Pumps Market Is Expected to Expand Significant CAGR from 2020 to 2025
Category: #world  By Rahul Varpe  Date: 2020-04-28
  • share
  • Twitter
  • Facebook
  • LinkedIn

Pumps Market Is Expected to Expand Significant CAGR from 2020 to 2025

Global Pumps Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends.

The Pumps Market is set to grow from its current market value of more than USD 70 billion to over USD 91 billion, as reported in the latest study. Oil & gas industry is the major influencer behind escalating global pumps market as pumps are the key equipment used in upstream and midstream operations to accelerate transfer of fluid from one location to other. Oil pumps are used to lift fluid out of an oil well when there is not enough ground pressure to force the oil on the surface. These pumps are used mainly in onshore areas where oil is in abundant but the ground needs external force to release it.

Request for a sample copy of this report @ https://www.decresearch.com/request-sample/detail/3212

The Pumps Market is projected to register a CAGR of 2.4% during the period 2019 -2025.  The Pumps Market report coverage is inclusive of various parameters such as the market size, regional growth opportunities, major vendors in the market, drivers and constraints, segmental analysis, as well as the competitive landscape.

Despite of having applications in several business industries, global pumps market growth is hindered by high maintenance and operational cost of the equipment, as eventually some parts get damaged and need to be replaced or repaired immediately, otherwise they can hamper the total productivity of the plant.

Stationary pumps are widely accepted in pumps industry having a market share of around 75% in 2025 owing to its strong presence in oil & gas industry as well as in concrete applications. On the other hand, increasing fire accidents at manufacturing industries and at residential and commercial areas is the main reason contributing towards growth of portable pumps worldwide.

Market by Application –

·         Mining,

·         Building & Construction,

·         Oil & Gas,

·         Industrial,

·         Municipal

Make an inquiry for purchasing this report @ https://www.decresearch.com/inquiry-before-buying/3212

Pumps have their footprints in a range of applications including mining, oil & gas, industrial, municipal and in many other areas. Oil & gas industry is one of the key end-user sectors owing to its variety of feature and use upstream activities as well as in midstream operations. The other segment that have use of pumps is mining industry as mining operations requires huge pumping systems for dewatering operations before mining starts as well as for washing purposes of the extracted hydrocarbon, thereby propelling demand for overall pump market.

Asia pacific is the strongest market among all for pumps industry 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.

Request for discount @ https://www.decresearch.com/request-discount/3212

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.



About Author

Rahul Varpe

Email: [email protected]   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

Read More

More News By Rahul Varpe

Range Hood Market - Key Regions, Segmentation and Competitive Landscape Report to 2026
Range Hood Market - Key Regions, Segmentation and Competitive Landscape Report to 2026
By Rahul Varpe

Range Hood Market is expected to exceed USD 10 billion by 2026. Growing trend of wall-mounted and island hoods in modern kitchens owing to the transforming residential & commercial infrastructures is driving the industry growth.

The ra...

High Speed Blowers Market - Business Development and Trends Analysis Research to 2025
High Speed Blowers Market - Business Development and Trends Analysis Research to 2025
By Rahul Varpe

The rising aquatic concerns is directly boosting the water treatment activities in the region and propelling the high speed blowers market by 2025. The product also are widely used across oil & gas industry for aeration in hydraulic power stat...

Asphalt Shingles Market with Emerging Trends and Revenue Estimation By 2025
Asphalt Shingles Market with Emerging Trends and Revenue Estimation By 2025
By Rahul Varpe

Increasing building construction activities, primarily growing single family housing starts in North America is expected to spur demand for roofing materials over the forecast period. New building construction activities in both, residential and n...