LONDON, Sept. 7, 2016 /PRNewswire/ -- Water pump refers to the most dynamic mechanical devices with applications in various industries and households. 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 upgrading water treatment and piping systems. Moreover, over the past 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 varieties of water pumps to meet the growing demand from households.
On the basis of technology, the global water pump market has been 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. Centrifugal pumps are widely used in wells, buildings, hot water circulation systems, and fire protection systems in industries. 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. Positive displacement pumps can be used in industries, such as pulp and paper, pharmaceutical, chemical, wastewater treatment, and food and beverage.
The global water pump market was valued at $42,435.1 million in 2015, and it is expected to grow at a CAGR of 5.9% during 2016-2022. The growing construction industry, increasing disposable income, growing water scarcity, rapid industrialization in developing economies, and increasing level of urbanization are driving the growth of the water pump market.
Among the various applications, the municipal water and wastewater segment accounted for the largest share in the global market in 2015, and it is anticipated to retain its dominance during the forecast period. Among the two technologies, the centrifugal water pump segment accounted for the larger share in the global water pump market in 2015.
Asia-Pacific accounted for the largest share (42.9%) in the global water pump market, and it is also anticipated to witness the highest growth (CAGR 6.6%) during 2016 - 2022. The increasing level of urbanization, rapid industrialization and rising disposable income are some of the major growth driving forces for the Asia-Pacific water pumps market, particularly in countries, such as India and China.
Some of the major players 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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