Various end-use industries, particularly chemicals, power, and oil & gas, are undertaking refurbishment activities of plants and various pumping systems to increase production efficiency. Growing demand for retrofitting, upgrades, and replacement of aging assets and industrial systems in developed regions is projected to drive the growth of the water pumps market during the forecast period (2019-2029).
The global water pumps market is estimated to reach US$ 64 Bn valuation by the end of 2029.
CLICK HERE TO GET A SAMPLE REPORT (INCLUDING FULL TOC, TABLE & FIGURES) – https://www.persistencemarketresearch.com/samples/2985
Key Insights of Water Pumps Market Study
GET A CUSTOMIZED SCOPE TO MATCH YOUR NEED ASK AN EXPERT – https://www.persistencemarketresearch.com/ask-an-expert/2985
“Miniaturization of water pumps will increase their demand, especially submersible pumps that are used for domestic applications to get sufficient water. Moreover, it is expected to be a fast-growing and cost-efficient solution for next-generation production processes,” says a PMR analyst.
Water Pumps Market Participant Insights
The global water pumps market is fragmented, owing to the presence of a large number of international and domestic manufacturers. Moreover, numerous manufacturers are offering identical products of varying capacities as per end-user requirements. Leading market players are focusing on enhancing their presence in developing economies such as India, Indonesia, and Thailand, to expand their market presence, resulting in intensifying market competitiveness in emerging markets.
This will also increase value-addition in product offerings through portfolio rationalization. Some of the key participants mentioned in the water pumps market report are Xylem Inc., Grundfos, Sulzer AG, and Wilo SE.
GAIN COMPLETE ACCESS TO THE REPORT – https://www.persistencemarketresearch.com/checkout/2985