Future Market Insights (FMI) projects that sales in the global end suction pumps market will exceed US$393 billion in 2023 and will remain steady over the long run. According to the analysis, the market is predicted to grow at a CAGR of around 4.93% between 2023 and 2033.
The end suction pump market will expand annually (YoY) by 3.5% to 4.3 million units in 2021. According to an industry analysis by end suction pumps, demand for close coupled pumps would increase by 3.6% to 3.6 million units by the end of 2023.
Gain expert insights and supercharge your growth strategies. Request our market overview sample now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-14196
Steered by surging applications in commercial and industrial sectors alike, the sales of end suction pumps will represent 3% of global pumps market in 2021.
According to Future Market Insights (FMI), ongoing development and adoption of new technologies in the industrial sector is a key factor behind the surging demand for end suction pumps in industries such as chemicals, petrochemicals, processed food & beverage, and others.
Rising expenditure towards infrastructural expansion, covering construction expenses in hospitality and institutional sectors, has boosted the demand for end suction pumps for commercial applications. The future growth of end suction pumps’ market is expected to ride on the back of centrifugal pumps’ market growth.
Because of the global pandemic, demand for end suction pumps declined marginally in 2020. The effect of COVID-19 on demand from heavy end-use industries like power generation and mining was lower, which drove end suction pump sales in various regions.
The demand for end suction pumps has been increasing in the manufacturing sector. This can be attributed to the advancements registered in the manufacturing sector, especially in various developing regions.
Increasing energy costs and growing environmental awareness among end users are expected to drive demand for energy-efficient and cost-effective end suction pumps over the forecast period. Industries often rely on end suction pumps to improve pump efficiency and reduce energy consumption.
Key Takeaways from End Suction Pumps Market Study
- Close coupled pump segment is projected to hold over 80% volume share in the global market in 2021.
- The demand from the industrial sector will account for 75% of the overall sales in the market.
- East Asia will remain a primary market, backed by the expansion of industries and growing urbanization in the region. It is expected to account for over 25% of the global demand in 2021.
- Up-to 100 GPM and suction pumps’ sales will surge at a CAGR of approximately 4.6% over the coming decade.
- Sales of end suction pumps in the U.S. will total US$992.4 Million by 2031.
“Higher focus on the expansion of manufacturing will boost end suction pumps sales in the coming years. Focus on turnkey projects by OEMs is expected to create an attractive opportunity for the growth of the market,” says a Future Market Insights analyst.
Competition Landscape
The end suction pumps market is highly fragmented, with over 100 players across the world. The top companies account for around 15-20% of the market share. In order to achieve high sales, leading market players are creating contracts with end users and customizing solutions to cater to industry-specific requirements.
Some of the Prominent Players Working in the Global Market
- Grundfos
- Sulzer Ltd.
- Xylem Inc.
- KSB AG
- Flowserve Corporation
- Ebara Corporation
- Kubota Corporation
- Ruhrpumpen Group
- Kirloskar Brothers Ltd.
- WILO SE
- DESMI A/S
- Pentair
- Torishima Pump Manufacturing Co., Ltd
Explore In-Depth Market Analysis: Purchase Now to Access Segment-specific Details, Uncover Crucial Trends, Drivers, and Challenges:
https://www.futuremarketinsights.com/checkout/14196
End Suction Pumps Market by Category
By Type:
- Close Coupled Pump
- Separately Coupled Pump
By Flow Rate:
- Upto 100 GPM
- 100 to 300 GPM
- 300 to 500 GPM
- 500 to 1,300 GPM
- 1,500 to 5,000 GPM
- Above 5,000 GPM
By Application:
- Commercial
- Hotels
- Swimming Pool
- Retail Space
- Office & Institution
- Industrial
- Food & Beverages
- Chemicals
- Mining & Metals
- Power Generation
- General Manufacturing
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
