Axial Flow Pump Market: Overview
Axial pumps, also known as propeller pumps, are extensively used for circulating water in power plants, chemical industries and also in dewatering applications. They are also used in managing sewage from municipal, commercial and industrial operations. With a rise in demand from industries dealing in water, waste water, chemicals, petroleum and food and beverages, the global axial flow pump market is predicted to grow at a steady Compound Annual Growth Rate.
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Axial Flow Pump Market: Notable Developments
2017: Sulzer, a leading player in the global axial flow pump market, took its expertise in pumping solutions to a new pedestal altogether with the aid of its Internet of things based wireless condition system, Sulzer Sense. It allows remote monitoring of important parameters 24x7 making sites safer and operations efficient. This widens the playing field for consumers and creates more competition in the market for other players who should are now looking at a classic example of digital innovation in the field.
Global Axial Flow Pump market is fairly fragmented with a decent number of players foraying its landscape. Some of the most prominent names are that of Xylem Inc, Grundos Holding A/S, Ebara Corporation, Sulxer AG, Pentair Plc and ITT Inc. Most top players are known for an expansive product folio, robust distribution network and a healthy level of operational integration.
Strategies to hold a firm grasp on the market share involve strategic acquisitions of small as well as medium sized innovative companies (mainly by international names). Manufacturers focus on constantly upgrading themselves for catering to an vast applications market by investing in product improvement and improving sales and service networks.
Axial Flow Pump Market: Key Trends and Drivers
- As people are getting more environmentally conscious and governments are ready to invest in water and waste water treatment, there is a rise in demand expected for axial flow pump market.
- Rising demand for energy fuel is another reason why the global axial flow pump market is looking at an upward growth chart. There is an increase in demand for crude oil in the domestic transportation and overseas logistics that is set to boost exploration of fuel both onshore and offshore. This again is a good sign for global axial flow pump market considering they provide utility functions as well as they are good at handling subsea pressures
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Axial Flow Pump Market: Geographical Analysis
The North American Axial Flow Pump Market will grow at a steady rate as per the TMR forecast. It would mainly be driven by a robust investment environment, esp. in the water treatment facilities. Unites States of America is bound to have a major slice of the global axial flow pump market pie with major exploration activities on going in both onshore and offshore formats mainly in the unconventional oil and gas sector. This is driving the demand slope for axial flow pumps higher.
Another area worth keeping eyes set on is the Asia Pacific region (APAC) which held a large chunk in 2018 and is expected to demonstrate further potential over years to come. While being lucrative to manufacturers for reasons of market share, it is also marked by cheap labor and increasing support from local governments. China and India, in particular, are shifting the production industry towards themselves quite successfully.
Other reasons for growth of the Asia Pacific region include technological developments and innovations that are greatly empowering the foothold for industrialization. It is believed it would help drive the demand for Axial Flow Pump Market in the forecast period.
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