-- QY Research has recently published its new report, titled “Mexico Centrifugal Pump Market Insights Forecast to 2025,” which offers a detailed analysis of the market. This 88-page report provides crucial information about the elements that are driving and impacting the sales of the centrifugal pump market. The report also includes the competitive landscape that consists of top manufacturers, which are operating in the Mexico centrifugal pump market. The report also includes the changing trends in the market and various macro-economic factors such as evolving GDPs, which are estimated to affect the growth of the market.
As per the report, the Mexico centrifugal pump market is expected to grow to US$1007.25 mn by 2025 from US$860.93 mn in 2018. The market will register a CAGR of 2.18% throughout the predicted period of 2019-2025.
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Mexico Centrifugal Pump Market: Drivers and Restraints
The growing demand for a centrifugal pump is gaining traction with a rise in infrastructural development activities across the globe. Increasing urbanization and the rising demand for water from the agricultural sector is anticipated to boost the demand for centrifugal pumps. Factors such as the use of centrifugal pumps in water and wastewater treatment plant to overcome the storage of water will help to increase the demand for centrifugal pumps in the near future.
In addition, governments are focusing on the development of stringent policies to build a sustainable water system that includes the growth of centralized systems for water treatment and distribution. All of these factors are expected to up the deployment of centrifugal pumps, which is is expected to drive throughout the predicted period.
However, fluctuation in the prices of oil and gas will hamper the market growth in the near future.
Mexico Centrifugal Pump Market: Segment Analysis
The Mexico centrifugal pump market is segmented into applications and product type. The application segment includes mining industry, domestic water and wastewater, food and beverage, petroleum industry, chemical industry, and others. Wastewater and water segment is likely to dominate the centrifugal pump market in the near future. The product type segment includes jet pumps, axial flow pumps, peripheral pumps, and mixed/radial flow pumps.
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Mexico Centrifugal Pump Market: Top Players
The key players that are operating in the Mexico centrifugal pump market are Tapflo, ITT, Wilo, Flowserve, Idex, Grundfos, Ebara, Schlumberger, Weir Group, Sulzer, Pentair, and RuhRPumpen.
Mexico Centrifugal Pump Market: Competitive Landscape
Tapflo announced its establishment in Benelux in January 2019. This establishment has been done to provide better services to customers in this region and would be able to fulfill the needs of the customers more efficiently. The company will be serving in the Netherlands, Belgium, and Luxembourg from its head office in Assen (the Netherlands). Companies are focusing on the business expansion strategy to develop their services and earn profits.
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