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APAC Pumps Market size to cross $43 Bn by 2027
Published Date: 2021-08-05
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APAC Pumps Market size is predicted to surpass USD 43 billion by 2027, according to a latest forecast report by Graphical Research.
Rapid industrial growth in the countries of Asia Pacific will propel the market as they are extensively used in various industries including oil & gas, energy, mining, manufacturing, etc. Asia Pacific has witnessed a robust development in industrial sector in the last few years with the region accounted for around 40% of the total output of the globe in 2019. Automotive, manufacturing, electronics, and mining activities have witnessed a significant growth in the last decade. Lower labor prices, rising commodities demand, and easy availability of raw materials have transformed the region into a major manufacturing hub for the entire world.
COVID-19 outbreak has largely impacted the Asia Pacific region on account of the rapid surge in number of patients, especially in China and India. China is one of the major producers and consumer of pumps. COVID-19 has impacted China and India and led restriction on the various production activities in 2020 due to strict lockdown measures, which has caused the supply shortages in the region. Furthermore, large number of manufacturing operating in the region are facing financial issues in the manufacturing of various components due to lesser profit from the sales.
Browse detailed statistical insights from the report, “Asia Pacific Pumps Market Forecast 2027 By Driving Force (Engine Driven, Electrical Driven), By Product (Portable, Stationary), By Position (Submersible, Non-submersible), By Technology (Centrifugal Pumps, Diaphragm Pumps), By Application (Mining, Building & Construction, Oil & Gas, Industrial, Municipal), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Based on product, the stationery pumps segment generated over USD 27 billion in revenue share in 2020. Stationary pumps are generally used in mining, building & construction oil and gas sectors where the demand is long term and strict quality specific equipment is required as stationary pumps generally have a long lifetime. On the other hand, portable pumps have applications in areas like agricultural sector, municipal water supply application and other areas where the demand is not such high quality specific, and the short lifetime of the equipment does not affect the process.
Based on position, the non-submersible pumps segment held the largest market share; however, the submersible pumps segment is anticipated to exhibit the highest growth rate throughout assessment period. Non-submersibles will dominate the market during the forecast period, due to its huge acceptance in pressure boosting, water transfer, turf irrigation, washdown application, etc. These pumps can also provide quick and reliable help during floods, allowing house dwellers to cope with harsh weather conditions.
The oil & gas application segment is anticipated to grow at significant rate of 3.3% during the forecast period, owing to its variety of feature offered in upstream activities as well as in midstream operations. Oil pumps are used to lift fluid out of an oil well when there is not sufficient ground pressure to force the oil on the surface. These pumps are used mainly in onshore surface where oil is in abundant but the ground needs external force to release it. Oil pumps can deliver up to 10 gallons of fuel with every stoke depending on the height and weight of the oil.
The APAC pumps market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Product
Asia Pacific Market, By Position
Asia Pacific Market, By Driving force
- Engine Driven
- Electrical Driven
Asia Pacific Market, By Technology
- Dynamic Pumps
- Centrifugal Pumps
- PD Pumps
Asia Pacific Market, By Application
- Building & construction
- Oil & gas
- General industries
- Water & wastewater
- Power generation
The above information has been provided for the following countries:
- Asia Pacific
- South Korea