Name: sea water pumps market
Brand: Future Market Insights
SKU: REP-GB-4930
Price: 5000 USD
Availability: InStock
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Centrifugal Pumps Account for Over 60% Revenue Share

Manufacturers targeting centrifugal pumps will be well-positioned to substantially increase revenue, margins, and profit. Owing to their compact size, and straightforward usage, centrifugal sea water pumps are garnering good reputation among end users.

Moreover, they will represent a multibillion-dollar opportunity during the latter half of the projection period. Maintenance of positive displacement pumps is cost-prohibitive, and the output of these pumps is inconsistent. Their market share is thus likely to stagnate over the coming years.

Booming Shipbuilding Industry to Drive APAC Market

Capturing around half of total market revenue, Asia Pacific (APAC) would remain the vanguard of the global sea water pumps market. Substantial growth in upcoming shipbuilding orders in countries - Japan, and China, and South Korea - for transnational oceanic trade is pushing the adoption of sea water pumps in the region. Market players are also tapping white spaces in the Middle East & Africa (MEA), owing to strong government support for establishing desalination plants and expanding the capacity of existing facilities.

Mergers & Acquisitions - Vehicle of Growth

Escalating demand for reduced operational expenses (OPEX) as well as growth in emerging markets is spurring the activity of mergers & acquisitions (M&A) in the sea water pumps market. Moreover, M&A activities are a key contributor to exponential growth among leading manufacturers that are focusing on expanding their product portfolios across untapped geographies and industrial applications. For instance, Xylem Inc. acquired EmNet LLC to manage urban water cycle, storm water, and wastewater treatment equipment. Moreover, Ebara Corporation acquired Brazil-based pumps manufacturer - Thebe Bombas Hidráulicas Ltda.

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How Growth will Unfold

Water scarcity has been a long-standing concern, with around 14% of the global population expected to encounter water scarcity by 2025, as reported by the United Nations (UN). In a bid to overcome this alarming situation, governments across the world are increasingly investing in the establishment of desalination plants.

Application of sea water pumps is thus prominent in this end-user category, capturing over 90% of overall market value. Moreover, sea water pumps are finding utilization in ships for purposes such as ballast transfer function, firefighting, bilge pumping, and air conditioning.

FREQUENTLY ASKED QUESTIONS ABOUT SEA WATER PUMPS MARKET

What is the growth outlook for the sea water pumps market?

Sea water pumps have extensive application in desalination plants, ships, and offshore oil rigs. Increasing number of desalination plants at countries in the Middle East & Africa is creating positive growth prospects for the sea water pumps market. Furthermore, continuously increasing seaborne trade is driving the growth of the shipbuilding industry, which, in turn, is creating surge in the demand for sea water pumps.

Which segment will gain healthy traction over the coming decade?

By product, the centrifugal pumps segment is expected to account for the largest share and register a substantial growth rate, attributable to the increasing adoption of centrifugal pumps in desalination plants. In terms of flow rate, demand for sea water pumps with a capacity of 1 to 50 M3/H is growing extensively, owing to their implementation in the shipbuilding industry.

Which trend will shape the global sea water pumps market?

Manufacturers are focusing on technological innovations for upgradation and modification in products, and are also poised to provide customized products for customers from the shipbuilding industry. This trend is expected to provide momentum to the growth of the sea water pumps market over the forecast period.

What is the degree of competitiveness among players in the global market?

The global sea water pumps market is fragmented due to the presence of numerous global players. Players such as KSB SE & Co. KGaA, Torishima Pump Mfg. Co. Ltd., Xylem Inc., and Grundfos are identified as tier-1 players. These players focus on diversifying and strengthening their production and distribution base around the world by opening new plants or distributorships.

Which region offers considerable growth opportunities for players in the sea water pumps market?

The Middle East & Africa is anticipated to offer significant potential for the growth of players in the global sea water pumps market, owing to increasing investments towards the establishment of desalination plants and expansion in the capacity of existing plants in the region. However, the Asia Pacific region is projected to maintain its dominant share in the global sea water pumps market during the forecast period, owing to the prevalence of major shipbuilding industry players in the region.