Industrial wastewater treatment is witnessing higher adoption of IoT devices to increase operational efficiency. IoT devices enable in-depth and remote monitoring of operations from different locations, thereby reducing the cost of labor and operations.
Water pump operation and monitoring have radically improved due to the incorporation of IoT devices, as these enhance data collection. Thus, incorporation of IoT devices is one of the prominent trends gaining traction in the water pumps market.
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- KSB SE & Co. KGaA
- Flowserve Corporation
- Sulzer AG
- Ebara Corporation
- The Weir Group PLC
- Wilo SE
- Xylem Inc.
- Kirloskar Brothers Limited
- Ruhrpumpen Group
- Gardner Denver, Inc.
- Megator Corporation
- Viking Pump, Inc.
- Gorman-Rupp Pumps
- Tsurumi Manufacturing Co. Ltd.
- Mitsubishi Heavy Industries, Ltd.
- LEWA GmbH
- PSG (Dover Corporation)
- Atlas Copco Group
Global Infrastructure Development to Offer Lucrative Opportunities for Growth
Global demand for water pumps is directly correlated to infrastructure development activities. Governments of developing countries such as China and India are focusing on urbanization, which, in turn, is anticipated to fuel demand for water pumps, particularly in domestic, irrigation, and water & wastewater treatment applications. Rising demand for solar-based water pumps, especially in agriculture and irrigation activities, is also driving the growth of the global water pumps market.
Water scarcity is a major issue plaguing numerous regions across the globe. Governments of various countries are implementing regulations mandating the recycling and reusing of water, especially in industries. This is expected to drive demand for water pumps in the near future.
For instance, 'The Kisan Urja Suraksha evam Utthaan Mahabhiyan (KUSUM)' is the latest scheme introduced by the Government of India, with supportive assistance for production, distribution, and promotion worth of US$ 480 billion. KUSUM aims to encourage farmers to use solar power for meeting their irrigation requirements through solarisation of existing pumps.
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Replacement of Existing Plants and Pumping Systems
The replacement of aged pumps and pumping systems in agricultural applications is expected to drive sales of new water pumps that are highly efficient. Replacement of diesel pumps with electric pumps is another important factor that will positively impact the water pumps market. Regional suppliers and manufacturers operating in the aftermarket for water pumps, in particular, are focusing on capitalizing on this ongoing trend.
For instance, Grundfos launched renewed and expanded ranges of SE and SL wastewater pumps with unmatched performance of S-tube impeller. These are designed to handle sewage, effluent, large volumes of surface water, and process water in municipal, utility, and industrial applications.
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Global Water Pumps Market: Competitive Landscape
The water pumps market landscape is fragmented, with a large number of big, small-scale, and regional players in the market. The rising trend of online sales of water pumps has also aided in boosting revenue of the global market.
Key participants in the water pumps market are Atlas Copco Group, Xylem Inc., Ebara Corporation, Grundfos, Flowserve Corporation, Sulzer AG, Wilo SE, The Weir Group PLC, Gardner Denver, Inc., and KSB SE & Co. KGaA, among others.
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Growing Vendor Consolidation by Leading Players
Over the last few years, the water pumps market has been witnessing an increase in the number of acquisitions and collaborations, product launches, and investments in new manufacturing facilities by leading manufacturers to complement their business model and strengthen their footprint in regional markets.
- In 2019, Flowserve Corporation signed agreements to provide main pumps for two large seawater reverse osmosis (SWRO) desalination plants - Taweelah and Rabigh-3 in U.A.E.
- In 2018, Grundfos showcased its intelligent boosting solutions at the 24th Indian Plumbing Conference (IPC), a national conference of the plumbing fraternity.
- In November 2018, Xylem Inc. signed a Memorandum of Understanding (MoU) with Ethiopia's Ministry of Water, Irrigation and Energy (MoWIE), for future cooperation to help advance the country's water security.
A detailed view of the global water pumps market has led our analysts to conclude that, the market is growing at an impressive rate, owing to rising investments in water and wastewater treatment plants, and replacement of diesel pumps with electric pumps in developing economies. The global water pumps market is expected to be characterized by innovative product development for varying applications over the forecast period. The East Asia and South Asia water pump markets are expected to offer lucrative opportunities in terms of sales.
Key Segments of Water Pumps Market
PMR’s study on the water pumps market is divided into four different segments - product type, operating capacity, application, and region. This report offers comprehensive data and information about the important water pumps market dynamics and growth parameters related to these categories.
Key Questions Answered in Report
- How much is the water pump market worth?
The water pump market is estimated to be worth US$ 48 Bn in the year 2021. As such, it could be termed as a steady-going market.
- What will be the sales forecast for water pump market?
The water pump market is expected to reach US$ 64 Bn between 2021 and 2031.
- What was the last 5 year market CAGR?
The global water pump market witnessed a CAGR of 3.6% between 2015 and 2020.
- What are the key trends for water pump market?
As of now, IoT-enabled smart pumping systems are being adopted to ascertain proper performance and energy efficiency. East and South Asia are expected to push the market with an extensive usage of water pumps in wastewater treatment and agriculture.
- What is driving the demand for water pumps?
Across the globe, oil & gas, power, and chemical vertical are driving the demand for water pumps (The Asia-Pacific is there with the above-mentioned applications apart from these).
- What is the market share of top 5 players?
The top 5 players (KSB, Flowserve, Suzler AG, Ebara Corporation, and GRUNDFOS) account for close to 65% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving the demand include the US, Germany, Sweden, Denmark, and Switzerland.
- What is the North America’s market Outlook?
North America is one of the major stakeholders to the water pump market, accounting for close to 30% of the revenue.
- At what percentage water pump market is going to register growth in Europe?
Europe is expected to register 3% growth in the water pump market.
- What is the key market statistics in Korea and Japan?
Japan and Korea are expected to emerge as the torchbearers with respect to water pumps, being amongst the developed economies of the Asia-Pacific.