Analysis of Residential Pumps market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
A significant part of the global population is expected to face water scarcity by the end of 2025. There is a growing concern among various nations for efficient use of water, leading to extensive use of energy efficient residential pumps.
Strict environmental regulations regarding water pollution and energy consumption pattern are forcing old industrial plants and commercial buildings to upgrade or shift to new equipment such as residential pumps.
These new treatment facilities and upcoming projects are likely to increase the sales of residential pumps.
In the developed regions the dominant market share of residential pumps is occupied by the top producers whereas in the developing regions there are robust growth opportunities for new market entrants of residential pumps.
Global market for residential pumps market is estimated to witness a single-digit CAGR during the forecast period from 2018 to 2028.
Massive urbanization and industrialization are one of the key factors driving the demand for residential pumps. Water scarcity in several countries is pushing the governments to focus on recycling and reuse of water.
Governmental regulations such as the Safe Drinking Water Act and the Clean Water Act are the two principal regulations driving the growth of the water and wastewater industry in several countries.
Residential pumps manufacturers are focused on developing more energy efficient pumps; this will make the residential pumps more energy efficient leading to reduced power bills.
Corrosion is a significant design restraint for residential pumps operating in warm and highly saline seawater. Depending on the geographical location and climatic conditions residential pumps must be customized, and careful consideration is required for the selection of the materials.
The residential pumps can be customized and used in specific applications like desalination of water. In the area of desalination, the residential pumps are expanding at a remarkable rate. Thus, such diversified applications provide opportunities for new market entrants to establish themselves.
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Increasing Investment in Housing Construction
The construction sector across major countries such as the UAE, Egypt, and South Africa is experiencing considerable growth, which is creating a window of opportunity for centrifugal residential pumps providers to foray into markets in the MEA region. Besides, these countries are witnessing significant investment from both private and public enterprises in the housing construction sector.
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Ongoing infrastructure development across the emerging countries is expected to fuel the growth of the centrifugal residential pumps market over the forecast period. Among emerging countries, India has the highest investment profile, resulting in double-digit growth in its construction industry.
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Water scarcity in several developing nations across the globe is driving the need for wide adoption of energy efficient residential pumps. Strong demand from developing countries such as China and India, is leading to the growth of global residential pumps market.
Latin America and the Africa/Middle East region will also register growth above the world’s average growth. The residential pumps market is highly fragmented in the developing areas especially Asia-Pacific.
Numerous small manufacturers are dominant in the local residential pumps markets and thus the residential pumps market is highly unorganized. The residential pumps market in developed nations is different and highly consolidated. The regional segmentation will be done as North America, Asia Pacific, Europe and Rest of world.
Some of the key participants in the global Residential Pumps market are:
The research report presents a comprehensive assessment of the Residential Pumps market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated residential pumps market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Residential Pumps market segments such as geographies, product type, and configuration.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of Residential Pumps. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The key participants in the global Residential Pumps market are: XYLEM INC., SULZER, FLOWSERVE CORPORATION, and KSB INC.
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