Water pumps are considered to be one of the oldest and most widespread machines, and they are available in a wide variety of applications. Water pumps are diverse products that are engineered, configured, and are standardized with essential auxiliary equipment. Newly developed state-of-the-art water pumps offer better performance reliability with efficient results. Water pumps can be classified by their method of displacement such as positive displacement pumps (reciprocating and rotary) and centrifugal pumps.
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Water pumps are utilized in a vast range of end-user industries such as oil and gas, chemical, waste water treatment plants, and general industries such as pulp and paper manufacturing, mining, food and beverages, and power generation. Increase in the utilization of water pumps in the oil and gas sector can be attributed to the rising demand for energy. New technologies in water pumps enable efficient separation processes for liquids and gas. Similarly, rise in the number of wastewater treatment plants is primarily due to the increasing demand for domestic clean water, industrial water, flood control, and desalination purposes.
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Demand from General Industry Sector to Present Lucrative Growth Avenues
In terms of pump type, the market for water pumps is segregated into centrifugal pump, reciprocating pump, rotary pump and others. Centrifugal pumps dominated the market for water pumps accounting for more than half of the market share in 2016. Centrifugal pumps are widely used across a vast set of applications and are available in different configurations such as axial and mixed flow pumps, single-stage pumps, submersible pumps, multi-stage pumps, and sealless and circular flow pumps to meet the challenges associated with flow control across various end use industries.
In terms of the key end users of water pumps, the global water pump market has been assessed in the report for industries such as oil and gas and refining, power generation, chemical, water and wastewater, and general industry. 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 5.2% and 5.0%, respectively, between 2017 and 2025. The demand of water pumps from power generation sector is expected to gain traction during the forecast period particularly due to the increasing investment in power and energy sector in emerging economies. For instance, the Planning Commission of India has planned for the capacity addition of about 72,000 MW thermal power plants during the 12th FYP, augmenting the demand for water pumps.
Asia Pacific to Remain Most Promising Regional Market
In terms of regional demand, Asia Pacific was the dominant region accounting for majority of the market share in 2016. With a massive rise in infrastructure development activities, particularly in emerging economies such as China, India, and Indonesia, the demand for water pumps in the region is expected to witness significant traction during the forecast period. The Asia Pacific region is also poised to register a promising CAGR of 5.8% during the forecast period. This is attributed to the rapid pace of industrialization in emerging nations such as India and China. 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. The North America market is expected to expand at a CAGR of 4.5% during the assessment period.
Some of the leading companies operating in the largely consolidated global water pump market are Xylem Inc., Sulzer, Flowserve Corporation, KSB Inc., Danfoss A/S, Wilo SE, Weir Group PLC., Ebara Corporation, Colfax Corporation, and Alfa Laval.