Market Insights - North & Latin America Water Pumps Market

Market Definition

A pump is a mechanical device that moves fluids by mechanical action. Centrifugal pumps are special type of mechanical pumps that are used in transportation of liquid of various types. Centrifugal pumps find applications in agricultural and domestic purposes. The operation of this pump, as the name suggests, is based on centrifugal force, where it converts rotational kinetic energy provided by electric motor, gasoline motor or steam turbine into hydrodynamic energy of the moving liquid that is being pumped. Centrifugal pump is extensively used in different industries due to design simplicity, smooth rate flow, ease of maintenance, wide range of capacity, and operational efficiency. The minimum range of pump can be 0.125 horsepower to 5000 horsepower. It is used in agricultural, domestic, and industrial applications.

North & Latin America Water Pumps market is estimated to account for US$ 10,698.4 Mn in terms of value by the end of 2019.

Market Dynamics- Drivers

  1. Constant demand from oil & gas and mining industries is expected to drive growth of the North & Latin America water pumps market during the forecast period

Oil & gas industries based in countries such as the U.S. Venezuela, Canada, and Mexico are the prominent end users of the water pumps. These pumps are used for exploration as well as refining activities. According to Coherent Market Insights’ analysis, in 2015-16, gross revenue contribution from oil & gas segment accounted for around 25% of overall revenues, of which around 40% share was in North and Latin America. Moreover, mining activities in the U.S. and Latin American countries such as Peru and Chile have supported the demand for water pumps, especially repair and maintenance of existing pumps. According to Coherent Market Insights’ analysis, Chile and Peru are expected to provide a combined capital expenditure opportunity involving pumps of around US$ 70 billion by end of the forecast period. Therefore, these factors are expected to boost the market growth over the forecast period.

  1. Stringent energy and environment regulatory policies and legislation are expected to propel the North & Latin America water pumps market growth over the forecast period

The Minimum Energy Performance Standards (MEPS) policy has directed the use of motor driven units (MDUs) in the U.S., in order to optimize the use of intake energy during their operation to conserve energy. This has compelled users to update their existing system into energy efficient units. For instance, according to the International Energy Agency (IEA) 2014 policy, a motor-driven unit should be ideally designed to deliver energy savings in a range of 20-30%. Moreover, according to the United States Environment Protection Agency (USEPA), municipal wastewater and stormwater management agencies should deploy water pumps in targeted areas. This, in turn, is expected to support the market growth in the near future.

North America region dominated the market in 2018, accounting for 80.1% share in terms of volume, followed by Latin America, respectively.

North & Latin America Water Pumps  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Significant drop in capital expenditure across industrial sectors is expected to restrain growth of the North & Latin America water pumps market during the forecast period

The financial year 2015-16 witnessed significant dip in capital expenditure across various industrial vertical, especially in heavy and medium industrial sector with 30% drop as compared to previous years. This is majorly due to recessive economic reforms across industrial sectors. These industries have higher supply-to-demand ration, suggesting that industries need to reduce output production and stop their upcoming expansion plans. For instance, in the U.S. oil & gas exploration sector the focus on expansion in operations has shifted from long-term cycle to projects having short term execution periods resulting in cancellation of projects worth US$620 for the period 2015-2020 thus deferring the prospects of greenfield projects.

  1. Availability of cheap pumps offered by China-based manufacturers is expected to hinder the North & Latin America water pumps market growth over the forecast period

China-based manufacturers present in the regions are offering low price products, which in turn, is expected to market growth up to certain extent. Increasing pressure from these players by offering high-quality, reliable, efficient, and technologically advanced products at competitive prices are expected to hinder the sales of regional players. Moreover, advent of China as a major producer of low cost water pumps has disrupted the market up to certain extent, thereby hindering the market growth.

Market Opportunities

  1. Growing focus on optimization of centrifugal pumping system and production speed

Major manufacturers in the market are focused on enhancing centrifugal pumping system and accelerating production speed. Pump manufacturers can offer wide range of varieties in their portfolio with customization and prompt service. Moreover, customer applications have become more product or service specific instead of general, manufacturers can custom-made products, in order to capitalize market. Adjustable frequency drives are proving to be more economically feasible for end users, since they save energy. This, in turn, is expected to pose lucrative growth opportunities for market players in the near future.

