Increasing demand for energy efficient water pumps in new building constructions, and water & wastewater treatment industry to drive global water pumps market during 2016-2025
According to TechSci Research report “Global Water Pumps Market By Type, By End User, By Region, Competition Forecast and Opportunities, 2011 – 2025”, global water pumps market is projected to surpass US$ 67 billion by 2025, on account of growing demand from emerging economies in Asia-Pacific. Asia Pacific is the largest consumer of water pumps in the world, owing to rapid urbanization and industrialization in the region. In addition, increasing demand for efficient wastewater treatment systems in India and China coupled with soaring demand for water pumps in residential as well as oil & gas industry in Asia-Pacific is projected to augur well for global water pumps market in the coming years. China industrial water treatment market was valued at US$ 6.1 billion in 2015. Moreover, emerging applications of water pumps in power, food & beverage, pharmaceuticals and water & wastewater industry is expected to boost demand for water pumps in Asia-Pacific over the next nine years.
“Global Water Pumps Market”
Further, in order strengthen foothold in global water pumps market, various water pump manufacturers are expanding their base in different countries through mergers and acquisitions. Increasing installation of water & wastewater treatment systems across the globe, growing population base, rising consumption of water coupled with depleting natural water resources is expected to boost demand for water pumps globally. A strong demand for water pumps is emanating from emerging economies such as China and India. However, Europe and North America still contribute to a major share in demand for water pumps, on account of rising investment in oil & gas and power industries coupled with introduction of highly energy efficient solutions. Rising acceptance for treated water across the globe, especially in European countries is projected to augur well for the global water pumps market in the coming years. In 2012, percentage of population consuming water treated from wastewater treatment plant in Italy was 60.83% and this is projected to increase further in the coming years.