Outlook on the World Industrial Pumps Market 2019-2025: Analysis by Product & Application - ResearchAndMarkets.com
The "Industrial
Pumps Market Size, Share & Trends Analysis Report By Product
(Centrifugal, Rotary, Diaphragm), By Application (Oil & Gas, Chemicals,
Power, Water & Wastewater), And Segment Forecasts, 2019 - 2025"
report has been added to ResearchAndMarkets.com's
offering.
The global industrial pumps market size is anticipated to reach USD 88.4
billion by 2025, according to this report, expanding at a CAGR of 5.9%
over the forecast period. Growing demand in water and wastewater
treatment and the oil and gas industry due to population outburst and
industrialization across the globe is anticipated to boost the industry
growth over the forecast period.
Rising industrialization, rapid urbanization, technological
developments, and growth in infrastructure are the major driving factors
augmenting the demand for energy fuels, which have resulted in growth of
the oil and gas and power sectors. These factors are, in turn, expected
to propel the market growth. The water and wastewater application
segment held the largest share because of its wide-scale usage in
various end-use industries. In addition, stringent energy efficiency
regulations for industrial pumps of different types are expected to
drive the segment.
Centrifugal pumps are expected to dominate the industrial pumps market
on account of its predominant consumption in utilities and shop floors
of manufacturing units. Centrifugal pump was valued at USD 43.5 billion
in 2018 and is projected to hold the largest market share over the
forecast period.
High demand from the end-user industry due to increased productivity is
expected to augment the demand for industrial pumps. Demand for the
product is on a rise owing to its varied use in applications such as
water and wastewater, power construction, chemical, and oil and gas.
This, in turn, has led to increased spending by industrial pumps
manufacturers to provide value-added benefits to consumers.
Fluctuation in the prices of components of industrial pumps owing to
high demand from end-user industries is expected to affect the capital
investment over the forecast period. Rising investment in strategic
merger and acquisition activities by major players to develop low-cost
manufacturing processes is expected to augment market demand over the
forecast period.
Furthermore, replacement of existing industrial water and wastewater
infrastructure in the country is likely to be another driving factor in
the market. Amplified usage of high-pressure pumps in Germany for
controlling water flow rates is projected to offer scope for product
consumption to a certain extent. China is expected to emerge as the
fastest growing market for petrochemicals owing to strong demand from
end-use industries, such as transportation, packaging, and construction.
Further key findings from the study suggest:
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The market revenue in U.S. is projected to expand at a CAGR of 5.2%
over the forecast period owing to significant exploration activities
in both the offshore and onshore unconventional oil and gas sector.
-
The market in Germany was valued at USD 1.8 billion in 2018 and is
projected to grow significantly over the forecast period owing to
rising demand for reverse osmosis and membrane separation technology.
-
The market in China is anticipated to reach USD 23.8 billion by 2025
owing to rapid industrialization, coupled with growing urbanization.
Companies Mentioned
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A.R. North America, Inc.
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Colfax Corporation
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Global Pump Company
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Grundfos Pumps Corporation
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Haight Pumps
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ITT Corporation
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Iwaki America Inc
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Pioneer Pump Inc
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Roper Technologies, Inc
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Sulzer Brasil S.A.
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The Flowserve Corporation
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Vaughan Company Inc.
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SPX FLOW Inc
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HERMETIC-Pumpen GmbH
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SEKO Bono Exacta S.p.A.
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DESMI A/S
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Summit Pump, Inc.
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Speck Pumpen Group
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Kracht GmbH
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Klaus Union GmbH
For more information about this report visit https://www.researchandmarkets.com/r/frrfuf
View source version on businesswire.com: https://www.businesswire.com/news/home/20190610005504/en/
Copyright Business Wire 2019
Source: Business Wire
(June 10, 2019 - 11:12 AM EDT)
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