  1. Increasing emphasis on pump life cycle cost

The interchange between initial cost and life cycle cost has provide to be playing a crucial role for centrifugal pump manufacturers and end users. Manufacturers need to evaluate life cycle costs facilitate smart buying decision for consumers. Moreover, centrifugal pump manufacturers need to analyze cost energy and return of investment for centrifugal pumps, instead of focusing on buying and installation cost. According to Coherent Market Insights’ analysis, buying and installation cost accounts for around 18% of total unit cost while operation and lifecycle cost represent the remaining 80% of the overall centrifugal pump cost.

North & Latin America Water Pumps  | Coherent Market Insights

Source: Coherent Market Insights

Centrifugal Pump based application segment was valued at US$ 9,512.2 Mn in 2018 and is forecasted to reach a value of US$ 14,503.2 by 2027 at a CAGR of 4.8% between 2019 and 2027.

Market Trends

  1. High demand for energy-efficient centrifugal pumps is expected to continue in the near future

Rising energy cost and growing awareness regarding environment among consumers are expected to boost the demand for energy-efficient and cost-effective centrifugal pumps during the forecast period. Energy-efficient pumps reduce annual energy costs and creates positive impact on the environment. According to Coherent Market Insights’ analysis, enhancing efficiency of a 2,500 Hp multi-stage pump by 3% can result in cost savings of around US$ 36,000 every year. According to the same source, pump motors account for 15% of the North & Latin America energy consumption. However, with over 40% centrifugal pumps to be covered by stricter energy efficiency regulations by 2020, this number is expected to decline significantly. Moreover, centrifugal pumps manufactured in China are only 75% energy efficient as compared to pumps manufactured by other market players.

  1. Growing focus on trades conferences, industrial fairs and platforms is expected to boost the demand

Key companies in the market are focused on participating in industrial fair platforms, trade conferences, and similar events, in order to endorse their products among end users. Major companies such as KSB AG, Xylem Inc. and Grundfos etc. have annual schedule of attending industrial, municipal, technology and environment protection awareness based events and exhibitions in U.S. such as World Ag Expo, American Water Summit, Conexpo-Con/AGG etc. According to Coherent Market Insights analysis, manufacturing companies allocate around 15-20% of their annual marketing budget for marketing and endorsement activities.

Segment information:

North & Latin America Water Pumps market, by product type segment, the centrifugal sub-segment dominated the market in 2018, accounting for 92.9% share in terms of value, followed by positive displacement pump, respectively.

Source: Coherent Market Insights

Value Chain Analysis

North & Latin America Water Pumps  | Coherent Market Insights

Source: Coherent Market Insights

Competitive Section

Key players operating in the North & Latin America water pumps market are KSB AG, Ruhrpumpen Group, Flowserve Corporation, Kirloskar Brothers Limited, Sulzer AG, Xylem Inc., Ebara Corporation, Wilo SE, GRUNDFOS, and The Weir Group PLC.

Key Developments

  1. Key players in the market are focused on collaborations and partnerships, in order to enhance their market presence. For instance, in February 2019, Ruhrpumpen Group partnered with Wolong Electric to supply five API 610 barrel-casing pumps.
  2. Major market companies are involved in product launches, in order to enhance their market presence. For instance, in February 2019, Kirloskar Brothers Limited introduced KU6 - oil-filled 6" borewell submersible pump with higher efficiency and lower costs.

A pump is a mechanical device that moves fluids by mechanical action. Centrifugal pump is a mechanical device that is used for transportation of liquid of various types including water, oil, wastewater, etc. Centrifugal pumps find applications in agricultural and domestic purposes. Immersible pumps are a type of centrifugal pumps and a subset of submersible pumps, which are deployed in extreme pumping applications related to wastewater and effluent treatment. However, submersible type pumps have a predominant market share compared to immersible pumps in terms of application by wastewater treatment. Furthermore, positive displacement pump refers to a mechanical device that is used for transportation of fluid, with definite volume of fluid being transferred in each cycle of pump. It is typically used for extensive range of application such as oil & gas, chemical, and food & beverages sector.

