Asia Pacific Excluding Japan (APEJ) dominates the global sea water pumps market with a massive share of 46.9% in 2022. Rising seaborn trade, increasing ship manufacturing activities and heavy presence of leading market players are some of the factors
A new market research report by Future Market Insights investigates the sea water pumps market and provides key insights for the forecast period. As per the study, the global sea water pumps market is anticipated to experience significant growth over the forecast period, due to multiple driving factors such as increase in ship building activities and rise in the number of desalination plants being set up across several geographies.
The global sea water pumps market is estimated to be valued at US$ 1.3 Bn in 2022, increasing at a CAGR of 4.3% from 2022 and 2028. Growth is also being driven by the need to replace old sea water pumps and innovation in pump technology.
Sea water pumps are large, powerful pumps that are used to transfer or circulate sea water in a variety of applications. They are increasingly being used in ship water cooling systems, desalination plants, and oil refineries.
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Key Takeaways of Sea Water Pumps Market Study
“Sea water pumps are utilized in a variety of applications, ranging from ship building to desalination plants. Each of the applications has a different requirement, and therefore, enterprises are developing products as per specific demand.”
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Sea Water Pumps Market by Category
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Aug 31, 2022