are also responsible for the billions of gallons of water loss per year. This is creating a water stress situation in these countries. As a result, the ministries are increasingly focusing on upgrading the water treatment infrastructure and are providing adequate funds & investments to build the water treatment & distribution facilities, which is amplifying the demand for water pumps and related equipment, driving market growth.
Also, several countries are recording a decline in their water reserve due to droughts, and rising per capita consumption of water, owing to which, the need for water recycling has been classified as a matter of utmost importance by all the major countries. Therefore, to encourage the utilization of wastewater, the governing bodies are framing strict regulations. For instance, in 2023, the European Union implemented the Water Reuse Regulation which focuses on harmonizing minimum water quality requirements for the safe reuse of treated urban wastewater in agricultural irrigation. As the regulations regarding water and wastewater get stringent, the need for pumps across the globe will continue to increase, further states the research report, “Global Water and Wastewater Pump Market Analysis, 2024.”
Global Water and Wastewater Pump Market Segmentation Analysis
Centrifugal Pumps to Dominate in the Forthcoming Years
Based on the type segment, the market is further bifurcated into, Centrifugal Pumps, and Positive Displacement. Among them, Centrifugal Pumps, hold a substantial market share due to their high efficiency. These types of pumps can handle large volumes of water even at low to moderate pressures. Moreover, these pumps work by converting rotational kinetic energy to hydrodynamic energy, which makes them particularly effective for continuous flow applications. Along with this, they can maintain a steady and consistent flow rate which is crucial for water and wastewater treatment processes. This ensures that the operations within the facility are conducted smoothly and effectively, thereby making them a favorable choice of pumps for the different industries & municipalities.
Asia-Pacific is the Most Prominent Region in the Global Market
Asia-Pacific nations have the presence of numerous manufacturing and production facilities that require substantial water input and generate significant wastewater. As a result, these units require pumps to fulfill the requirement of water within the facilities and treat the discharged water. Moreover, authorities in the Asia-Pacific region are heavily investing in the construction & development of smart cities to support their growing economies. As a result, several large-scale projects such as new urban centers, and industrial parks are under construction. These projects require advanced water supply and wastewater management systems, consequently supporting market growth within the Asia-Pacific countries.
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Flowserve Corporation, Pentair PLC, Sulzer Limited, Kirloskar Brothers Limited (KBL), Grundfos, Xylem Inc, KSB Group, Wilo, Ebara Corporation, Franklin Electric, Armstrong Fluid Technologies, Others are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the region?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various countries?
- How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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