The market for water pumps in Europe is predicted to expand annually (YoY) by 3.8% to reach US$8 billion in 2021. According to the analysis, between 2021 and 2031, the demand for water pumps in Europe would grow at a 3.6% CAGR.
The Europe Water Pumps Market was worth US$ 8 billion in 2021 and is expected to be worth US$ 11.4 billion by 2031, growing at a CAGR of 4.3% between 2021 and 2031.
Europe has long been the market leader in water pumps. This state is expected to continue even in the forecast period.
2 HP water pumps are used by more than 25% of Europeans. The main uses are for irrigation, simplicity of usage, and potability. Here, robustness and durability are also benefits.
In the area of industrial wastewater, there are submersible pumps in use. They are inexpensive and greatly aid in emptying the inundated water. Another advantage is that water pumps from deeper depths may be used effectively, and without any overstaining.
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Numerous fluids are transported using industrial water pumps in a variety of industries. These water pumps are being made available to move items other than water, such as chemical fluids, oils, beverages, meals, wastewater, sludge, and other materials. Modern commercial and industrial water pumps have been designed to endure challenging topography and climatic conditions. Agriculture, irrigation, and wastewater/water applications are all included in this list of end uses.
Stationery pumps account for more than 80% of the overall market share. This could be attributed to the fact that they are abreast with the motor located above the ground level. The bottom of the pump is connected through vertical shaft. Either an AC electric induction motor (through right-angle drive) or a diesel engine drive these water pumps.
The pharmaceutical vertical is also expected to contribute toward growth of Europe water pump market in wake of distilled water needed for processing of drugs.
Future Market Insights has entailed these facts with future prospects in its latest market study entitled ‘Europe Water Pumps Market’. Its indigenous team comprising analysts and consultants have etched every type of research like primary, secondary, and tertiary in the market study considering bottom-up approach.
Key Takeaways from Europe Water Pumps Market
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Competitive Landscape
“Rapidly expanding food & beverages and building & construction verticals ought to take Europe Water Pumps Market to a new ‘high’ in the upcoming period”, says an analyst from Future Market Insights.
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Key Europe Water Pumps Market Segments Covered
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Europe Water Pumps Market review , outlook , forecast , demand , size , share , keytrends , analysis , Research , overview
May 16, 2023