DUBAI, UAE / ACCESSWIRE / September 15, 2020 / According to a new market study by Future Market Insights (FMI), the global dewatering pumps market is projected to behold remarkable growth in terms of value between 2018 and 2028.
The growth of the market is majorly attributed to persistent demand in commercial and industrial applications coupled with an increasing number of construction and mining activities. Furthermore, rapid urbanization and industrialization in emerging economies have created a significant demand for construction, which in turn, is expected to burgeon the demand for dewatering pumps.
Furthermore, a rising emphasis on improving drinking water facilities in developing economies such as Asia Pacific and MEA will continue to drive the sales of dewatering pumps in these regions. Along similar lines, exploration of new water sources and the growing number of desalination projects are creating demand for pumps with enhanced capacity and efficiency.
"Market players are focusing on shifting their manufacturing facilities to Asia Pacific to leverage the presence of a flourishing agricultural sector that is expected to remain a crucial end-use sector," opines FMI analyst.
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Dewatering Pumps Market - Key Takeaways
- The global dewatering pumps market is forecasted to expand at a healthy CAGR of 5.2% through 2028 and will surpass a valuation of US$ 9.5 Bn.
- The civil infrastructure construction and mining & metals segments are poised to account for remarkable market share through the forecast period, backed by a rising number of activities in the domain.
- An increase in water supply in rural regions and the introduction of government-backed sanitation projects in Asia Pacific is expected to transmute into the sales of centrifugal pumps, especially in domestic and agricultural applications.
- Government initiatives to make drinking water available across Asian nations is expected to further boost the demand for dewatering pumps.
Dewatering Pumps Market - Key Trends
- The proliferating production volume of oil and gas, especially in the US, is offering lucrative revenue opportunities to the market players.
- High demand for automated, energy-efficient, and environmental-friendly pumps in the energy & power sector has emerged as a lucrative trend driving the growth of the market.
Dewatering Pumps Market - Regional Analysis
- Asia Pacific, led by China and India, is forecasted to metamorphose into the largest regional market owing to the presence of major manufacturers and increased spending on energy and water infrastructure development.
- China is anticipated to remain the leading exporter of centrifugal pumps and will continue to channel the majority of revenue to the market.
- North America is expected to closely follow China backed by growing oil and gas activities in the region.
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Dewatering Pumps Market - Competitive Landscape
Key players operating in the dewatering pumps market include Sulzer, Grundfos, The Weir Group, Xylem, Ebara, KSB, Tsurumi Pump, Wacker Neuson, Honda Power Equipment, Zoeller Pumps, Nanfang Pump Industry, Mersino Dewatering, Veer Pump, and Zhejiang EO Pump, among others. Market players are focusing on expanding their geographical footprint and product portfolio to gain a competitive edge. Moreover, players are seeking contracts and long-term tie-ups with Engineering Procurement and Construction (EPC) companies to secure long-term growth prospects.
Dewatering Pumps Market - Taxonomy
Equipment:
- Civic Infrastructure Construction
- Commercial Construction
- Tunnels
- Mining & Metals
- Paper & Pulp
- Chemicals
- Power Generation
- Food & Beverages
- Municipal
- Others
Capacity:
- 0.5-3 hp
- 3-10 hp
- 10-50 hp
- Above 50 hp
Application:
- Sludge Pumps
- Slurry Pumps
- Drainage Pumps
- Hybrid Pumps
Technology:
- Positive Displacement Type
- Centrifugal Type
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa
- China
- South East Asia & Pacific (SEAP)
- India
- Japan
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Get Valuable Insights into Dewatering Pumps Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global dewatering pumps market, presenting historical demand data and forecast statistics for the period from 2018-2028. The study divulges compelling insights on the dewatering pumps market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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SOURCE: Future Market Insights