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.
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.
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.
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.
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.
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.
Water Pumps Market - Scope of the Report
Persistence Market Research (PMR) recently published market study on the global water pumps market, which provides key insights into market drivers, challenges, opportunity analysis, and trends, along with detailed analysis of the water pumps market structure. The water pumps market study provides key and precise stats and figures explaining how the market is projected to grow during the forecast period.
Key market growth indicators such as supply chain analysis, year-on-year (Y-o-Y) growth and compounded annual growth rate (CAGR), are detailed in PMR’s research report with supporting macroeconomic and forecast factors. This will help readers understand the market projections of the water pumps market, in a quantifiable manner.
The study is relevant for manufacturers, distributors, investors, suppliers, and stakeholders. It can help them understand the growth strategies implemented by various players in the water pumps market. Investors, stakeholders, researchers, industry experts, and journalists in the water pumps market can benefit from the information and statistics presented in PMR’s research report.
The report also present facts & figures related to the macroeconomic factors that are estimated to impact market growth of water pumps on a global level. The study also offers actionable insights based on the future projections in the water pumps market. Additionally, regional manufacturers and new players in the water pumps market can also leverage the information available in the water pumps report to make key marketing and strategic business decisions in the market.
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 PMR’s Water Pumps Market Report
Water Pumps Market: Research Methodology
In PMR’s water pumps report, exclusive research methodology is utilized to conduct comprehensive research on the development of the water pumps market and reach conclusions on the future growth prospects of the market. In this research methodology, secondary and primary research is utilized by assistant analysts to ensure precision and reliability of the conclusions.
Secondary resources referred by analysts during the evaluation of the water pumps market study include facts and figures from World Bank, manufacturer websites, government websites, white papers, trade journals, publications by association, and external and internal databases. Analysts have thoroughly interviewed several water pumps industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary resources and secondary resources is validated from companies in the water pumps market to make PMR’s projection on the growth prospects of the water pumps market more accurate and reliable.