Market Dynamics                             

Constant demand from oil & gas and mining industries is expected to drive growth of the North & Latin America water pumps market and 2. Stringent energy and environment regulatory policies and legislation the major factors that are expected to propel the North & Latin America water pumps market growth.

However, significant drop in capital expenditure across industrial sectors is expected to restrain growth of the North & Latin America water pumps market during the forecast period

Market Taxonomy

This report segments the North & Latin America water pumps market on the basis of product type, application, and capacity. On the basis of product type, the North & Latin America water pumps market is segmented into centrifugal pump and positive displacement pump. On the basis of application, the market is segmented into centrifugal pump application and positive displacement pump application. The centrifugal pump application is further segmented into Domestic, Water Treatment (Industrial, commercial), Agriculture & Irrigation, Mining, Wastewater Treatment (E.T.P., S.T.P.), Oil & Gas, and Other Industrial. Also, the positive displacement pump application is further segmented into Chemical, Water & Wastewater, Power, Pulp & Paper, Oil & Gas, and Others. On the basis of capacity, the market is segmented into transportation & small, medium, and high.

Key features of the study:

  • This report provides an in-depth analysis of the North & Latin America water pumps market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the North & Latin America water pumps market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include KSB AG, Ruhrpumpen Group, Flowserve Corporation, Kirloskar Brothers Limited, Sulzer AG, Xylem Inc., Ebara Corporation, Wilo SE, GRUNDFOS, and The Weir Group PLC.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The North & Latin America water pumps market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the North & Latin America water pumps market

Detailed Segmentation:

Market Taxonomy:

  • By Type
    • Centrifugal Pump
      • Type Centrifugal Pump
        • Single Stage
        • Multi Stage
        • Axial & Mixed
        • Submersible
        • Circulator
      • Application Centrifugal Pump
      • Domestic
      • Water Treatment (Industrial, commercial)
      • Agriculture & Irrigation
      • Mining
      • Wastewater Treatment (E.T.P., S.T.P.)
      • Oil & Gas
      • Other Industrial
    • Positive Displacement Pump
      • Type Positive Displacement Pump
        • Reciprocating
        • Rotary
      • Application Positive Displacement Pump
      • Chemical
      • Water & Wastewater
      • Power
      • Pulp & Paper
      • Oil & Gas
      • Others
  • By Countries
    • North America
      • U.S.
      • Canada
    • Latin America
      • Argentina
      • Brazil
      • Mexico
      • Rest of Latin America
  • By Capacity
    • Small
    • Medium
    • High

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Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Capacity
      • Market Snippet, By Country
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New Product Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. North & Latin America Water Pumps Market, By Product Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Centrifugal Pump
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
      • Single Stage
      • Multi Stage
      • Axial & Mixed
      • Submersible
      • Circulator
    • Positive Displacement Pump
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
      • Reciprocating
      • Rotary
  5. North & Latin America Water Pumps Market, By Application, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Centrifugal Pump Application
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
      • Domestic
      • Water Treatment (Industrial, commercial)
      • Agriculture & Irrigation
      • Mining
      • Wastewater Treatment (E.T.P., S.T.P.)
      • Oil & Gas
      • Other Industrial
    • Positive Displacement Pump Application
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
      • Chemical
      • Water & Wastewater
      • Power
      • Pulp & Paper
      • Oil & Gas
      • Others
  6. North & Latin America Water Pumps Market, By Country, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Capacity, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Capacity, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Argentina
        • Brazil
        • Mexico
        • Rest of Latin America
  7. Competitive Landscape
    • Company Profiles
      • KSB AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ruhrpumpen Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Flowserve Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Kirloskar Brothers Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sulzer AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Xylem Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ebara Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Wilo SE
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • GRUNDFOS
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • The Weir Group PLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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