Axial Flow Pump Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Axial Flow Pump Market - Snapshot
The axial flow pumps are widely used in circulating water pumps, irrigation, sewage treatments, and chemical manufacturing plants. In addition, they are used in dewatering applications and circulating water pumps. Axil flow pumps are used in power plants in areas such as evaporators and sewage digesters, and also in the transport of power plant fluids. The application of axil flow pumps in end-use industries such as wastewater industries, oil and gas sector, and others has propelled the growth of axial flow pump market.
Rapid urbanization has given rise to the need of housing communities. Furthermore, these communities require proper sewage disposal systems which increases the demand for axial flow pumps. In addition, these pumps are also used in channelizing the rain water. The demand for axial flow pumps in wastewater industries has increased owing to its characteristics such as controlled flow rate, functional capacity, and ease in maintenance and operation. All these factors are boosting the growth of axial flow pump market.
The demand for energy fuels has also increased rapidly due to industrialization and technological advancements. Furthermore, various end-use industries such as oil and gas, power, water treatment plants, and others use axial flow pumps in various applications. The growing trend of crude oil usage for transportation and onshore and offshore oil and gas exploration have proved to be the key driver in accelerating the growth of the axial flow pump market.
Water treatment and wastewater management are gaining popularity in various countries such as the U.S, India, and China. Furthermore the usage of axial flow pumps is projected to increase in chemical industries due its properties such as inflammability, viscosity, and abrasive fluids. The aforementioned factors are boosting the growth of axial flow pump market.
To keep up with the latest trends of axial flow pump market, the key players are engaged in extensive R&D activities. In addition, they are indulging into innovating new techniques and methods to smoothen the production and manufacturing process. The players are addressing the consumer demands by focusing on their needs and requirements. The new opportunities in the axial flow pump market are attracting players to invest in mergers and acquisitions, joint ventures, and partnerships to maintain their market dominance.
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.
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:
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.
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.
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