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Asia Pacific Pumps Market Size By Technology (Diaphragm Pumps, Centrifugal Pumps), By Product (Stationary, Portable), By Position (Submersible, Non-submersible), By Driving Force (Electrical Driven, Engine Driven), By Application (Oil & Gas, Mining, Building & Construction, Municipal, Industrial), Industry Analysis Report, Price Trends, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: January 2021 | Publisher: Graphical Research Report ID: GR1617 | Delivery : PDF

Industry Trends

Asia Pacific Pumps Market was valued at USD 37.2 billion in 2019 and is projected to grow at a CAGR of 3.5% from 2020 to 2026. Growth is attributable to the growing oil & gas industry, rapid industrialization, and increasing mining activities in the region.

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The demand for pumps is majorly driven by its wide application in the end-use industries, such as mining, oil & gas, and others. Pumps have extensive applications in both midstream and upstream operations of the oil & gas industry. Hydrocarbon exploration activities present a host of challenges that require several types of pumps to aid the process. For instance, centrifugal pumps with automatic mainline and booster pipeline stations, high-pressure water injection, submersible motor pumps are customized especially to be used effectively in oil & gas exploration operations. In 2017, Asia Pacific produced 7.9 million barrels of oil per day, out of which, China’s output was 3.8 million barrels per day, giving it a 49% of the region’s share. Indonesia at 12%, India at 11%, and Malaysia at 9% were the other major producers in the region. Therefore, the increasing production of oil & gas and extensive application of pumps for the exploration and production operations are expected to drive the Asia Pacific market size.

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Based on application, the industrial segment accounted for almost 40% of the market share, rendering it the largest application segment. It is also anticipated to grow at a significant growth rate during the forecast span. The demand for pumps is driven by the rapid industrial growth in the countries of Asia Pacific. The industries which use pumps on a wide scale include oil & gas, mining, and manufacturing, among others. The Asia Pacific is on a track of robust industrial progress in the past two decades, with almost 40% of the world’s output. Especially, the automotive, electronics, manufacturing, and mining industry have experienced acute growth in the last decade. The growth can be ascribed to the easy availability of raw materials, lower labor costs, and rising commodities demand.

Increasing mining activities in the region have also been stimulating the demand for pumps. The region holds a large  share of coal production and consumption throughout the globe. The intensive production of coal in the region is chiefly owing to the inexpensive source of energy, abundance, and a key source of electricity generation.. Pumps play a crucial role at mining sites which may include dewatering, washing, and cleaning operations. Hence the growing mining activities in the region are directly influencing the pump demand on a positive scale. The major application of portable pumps is in firefighting operations. Increasing fire accidents in manufacturing industries, residential, and commercial areas is the main reason benefitting the growth of portable pumps region-wide.

Based on technology centrifugal pumps held a major portion of the overall industry share and are projected to witness a growth rate of up to 3.5% during the forecast period. The growth of these pumps can be attributed to their design, which offers simple and affordable solutions to wide-ranging applications requiring low-pressure and high capacity pumping operations. Centrifugal pumps are sufficiently efficient in handling low viscosity fluids, including solvets, ligh oils, and water. The demand is also driven by its upstream application in the oil & gas industry in the multiphase or tri-phase pumping operations.

Some of the key players involved in the Asia Pacific pumps market include The Gorman-Rupp Company, Gardner Denver, Inc., Baker Hughes Company, Schlumberger, Grundfos, Ebara Corporation, Atlas Copco, Sulzer, Xylem Inc., Multiquip Inc., NOV Inc., and Pfeiffer Vacuum GmbH, among others.

Frequently Asked Question(FAQ) :

The market size of Asia Pacific Pumps was valued over USD 37.2 billion in 2019.
The industry share of Asia Pacific Pumps is projected to witness 3.5% growth rate during 2020 to 2026.
Based on application, the industrial segment accounted for almost 40% of the market share, rendering it the largest application segment. It is also anticipated to grow at a significant growth rate during the forecast span.

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Asia Pacific Pumps Market Share, Industry Research Report - 2026


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