Burgeoning Focus on Water Conservation to Boost Demand for Dewatering Pumps Globally
The global dewatering pumps market is identified as a fairly concentrated market with the organized sector having a share of around 49% of the global market followed by Tier 2 and small scale manufacturers. The principal aim of the manufacturers has been the expansion of market footprint via extension of their product portfolio and strengthening of the sales and distribution network. Leading players in the market are focused to shift their production bases to Asia Pacific in order to capitalize on the economies of scale. The global market, characteristically, is poignant towards consolidation. Several mergers were seen during the recent past; the same trend is anticipated to continue over the coming years with profitability to remain as the core strategy behind these acquisitions.
Dewatering Pumps Market
Players in the industrial automation and equipment industry continue to face an environmen...
Long-term tie-ups with EPC (Engineering Procurement and Construction) companies are expected to provide high and stable sales to international manufacturers of dewatering pump. Most sales of small and medium capacity pumps take place through distributors and retailers, which generally hold multi-branded & wide variety products at their shelves. Providing integrated offerings through diverse range of products and developing strong distribution and aftersales service network at regional and local level can provide significant opportunities for growth. In order to gain competitive advantage, strong focus on life-cycle costs analysis, including reducing operating costs through energy-efficient solutions, is highly required for product differentiation.
According to the report by Future Market Insights (FMI), the global dewatering pumps market is expected to witness a CAGR of 5.2% from 2018 to 2028. In 2017, the market was worth US$ 5,498.6 Mn and is expected to rise to a valuation of US$ 9,510.2 Mn by the end of 2028.
Burgeoning Exploration Activities for New Sources of Water to Trigger High Demand
Governments of emerging economies in Asia Pacific and MEA, particularly in countries such as South Africa, Morocco and the UAE, are focusing on improving drinking water facilities in urban as well as rural areas. Also, exploration of new water sources is expected to increase sales of pumps with enhanced capacity and efficiency for agricultural and domestic applications. Desalinization projects are also expected to contribute to adoption of pumps, as most parts of the globe still lack the basic facility of running water.
An estimated 60% of the world is still without running water. ASEAN region is witnessing increase in water supply and sanitation projects by governments, which is likely to boost sales of centrifugal pumps for domestic and agricultural applications. It has been estimated that only 50% of the global population has access to drinking water from a piped connection providing running water in their homes or compounds. As per the analyst, the demand for dewatering pumps across the globe, especially in ASEAN countries will increase owing to these reasons.
Low Priced China-based Pumps to Act as Hindrance to Market Growth
The presence of numerous Chinese players who are offering low-priced pumps acts as a restraint to most regional and global players offering pumps. The surging price pressure from these players is influencing the main suppliers to offer high-quality, reliable, efficient, and technologically-advanced pumps at competitive prices. However, the price sensitive nature of the market is a restraining factor on overall revenue growth potential of the global pump market. Emergence of China as a major producer of low cost pumps, is has disrupted the market to a certain extent. In order to overcome this challenge, international pump vendors need to differentiate their products through various additional services and integration of advanced technologies.
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About Industrial Automation Division at Future Market Insights
The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry
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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