Product Code: 62632
The market for the pump expected to witness a significant growth of CAGR greater than 4.7% majorly due to increasing demand from major end-user industry such as oil & gas, water & wastewater, chemicals & petrochemicals, mining industry, etc. Moreover, due to recovery in oil price and the increasing number of onshore & offshore fields reaching their maturity, exploration & production activity is expected to make a shift toward deeper offshore regions, which result in increasing offshore deep-ultra deepwater projects. This, in turn, is expected to drive the pump market during the forecast period. However, technological advancements in the alternative option of the conventional pumps such as solar pumps are expected to hinder the pump market during the forecast period.
- The development of water and wastewater infrastructure has become imperative due to the surging demand for water. The demand for pumps from the water and wastewater industry is growing rapidly on account of the massive development of water infrastructure. This, in turn, is expected to propel the pump market during the forecast period
- Furthermore, the manufacturing of pumps has witnessed the combination of 3D printing technology combines with computer modeling has led to a cutting edge development in pump design, repair and replacement which, in turn, drives the global market for pumps and provides the opportunity for the market in coming future.
- Asia-Pacific dominated the market across the globe in 2018, with the majority of the demand coming from China and India. The Asia Pacific is the fastest-growing region followed by North America.
Key Market Trends
Increasing Demand for Water & Wastewater Treatment Plants
- Most of the human and industrial activities that use water produce wastewater. As the overall demand for water grows, the quantity of wastewater produced, and its overall pollution load is continuously increasing worldwide. As a result, governments across the world have introduced strict policies and regulations regarding wastewater treatment for both the municipal and industrial sectors.
- Around two-thirds of the world's population lives in areas that experience water scarcity for at least one month a year. Around 50% of the people facing this level of water scarcity lives in India and China. Therefore, the demand for treatment for wastewater produced as a result of human and industrial sector water usage is expected to grow, in order to improve the efficiency of water usage and meet the water demands.
- Moreover, on average, high-income countries treat about 70% of the industrial and municipal wastewater it generates. That ratio drops to 38% in upper-middle-income countries and about 28% in lower-middle-income countries. With increasing awareness about the environment and growing water shortage, the demand for water treatment plants and, in turn, pumps in water treatment plants is expected to increase in the developing countries.
- Furthermore, the modular design of the wastewater treatment plant has also reduced the initial heavy investment challenge and allows an economical solution. These plants can readily be expanded as the wastewater flow and in turn capacity requirement of treatment plant increases. Due to this new trend in the water treatment industry, relatively smaller industries have started installing water treatment plants.
- Therefore, the growing concerns regarding the environmental impact of wastewater and water scarcity, stricter government regulation, and declining cost of water treatment plants are expected to drive the water treatment industry, and in turn, demand for the pump during the forecast period.
Asia-Pacific to Dominate the Market Growth
- Asia-Pacific is witnessing huge economic growth which has resulted in the development of industrial infrastructure. The industrial infrastructure in the region witnessing growth with policy level focus on driving the industrial sector.
- Most of the countries in the Asia-Pacific region are in a growing phase and the high rate of population growth has led to the increased requirement for water supply.
- Moreover, excess water extraction in countries, such as India, has resulted in a 61% decline in the water level between 2007 and 2018. This has translated into an increase in demand for high head pumps.
- In addition, during April 2000-June 2018, India attracted FDI investment of about USD 7 billion and USD 2.32 billion in the petroleum and natural gas, and mining industry, respectively. In October 2017, Vedanta Resources, a London-based company, announced its investment of USD 9 billion in the mining and hydrocarbon industry.
- This in turn, high investment, policy and various industries likely to propel the pump market in the region during the forecast period.
The pump market is moderately fragmented due to many companies operating in the industry. The key players in this market include Flowserve Corporation, Grundfos Holding A/S, KSB AG, ITT Inc, Sulzer Ltd., Ebara Corp., Weir Group plc, Schlumberger Ltd., Baker Hughes, Inc, Clyde Union, Inc., and others.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast, in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies & Regulations
- 4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
- 4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Centrifugal Pump
- 5.1.2 Positive Displacement Pump
- 5.2 End-user Industry
- 5.2.1 Oil & Gas
- 5.2.2 Water & Wastewater
- 5.2.3 Chemicals & Petrochemicals
- 5.2.4 Mining Industry
- 5.2.5 Power Generation
- 5.2.6 Others
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 South America
- 5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Flowserve Corporation
- 6.3.2 Grundfos Holding A/S
- 6.3.3 KSB AG
- 6.3.4 ITT Inc
- 6.3.5 Sulzer Ltd.
- 6.3.6 Ebara Corp.
- 6.3.7 Weir Group plc
- 6.3.8 Schlumberger Ltd.
- 6.3.9 Baker Hughes Co
- 6.3.10 Clyde Union, Inc.
- 6.3.11 Dover Corp
7 MARKET OPPORTUNITIES AND FUTURE TRENDS