North and Latin America Water Pumps Market Expected to Account for US $13.4 Bn During 2016-2024

North America & Latin America’s Water Pump Revenues to Reach US$ 13.4 Bn During 2016-2024

Posted: Tuesday, November 07, 2017 at 11:12 AM CST

New York, NY -- (SBWire) -- 11/07/2017 --The demand for water pumps across North America and Latin America continues to grow in parallel with the growth in the region's population. More households emerging in countries such as the US, Canada, Brazil or Mexico will certainly require water pumps for domestic purposes. Concurrently, agricultural, administrative and industrial sector in these regions will also adopt such pumps to keep up with the surging demands of consumers. Water pumps being deployed in the residential sector of North America and Latin America are projected to grow as municipalities & county authorities from this region will strive to improve their drinking water facilitation and upgrade the wastewater treatment plants.

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Nevertheless, a recent study developed by Persistence Market Research projects that revenues garnered from sales of water pumps across Latin America and North America will soar at a moderate CAGR of 4% over an eight-year forecast period. After amassing an estimated US$ 9,422.9 million revenues in 2016, the water pumps market in North America and Latin America is anticipated to reach a valuation of US$ 13,412 .8 million by the end of 2024.

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In the report, titled "Water Pumps Market: North & Latin America Industry Analysis and Forecast, 2016-2024," Persistence Market Research predicts that more than 90% of water pump revenues in Latin America and North America will be accounted by sales of centrifugal pumps. While over 936 thousand units of positive displacement pumps are estimated to be sold in the Americas during the forecast period, sales of centrifugal pumps will be raking in revenues worth over US$ 12 billion by the end of 2024.

In 2016, centrifugal pumps worth nearly US$ 3 billion were estimated to be consumed by wastewater and water treatment plants across North America and Latin America. Oil and gas industries in this region have been predicted to have consumed over 200 thousand units of positive displacement pumps in 2016.

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About Persistence Market Research
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

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