New York, NY -- (SBWIRE) -- 01/26/2016 -- Persistence Market Research has added a new report based on the global water pumps market to its research report database. The report, titled "Water Pump Market - Global Industry Analysis and Forecast to 2020", provides insights about market shares and sizes of various segments, threats and opportunities in the market, and gives a forecast for a period ranging between 2014 to 2020.

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Water pumps find applications for a variety of purposes in numerous industries as well as households. Rising levels of urbanization and industrialization in developing economies and the rising use of water pumps in industries are the chief factors contributing to the huge demand for water pumps on a global front.

The report categorizes the water pump market based on four major end user applications for the market – industrial, municipal, agriculture and domestic. The segment of industrial water pumps currently holds the major shares in the global water pumps market. During the forecast period however, the application segment industrial water pumps is expected to grow at the fastest pace owing to the high rates of industrialization in Asia Pacific countries. The oil and gas industry is the major end user of water pumps in this region.

By end user application, industrial water pumps held the largest market share in 2013 in the water pumps market. Segment of Industrial water pumps is also growing at a swift rate due to increasing industrialization in Asia Pacific countries where oil and gas industry are the major end-users of water pumps.

Technology-wise, the report categorizes the market in two major categories – centrifugal and positive displacement. Centrifugal water pumps are prominently used in fire protection systems, buildings, wells and for circulation of hot water in industries, whereas positive displacement water pumps are used in hydraulic systems. Amongst these, the segment of centrifugal water pumps currently holds majority of market shares, and is also expected to achieve further growth at a steady pace due to ripe demands from municipalities, and the oil and gas industries.

The report further classifies the segment of positive displacement water pumps as rotary, reciprocating and metering pumps.

Geography-wise, the region of Asia-Pacific is the largest market for the global water pumps market, market shares of which are followed by market shares of water pump market in Europe and North America respectively. The report states that water pump market in the Asia Pacific region could observe the fastest growth in the forecast period, owing to the increasing numbers of infrastructure development projects in developing economies such as China and India.

Increasing numbers of water waste treatment and water recycling plants, especially in countries such as China and India, are fueling the demand for water pumps in the Asia Pacific region. Technological developments and introduction of products such as intelligent pump systems are making water pump systems cost effective and affordable for the end users. This, in turn, is driving the global water pump market.

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However, rising command of unorganized, regional market players in Asia Pacific, especially the agriculture domain, is a major threat for bigger companies in the water pump market. Poor farmers in developing countries are price-sensitive and thus prefer low-priced products instead of branded ones.

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