San Francisco, CA -- (SBWIRE) -- 08/14/2019 -- Axial Flow Pump Market - Overview
The axial flow pump market is predicted to rise steadily in the forthcoming years. Axial flow pumps are commonly found in circulating water pumps or for flood dewatering applications. Typically, axial flow pumps are used where large quantities of water need to be transported for short distances. Transport of fluids in power plants, evaporators, and sewage digesters are some areas where axial flow pump is used in power plants. Collectively, this fuels growth of axial flow pump market.
Domestic water and wastewater, petroleum, chemical, and food and processing are key end users of axial flow pumps for water and fluid management.
TMR Research (TMR) in one of its upcoming research publications throws light on growth trends and opportunities likely to come to the fore in the forecast period between 2018 and 2028.
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Axial Flow Pump Market: Competitive Landscape
On the competitive outlook, key players in the axial flow pump market are entering into strategic alliances for growth. Top players that operate globally are striving for M&As with small and regional players to expand their product portfolio and geographical presence.
Besides this, efforts to expand and improve service networks and after sales service is another growth strategy of players in the axial flow pump market.
Further, regional companies are entering into strategic partnerships with large global players to expand their product line with international standards. Large companies, in turn, gain benefit from local outreach of regional players. This translates into a win-win situation for both the players.
Key players operating in the axial flow pump market include:
Weir Group plc
Grundfos Holding A/S
KSB SE & Co. KGaA
Leo Group Co. Ltd
Axial Flow Pump Market: Key Trends
Axial flow pumps find wide use for channeling of rain water in housing communities, thus influencing growth of axial flow pumps= market. Axial flow pumps also find use in wastewater industries due to their functional capacity, maintenance and operation, and controlled flow rate of water.
In urban areas of emerging economies, rapid development of housing communities that require proper channeling of rain water and proper sewage disposal system are some key factors stoking demand of axial flow pumps. The axial flow pumps= market gains, in turn.
Further, considerable distance between freshwater sources and residential areas in urban areas necessitates municipal authorities to invest heavily in pumping solutions. This, in turn, fuels demand for axial flow pumps for civic use.
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Oil & gas sector is likely to emerge as a key end user for axial flow pumps, thereby contributing significant revenue to the axial flow pumps= market. Rapidly increasing demand of crude oil for transportation, energy, supply and logistics leading to amplified onshore and offshore oil and gas exploration is serving to boost demand for axial flow pumps.
Apart from this, the chemical sector is predicted to display notable growth in the axial flow pump market due to their capability to withstand flammable, viscous, and abrasive fluids.
Axial Flow Pump Market: Regional Outlook
North America is a key axial flow pump market due to substantial investments for water treatment facilities. Besides this, significant investments for exploration of unconventional both onshore and offshore oil reserves is stocking demand for axial flow pumps in the region.
Europe holds significant share in the axial flow pump market. High spending in water and wastewater sector account for continued demand for axial flow pumps in the region.