Global Water Pump Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Water Pump Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global water pump market report has been segmented on the basis of type, application, and region.

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Global Water Pump Market 
Overview:

A water pump is a mechanical device that is designed to circulate coolant through water-cooled engines. Water pumps are commonly used on construction sites for dewatering, or removing excess water accumulation. There are two basic types of water pumps centrifugal and positive displacement. Both types are designed to move water from one place to another continuously.

Global Water Pump Market 
Dynamics:

Increasing number of water recycling and water waste treatment plants in developed and developing countries is a major factor expected to drive growth of the global market. In addition,
rapid industrialization and technological advancements, such as intelligent pump system in the water pump industry are some other factors expected to support growth of the global market to certain extent.

Moreover, increasing use of water pumps in several household applications including in-house water fountain, gardening, and water coolers is another factor expected to support growth of the target market. furthermore, flourishing agriculture sector in developing countries, coupled with increasing adoption of water pumps for wide agriculture applications is another factor expected to boost growth of the market.

However, consumer’s preference for low-priced water pumps instead of reputed brands is a major factor expected to hamper growth of the global market to certain extent.

Technological advancements for development of low cost solar water pumps is expected to create new opportunities in terms of revenue for players operating in target market over the forecast period. In addition, increasing expansion activities by major player through strategic merger and acquisition activities is expected to further support growth of the market to certain extent.

Segment analysis:

On the basis of application, the oil & gas segment is expected to register significant growth in terms of revenue over the forecast period, owing to increasing exploration activities in developed economies.

On the basis of type, the centrifugal pump segment is expected to register significant share in terms of revenue over the forecast period.

Region Analysis:

The market in Asia Pacific is expected to dominate in the global market in terms of revenue and is expected to continue its dominance over the forecast period. The dominance can be attributed to growing dependency on groundwater for irrigation and other agricultural purposes instead of monsoons in developing countries such as India and presence of prominent players operating in countries in this region. The markets in North America and Europe are expected to contribute significant revenue shares in the global market, owing to increasing demand for water pump from oil & gas industry. In addition, increasing public and private partnership is expected to further support growth of the target market in this region to certain extent.

The market in Latin America is expected to witness moderate growth, owing to increasing construction of water recycling industries and increasing presence of major manufacturers in developing countries such as Brazil and Argentina in this region.

Global Water Pump Market Segmentation:

By Type:

Centrifugal Pump
Reciprocating Pump
Rotary Pump

By Application:

Oil & Gas and Refining
Chemical
Water and Wastewater