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European Pumps Market revenue to reach $16 Bn by 2027
Published Date: 2021-08-05
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European Pumps Market size is estimated to surpass USD 16 billion by 2027, according to a latest forecast report by Graphical Research.
Increase in number of reconstruction and renovation activities in European construction sector will enhance the demand for pumps in dewatering and pressure boosting. Increasing employability from last few years in Europe will result in growth of consumer durables thus increasing demand for product in near future. All these factors will contribute towards the market growth.
Europe is also the hub for mechanical engineering, countries like Germany, Italy, UK etc. works extensively in this field. They also invest in R&D to develop enhanced equipment that have specific applications in power generation which have to face extreme temperature. Established automobile and construction sector in region will contribute towards the demand of pumps. Expansion in thermal and nuclear plant will further boost the regional pump market size in coming years. The COVID-19 pandemic has highly impacted the Europe pumps market revenue. Nevertheless, the rising demand for pumps in food & beverage sector during the COVID-19 pandemic is likely to support the industry demand.
Browse detailed statistical insights from the report, “Europe 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) @
The stationery pumps segment is projected to grow significantly in the coming years. Stationary Concrete pump can be utilized in construction sites, buildings, bridges, water conservancy, tunnel etc. Pumps are used for concrete placing applications such as sidewalks, swimming pools, home concrete and ground slabs. They provide features like stability, high efficiency, Super wear-resistant component, hydraulic oil treatment etc. Such trends and properties will increase the demand of product and propel the pump market share by the expected timeframe. However, portable pumps are treated as essential use in firefighters due to the advancements in their air-cooled engines and pump technology. The portable nature of this pump makes it very easily usable and hence proved as reliable in fire extinguishing operations.
Pump demand in developed Europe is driven by the advanced science sector where the process environment needs to be very carefully maintained. The products are widely used across the region due to significant product awareness. Growing oil & gas exploration activities in Europe will have a positive influence on the pump market demand. Moreover, rise in expenditure in research and technology advancement for industrial equipment in the region will augment the market size. Highly mature manufacturing and mining sectors in the country will also signify the regional product market over the forecast spell. The general industries segment in the region accounted for 27% share in 2020.
Operational and maintenance cost of pumps can impact the growth of the pumps market during the forecast period. Pumps require specific skill set for successful and efficient operation. For effective operation, training should be given to operators in order to avoid the misuse of these machines. These additional training costs will be included in initial costs.
The European 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:
Europe Market, By Product
Europe Market, By Position
Europe Market, By Driving force
- Engine Driven
- Electrical Driven
Europe Market, By Technology
- Dynamic Pumps
- Centrifugal Pumps
- PD Pumps
Europe Market, By Application
- Building & construction
- Oil & gas
- General industries
- Water & wastewater
- Power generation
The above information has been provided for the following countries:
- Rest of Europe