Asia Pacific Volute Pumps Market to Grow at a Substantial Rate During Forecast Period
Growing industrialization and rising number of irrigation schemes in the region to propel growth of Asia Pacific volute pumps market during forecast period
According to TechSci Research report, “Asia Pacific Volute Pumps Market By Type, By Application, By End-Use, By Country, Competition, Forecast & Opportunities, 2024”, the Asia-Pacific volute pumps market is anticipated to grow at a significant rate over the next 5 years on account of the rising spending on infrastructure programs, increasing demand for the rainwater harvesting systems and growing production of oil and gas. Moreover, the volute pumps are used to handle large quantity of water flow, therefore are most suitable for sea water application which is anticipated to drive the market growth over the coming years. In addition to this, certain countries like India and China have introduced regulations which enable the private sector to actively engage in the water and wastewater treatment, which is one of the major factors boosting the growth of volute pumps market in the region. However, drastically increasing prices of raw material might hamper the growth of the Asia-Pacific volute pumps market in the coming years.
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Asia-Pacific volute pumps market can be segmented based on type, application, end use, company and region. Based on end use, the market can be segmented into agriculture & lift irrigation, building services, power, water & wastewater, oil & gas, chemicals and others. Among them, the segments such as water & wastewater treatment and oil & gas are estimated to dominate the market during the forecast period which can be attributed to high demand for concrete pumps as well as metallic pumps in both these industrial segments.
Shanghai Kai Quan Pump (Group) Co. Ltd, Watson-Marlow Inc., GRUNDFOS Holding A/S, Gardner Denver, Kirloskar Brothers Limited, Flowserve Corporation, Honda Kiko Co Ltd, Andritz AG, WPIL Limited, Sulzer Ltd etc. are some of the leading players operating in Asia-Pacific volute pumps market.
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“Asia-Pacific has witnessed significant development in the volute pumps market in the past few years and has dominated the market across the globe until 2018 and is expected to further hold its dominance during the forecast period. Growing economies in the region are providing substantial growth opportunities to the volute pumps market on account of rapidly growing manufacturing and industrial production sectors as well as the oil & gas industry in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Asia Pacific Volute Pumps Market By Type, By Application, By End-Use, By Country, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Asia-Pacific volute pumps market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia-Pacific volute pumps market.
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