Report Overview:
The value of the global axial flow pump market was approximately USD 27 billion in 2021 and is anticipated to increase to approximately USD 42 billion by 2028, with a CAGR of roughly 4.41% between 2022 and 2028.The need for axial flow pumps is probably being driven by the recent global expansion of the water and wastewater treatment industries. This is explained by an increase in freshwater demand brought on by population development, growing urban and industrialization, and technological advancements. Additionally, the market is anticipated to be driven by increased government spending on the expansion of the petroleum and power generation industries.
Due to reasons like accelerating industrialization, technological advancements, and fast urbanisation, the demand for energy fuel has increased significantly over the past few years. This is anticipated to increase the product’s uptake in a number of end-use industries, including water and wastewater treatment, power generation, and oil and gas.
In a number of nations, including the US, China, the UAE, India, and Australia, axial flow pumps are increasingly being used in the construction of water treatment and wastewater management facilities, which is anticipated to propel the market over the forecast period. Additionally, because axial flow pumps offer a high discharge rate with controlled vertical heads, preventing spillage, their use is projected to increase in the chemical industry.
The highly developed oil and gas and petroleum industries in the Middle East and Africa are predicted to be the main drivers of demand for high power axial pumps. The demand for these pumps is also rising as a result of major investments being made by businesses like Saudi Aramco and Qatar Projects Oil & Gas Services in their international growth.
Insights:
From 2020 to 2027, the miniwatt axial flow pump market is anticipated to grow at a CAGR of 3.1%. Over the projected period, demand for miniwatt axial flow pumps is likely to be driven by the expanding use of new industrialisation techniques along with technical advancement in the Asia Pacific, Central America, and South and Central America.
The use of high-power axial pumps has several benefits, including a high discharge rate at a reduced vertical distance. For instance, compared to regularly used centrifugal pumps, these devices are capable of pumping up more than three times as much water and other liquids at a vertical distance of under 4 metres. By reducing aerodynamic losses with high efficiency, this raises consumer demand for the product.
Regional Insights:
Over the course of the projection period, North America is anticipated to grow at a CAGR of 2.2%. The U.S.’s presence of sophisticated processing capabilities along with ongoing R&D for pump production is anticipated to fuel the market in the area. Additionally, the region’s increasing water shortage has led to developments that are anticipated to increase product demand.
The rapidly developing power generation industry in Brazil and Argentina is anticipated to be the main driver of the axial power pump market in Central and South Africa. Axial flow pumps are expected to replace commonly used centrifugal pumps in power plants and water management facilities, increasing workplace productivity. This is expected to improve product demand in the area.
Due to the significant need for axial flow pumps in countries like China and India, which have thriving agricultural economies, the Asia-Pacific region is predicted to dominate the worldwide axial flow pump market. The utilisation of sewage systems, irrigation, and fishing are predicted to increase, which will fuel regional growth. Over 28 million people depend on the Indian fisheries industry for their livelihood, making it the second-largest fish producer in the world. In order to meet the global demand from the fisheries industry, the government and the private sector are investing extensively, which could help the expansion of the global market. By 2025, India anticipates more than USD 9 billion in investments in this industry.
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Important Businesses & Market Share Insights:
- Grundfos
- Xylem
- Sulzer Ltd.
- KSB SE & Co. KGaA
- Pentair
- Weir Group
Report’s Segments:
By Application
- Irrigation
- Water Treatment
- Evaporators
- Others
By Product Type
- Vertical
- Horizontal
By End-Use
- Municipal
- Chemical
- Pulp & Paper
- Agriculture
- Food & Beverages
- Others
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