Global axial flow pumps market was worth USD 32.23 billion in 2019. It is projected to grow at a compound annual rate (CAGR of 3.6%) between 2020 and 2027. The product demand will be driven by rising investments made in Africa and the Middle East for oil & gas expansion. Axial flow pumps will be in high demand due to the global growth of the wastewater and water treatment industry in the last few years. This can be attributed to rising freshwater demand due to rapid urbanization, industrialization, and technological advances. The market will be driven by rising government spending on the development of power generation and petroleum industries over the forecast period.
Due to increased exploration in the offshore and onshore unconventional oil and gas sectors, the U.S. market for axial flow pump is expected to expand significantly. The overall market will be driven by technological innovations and renovations to the existing infrastructure for industrial water and wastewater management.
Due to technological advances, increasing industrialization, and rapid urbanization, the demand for energy fuel has increased dramatically over the last few years. This will increase the product's penetration in many end-use industries such as power, oil and gas, water, and wastewater treatment.
The increasing use of axial flow pumps in water treatment and wastewater management is expected to drive the market in the future. Axial flow pumps are expected to be used more in the chemical industry due to their high discharge rate and controlled vertical heads. This prevents spillage.
Veolia and Xylem Inc., two wastewater management companies, have partnered with axial pump manufacturers to develop new and more efficient machines. This will lead to increased market growth. Axial flow pump manufacturers have adopted value chain integration strategies to track the raw material used in making the pumps as well as the efficiency of the components.
High power axial flow pumps dominated the market, accounting for 52.7% of global revenue in 2019. This was due to the increased demand for high-power pumps in applications such as flood dewatering or water and wastewater treatment. High power axial flow pumps will be in demand due to the rapid development in power generation in South America and Central America.
High-power axial pumps will be in high demand due to the development of the oil & gas, and petroleum sectors in Africa and the Middle East. Companies such as Qatar Projects Oil & Gas Services or Saudi Aramco have made significant investments in expanding their businesses in other regions. This has increased the demand for these pumps.
From 2020 to 2027, the miniwatt axial flow pumps segment will grow at 3.1%. Miniwatt axial flow pumps will be in high demand due to the increasing use of industrialization techniques and technological developments in South America and Asia Pacific.
High-power axial pumps have a key advantage: they can discharge at a lower vertical distance and have a high discharge rate. These pumps can pump more water and other liquids than centrifugal pumps at a distance of less than four meters. This reduces aerodynamic losses and increases product demand.
In 2019, the largest share was 29.5% for the others segment. In 2019, the food and beverage segment was second in terms of share. This can be attributed to the investments made by food and beverage companies in new machinery and pumps, as well as the recently established regulations by the Department of Energy and U.S. Food & Drug Administration.
Axial flow pumps can be used to handle flammable, vicious and aggressive fluids. Chemicals are used in many industries including construction, manufacturing and automotive. These industries are expected to grow, which will increase the demand for chemicals. This could impact the penetration of axial flow pump for chemical handling.
The onshore and offshore exploration will be boosted by rising crude oil demand to facilitate overseas logistics, production centers, domestic transports, and domestic transports. Due to increased investment in the sector in order to meet growing energy demand in developing countries like Brazil, China, India, South Korea and South Korea, the petroleum segment will likely expand at a 4.2% CAGR over the forecast period.
Proper sewage systems are becoming more important due to the rapid growth of commercial and residential buildings. Municipalities are expected to make significant investments in pumping solutions that will ensure consistent water supply to residential areas. Axial flow pumps are expected to be in demand as a result of the rapid growth of cities.
Asia Pacific dominated the market, accounting for 41.6% of global revenue in 2019. A growing demand for axial pumps in the region can be attributed to the phenomenal growth of end-use industries such as domestic water, wastewater and petroleum. Market growth is expected to be fueled by rapid investments in manufacturing to meet the growing demand from a rapidly expanding population.
Axial flow pumps have been adopted in Europe due to government initiatives in setting up wastewater and water management facilities in countries like France, Germany, Italy, and the U.K. The recent COVID-19 outbreak, which caused the temporary closing of many manufacturing plants, has led to a decrease in demand.
North America is forecast to grow at 2.2% CAGR over the forecast period. Market growth is expected to be driven by the U.S.'s advanced processing capabilities and continuous R&D for pump manufacturing. Moreover, the region is likely to see an increase in product demand due to rising water scarcity.
Axial power pumps are expected to increase in demand in South Africa and Central Africa due to the expanding power generation industry in Argentina and Brazil. The region's product demand will be boosted by the replacement of centrifugal pumps by axial flow pumps, which are more efficient at work in power plants and water management plants.
Due to the presence multinational and local players, the global market is highly competitive. To expand their product ranges and strengthen their market positions, market players have adopted key strategies such as the development of new technologies or customization options.
Market players are also creating strategic partnerships with industry players to integrate the value chain and long term deals with end-use industries. This includes water management, oil and gas, food and beverage, and oil and gas. These partnerships allow them to design pumps that suit their specific needs and expand their product range. Market players are also expanding their distribution network. The following are some of the most prominent players in the global market for axial flow pumps:
Xylem
Grundfos
KSB SE & Co. KGaA
Sulzer Ltd.
Pentair
Weir Group PLC
Up Market Research published a new report titled “Axial Flow Pump Market research report which is segmented by Application (Chemical, Food & Beverage), by Type (High Power, Miniwatt), By Players/Companies Xylem, Weir Group PLC, Grundfos, Pentair, Sulzer Ltd, KSB SE & Co KGaA”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Axial Flow Pump Market Research Report |
By Application | Chemical, Food & Beverage |
By Type | High Power, Miniwatt |
By Companies | Xylem, Weir Group PLC, Grundfos, Pentair, Sulzer Ltd, KSB SE & Co KGaA |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 224 |
Number of Tables & Figures | 157 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Chemical, Food & Beverage), by Type (High Power, Miniwatt).
Axial Flow Pump Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Axial Flow Pump Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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