The global dewatering pumps market holds high potential in the construction and agriculture industry, due to the expansion of construction sector globally. The current business scenario experiences rapid development in the oil & gas sector, leading to increased adoption of dewatering pumps, particularly in the developed regions such as North America and Europe.
Improved efficiency and high durability of dewatering pumps are some of the major drivers for this market. However, high cost and unstable prices of raw material impede the growth of this market. In the near future, rise in demand for dewatering pumps is expected to be witnessed, due to expansion of construction industry globally. This factor is expected to create lucrative opportunities for the key players operating in the dewatering pumps market. Moreover, rise in demand for dewatering pumps in municipalities is expected to fuel the growth of the dewatering pumps market in the near future.
𝘿𝙤𝙬𝙣𝙡𝙤𝙖𝙙 𝙍𝙚𝙨𝙚𝙖𝙧𝙘𝙝 𝙎𝙖𝙢𝙥𝙡𝙚 𝙬𝙞𝙩𝙝 𝙄𝙣𝙙𝙪𝙨𝙩𝙧𝙮 𝙄𝙣𝙨𝙞𝙜𝙝𝙩𝙨 𝙉𝙤𝙬 𝙒𝙞𝙩𝙝 𝘼𝙡𝙡 𝙂𝙧𝙖𝙥𝙝𝙨 & 𝘾𝙝𝙖𝙧𝙩𝙨 – https://www.alliedmarketresearch.com/request-sample/5399
Based on study of the regions, Asia-Pacific is expected to account for the highest revenue in the global dewatering pumps market throughout the forecast period, followed by Europe, North America, and LAMEA.
The key companies have focused on product launch and joint venture to strengthen their foothold in the market. For instance, Grundfos Pumps Korea, ChungSuk, and Keum Jung Industrial, the subsidiaries of Grundfos, merged to form a joint venture company called Grundfos Pumps Korea. The joint venture was aimed at provide integrated design and development of dewatering pumps as well as to expand the business in the Republic of Korea.
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.
𝘿𝙤𝙬𝙣𝙡𝙤𝙖𝙙 𝙍𝙚𝙨𝙚𝙖𝙧𝙘𝙝 𝙎𝙖𝙢𝙥𝙡𝙚 𝙬𝙞𝙩𝙝 𝙄𝙣𝙙𝙪𝙨𝙩𝙧𝙮 𝙄𝙣𝙨𝙞𝙜𝙝𝙩𝙨 𝙉𝙤𝙬 𝙒𝙞𝙩𝙝 𝘼𝙡𝙡 𝙂𝙧𝙖𝙥𝙝𝙨 & 𝘾𝙝𝙖𝙧𝙩𝙨 – https://www.alliedmarketresearch.com/request-sample/5399
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.
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.
On the basis of type, the non-submersible dewatering pumps segment garnered to the largest share in 2018, owing to the benefits offered such as its long-range operation capabilities and its prolonged durability.
The submersible dewatering pumps segment is expected to grow at a CAGR of 6.4% during the forecast period. This is attributed to rise in use of submersible dewatering pumps by several municipalities is across the globe.
Europe registered the second highest growth rate after Asia-Pacific in the dewatering pumps market in 2018. However, LAMEA is expected dominate the market during the forecast period, owing to expansion of the construction sector in the region.
Many players adopted product launch as its key developmental strategy to improve its product portfolio. For instance, in April 2019, Xylem launched CD150S Dri-Prime dewatering pump series. The new product is addition in its Godwin brand of dewatering pumps. It offers superior flexibility due to its interchangeable impeller. Similarly, in February 2018, Weir Minerals expanded its dewatering portfolio with the launch of Multiflo RF pump.
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