Surging development of water and wastewater infrastructure, expanding oil and gas infrastructure, and growing demand for potable water are the major factors proliferating the global pumps market.
September, 2018: The global pump market is expected to grow, owing to factors such as surging development of water and wastewater infrastructure, expanding oil and gas infrastructure, and growing demand for potable water. In addition, the technological advancements pertaining to manufacturing of pumps are expected to reinforce growth prospects over the forecast period.
Globally, the governments have formulated policies to promulgate the industrial sector, in order to provide impetus to economic growth. Moreover, technological advancements in across various industries, like oil and gas, manufacturing, etc. is leading to increased operational activities among such industries, which augments the demand for pumps. The resurgence in crude oil prices and anticipated stability of the same is likely promulgate the upstream activities. Moreover, the policy level initiatives in various countries, to develop midstream and downstream sector, is expected provide huge impetus to pumps market in coming years.
The demand for pumps from water and wastewater industry is growing rapidly, on account of massive development of water infrastructure. The development of water and wastewater infrastructure has become an imperative due to surging demand for water. The awareness level of water reuse has increased in recent years, majorly attributed to decreasing level of ground water across the world. The amount of water required in industrial sector is very high, and due to depleting reserves of ground water, the reuse of water has become an imperative.
The requirement of potable water across the world is growing, riding on rising population and depletion in ground water resources have created increased requirement for water treatment facilities. The desalination of sea water is a major source of potable water in the Middle Eastern region, and in coming years, the new water desalination facilities are expected to be developed to meet the growing need for potable water. Such developments pertaining to water infrastructure are expected to foment the demand for pumps in near future.
The report “Pumps Market Segmentation by Product Type, by End User, and by Geography” is now available, and can be purchased directly at: https://www.mordorintelligence.com/industry-reports/pumps-market
Pumps market segmentation, based on product type, end users, and regional coverage,
Pumps Market, by Product Type:
Pumps Market, by End User:
Pumps Market by Region
Middle East & Africa
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