Asia Pacific Water Pumps Market Overview:
Water pumps are one of the most important mechanical devices that are classified by their method of displacement such as Centrifugal water pumps and Positive Displacement water pumps. Centrifugal Water Pumps are used widely in Buildings, Wells, Fire protection system and Hot water circulation in Industries, whereas Positive Displacement Water Pumps are used in Hydraulic systems. Nearly all pumps fall within these two categories, with centrifugal being the most common. However, positive displacement pumps come in a wider variety such as gear, screw, and many other types of pumps. The most common type among centrifugal pump is the radial flow pump. Both of these types of pumps are essential components in the oil and gas industry, chemical industry, waste water treatment plants and general industries such as pulp and paper manufacturing, mining industries, food and beverages, and power generation. The general industry sector accounted for majority of the market in 2016. The power generation, and water and wastewater sectors are projected to expand at significant CAGRs of XX% and XX%, respectively, between 2018 and 2023.
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Asia Pacific Water Pumps Market Drivers and Restraints:
Industrial water pumps are also growing at a high rate due to increasing in industrialization in Asia Pacific countries where oil and gas industry is the major end-user of water pumps. The increasing number of water recycling and waste water treatment plants, especially in India and China, is boosting the water pumps market in Asia pacific. New technologies, such as intelligent pump system, in the water pump industry have been extending their cost benefits to the users. However, certain factors are restraining the market that includes the growing threat from unorganized players in Asia Pacific, especially in the agricultural domain. With a huge rise in infrastructure development activities, particularly in economics such as China and India the demand for water pumps in this region is expected to witness significant drag during the forecast period. The poor farmers in the developing countries are preferred to buy low-priced water pumps instead of reputed brands, resulting in the drop of water pumps market. India market is witnessing a rapid growth in on the back of expending ground water level, rapid urbanization and various infrastructures development includes the construction of roads, home, toilets, schools and cleaning of major water bodies like rivers and ponds.
Asia Pacific Water Pumps Market Geographical Segmentation:
In terms of regional demand, Asia Pacific was the dominant region accounting for majority of the market share in 2016. The Asia Pacific region is also assured to register a promising Compound Annual Growth Rate of XX% during in the forecast period. The market in North America is expected to witness steady growth owing to the vast rise in fracturing activities in the region in the past few years. It is expected to expand at a CAGR of XX% during the assessment period. In India an increasing focus towards improved water management will drive demand for water pumps in the country to increase XX billion dollars by 2023.
Leading Companies in Asia Pacific Water Pumps Market:
Xylem Inc., Sulzer, Flowserve Corporation, KSB Inc., Danfoss A/S, Wilo SE, Weir Group PLC., Ebara Corporation, Colfax Corporation, and Alfa Laval, Kirloskar Brothers Limited, KSB Pumps Limited, V-Guard, Crompton Greaves, CRI Pumps Pvt. Limited and Texmo Industries, etc. Saudi Pump Factory, the largest pump manufacturer in the gulf region sold its 75% stake to Sulzer Ltd. These inorganic expansions of companies are impacting the industry in the water pump market.
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