The dewatering pumps market is expected to grow at year-on-year rate of 5.3%, reaching a value of about US$ 6.9 Bn by 2022.
The dewatering pumps market is expected to grow at year-on-year rate of 5.3%, reaching a value of about US$ 6.9 Bn by 2022. The global dewatering pumps market is primarily driven by robust demand from ongoing infrastructure projects. Future Market Insights (FMI) has projected the market to register a CAGR of 5.3% by value during the period of 2022 and 2028.
With the expansion of residential complexes, industrialisation, and the mining sector, the need for dewatering pumps is increasing. Dewatering pumps are typically used to remove excess of water from construction and mining sites. They are transportable equipment that are commonly used in subsurface excavation for foundations and basement space building, and are positioned at construction sites with lower ground levels to manage and maintain groundwater levels.
North America is expected to dominate the global dewatering pumps market in terms of revenue in 2022, with a CAGR of 4.7% in terms of value over the forecast period.
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According to Future Market Insights, the dynamics of the dewatering pumps market, which is primarily influenced by residential complex expansion, industrialization, and the mining industry, will be the subject of a comparison and review study. Increased hydraulic fracturing production to support oil and gas operations will foster market expansion.
Long-term tie-ups with EPC (Engineering Procurement and Construction) companies are expected to provide high and stable sales to international manufacturers of dewatering pump. Most sales of small and medium capacity pumps take place through distributors and retailers, which generally hold multi-branded & wide variety products at their shelves.
The global dewatering pumps market is identified as a fairly concentrated market with the organized sector having a share of around 49% of the global market followed by Tier 2 and small scale manufacturers. The principal aim of the manufacturers has been the expansion of market footprint via extension of their product portfolio and strengthening of the sales and distribution network.
Providing integrated offerings through diverse range of products and developing strong distribution and aftersales service network at regional and local level can provide significant opportunities for growth. In order to gain competitive advantage, strong focus on life-cycle costs analysis, including reducing operating costs through energy-efficient solutions, is highly required for product differentiation.
Burgeoning Exploration Activities for New Sources of Water to Trigger High Demand
Governments of emerging economies in Asia Pacific and MEA, particularly in countries such as South Africa, Morocco and the UAE, are focusing on improving drinking water facilities in urban as well as rural areas. Also, exploration of new water sources is expected to increase sales of pumps with enhanced capacity and efficiency for agricultural and domestic applications. Desalinization projects are also expected to contribute to adoption of pumps, as most parts of the globe still lack the basic facility of running water.
An estimated 60% of the world is still without running water. ASEAN region is witnessing increase in water supply and sanitation projects by governments, which is likely to boost sales of centrifugal pumps for domestic and agricultural applications. It has been estimated that only 50% of the global population has access to drinking water from a piped connection providing running water in their homes or compounds. As per the analyst, the demand for dewatering pumps across the globe, especially in ASEAN countries will increase owing to these reasons.
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Low Priced China-based Pumps to Act as Hindrance to Market Growth
The presence of numerous Chinese players who are offering low-priced pumps acts as a restraint to most regional and global players offering pumps. The surging price pressure from these players is influencing the main suppliers to offer high-quality, reliable, efficient, and technologically-advanced pumps at competitive prices. However, the price sensitive nature of the market is a restraining factor on overall revenue growth potential of the global pump market.
Emergence of China as a major producer of low cost pumps, is has disrupted the market to a certain extent. In order to overcome this challenge, international pump vendors need to differentiate their products through various additional services and integration of advanced technologies.
Dewatering Pumps Market by Category
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Dewatering Pumps Market Growth , Dewatering Pumps Market Demand , Dewatering Pumps Market Analysis
Dec 15, 2022
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