Transparency Market Research (TMR) pointed out in its latest study that the global water pump market is highly integrated. In order to maintain their market position, major enterprises have continuously developed new technologies while strengthening merger and acquisition activities, which has further improved the integration of the global water pump market.
However, water pump companies have also seen that due to the non organic growth of their business, the market has shown a certain degree of stagnation. In the past few years, the level of competition has been low, which has become the main incentive for small and new enterprises to enter this market.
According to the TMR report, from 2017 to 2025, the global pump market will move forward with a CAGR of 4.9% (Compound annual growth rate), from $43.599 billion in 2016 to $66.852 billion in 2025.
This growth should be attributed to the continuous increase in water treatment, wastewater recycling, and the number of treatment plants globally, especially in emerging economies.
The increasing industrialization in India and China, coupled with the growing demand for clean water, is driving the application of water treatment technology, thereby increasing the demand for water pumps. In addition, in households, water pumps can also be used in various occasions such as gardening facilities and water coolers.
The prosperity of agriculture and construction continues to increase the demand for efficient water pumps. In addition, the efficiency of one-time liquid pumping has become an important factor in stimulating the increase in water pump usage throughout industry and construction sites. In recent years, the application of water pumps in this field has grown significantly, and it is expected that this will also happen in the coming years. These have all made positive contributions to the growth of the global water pump market.
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