New York, NY -- (SBWIRE) -- 04/24/2019 -- Water pumps are one of the most important mechanical devices with application in several industries and households. Growing urbanization and industrialization in the developing countries and increasing use of water pumps in industries is driving the demand of water pumps market globally. Based on end user applications, water pumps are categorized under four segments namely industrial water pump, municipal water pump, agricultural water pump, and domestic water pump.

Based on technology, the two categories of water pump are centrifugal water pump and positive displacement design. Centrifugal water pumps are used widely in buildings, wells, fire protection system and hot water circulation in industries, whereas positive displacement design type water pumps are used in hydraulic systems. Positive displacement design pumps are further segmented as reciprocating, metering, and rotary pumps. Positive displacement design pumps are generally larger than centrifugal pumps of equal-capacity.

Asia Pacific is the largest market for water pumps followed by Europe and North America. Asia Pacific has the highest growth rate in the water pumps market, mainly due to surge in infrastructural developments in developing countries such as India and China. On the basis of product segments, centrifugal water pumps hold majority of the market share and is expected to grow further with steady rate owing to increasing demand from industries such as oil and gas and municipalities. By end user application, industrial water pumps had the largest market share in 2013 in the water pumps market. Industrial water pumps are also growing at a high rate due to increasing industrialization in growing Asia Pacific countries where oil and gas industry are the major end users of water pumps.

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The increasing number of water recycling and water waste treatment plants, especially in India and China, is fuelling the water pumps market in Asia pacific. New technologies, such as intelligent pump system, in the water pump industry have been extending their cost benefits to the users. Apart from water circulation, water pumps find their usage in several household applications including in-house water fountain, gardening, and water coolers.

However, certain factors are restraining the water pumps market which includes the growing threat from unorganized players in Asia Pacific, especially in the agricultural domain. The poor farmers in the developing countries are price sensitive and prefer to buy low-priced water pumps instead of reputed brands.

The global water pumps market is advancing towards consolidation with a number of mergers and acquisitions (M&A) taking place globally. The acquisition of Finder Pompe SpA by Dover, acquisition of Alaska Pump & Supply Inc. by DXP Enterprises and acquisition of PIMS Group by Xylem, are some of the major acquisitions that took place in 2013. Recently in 2014, Saudi Pump Factory, the largest pump manufacturer in the gulf region sold its 75% stake to Sulzer Ltd. These inorganic expansions of companies are reducing the industry rivalry in the water pump market.

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The major companies operating in water pump market includes , General Electric Company, Weatherford International Inc, Weir Group PLC, Torishima Pump Mfg. Co. Ltd., Kirloskar Brothers Limited, Watson-Marlow, Inc., Henan Province Xixia Automobile Water Pump Co. Ltd., Saudi Pump Factory, and Shanghai Kai Quan Pump (Group) Co. Ltd.