Portland, OR, Feb. 25, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global dewatering pumps market was pegged at $6.37 billion in 2018 and is projected to reach $10.13 billion by 2026, registering a CAGR of 5.9% from 2019 to 2026. The report offers a detailed analysis of the key segments including top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Increase in demand from the mining industry along with surge in construction activities are the two major drivers for the growth of the global dewatering pumps market. Furthermore, strong industrialization and rapid urbanization in emerging economies fuel the market growth. However, unstable prices of raw material and high operating costs associated impedes the market growth. On the other hand, surge in awareness about energy saving and government regulations along with rise in demand for wastewater management will provide major opportunities for the market growth in upcoming years.
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The global dewatering pumps market is divided on the basis of mode of application type, and region. On the basis of type, the market is segmented into submersible and non-submersible. The non- submersible segment held the largest share in 2018, contributing to approximately three-fourth of the market. However, the submersible segment is expected to register the fastest CAGR of 6.4% during the forecast period.
On the basis of application, the market is bifurcated into construction and agriculture, oil & gas, municipal, mineral & mining, and others. The construction and agriculture segment held the lion’s share in 2018, accounting for more than two-fifths of the market share. However, the municipal segment is projected to manifest the fastest CAGR of 7.1% during the forecast period.
The global dewatering pumps market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region dominated the market, contributing to more than two-fifths of the market in 2018. However, the LAMEA region is estimated to register the fastest CAGR of 6.7% during the study period.
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The global dewatering pumps market report includes an in-depth analysis of the major market players such as Grundfos, Gorman-Rupp, ITT INC., Xylem, Atlas Copco, The Weir Group PLC, EBARA Corporation, Sulzer Ltd., KSB SE & Co., and Flowserve Corporation. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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