According to a new report published by Allied Market Research, titled, Heavy-duty Pumps Market: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global heavy-duty pumps market was valued at $ 12,823 million in 2017, and is expected to reach at $ 19,522 million by 2025, growing at a CAGR of 5.4% during the forecast period. The centrifugal pump segment accounted for more than four-fifth of the market share in 2017 and is expected to witness significant growth during the forecast period.
Heavy-duty pumps are industrial pumps that are designed specially to transfer highly corrosive and abrasive fluids efficiently from one place to another. These pumps are suitable for oil & gas transfer, chemicals transfer, sewage transfer, and other heavy-duty applications. There is an increase in demand for the machine, owing to the rise in demand for portable water, globally. In addition, high efficiency and reliability offered by these pumps to transfer different products are expected to propel the market growth. However, increase in environmental protection activities due to rapid increase in pollution restrain the growth of heavy-duty pumps market.
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According to the 2017 United Nations World Water Development report, more than 95% wastewater produced in few least-developed economies and more than 80% of the wastewater produced globally is discharged in the environment without any treatment, which pollutes the freshwater. Hence wastewater treatment offers a great opportunity for the manufacturers to manufacture pumps that are suitable to treat water and wastewater. In addition, key players have been focusing largely to adopt newer ways to boost the growth of the market. For instance, SPS pumps by General Electric perform various heavy-duty applications, such as liquefied/natural gas (NGL) boosting, crude oil boosting and transfer, condensate transfer, and others, thereby propelling the heavy-duty pumps market growth.
The processing industry segment based on end-user industry has the largest market share in the global heavy-duty pumps market during the forecast period. Its market share is expected to grow due to the rise in demand for chemical processing & wastewater processing across the globe. Furthermore, the others market in the product type segment is expected to grow at a significant CAGR during the forecast period, owing to the capability of heavy-duty pumps to efficiently resist corrosion.
Key Findings of the Heavy-duty Pumps Market:
- Based on end-user industry, the processing industry segment dominated the heavy-duty pumps market in terms of revenue in 2017, and is projected to grow at a CAGR of 5.7% during the forecast period.
- Asia-Pacific generated the highest revenue in 2017 and is anticipated to grow at the highest CAGR of 6.2%.
- The centrifugal pump segment based on the pump type generated the highest revenue in 2017, and is estimated to grow at the rate of 5.6%.
- In North America, the U.S. accounted for more than half of the market share in 2017.
KEY PLAYERS - Alfa Laval, EBARA Corporation, Flowserve Corporation, Gardner Denver, Inc., General Electric Company, Grundfos, ITT INC., KSB SE & Co., Sulzer Ltd., and The Weir Group PLC.
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