The rise of oil & gas ventures and expanded consumption across the European agriculture sector will continue to boost the growth of the global pump market.
According to the latest Arizton’s market research report, the global pump market size to reach USD 86 billion by 2025, growing at a CAGR of 5% during the forecast period.
Global Pump Market Growth
Speciality pumps and pumps with advanced technology such as remote monitoring facilities is expected to witness growth in the global pump market. With the implementation of IoT, big data, and artificial intelligence, the pump manufacturers are undertaking a digital revolution in the industry. The infrastructural expansion is increasing the sales of pumps in the emerging countries at a higher pace. The strong demand from replacement market in countries such as the US, China, and others are expected to significantly contribute to the global pump market.
Increasing of Mergers and Acquisitions
The leading players in the global pump market is leveraging M&A activities to capitalize opportunities in new and untapped regions. The global players such as Wilo, Sulzar, and others have entered M&As to enhance their market opportunities by further establishing their brand presence across unexplored regions. The market concentration is expected to grow in the future as the international players are trying to grow inorganically by acquiring leading regional players. This is anticipated to help them expand their service portfolio and geographical reach in the global pump market.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by product type, end-users, and geography
- Competitive Landscape – 15 Key Company Profiles and 23 Other Prominent Vendors
Global Pump Market – Geographic Analysis
Europe is a one of the major markets for pumps, and the European market offers many opportunities for pump exporters. The rise of oil & gas ventures and expanded consumption across the European agriculture sector will continue to boost the growth of the global pump market. The global pump market in Latin America is expected to be driven by industrial end-use sectors such as mining, oil & gas, construction, wastewater and water and others, agricultural, and commercial application use of pumps. Brazil and Mexico are expected to offer significant growth possibilities for market vendors, owing to the development in industrial use of pumps in the region during the forecast period.
Vendors in the global pump market is actively investing in R&D to develop fundamental technology to establish competitiveness by enhancing core product technology. The ability to use product portfolio, solutions, and services to meet customer needs is a competitive strength in the global pump market. Vendors are creating value by optimizing the selection of pump for the customers’ specific application and providing technical expertise on product and service capabilities. Vendors have increased their distribution through well-established channels and their reputation for quality that is significantly enhancing their global pump market position.
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