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The global water pump market size is expected to reach US $
Source:未知|Popularity:0|release date:2020-02-27 15:49:31
A well-known research institute in the United States pointed out in a recent study that the global pump market is highly integrated. In order to maintain their market position, pump companies have continued to develop new technologies, and have also strengthened the merger and acquisition of peer pump companies. As a result, the global pump market integration has further improved.
However, due to the non-organic growth of the business, the market has shown a certain degree of stagnation. In the past few years, the level of competition has been low, which has also become the main incentive for small and new enterprises to enter this market.
It is reported that from 2017 to 2025, the global water pump market will advance at a compound annual growth rate of 4.9%, from US $ 43.599 billion in 2016 to US $ 66.852 billion in 2025.
This growth should be attributed to the continuous increase in the number of water treatment, wastewater recycling and treatment plants, especially in emerging economies.
As China's industrialization progresses, and the growing demand for clean water, it promotes the application of water treatment technology, which in turn increases the demand for water pumps. The boom in agriculture and the construction industry continues to increase demand for efficient water pumps. In recent years, the application of water pumps in this field has increased significantly, and it is expected to do so in the next few years. All these have contributed positively to the growth of the global pump market.
The emergence of various platforms has driven market growth
The booming e-commerce industry offers better opportunities to consumers and manufacturers by providing them in large numbers. These online portals are expanding the availability of pumps to promote products to cater to customers around the world. The increase in promotional activities through online sales channels is expected to provide the most advantageous opportunities for major players in the global pump market in the coming years.
Governments in several countries have also launched more programs, especially in emerging economies, which have provided extensive support for the pharmaceutical industry, which has positively impacted global pump sales.
During the reporting period, the Asia-Pacific region dominated
From a regional perspective, it is expected that the Asia-Pacific region will still dominate the reporting period and gain the main market share of global water pumps due to the continuous improvement of infrastructure construction in many countries including India, China and Indonesia. In addition, the region is expected to grow at a CAGR of 5.8% during the reporting period. North America, as a mature pump market, is expected to grow at a compound annual growth rate of 4.5% during the reporting period.