The Asia Pacific Water Pump Market would witness market growth of 4.8% CAGR during the forecast period (2022-2028).
High-efficiency water pumps often have an extra benefit for their end customers since they can automatically detect any changes in pipeline pressure and cease when not in use, so using less power. Moreover, the system can operate at high speeds with less maintenance due to high-efficiency water pumps.
The need for energy-efficient pumps is expected to increase as a result. Another essential aspect projected to influence the growth of the water pump market is the substitution of electric water pumps with diesel ones. This is because electrical water pumps emit fewer carbon emissions than diesel pumps. Additionally, the agricultural sector's increasing reliance on groundwater due to irregular rainfall is projected to increase the demand for water pumps.
To prepare fields for duck hunting, one of the most common recreational applications for a water pump is to flood them. Unfortunately, one of the most effective methods to attract ducks is to attack a field. As a result, sportsmen often get frustrated when ducks fly over broad, dry areas during the duck shooting season. Fortunately, with the aid of water pumps, this lost chance may be turned into a fruitful quest.
This trend is expected to boost the growth of the downstream oil and gas industry throughout the following decades. The government has taken several steps to increase oil and gas exploration and production, emphasize demand substitution, promote energy efficiency and conservation, and take advantage of the unrealized potential for biofuels and alternative fuels/renewables to reduce the amount of crude oil imported. As a result, the water pump market is expected to rise along with the growing oil and gas sector. Establishing sophisticated water transport and treatment systems by several East Asian countries in the area has also enabled them to achieve economic water security, much like many affluent nations. This is also anticipated to continue in the following years, which would boost the expansion of the regional market even more.
The China market dominated the Asia Pacific Water Pump Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8,046 Million by 2028. The Japan market is estimated to grow a CAGR of 4.2% during (2022 - 2028). Additionally, The India market would experience a CAGR of 5.5% during (2022 - 2028).
Based on Type, the market is segmented into Centrifugal and Positive Displacement. Based on Driving Force, the market is segmented into Electric Driven and Engine Driven. Based on Application, the market is segmented into Oil & Gas, Water & Wastewater, Chemicals, Power Generation and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Water Pump Market is Projected to reach USD 71.7 Billion by 2028, at a CAGR of 4.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Atlas Copco AB, Baker Hughes Company, Flowserve Corporation, Grundfos Holding A/S, Sulzer Ltd., Ebara Corporation, Xylem, Inc., KSB SE & Co. KGaA, Kirloskar Brothers Limited (Kirloskar Group), and Husqvarna Group.
By Type
By Driving Force
By Application
By Country
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