Asia pacific is the strongest market among all for pumps market accounting for a market share of close to 52% in 2018, as the region comprises of a number of local as well as medium scale enterprises engaged in the business of manufacturing and selling different types of pumps and their equipment. Furthermore, the region has been experiencing a tremendous growth in its industrial sector which in turn is triggering the demand for pumps in agricultural, food, chemical, pharmaceutical and in other application areas.
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Driven by unprecedented growth in the global construction and oil & gas sectors, pumps market has registered considerable proceeds since the last few years. Specifically in the oil & gas industry, robustly designed pumps are required for applications like gasoline transfer, injection tasks, chemical transfer or steam stripping. The product, traditionally driven by fixed speed electric motors, offers enough momentum to transport oil and other fluids from one location to another. However, pumps driven by a variable speed electric motor drive system are now considered a better option in most cases.
Irrespective of different industries employing different types of treatment processes, all wastewater and sewage treatment plants commonly depend on wastewater pumps for undertaking their operations. These pumps are used to move wastewater from the collection pit to the treatment plant and back, and once purified, is used to move the treated water to places where it is required or to a storage tank. The demand for pumps is expected to escalate with the rising number of initiatives from private and public sector bodies targeted at wastewater treatment, thus charting out a profitable growth graph for the global pumps market.
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Based on position, pumps are categorized as of two types submersible and non-submersible. This segment is dominated by non-submersible pumps because of their growing use in surface application like pressure boosting, water transfer, turf irrigation, washdown application, storm water, waste water and in other areas. Submersible pumps hold a comparatively smaller market due to their restricted use in offshore areas. However, with increasing exploration activities related to deep-water and increase in subsea operations are factors that will offer growth opportunities to submersible pumps.
Based on reports from EIA’s Short-Term Energy Outlook (STEO), the U.S. may be at par or may have surpassed Saudi Arabia and Russia to become one of the world’s major crude oil producers in early 2018. In its October STEO, EIA has projected U.S. crude oil production to average around 11.8 million b/d in 2019 — around 300,000 b/d higher than its forecast in the September STEO. Additionally, the agency also claims that the country is likely to become a net energy exporter in 2020 with a rapid increase in natural gas, crude oil, and natural gas plant liquid (NGPL) production and a slump in U.S. energy consumption. This scenario undeniably points toward enhanced product adoption in the U.S. in the oil & gas sector, which would in consequence, majorly impel pumps market share.
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Global pumps market covers various medium and large-scale manufacturers in the industry. Key players in pumps market include Kirloskar Brothers Ltd., Xylem Inc., Atlas Copco, MultiQuip, Gorman Rupp, Magnum, Wacker Neuson, Generac, Gardner Denver, Grundfos, Sulzer Ltd., Flowserve Corporation, Ebara Corporation, Shimadzu Corporation, Schlumberger, Baker Hughes etc. Some key players in the industry are focusing towards introducing new and innovative products to maintain competitive environment in the market. For instance, Gardner Denver introduced a new fluid transfer technology in 2018 to differentiate itself from other players.
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