Pumps are the essential element of any fluid dispensing system. These are used to carry fluids in fixed quantity, from one place to another place based on the requirements. Pumps are available in different shapes and sizes which are used by both industries and households across the globe. Portable pumps are usually used by households because of its small shape and size, which can be relocated according to requirement.
COVID-19 Impact analysis
- COVID-19 pandemic has shut-down the production of various products in the pump industry attributed to the lockdown in countries worldwide. This has hampered the growth of pump market in 2020 and, is likely to revive in 2021.
- COVID-19 has already affected the sales of pump in the second and third quarter of 2020 and is reviving in 2021.
- The major demand for pump was previously noticed from countries including the U.S., Germany, Italy, UK, and India, which are negatively affected by the spread of the corona virus, thereby declining the demand for pump.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Pump manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
- Pump manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Rapid industrialization in emerging economies is one of the key factors boosting the demand for pumps at a global level. These pumps are used in China and India at a large scale for the industrial purpose such as building and construction, mining, and oil & gas industries. Pumps are the fundamental elements in oil & gas pipeline and transportation. This factor plays a major role in its high demand. In addition, waste water treatment industry is a major consumer of pumps across globe. Pumps are used for transporting waste from various sources to treatment plants. Various governments are initiating and promoting waste water treatment due to rise in pollution. This factor is expected to boost the demand for pumps. Use of pumps in households for water transport at different level has a significant impact on the market.
Market Trends
- Key players in global market are collaborating and expanding their business. For example, Flowserve Corporation announced five year contract with Shell Australia, in August 2019. As per the contract, Flowserve will provide the maintenance services to Shell Australia’s Liquid Nitrogen Gas facility.
- Technological advancement is a key factor which is boosting the demand for pumps. For example, Xylem Inc. announced its new product Flygt N3069, which is a submersible pump, in July 2019. This product is designed to handle critical operations at different complex industries such as agriculture & food.
- In Asia-Pacific region, rapid urbanization in China and India foster the market growth of pumps. In 2018, China and India spent a significant amount of money for building and housing sectors.
- Among the end users, agriculture and housing sectors dominated the global market of pumps holding majority of consumers in 2019.
Key Benefits of the Report
- This study presents the analytical depiction of the pump market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the pump market share.
- The current market is quantitatively analyzed to highlight the pump market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed pump market analysis based on competitive intensity and how the competition will take shape in coming years.
Pumps Market Report Highlights
| Aspects | Details |
 By Type |
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 By Position |
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 By Driving Force |
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 By Technology |
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 By End-User |
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 By Region |
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 Key Market Players | Gorman Rupp Company, Baker Hughes, Sulzer, Flowserve Corporation, Gardner Denver, Atlas Copco, Doosan, Ebara Corporation, Schlumberger, Roper Pump Company |
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