NEW YORK, August 17, 2015 /PRNewswire/ --
The global water pump market was valued at $40,452.9 million in 2014 and it is expected to grow at a CAGR of 5.6% during the period 2015 - 2020. The factors driving the growth of global water pump market include growing construction industry, rising disposable income, growing water scarcity, rapid industrialization in developing economies, and rising level of urbanization. By technology, the centrifugal water pump segment accounted larger share in the global market in 2014, and it is expected to grow at a CAGR of 4.8% during the period 2015 - 2020. Water scarcity is one of the major factors driving the demand for water pumps, as governments around the world are directing industries to recycle and reuse water. In 2011, in its Twelfth Five Year Plan, the Chinese government allocated $60 billion for the urban wastewater system in the country.
Browse report description with detailed TOC on "Global Water Pump Market Size, Share, Development, Growth and Demand Forecast to 2020" at: https://www.psmarketresearch.com/market-analysis/water-pump-market
The information and data in the publication "Global Water Pump Market Size, Share, Development, Growth and Demand Forecast to 2020" represent the research and analysis of data from various primary and secondary sources. Bottom-up approach has been used to calculate the global water pump market by technology and by end-user. The market numbers for regions are also derived through bottom-up approach. P&S Market Research analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, aided by informed and detailed online and offline research.
Rapid growth of the urban population is creating pressure on the existing water infrastructure which includes delivery of utility water and removal and treatment of wastewater. To overcome this situation, various governments in Asia and Africa are expected to increase their spending on irrigation and drinking water schemes. This, in turn is expected to drive the demand for water pumps in the regions. The impact of rising urban population on water pump market is anticipated to remain high over the next few years.
By geography, Asia-Pacific water pump market is expected to witness the fastest growth (6.5% CAGR) globally during 2015 - 2020. Rising level of urbanization, rapid industrialization and rising disposable income are some of the major driving forces for the Asia-Pacific water pumps market, particularly in countries such as India and China. China is the largest market for water pumps in the region; however, India is expected to witness highest growth in the near future. The impact of massive industrialization in developing countries on the water pumps market is anticipated to remain high over the next few years. This is due to rise in demand for water pumps from industries such as oil & gas, chemical, and energy in these countries.
The restraints associated with the global water pump market include growing threat from unorganized players in Asia-Pacific.
The key companies operating in the global water pump market include Flowserve Corporation, Ebara Corporation, Sulzer Ltd., Grundfos Holding A/S, Kirloskar Brothers Limited, KSB Aktiengesellschaft, Gardner Denver, Inc., ITT Corporation, Torishima Pump Mfg. Co., and The Weir Group PLC.
WATER PUMP MARKET SEGMENTATION
Water Pump Market by Technology
- Centrifugal Water Pump
- Positive Displacement Water Pump
Water Pump Market by End-User
- Municipal Water and Wastewater
- Oil and Gas
Water Pump Market by Region
- North America
- The U.S.
- Rest of North America
- Western Europe
- Eastern Europe
- Rest of Asia-Pacific
- Rest of the World (ROW)
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