Danfoss AS, Dover Corp., Flowserve Corp., General Electric Co., Grundfos Holding AS, Ingersoll Rand Inc., Robert Bosch GmbH are some of the leading market vendors
Accelerating at a CAGR of 5.73%, the pumps market is expected to post an incremental growth of $ 22.14 billion over the next five years. Alfa Laval AB, Danfoss AS, Dover Corp., Flowserve Corp., General Electric Co., Grundfos Holding AS, Ingersoll Rand Inc., Robert Bosch GmbH, Sulzer Ltd., and The Weir Group Plc are among the key market players.
The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. In addition, our report offers a deep understanding of the key market players and their product portfolios. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.
Pumps Market: Market Segments and Key Trends
The Pumps market is segmented by Product (Centrifugal pumps, Specialty pumps, and Positive displacement pumps), End-user (Oil and gas, Water and wastewater, Chemical, Building, and Others), and Geography (APAC, Europe, North America, South America, and MEA).
Growth by the centrifugal pumps segment will be significant during the forecast period. Centrifugal pumps are the most preferred choice in process and discrete industries. These pumps work on the rotational motion of the impeller, which is fitted inside the pump. The demand for these pumps is expected to increase significantly during the forecast period owing to large scale investments in the industrial sector
APAC led the market with 50% of the market growth set to oiginate from this region during the forecast period. China and Germany are the key markets in APAC. Market growth in this region will be faster than the growth of the market in other regions owing to the growing number of end-user industries such as paper and pulp, and chemical manufacturing. This research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
Pumps Market: Top Drivers to Boost Demand
Rising focus on improving energy efficiency in industries is one of the primary factors driving the growth of the pumps market. The use of pumps in industries helps in reducing carbon emissions in industrial facilities, thus, enabling industries to achieve their energy efficiency targets.
The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. For additional insights on this market: Download FREE Sample Report.
Key Focus Areas in Our Reports:
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
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