Dewatering Pumps Market With The CAGR Of 6.0% By Value Over The Forecast Period 2022-2028 | Future Market Insights

According to the report by Future Market Insights (FMI), the global dewatering pumps market is expected to witness a CAGR of 5.3% from 2022 to 2028. In 2017, the market was worth US$ 5,498.6M and is expected to rise to a valuation of US$ 9,510.2M by the end of 2028.

Leading market players are shifting their production bases to the pacific to capitalize on economies of scale. The global market is, as is customary, trending toward consolidation. Several mergers have occurred recently; the same trend is expected to continue in the coming years, with profitability remaining the primary driving force behind these acquisitions.

Long-term tie-ups with EPC (Engineering Procurement and Construction) companies are expected to provide high and stable sales to international manufacturers of dewatering pumps. Most sales of small and medium capacity pumps take place through distributors and retailers, which generally hold a multi-branded & wide variety of products on their shelves.

The global dewatering pumps market is identified as a fairly concentrated market with the organized sector having a share of around 49% of the global market followed by Tier 2 and small-scale manufacturers. The principal aim of the manufacturers has been the expansion of market footprint via the extension of their product portfolio and strengthening of the sales and distribution network.

Providing integrated offerings through a diverse range of products and developing strong distribution and aftersales service network at regional and local levels can provide significant opportunities for an order to gain a competitive advantage, a strong focus on life-cycle cost analysis, including reducing operating costs through energy-efficient solutions, is highly required for product differentiation.

Burgeoning Exploration Activities for New Sources of Water to Trigger High Demand
Governments of emerging economies in the Asia Pacific and MEA, particularly in countries such as South Africa, Morocco, and the UAE, are focusing on improving drinking water facilities in urban as well as rural areas. Also, the exploration of new water sources is expected to increase sales of pumps with enhanced capacity and efficiency for agricultural and domestic applications. Desalinization projects are also expected to contribute to the adoption of pumps, as most parts of the globe still lack the basic facility of running water.

An estimated 60% of the world is still without running water. ASEAN region is witnessing an increase in water supply and sanitation projects by governments, which is likely to boost sales of centrifugal pumps for domestic and agricultural applications. It has been estimated that only 50% of the global population has access to drinking water from a piped connection providing running water in their homes or compounds. As per the analyst, the demand for dewatering pumps across the globe, especially in ASEAN countries will increase owing to these reasons.

Low Priced China-based Pumps to Act as Hindrance to Market Growth
The presence of numerous Chinese players who are offering low-priced pumps acts as a restraint to most regional and global players offering pumps. The surging price pressure from these players is influencing the main suppliers to offer high-quality, reliable, efficient, and technologically-advanced pumps at competitive prices. However, the price-sensitive nature of the market is a restraining factor on the overall revenue growth potential of the global pump market.

The emergence of China as a major producer of low-cost pumps has disrupted the market to a point. To overcome this challenge, international pump vendors need to differentiate their products through various additional services and the integration of advanced technologies.

Competitive Landscape
Over the past few years, an increase in the number of acquisitions and expansion activities has been witnessed to improve the supply of industrial components. Several key players are also focusing on improving the efficiency of pumps. For Instance:

• In May 2021, the KSB Group launched the latest generation of its time-tested submersible grey water pumps-the AmaDrainer 3 type series, which is a vertical single-stage fully floodable submersible motor pump.
• In January 2018, Sulzer acquired California-based JWC Environmental LLC, which is into critical solids reduction and removal products manufacturing.

These insights are based on a report on Dewatering Pumps Market by Future Market Insights