NEW YORK, December 3, 2015 /PRNewswire/ --
The global water pump market was valued at $40,452.9 million in 2014 and it is expected to grow at a CAGR of 5.6% during the period 2015 - 2020. The rapid growth of the urban population is creating pressure on the existing water infrastructure, which includes delivery of utility water and removal and treatment of wastewater. To overcome this situation, various governments in Asia and Africa are expected to increase their spending on irrigation and drinking water schemes. In 2011, in its Twelfth Five Year Plan, the Chinese government allocated $112 billion for upgrades to water treatment and piping systems. Moreover, over the last few years, the use of water pumps has increased in urban households. The lifestyle of the urban population is fast-paced and modern as compared to that of the rural population. Majority of manufacturers are offering variety of water pumps to meet the growing demand from households.
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Some of the drivers behind the growing demand of global water pumps include growing construction industry and rising disposable income, growing water scarcity, rapid industrialization in developing economies, and rising level of urbanization. Growing threat from unorganized players in Asia-Pacific is one of the major restraints for water pump market.
On the basis of technology, the water pump market can be segmented into centrifugal and positive displacement pumps. The various positive displacement pumps include rotary pump, reciprocating pump, and others. A centrifugal pump refers to a rotodynamic pump that uses a rotating impeller to increase the pressure and flow rate of a fluid. Centrifugal pumps are most commonly used to move a fluid through a piping system. These pumps consist of two basic components - rotary element or impeller and stationary element or casing. On the other hand, positive displacement pumps function by forcing a fixed volume of liquid from the inlet pressure section of the pump into the discharge zone. In positive displacement pumps, efficiency increases with increase in viscosity. By technology, the centrifugal water pump segment held larger share, compared to positive displacement water pump, in the global water pump market in 2014, and it is expected to grow at a CAGR of 4.8% during the forecast period of 2015-2020. Based on end-user, the municipal water and wastewater industry held the largest share of the global water pump market in 2014.
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By geography, the Asia-Pacific water pump market is expected to witness the fastest growth (6.5% CAGR) during 2015 - 2020. This is mainly due to the rising urban population and industrialization in the emerging markets of China and India. The developing economies, such as India and China, are witnessing rapid industrialization and China is the world's largest industrial producer. According to data published by the United Nations, China's total industrial production was only 62% of that of the U.S. in 2007, which increased to 120% by 2011. According to the Central Intelligence Agency's (CIA) World Factbook, in 2012, China's industrial production was valued at $3.7 trillion compared to $2.9 trillion for the U.S. While in Europe, the growing construction of residential and non-residential buildings is driving the demand for water pump.
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The key companies operating in the global water pump market include Flowserve Corporation, Ebara Corporation, Sulzer Ltd., Grundfos Holding A/S, Kirloskar Brothers Limited, KSB Aktiengesellschaft, Gardner Denver, Inc., ITT Corporation, Torishima Pump Mfg. Co., and The Weir Group PLC.
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