Pumps Market Overview:
According to the 2018 Industrial Development Report by the United Nations, there is a significant rise in the individual income across the globe which is leading to a substantial demand influx of goods in various sectors. Consequently, the future will observe a rapid industrial development with a myriad of emerging manufacturing units belonging to a diverse range of industries. Furthermore, there will be a resource reinforcement and renovation in the existing ones for the production of better quality of goods. Pumps are an indispensable part of manufacturing units that enable all the fluid flow operations. This industrial growth will be a boon to the pumps market which had a value of around $80 billion in 2018, according to IndustryARC’s market analyst. Furthermore, the analyst estimates the pumps market demand to grow with a moderate CAGR of around than 5% during the forecast period of 2019 to 2025.
There is a tangible upsurge in industrialization in APAC countries for quite a few years. Owing to some of the most mature oil and gas reserves found in China, India, and other parts of APAC such as Thailand, Malaysia, Indonesia, and the Philippines; the oil & gas industry is booming in the sector. Additionally, the Indian pharmaceutical sector has witnessed some exceptional deals in recent times. Apart from that, APAC is home to a gamut of small and big scale industries which are aiding to the growth in demand for pumps; subsequently opening opportunities for the vendors in the pumps market.
Pumps Market Outlook:
A pump is a device that is used to move liquids and gases, and they are classified as direct life, positive displacement pumps, impulse pumps, and others. Some pumps are submerged in the fluid while others are placed external to the fluid. Pumps play a major role in various industries for water supply and fluid flow operations. In the automotive industry, they are used for water-cooling and fuel injection.
Apart from the applications of pumps in industries that include agriculture, pharmaceutical, chemicals, and others; the key application sector which is opening pumps market Revenue Avenue for the vendors is oil & gas. The analyst estimates the application CAGR of pumps in the oil & gas industry to be less than 2% through to 2025. This resonates with the gradual growth in the demand for the oil & gas industry which is projected by the Organization of Petroleum Exporting Countries (OPEC) to be 100.7 Mb/d in 2040 that was measured to be 86.5 Mb/d in 2015.
“Despite the CAGR to be a tad on the lower side, the consistent demand of from the oil & gas sector leading to the increase in production to fulfill the requirement of the growing population and the subsequent rise in the number of vehicles will create a sustainable pumps marketplace for the vendors” comments the market expert in the pumps market research report.
Pumps Market Growth Drivers:
- Demand for Pumps from the Agricultural Sector –
One of the most important target area in the Sustainable Development Goals (SDGs) of the United Nations is achieving food security and improved nutrition for the global population, and the way forward to this goal is noted as sustainable agriculture as mentioned in The Future of Food and Agriculture Report by the Food and Agriculture Organization. Now, the growth in the agricultural sector with emerging farms and cultivation fields will warrant a heavy supply of pumps of various types, and the vendors in the pumps market will be reaping the benefits of this noticeable demand influx.
- Real Estate Industry Stroking the Pumps Market –
The rapidly growing population of the world has brought upon a tectonic shift in the real estate industry with a lot of on-going infrastructural and residential projects across the world. Furthermore, there is a remarkable surge in the construction of commercial properties such as malls and corporate offices. Evidently, these buildings are incorporated with fire protection systems and sanitation system which require pumps for the flow of water, which further flourishes the pumps market.
- Zero Liquid Discharge Regulation in the Industrial Sector –
Owing to the environmental concerns due to the liquid discharge from chemical, pharmaceutical, and other industries, there is a regulation which makes it imperative for these industries to inculcate the zero liquid discharge plant in them. This entails a water treatment process in which all the water is either purified and recycled or evaporated to the atmosphere, thereby leaving zero discharge at the end of the treatment cycle. These plants utilize a wide range of pumps from centrifugal to displacement ones, which is significantly supporting the pumps market.
Pumps Market Trends:
- In January 2018, Armstrong Fluid Technology acquired Halm’s circulator pump division. The acquisition attributed to Armstrong’s vision to provide a holistic solution to their global customer base and position itself eminently in the pumps market.
- In January 2018, Pumpman Holdings LLC had acquired the assets of Brooklyn which is a New York-based Federal Pump for an undisclosed sum of money. The idea behind the acquisition was to position the company in the New York pumps market.
- Recent Developments – The most recent innovation in the pumps market is the development of centrifugal pumps that can operate in reverse turbine mode which increases the efficiency by 10% and performance by 30%. This will be widely adopted by the pumps market players across the globe.
Pumps Market Challenges:
Pumps market is poised to witness a gamut of uncertainties pertaining to the turbulent economic situation of the world and the changing demand with new innovations. However, the advent of the Internet of Things (IoT) and Internet 4.0 will lead to a seismic shift in the pumps market. The technology will aid to the improvement in the performance of pumps by as much as 45% which will escalate the return on investment (ROI) of the manufacturer. Moreover, the pumps market is moving towards Analytics-as-a-Service and Pumps-as-a-Service which will create more opportunities for the vendors.
Pumps Market Key Players Perspective:
The key players striving to capitalize on the demand influx in the pumps market are Flow Serve, Alfa Laval, Grundfos, Xylem, Danaher, Crane, GE, Index, Ingersoll Rand, Weir Group, Sulzer, Metro, SPX, Schlumberger, and ITT.
Pumps Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the pumps market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of pumps market, and their specific applications in water supply, agriculture, and other sectors.
Pumps Market Report: Industry Coverage
The report analyses the product demands by the category of pumps that include axial flow pump, semi-axial flow pump, and others. The report also documents the pumps market by type which include residential pumps, agriculture pumps, and others.
The pumps market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Pumps Market Report
Is the market demand for pumps growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for pumps market?
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global pumps market during the forecast 2018–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures