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Increased Investments in Process End Market will Drive Demand for Pumps
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This research service analyzes current and future trends in the global pumps market across various industries. This analysis is in an Excel format. Analysis has been based on the key end-user segment of pumps (oil and gas, chemicals, power generation, construction, pharmaceuticals, food and beverage, metals and mining, water and wastewater, and others). The data has been segmented by positive displacement and centrifugal pumps. Positive displacement pump includes diaphragm, vane, peristaltic, piston, gear, lobe, progressive cavity, and screw pumps. Centrifugal pump types include single-stage, multi-stage, axial and mixed-flow, submersible, seal-less, and circular pumps. Various market drivers and restraints and their impacts over time have been discussed. In addition, this research outlines the total market share analysis. A detailed regional breakdown covering North America, Latin America, Europe, the Middle East and Africa, and the Asia-Pacific has been provided with revenue forecasts for end-user industries. The forecast period is from 2019 to 2025, with 2018 as the base year. From a global economic standpoint, the US economy has been forecast to experience a marginal growth in the short term. The PD pump and centrifugal pump market is expected to witness a CAGR of 2.6% and 2.3% respectively for 2018 to 2025. Growth is expected as a result of improving oil prices and investments in the chemical, water and wastewater, and power generation sectors. Furthermore, improving economies in the Asia-Pacific are expected to witness a year of strongest growth as far as sales are concerned. In several Asa-Pacific countries, especially, economic activity has been forecast to a CAGR of 4.3% and 4.1% for the PD pump market and the centrifugal pump market, respectively. The key contributing factors to this positive global outlook are growth in the industrial infrastructure in the emerging markets of the Asia-Pacific and expected demand from end market such as power, chemicals, water and waste water due to increased investment. Refurbishment of aging infrastructure in the water and wastewater industry, especially in Europe and North America, will be a key factor in driving the growth of the pumps market. However, uncertainty in the political scenario in Europe coupled with upcoming elections in North America (both Canada and USA) will have an impact on the growth of the pump industry in Europe and the Asia-Pacific. Furthermore, a positive global economic outlook for Southeast Asian countries, coupled with growing domestic demand from chemical, petrochemical, power generation, water and wastewater, oil & gas industries is expected to drive the demand for pumps. Continued focus on OPEX will see the demand for energy-efficient pumps and pump-related monitoring and analytic offering.Author: Avinash Kumar
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