According to a new market research report published by Global Insight Services “ Pumps Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A pump is a device that moves fluids (liquids or gases), or sometimes slurries, by mechanical action. Pumps can be classified into three major groups according to the method they use to move the fluid: direct lift, displacement, and gravity pumps. Pumps operate by some mechanism (typically reciprocating or rotary), and consume energy to perform mechanical work moving the fluid.
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Top Key Players in Pumps market: Schlumberger Ltd., Ingersoll Rand, Weir Group PLC, Vaughan Company, Inc., KSB SE & Co. KGaA, Pentair, Grundfos Holding A/S, Xylem
Key Trends
Firstly, pumps are becoming increasingly more efficient as technology improves. This is particularly important in industries where energy costs are high, such as the oil and gas industry.Secondly, pumps are becoming smaller and more compact as technology advances. This is particularly important in applications where space is limited, such as in medical devices.
Key Drivers
The key drivers of the pumps market are the increasing demand for energy-efficient and reliable pumps, the growing demand for pumps in the water and wastewater industry, and the increasing investment in the replacement and upgrading of pumps.The increasing demand for energy-efficient and reliable pumps is driven by the need to reduce energy consumption and operating costs. The growing demand for pumps in the water and wastewater industry is driven by the need to improve water quality and meet the increasing demand for water.
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Market Segments
The Pumps Market is segmented by product type, application and region. By product type, the market is divided into positive displacement and centrifugal. Based on application, it is segmented into agriculture, chemical and others. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Reasons to buy Pumps Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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