Axial and Mixed Flow Pumps Market Size

Axial & Mixed Flow Pumps Market Analysis

The Axial and Mixed Flow Pumps Market is expected to register a CAGR of 5.23% during the forecast period 2022-2027. Furthermore, falling customer income and international travel restrictions have reduced demand for axial flow pumps in the refining sector. According to a report published by the US Bureau of Labor Statistics, global oil demand fell by 3 million barrels per day in March 2020 due to lockdowns and transportation restrictions. Likewise, approximately 180 countries have temporarily halted the trade of unnecessary products and hampered the demand-supply chain of axial flow pumps amid the COVID-19 situation.

• Axial and mixed flow pumps are used in sewage treatment plants, irrigation, and flood control. These pumps are used in agriculture to pump water from reservoirs to fields and to remove unwanted or excess water from areas. Furthermore, it can be used in municipal water treatment to help drive water or fluids to different conveyor systems or reservoirs. These factors are expected to propel the axial, and mixed flow pumps market forward.
• Furthermore, advantages such as high low rate with minimal pressure requirement, enhanced discharge rate with the relatively low velocity of head, and they can be adjusted to run effectively and efficiently with minimal aerodynamic loss are contributing to the growth of global axial flow pumps. All of these factors combine to increase the demand for axial flow pumps, thereby boosting the global market growth.
• For instance, in March 2021, Xylem announced that it was making waves in the world of water. The Xylem Water Solutions India Pvt Ltd, a wholly-owned subsidiary of Xylem Inc, has expanded rapidly in India. The company offers innovative products and solutions across the entire water cycle - from extraction to purification and storage to distribution and wastewater management - allowing customers to transport, treat, test, and efficiently use water in public utility, residential and commercial building services, as well as industrial and agricultural settings.
• Moreover, the use of axial flow pumps in agricultural sectors such as irrigation, fisheries, and drainage is a key market trend in the global market. Furthermore, rising population has increased demand for crop production, where axial flow pumps are widely used for irrigation.
• The axial and mixed flow pump market has been negatively influenced due to the COVID-19 pandemic, owing to its dependence on chemical, petrochemical, fisheries, and other sectors. According to a report published by the National Bureau of Statistics of China, the chemical industry witnessed a 20% decline in production in March 2020, which is expected further increase by the end of 2021.