Increase in construction activities, surge in demand from the mining industry, and strong industrialization along with rapid urbanization in emerging economies propel the growth of the global dewatering pumps market.
PORTLAND, Oregon, Aug. 19, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Dewatering Pumps Market by Type (Submersible Dewatering Pumps and Non-submersible Dewatering Pumps) and Application (Construction & Agriculture, Oil & Gas, Municipal, Mineral & Mining, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." The report provides a detailed analysis of the drivers & opportunities, wavering market trends, competitive market scenario, and market size & estimates. According to the report, the global dewatering pumps market was estimated at $6.37 billion in 2018 and is expected to reach $10.13 billion by 2026, registering a CAGR of 5.9% during the period 2019–2026.
Increase in construction activities, surge in demand from the mining industry, and strong industrialization along with rapid urbanization in emerging economies fuel the growth of the global dewatering pumps market. On the other hand, unstable prices of raw material and high operating cost of the same hamper the growth to some extent. However, rise in awareness about several government regulations coupled with mounting demand for wastewater management is expected to create multiple opportunities in the industry.
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The construction and agriculture segment to lead the trail by 2026-
Based on application, the construction and agriculture segment contributed to more than two-fifths of the total market share in 2018 and is expected to retain its dominance till 2026. Surge in investment in residential and non-residential construction projects, as well as farming all over the world has spurred the growth of the segment. The municipal segment, on the other hand, is projected to grow at the fastest CAGR of 7.1% through 2019–2026.
The non-submersible dewatering pumps segment garnered the lion's share in 2018-
Based on type, the non-submersible dewatering pumps segment accounted for three-fourths of the total market revenue in 2018 and is anticipated to rule the roost. Simultaneously, the submersible dewatering pumps segment is predicted to register the fastest CAGR of 6.4% throughout the study period. It is low cost and the fact that it requires less operating space have worked as the major driving factors fueling the growth.
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Asia-Pacific to dominate in terms of revenue during 2019-2026-
Based on geography, the Asia-Pacific segment held the major share in 2018, contributing to more than two-fifths of the total market. Increasing demand from many sectors such as construction, mining, municipal, and others in economies such as China, and India has paved the way for high quality and reliable dewatering pump in the region. At the same time, the LAMEA region is predicted to cite the fastest CAGR of 6.7% throughout the estimated period.
Frontrunners in the industry-
The key market players analyzed in the report include EBARA Corporation, Flowserve Corporation, Sulzer Ltd., KSB SE & Co., The Weir Group PLC, Gorman-Rupp, Xylem, Grundfos, Atlas Copco, and ITT INC.
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