The size of the world market for sea water pumps was approximately US$ 1.3 billion in 2022. The market will increase overall between 2022 and 2028 at a moderate CAGR of 4.3% due to the increasing use of sea water pumps for a variety of applications, reaching a worth of about US$ 1.6 Bn by that time.
Manufacturers targeting centrifugal pumps will be well-positioned to substantially increase revenue, margins, and profit. Owing to their compact size, and straightforward usage, centrifugal sea water pumps are garnering good reputation among end users.
Moreover, they will represent a multibillion-dollar opportunity during the latter half of the projection period. Maintenance of positive displacement pumps is cost-prohibitive, and the output of these pumps is inconsistent. Their market share is thus likely to stagnate over the coming years.
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Key Takeaways of Sea Water Pumps Market Study
- The centrifugal sea water pumps segment is expected to hold major share of the global sea water pumps market value as compared to positive displacement sea water pumps.
- On the basis of end use, the ships segment is expected to hold prominent value share of the global sea water pumps market. These pumps are used in weight transfer function, firefighting, bilge pumping, and high pressure pumping an air conditioners.
- By sales channel, offline sales channel is estimated to remain a key segment on the back of consumer preference towards customized sea water pumps.
- Asia Pacific is projected to hold prominent market share in terms of value in the global sea water pumps market. This growth is being propelled by rapid increase in ship building in countries such as China, South Korea, and Japan. These countries hold 70% share of the ship building market.
- However, the Middle East & Africa sea water pumps market is expected to project lucrative growth during the forecast period. This growth is attributable to increasing investments for desalination plants in the region.
Sea Water Pumps Market: Vendor Insights
The report highlights some of the prominent market players who have established themselves as leaders in the global sea water pumps market, such as KSB SE & Co. KGaA, Xylem Inc., Sulzer Ltd, Torishima Pump Mfg. Co., Danfoss A/S, ITT INC., Flowserve Corporation, Ebara Corporation, WILO SE, Grundfos Holding, The Weir Group PLC, Alfa laval, Kubota Corporation, AxFlow Holding AB, Kirloskar Brothers Ltd., Franklin Electric Co. Inc., Tsurumi Manufacturing Co. Ltd., Schlumberger Limited, and Eureka Pumps AS, among others.
The global sea water pumps market is significantly consolidated, with a few players holding prominent shares of the market. Tier-1 manufacturers account for 20%-25% share of the global market.
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Find More Valuable Insights on Sea Water Pumps Market
FMI, in its new research report, offers an unbiased analysis of the global sea water pumps market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study reveals insights on the sea water pumps market, and covers market dynamics, market share analysis, pricing analysis, and channel partners involved in the sea water pumps market value chain. Readers can also find key trends and market growth scenarios based on end-use industry and regions such as North America, Latin America, Europe, APEJ, Japan, and MEA.
By Segmentation:
The global sea water pumps market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Product
- Centrifugal Pumps
- Positive Displacement Pumps
Operation
- Submersible
- Non-submersible
End Use
- Ships
- Ballast Transferring
- Firefighting
- Bilge Pumping
- High Pressure Deck Washing/Engine Cooling
- Air Conditioning
- Desalination Plants
- Oil Refineries
Flow Rate
- 1 – 50 M3/H
- 51 – 150 M3/H
- 151 – 350 M3/H
- 351 – 500 s M3/H
- Above 500 M3/H
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Escalating demand for reduced operational expenses (OPEX) as well as growth in emerging markets is spurring the activity of mergers & acquisitions (M&A) in the sea water pumps market. Moreover, M&A activities are a key contributor to exponential growth among leading manufacturers that are focusing on expanding their product portfolios across untapped geographies and industrial applications. For instance, Xylem Inc. acquired EmNet LLC to manage urban water cycle, storm water, and wastewater treatment equipment. Moreover, Ebara Corporation acquired Brazil-based pumps manufacturer – Thebe Bombas Hidráulicas Ltda.
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