Ken Research provides valuable information about the global hand Pump market in the report – “Global hand pump market status, (2011-2022) market historical and forecasts, professional market research report”. The report begins by explaining the definition, specification, classification, application, government policies and news about the hand pump industry. Then followenriched analysis of the industry chain, up- and downstream industry information, and major market players.
Considering the report forecasts for the period 2017–2022 about global/regional markets and the new project investment feasibility analysis, it is a valuable source of guidance for manufacturers, suppliers, distributors, customers, investors and individuals who have interest in this market.
The report is a storehouse of important market data like the existing capacity and capacity utilization rate, production, price, revenue, cost, gross margin, supply, import, export, consumption, market share, and growth rate, etc. It carries analysis of the pump markets in major regions like Europe, North America, South America, Asia (excluding China), China and ROW.
Water pumpis one of the most used mechanical devices,having various applications in industries and households. Among major drivers of the pump industry are growing urbanization and industrialization in developing countries and increasing use of water pumps in industries –chemicals, power and oil and gas.These are expected to boost the revenue generation by the pump industry.
The diverse market of water pumps has four main segments –industrial water pump, municipal water pump, agricultural water pump, and domestic water pump.Hand pumps are widely used in every country for a variety of industrial, marine, irrigation and leisure activities, more so in developing countries. They are most economical means of water supply in rural and outlying urban areas.
The growth in the water pump industry is expected to stem from the need for better management of water resources, including water recycling, storage, rainwater harvesting and improved irrigation processes. Also, growth in various industries such as pharmaceuticals as well as water and wastewater treatment will push the revenue generation by the pump industry. This increase will be seen in South Asian markets.
Bright Prospects in India and China
Asia-Pacific remains the largest water pumps market followed by Europe and North America. Because of surge in infrastructural developments in developing countries like India and China, Asia-Pacific has the highest growth rate among regional water pump markets. On the basis of the pump type, centrifugal water pumps hold majority market share.This pump variety is expected to grow with a steady rate in future as well due to growth in oil and gas industries.
The trend of water recycling and water waste treatment plants will also fuel the growth of water pumps in Asia, especially India and China. Innovation in new technologies like the intelligent pump systemhas given cost benefits to the users. Diverse use of pumps in several household applications including in-house water fountain, gardening, and water coolers make it an attractive endeavour to invest in.
In Asia, India is one of the most attractive and lucrative pump markets to reap benefits of investment into the pump industry. The Indian pump industry is growing at almost double the CAGR compared to the global market. The surge in infrastructure and industrial development, along with growth in agriculture, ensures a good fortune for the pump industry in India.
India offers among the highest net value additions in the pump market, a high export market, and a healthy domestic market. Owing to the country’s technological capabilities and pro-government policies, a noticeable growth in its pump industry can be seen in future.
Major Players of Hand Pump Industry
Gorman-Rupp, Zep, AxFlow, National Spencer, ATD Tools, Action Pump, Tuthill, Pump International, Fisnar, Macnaught, Koshin, GROVHAC, AMBICA MACHINE TOOLS, Great Plains Industries, GoatThroat pumps, Vestil Manufacturing, Pro Chem, Toyo Machinery&Metal , Groz Engineering Tools , AQUASYSTEM
For more coverage click on the link below:
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Ankur Gupta, HeadMarketing& Communications