End Suction Pump Market to Exceed US$ 6.08 by 2031 with Industrial Sector Contributing 3/4th of Overall Sales: FMI
The comprehensive analysis conducted by Future Market Insight (FMI) uncovers critical trends and opportunities augmenting the growth in the end suction pump market. It also provides detailed study of the demand outlook across various segment in terms of type, flow rate, and application over the assessment period. It also highlights key expansion strategies adopted by leading players in the market.
DUBAI, UAE, Dec. 6, 2021 /PRNewswire/ -- As per a detailed study by FMI, the global end suction pump market is set to top US$ 6.08 Bn in 2021. Increasing use of the end suction pumps in the power industry for various processes, including boiler feed, circulation, and sludge handling is propelling the demand in the market.
End suction pumps are finding a wide range of applications such as water dosing, fire suppression, and heating, ventilation, and air conditioning (HVAC) gas suction across hotels, gas stations, and others. On account of this, the market is expected to grow at a CAGR of 4.6% CAGR during the forecast period 2021-2031.
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Hence, increasing construction activities owing to the rapid urbanization across emerging economies such as China, India, and Japan among others is expected to create lucrative growth opportunities in the market.
Governments of several countries are emphasizing on expanding their manufacturing capacity. For instance, the Indian Government has initiated a 'Make in India' program to expand the manufacturing sector in the country.
Such initiatives to increase production of petrochemicals, processed food & beverage, chemicals, and others will boost the market. In response to this, end suction pump market is estimated to register 3.5% year-on-year growth in 2021.
Based on application, the industrial segment is projected to hold the lion's share in the market, accounting for more than 75% of the sales in 2021. Growing demand for end suction pumps for application in oil & gas, power generation, water treatment, and mining sector is facilitating the growth in the segment.
"Rising offshore and onshore oil gas exploration activities and rising emphasis on the development of wastewater infrastructure across the U.S., China, and India is expected to drive the growth in the market," says a FMI analyst.
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- The U.S. is anticipated to emerge as the most remunerative market in North America, creating an incremental opportunity of US$ 992.4 Mn through 2031.
- China is projected to register the fastest growth in East Asia, expanding at a CAGR of 5.1% over the forecast period.
- Germany is forecast to dominate the market in Europe, accounting for more than 20% of the demand share over the next ten years.
- On the basis of product type, close-coupled pumps are estimated to remain highly sought-after pumps in the market, accounting for nearly 80% of the sales in 2021.
- In terms of flow rate, the up to 100 GPM pumps segment is expected to hold the highest share, with sales totaling US$ 1.6 Bn by 2031.
Key Drivers
- Increasing adoption of end suction pumps for concrete, oil, gas, water, and slurry transfer purposes in the construction, water treatment, and oil & gas industries is increasing the sales across the industrial segment.
- Growing emphasis on enhancing irrigation facilities for increasing yield across the agricultural sector in developing economies such as India and China is expected to propel the demand.
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Key Restraints
- High cost of end-suction pumps compared to conventional ones is a primary factor hindering the sales in the market.
Increasing customer inclination towards the use of renewable eco-friendly fuels is slumping the oil & gas sector, which in turn might hamper the growth in the market.
Competitive Landscape
Leading companies operating in the global market are Grundfos, Sulzer Ltd, Xylem Inc., KSB AG, Flowserve Corporation, Ebara Corporation, Kubota Corporation and others. As per Future Market Insights, the top 10 players are estimated to account for more than 15% of the market share in 2021.
Key players are focusing on launching new products to expand their product portfolio. Some of the companies are aiming for strategic collaborations and partnerships with other manufacturers, local dealers, and service providers to strengthen their global footprint. For instance,
- In August 2021, Roto Pumps, a leading manufacturers & suppliers' industrial pumps announced entering into a membership with British Pump Manufacturer Association (BPMA). The strategy will assist the company to strengthen its footprint and expand its market share in European pump industry.
- In 2018, Sulzer, a Swiss industrial engineering and manufacturing firm, announced expanding its portfolio by introducing a new centrifugal pumps with the end-suction single-stage design to meet the process requirements in a variety of industrial applications.
Some of the key players operating in the market profiled by FMI are:
- Grundfos
- Sulzer Ltd.
- Xylem Inc.
- KSB AG
- Flowserve Corporation
- Ebara Corporation
- Kubota Corporation
- Ruhrpumpen Group
- Kirloskar Brothers Ltd.
- WILO SE
- DESMI A/S
- Pentair
- Torishima Pump Manufacturing Co., Ltd
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More Valuable Insights on End Suction Pump Market
A detailed study by FMI provides an unbiased analysis of vital factors favoring the growth in the global end suction pump market through 2021 and beyond. The survey offers refined sales projections in end suction pump market with detailed segmentation:
By Type:
- Close Coupled Pump
- Separately Coupled Pump
By Flow Rate:
- Upto 100 GPM
- 100 to 300 GPM
- 300 to 500 GPM
- 500 to 1,300 GPM
- 1,500 to 5,000 GPM
- Above 5,000 GPM
By Application:
- Commercial
- Hotels
- Swimming Pool
- Retail Space
- Office & Institution
- Industrial
- Food & Beverages
- Chemicals
- Mining & Metals
- Power Generation
- General Manufacturing
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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Key Questions Covered in the Report
- The report offers insight into end suction pump market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for end suction pump market between 2021 and 2031
- End suction pump market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- End suction pump market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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