Why is European Water Pump Market Booming in Germany?

The European water pump market revenue stood at $707.2 million in 2020, and it is predicted to surge to $848.3 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 1.8% from 2020 to 2030 (forecast period). The major factors driving the expansion of the market are the rapid depletion of ground water level, increasing consumer spending, surging infrastructure development activities, and rapid urbanization in the region.

Rapid urbanization is one of the major European water pump market growth drivers. As per the World Bank, the urban population in the European Union member countries surged from 322 million in 2010 to 335 million in 2020. Additionally, according to the organization, the share of the urban population in the total population of the region increased to 74.9% in 2020 from 73.9% in 2015. Hence, with the rising urbanization rate, many governments are increasingly focusing on developing better infrastructure, as the booming population is creating pressure on the already existing drinking water and utility water infrastructure of the region.

Germany dominated the European water pump market in the past. This was because of the enactment of stringent wastewater treatment policies, which domestic sewage treatment plants are required to adhere to. In addition, as per EUROPUMP, which is also called the European Association of Pump Manufacturers, the demand for reducing the energy consumption of pumps will propel the need for energy-efficient water pumps, which will, in turn, fuel the growth of the regional market in the coming years. 

Thus, it can be concluded from the above paragraphs that the sales of water pumps will shoot up in Europe in the years to come, primarily because of the rapid urbanization, depletion of ground water level, and increasing implementation of massive infrastructure development initiatives by the governments of several countries in the region.

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Water Pump Sales Set to Soar in India in Coming Years

Water pumps are basically mechanical systems that are used extensively in various industries and households across the world. With the surge in the urban population in many countries, the already existing water infrastructure comprising utility water delivery and wastewater removal and treatment facilities, is experiencing huge pressure. Therefore, the governments of many countries, especially in Asia and Africa, are making huge investments in schemes for irrigation activities and drinking water.

Because of the growing requirement for clean water in urban households, numerous water pump manufacturing companies are augmenting and diversifying their product portfolios. Apart from these factors, the expansion of the construction industry and the increasing water scarcity are also propelling the demand for water pumps across the world. This is driving the progress of the global water pump market. Centrifugal and positive displacement pumps are the two main types of water pumps used around the world.

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This will be a result of the rising urbanization and industrialization and the surging disposable income of the people residing in this region. In APAC, the demand for water pumps will shoot-up in India in the future years. Some of the prominent water pump manufacturing companies across the world are Gardner Denver Inc., The Weir Group PLC., Grundfos Holding A/S, Torishima Pump Mfg. Co., Ebara Corporation, ITT Corporation, KSB Aktiengesellschaft, Kirloskar Brothers Limited, Sulzer Ltd., and Flowserve Corporation.

Hence, it is safe to say that the sales of water pumps will skyrocket all over the world in the coming years, primarily because of the increasing water scarcity and the growing requirement for water in urban and rural households and various industries.

Read more: https://www.psmarketresearch.com/market-analysis/water-pump-market

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