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According to a new report published by Allied Market Research, titled, "Dewatering Pumps Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global dewatering pumps market size was valued at $6,374.1 million in 2018, and is projected to reach $10,133.4 million by 2026, growing at a CAGR of 5.9% from 2019 to 2026. In 2018, Asia-Pacific dominated the global market in terms of revenue, accounting for around 43.1% share, followed by Europe.The dewatering pumps market has witnessed an unprecedented growth in the recent years, due to high efficiency of the pumps, especially in the construction industry. Increase in metal & mineral mining activities is the key factor that boosts the adoption of dewatering pumps. The market in LAMEA is in its nascent stage, and is expected to witness significant growth in the future, owing to increase in adoption of dewatering pumps in the mining sector. However, Asia-Pacific is anticipated to provide lucrative opportunities for the market players, owing to strong economic growth and improvement in access to advanced technologies in this region. Conversely, unstable prices of raw material and high operating costs associated with installation restrict the market growth.
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Dewatering Pumps Market Segments:
By Type:
Submersible Dewatering Pumps
Non-submersible Dewatering Pumps
By Application:
Construction & Agriculture
Oil & Gas
Municipal
Mineral & Mining
Others
In 2018, the construction & agriculture segment dominated the market, due to increase in nonresidential construction activities in the developing nations such as India, China, and Brazil. High demand has been witnessed for dewatering pumps in the rapidly emerging economies, such as Brazil, owing to the presence of several local and regional manufacturers. Thus, all these factors together are anticipated to significantly contribute toward the growth of the market.
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Key Findings of the Dewatering Pumps Market :
Based on type, the non-submersible dewatering pumps segment dominated the dewatering pumps market, in terms of revenue in 2018, and is projected to grow at a CAGR 5.7% during the forecast period.
By application, the municipal segment is projected to grow at a CAGR of 7.1% during the forecast period.
Asia-Pacific is projected to register the highest growth rate in the coming years.
Key market players within dewatering pumps market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the dewatering pumps industry.
The report provides an extensive analysis of the current and emerging dewatering pumps market trends and dynamics.
Key Players:
Atlas Copco
Ebara Corporation
Flowserve Corporation
Grundfos
Gorman-Rupp
ITT INC.
KSB SE & Co.
Sulzer Ltd.
The Weir Group PLC
Xylem
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Release ID: 89035946