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The North & Latin America Water Pumps Market, by Product Type (Centrifugal Pump and Positive Displacement Pump), by Application (Centrifugal Pump Application (Domestic, Water Treatment (Industrial, commercial), Agriculture & Irrigation, Mining, Wastewater Treatment (E.T.P., S.T.P.), Oil & Gas, and Other Industrial) and Positive Displacement Pump Application (Chemical, Water & Wastewater, Power, Pulp & Paper, Oil & Gas, and Others)), by Capacity (Small, Medium, and High) – North & Latin America Forecast to 2027”, is expected to be valued at US$ 15,598.5 million by 2027, witnessing a CAGR of 4.8% during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.

Market Overview

Centrifugal pump is a mechanical device that is used for transportation of liquid of various types including water, oil, wastewater, etc. Immresible 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.

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 Driver

Development of water supply and distribution infrastructure is expected to drive growth of the North & Latin America water pumps market during the forecast period

Although there is abundant of natural water resources available, civil authorities use only 1/10th of total resources. Governments of emerging economies such as Latin America are focused on improving drinking water facilities in urban as well as rural areas. Exploration new water sources are expected to boost the demand for water pumps with enhanced capacity and efficiency for domestic as well as agricultural applications. Moreover, desalination process is expected to accurate the adoption of water pumps in the near future. For instance, multinational water companies such as RWE-Thames Water and Suez Environment have started water distribution operations with Suez Environment alone securing a contract worth US$ 4 Bn for a period of 10 years. Moreover, investments of over US$ 5 billion in countries such as Colombia and Argentina in 2013-2014 have major market players such as Ebara Corporation, Xylem Inc., Grundfos, and others to tap the business potential in commercial and municipal water and wastewater segments.

Market Opportunity

Increasing focus on pump life cycle cost is expected to offer excellent growth opportunity in the near future

The life cycle cost and initial cost of a centrifugal pump plays an essential role in growth of the market. Pump manufacturers, as well as equipment and service providers are advised to gather data regarding the life cycle cost of the centrifugal pump over time. Centrifugal pump industry players need to analyse cost of energy and the return of investment for Centrifugal Pumps rather than concentrating on buying and installation costs. Most of the times, customers realize the benefits of the lifecycle approach during purchase, which creates an opportunity for most centrifugal pump manufacturers to offer energy-efficient and long lasting Centrifugal Pumps.

Market Restraints

Growing inclination of farmers in emerging economies towards low-price pumps is expected to restrain the North & Latin America water pumps market growth over the forecast period

Poor farmers from emerging economies are cost-sensitive and prefer to purchase low-price pumps produced by local manufacturers. This, in turn, hinders the sales of pumps offered by reputable brands. Moreover, China-based manufacturers are offering technologically advanced and efficient pumps at competitive price, which in turn, is expected to hinder the market growth up to certain extent. For instance, according to Coherent Market Insights’ analysis, China-based players sell centrifugal pumps at 25% to 30% lower prices as compared to other major market players. This increases preference of end users for Chinese brands for agricultural and domestic applications. Therefore, availability of low price products is expected to hinder the market growth over the forecast period. 

Market Trends

  1. Strategic mergers and acquisitions among key market players are expected to be the major trend in the near future

 Key players in the market are focused on strategic activities such as mergers and acquisitions, in order to gain competitive edge in the market. For instance, in 2012, Weir Group PLC, a Scotland-based engineering company, acquired Novatech LLC, a U.S.-based supplier of automation and engineering solution. Moreover, in 2015, Ebara Corporation acquired Thebe Bombas Hydraulicas SA. Furthermore, key players are also focused on capacity expansion and partnerships, in order to enhance their market presence. For instance, in 2013, KSB Pumps established a new works facility in Brazil, in order to expand its business in Latin America. In 2014, Flowserve Corporation entered into partnership with Veolia and Sulzer AG.

  1. North America Trends

High growth of oil & gas industry in the U.S. and Canada is expected to boost the demand for centrifugal pumps, owing to hydraulic fracturing in oil & gas extraction and shale gas production. Growing demand for energy and power, oil & gas industry is expected to witness significant growth during the forecast period. This trend is coupled with increasing demand for automation and environment-friendly and energy-efficient pumps. For instance, in 2014, the U.S. accounted for the major production of oil & natural gas, overtaking Saudi Arabia and Russia, driven by extraction of energy from shale rocks. Moreover, according to the International Energy Agency (IEA), by the end of 2019, oil output for the U.S is expected to reach to 13.1 Mn barrels a day.

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 companies in the market are involved in product development, in order to expand their product portfolio. For instance, in September 2019, Sulzer AG launched latest addition of submersible drainage pump XJ 900, which can used for mining, tunneling, and construction-related work.
  2. Major market companies are focused on product launches, in order to enhance their product portfolio. For instance, in May 2018, Ebara Corporation launched a water pump equipped with advanced technology and near-field communication (NFC).

Segmentation

Market Taxonomy:

  1. 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
  1. By Countries
  • North America
    • U.S.
    • Canada
  • Latin America
    • Argentina
    • Brazil
    • Mexico
    • Rest of Latin America
  1. By Capacity
  • Small
  • Medium
  • High
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