According to the research report titled ‘Europe Pumps Market Forecast 2027 By Driving Force, By Product, By Position, By Technology, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe pumps market is projected to witness substantial growth over the forecast timeframe 2021-2027.
 

Widespread application of pumps across several industries such as oil and food sectors is primarily driving the growth of pumps industry in Europe. Besides, steady rise in rebuilding and restoration operations is enhancing the market demand.
 

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Moreover, advancements in air-cooled engines & pump technology owing to advent of new pump technologies, as well as modification of air-cooled engines are likely to enhance the market outlook, claims the study.
 

Elaborating on COVID-19 impact, the pandemic rendered a negative impact on the construction, oil & gas, mining, and other industries across Europe, leading to reduced production, raw material shortages, and financial problems.
 

For the uninitiated, pumps are of two kinds: portable and stationary. They have widespread application such as in buildings, construction sites, water conservancies, bridges, & tunnels. Stationary concrete pipes can mostly be found in these sites. They are used to pour concrete, commonly for construction of swimming pools and sidewalks. Meanwhile, portable pump is chief equipment for firefighters as they are lightweight & dependable.
 

Considering the application scope, Europe pumps market size from oil & gas segment is slated to grow considerably in the upcoming years, mainly due to expansion of R&D operations in this space. Moreover, IMO 2020 standard necessitates major refiners to modernize their existing infrastructure to minimize sulphur fuels.
 

On the other hand, extensive usage of pumps in structural & underground engineering is likely to boost the share of building & construction segment, registering a steady CAGR of 2% throughout the analysis period.
 

From a regional perspective, Germany is expected to lead the regional market growth due to strong presence of major semiconductor & fine chemical manufacturers.
 

With respect to competitive landscape, KSB SE & Co. KGaA, Kirloskar Brothers Ltd., Wacker Neuson SE, Generac Holdings Inc., Magnum Pumps, MultiQuip Inc., Ebara Corp., Doosan Corp., Grundfos, Roper Pump Co., Sulzer Ltd., and Atlas Copco are among the major companies influencing the Europe pumps indsutry dynamics.