In a recent published report, Kenneth Research has updated the market report for Water Pump Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Water Pump Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Water Pump Market is estimated to reach $67.9 billion by 2024; growing at a CAGR of 5.5% from 2016 to 2024. Water pumps are devices used for hauling water from various water resources. It is used across several applications including industries and household sector. Water pumps are primarily used for continuous supply of water for various industrial and commercial applications including houses, hospitals, gardening, water fountain, and other infrastructures and also ensures sufficient water for agricultural applications. It is also used for the supply and transportation of several forms of liquid depending upon the capacity and material of the pump.
The drivers of the global water pump market include rapid industrialization and urbanization, water shortage is certain parts of the globe, and increased demand for advanced water pumps. However, factors such as high competition due to presence of large unorganized group and availability of low grade products would limit the growth of the market. Furthermore, increasing number of brownfield projects and construction of new water recycling plants could provide several growth opportunities in the coming years.
The water pump market is categorized into technology, end-user and geography. By technology, the market is segmented into centrifugal water pump, and positive displacement water pump. End user is further bifurcated into energy, municipal water and wastewater, oil & gas, chemical, and others.
Based on geography, water pump market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Russia, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
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The key market player includes Weir Group PLC, General Electric Company, Weatherford International Inc, Gardner Denver, Inc., Kirloskar Brothers Limited, Torishima Pump Mfg. Co., ITT Inc., PROCON Products, KSB Group, and Sulzer Ltd., among others.
The key takeaways from the report
The report will provide detailed analysis of Water Pump Market with respect to major segments such as technology and end-user
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Water Pump Market has been included in the report. Profile of the key players in the Water Pump Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Water Pump Market
Technology Segments
Centrifugal Water Pump
Positive Displacement Water Pump
End User Segments
Energy
Municipal Water and Wastewater
Oil & Gas
Chemical
Other End-Users
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Geography Segments
North America
U.S.
Canada
Mexico
Europe
UK
Russia
Germany
France
Italy
Others
Asia-Pacific
India
China
Japan
South Korea
Others
RoW
South America
Middle East
Africa
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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