Pumps Market Insights As per findings of Market Research Future (MRFR), in its latest “Pumps Market� report states that the global pump market is expected to thrive at a CAGR of about 4% during the forecast period (2018 to 2023). The large-scale application of pump is expected to gain high traction for the global pump market. Alongside, the availability of different types of pumps that meet various requirement is also adding to the momentum of the worldwide pump market growth. Expansion of the industrial space is expected to generate potential growth opportunities for the pump market. The rise in need for pumps for effective water and drainage management is expected to support the above mentioned factor. This, in turn, is anticipated to boot the worldwide pump market growth. The pump sector is expand at a high pace owing to the increasing need and rapid adoption of by the manufacturing and the power and energy industry. The increase in the need for clean and renewable energy as need for sustainability rise is expected to increase surge the adoption of pumps. The rise in the need for electricity is expected to impel the growth of the pump industry in the assessment period. Segmental Analysis The growth of the global pump market is assessed by end-user and type. By end-user, the market is segmented into water & wastewater, oil & gas, chemicals, power generation, food & beverage, pharmaceutical, and others. The water & wastewater segment is expected to hold command over the global market during the review period. It is due to the increase in investment in the field of waste-water management. The growing awareness of the depleting level of water is pressing the need for pumps. In addition, the need for water is rising due to high consumption of water by industries. These factors are expected to considerable traction for the global pumps industry. By type, the pump market classified into dynamic pumps and positive displacement. The positive displacement pumps segment is sub-segmented into rotary and reciprocating. The dynamic pumps segment is sectioned into special effect pumps and centrifugal. The extensive use of centrifugal pumps in the transportation of large volume of water used in industries and domestic sectors are can impel the growth of the pump industry. Regional Outlook North America is expected to secure the lead position in the global Pump Market Size. Increase in application of heat pumps in settling residential portable water heating requirements in the US is expected to promote the growth of the regional pump market. In recent times, as people are inclining towards smart cities, furnace and air conditioners are being swapped with heat pumps. Hence, the increase in the adoption of heat pumps in North America is likely to benefit the regional market. In Asia Pacific, the rapid expansion of industries, such as oil and energy, agriculture, chemicals, pharmaceutical, and aerospace, is expected to create high opportunity for the pump industry in the region. The APAC pump sector is likely to exhibit a high rise due to the upscale demand of centrifugal pumps in these mentioned industries. The benefit of effective fluid
dynamics offered by centrifugal pumps is expected to boost the regional market growth. In North America and Asia Pacific, the presence of numerous automaker and the high rate of adoption of hydraulic pumps by them can trigger pump market growth. Key Players Sulzer (Switzerland), Grundfos (Denmark), ITT Corporation (US), Flowserve (US), IngersollRand (Ireland), Danfoss (Denmark), Ebara Corp (Japan), The Weir Group (UK), Schlumberger (US), KSB (Germany), Wilo AG (Germany), Nikkiso Co Ltd (Japan), Roper Industries (US), and others. About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. Contact: Market Research Future +1 646 845 9312 Email: sales@marketresearchfuture.com