Selbyville, DE -- (SBWire) -- 06/18/2020 --Driven by expansive application scope in mining, industries, construction, oil & gas and municipal sectors, global pumps market will showcase significant growth through 2025. Oil & gas industry is one of the major consumers of pumps. The sector wholly works on the capability of transferring gases and fluids from one location to another, and pumps have a crucial role to play in the upstream and midstream operations.
Mining sector is another key adopter of pumps due to huge requirement of pumping systems for dewatering operations before mining starts and also for the washing of the extracted hydrocarbon. Estimates suggests that pumps market size will exceed USD 91 billion globally in terms of annual remunerations by 2025.
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Centrifugal pump technology are the commonly used in pump for the transferring fluids. The pumps based on centrifugal technology are proven to be most efficient for delivering liquid from one location to another in numerous industries including mining, agriculture, power generation plants, wastewater treatment, chemical plants and other applications. These pumps are witnessing demand from various industries as they can handle large volume of fluids, deliver very high flow rates and possess the ability to adjust flow rates over a wide range.
Stationary pumps are widely used for oil & gas and construction applications. Rise in global infrastructural development activities may fuel the product demand. As per estimates, stationary pumps will hold 75% of the global pumps market share up to 2025. On the other hand, portable pumps are experiencing consistent demand from fire extinguishing applications. Rise in number of fire accidents at residential and commercial areas as well as manufacturing facilities is a key contributor towards increasing demand for portable pumps.
Non-submersible pumps are in high demand on account of their growing use in surface application such as water transfer, pressure boosting, turf irrigation, wastewater, storm water, washdown application, among others. While submersible pumps market holds a relatively smaller share due to their restricted use in offshore areas. Although, increasing exploration activities related subsea and deep-waters operations will offer lucrative growth opportunities for submersible pumps business.
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Asia pacific is a major regional ground for pumps deployment and accounted for 52% of the industry share in 2018. The region comprises of large number of local and medium scale enterprises venturing in the business of manufacturing and selling different types of pumps and other related equipment. Also, the region has been experiencing exponential growth in its industrial sector which in turn is bolstering the demand for the equipment in food, agricultural, chemical, pharmaceutical and other application areas.
Key players manufacturing and supplying pumps worldwide include Xylem Inc., Kirloskar Brothers Ltd., Atlas Copco, Gorman Rupp, MultiQuip, Magnum, Wacker Neuson, Gardner Denver, Generac, Grundfos, Flowserve Corporation, Sulzer Ltd., Schlumberger, Ebara Corporation, Shimadzu Corporation and Baker Hughes, among others.
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