NEW YORK, September 30, 2021 / PRNewswire / – From $ 707.2 million in 2020, the European water pump market value is expected to increase at a CAGR of 1.8% during 2020-2030 and reach $ 848.3 million by 2030.
The main growth factors of the market are:
Rapid urbanization: According to the World Bank, the urban population of the European Union (EU) increased from 322 million in 2010 to 335 million in 2020. In addition, the organization reports that the share of the urban population in the total population of Europe rose from 73.9% in 2015 to 74.9% in 2020. This is due to the fact that people are constantly moving to urban areas from rural areas in search of jobs and a better standard of living . In addition, the governments of many European countries are focusing on infrastructure development, which is propelling the growth of the European water pump market.
Groundwater level depletion: Climate change has caused the rapid depletion of groundwater levels. According to a report published by the National Aeronautics and Space Administration (NASA), Europe had its warmest winter in 2019-2020. In addition, according to the Copernicus Climate Change Service (C3S), Europe experienced the onset of a meteorological drought in early 2020, in the spring, which led to drier-than-normal weather during the months of April and May.
The COVID-19 pandemic has had a negative impact on the European water pump market. This is attributed to the fact that blockages in many countries have caused disruptions in the supply chain and affected the distribution and assembly of domestic pumps. In addition, due to lack of funds, organizations focus a lot on research and development (R&D). In addition, there are many smaller players who operate with low profit margins. However, with the lifting of the blockages, the situation is expected to change and sales of water pumps are expected to increase in the years to come.
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The centrifugal category has dominated the European water pump market, under the type segment, in the past. These pumps are widely used because of their ability to operate with high efficiency while pumping low viscosity fluids, such as water, and their low costs. In addition, the availability of centrifugal pumps in various shapes and sizes provides end users with the flexibility to purchase according to their needs.
The water supply category is expected to show the highest growth rate in the European water pump market in the coming years, in the operations segment. This is attributed to the wide field of application of water supply pumps, including rainwater harvesting and groundwater intake.
Germany has contributed to the highest revenues of the European water pump market in the past due to the existence of strict wastewater treatment policies in the country which oblige the use of these machines even in sewage treatment plants. domestic wastewater. In addition, the government’s demand to reduce the energy consumption of pumps is expected to propel sales of energy-efficient variants in the country in the years to come.
Browse detailed report on Europe Water Pumps Market Size and Growth Forecast till 2030
The main players in the European water pump market are Xylem Inc., KSB SE & Co. KGaA, Grundfos Holding A / S, DAB PUMPS SpA, Wilo SE, Ebara Corporation, GARDENA GmbH, Sulzer Ltd., SA Armstrong Limited, Patterson Pump Company, Metabowerke GmbH and Pedrollo SpA
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Water pump market – Geographically, Asia Pacific has dominated the water pump market in previous years, due to the surge in disposable income of people and the intensification of industrialization in the region, especially in India and China. In this region, China adopted the largest number of water pumps due to the expansion of energy, chemical, oil and gas industries.
Centrifugal Water Pumps Market – Globally, the centrifugal water pump market is expected to register huge expansion in the Asia Pacific (APAC) in the coming years. The main factors that propel the sales of centrifugal water pumps in this region are the increasing rate of urbanization, rapid industrialization and the increase in disposable income of people living in countries in the region such as China and India.
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