Axial Flow Impeller Pumps - What Is Driving New Market Adoption And Growth In The Market?

The market overview of Axial Flow Impeller Pumps

The worldwide axial flow pump market was worth USD 32.23 billion in 2019 and is predicted to increase at a CAGR of 3.6 percent between 2022 and 2027. Product demand is predicted to be driven by rising investments by corporations in the Middle East and Africa for the growth of their oil and gas businesses as well as their geographic reach. Axial flow pumps are projected to be in high demand as the worldwide water and sewage treatment sector has grown in recent years.Due to population increase, fast urbanization and industrialization, and technological improvements, the need for freshwater is increasing. Because of increased exploration activity both in the offshore and onshore unconventional oil and gas sectors, the market for axial flow pumps is likely to rise significantly in the United States. In addition, the total market is expected to be driven by the rehabilitation and technological advances of the country's current industrial water and wastewater management infrastructure.

Factors affecting the growth of Axial Flow Impeller Pumps market

Due to causes such as increased industrialization, technical advancements, and fast urbanisation, the need for energy fuel has risen dramatically in recent years. This is projected to increase the product's adoption across a variety of end-use industries, including oil and gas, power, and water and wastewater treatment. In countries such as the United States, China, the United Arab Emirates, India, and Australia, axial flow pumps are increasingly being used in the construction of water treatment and wastewater management facilities, which is projected to boost the market throughout the projection period. Axial flow pumps are also expected to become more popular in the chemical industry, as they provide a high discharge rate with regulated vertical heads, reducing spillage. Wastewater management businesses like Veolia and Xylem Inc. are collaborating with axial flow pump manufacturers on R&D to develop new and more efficient equipment, resulting in market expansion. Axial flow pump manufacturers are also implementing value chain integration strategies to track the type of raw material used in the production of the pumps as well as the efficiency of the components installed.

Regional Analysis of Axial Flow Impeller Pumps market

• In 2019, Asia Pacific dominated the market, accounting for 41.6 percent of worldwide revenue. The great rise of the end-use sectors, such as domestic water and wastewater and petroleum, is related to the increased need for axial flow pumps in the region. Furthermore, increasing industrial investments to meet the demands of a quickly growing population are likely to drive market expansion throughout the projection period.
• The use of axial flow pumps in Europe is ascribed to favorable government initiatives in nations such as Italy, Germany, France, and the United Kingdom to set up water and wastewater management systems. However, due to the recent outbreak of COVID-19, which forced the temporary closure of several production plants, demand is projected to fall in the near term.
• Over the forecast period, North America is expected to grow at a CAGR of 2.2 percent. The existence of superior processing capacity in the United States, as well as ongoing R&D initiatives for pump manufacture, is projected to propel the market in the region. Furthermore, increased water constraint has prompted innovations that are anticipated to boost regional product demand.

Insights into key Companies and Market Share of Axial Flow Impeller Pumps market

• Due to the presence of numerous international and regional competitors, the worldwide industry is extremely competitive. Market participants use a variety of methods to increase their product offerings and strengthen their competitive positions in the market, including the development of new technologies and customization choices.
• Market participants are also forming strategic partnerships with other industry players to integrate their value chain and long-term deals with end-use industries, such as water management, oil & gas, and food and beverage, in order to design pumps for their specific applications and expand their product portfolio.
• One of the most essential techniques used by market players is to expand their distribution networks.

The following are some of the major companies in the worldwide axial flow pump market:

• Xylem

• Grundfos

• KSB SE & Co. KGaA

• Sulzer Ltd. Pentair

• Weir Group PLC

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