According to the market analysis 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 expected to amass a valuation of over USD 16 billion by 2027.

Rising rebuilding and restoration projects, advancement in technologies, and mounting R&D activities are some of the key factors driving the growth of Europe pumps market.

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The COVID-19 outbreak had a negative impact on Europe’s oil and gas, construction, mining, and other industries. In addition, raw material shortages, financial crisis, and production interruption is expected to affect the overall industry outlook.

Based on the product landscape, the market is fragmented into portable and stationary segments. Among these, the stationary segment accounted for 82% of the market share in 2020 and is expected to show consistent growth through the forecast period, due to its extensive use for a wide range of purposes and pouring concrete in the construction of infrastructures.

Meanwhile, Europe pumps market share from the portable segment is expected to register stellar growth during the forecast period. Portable pumps are critical equipment for firemen, especially after technological change in air-cooled engines and pumps. These pumps are portable and extremely reliable, thus boosting the segmental share.

Moving on to application terrain, the oil and gas segment is estimated to have a favorable impact on the overall market over the analysis period, ascribed to the various refineries undergoing renovations.

Meanwhile, the building & construction segment is anticipated to expand at a 2% CAGR through 2027, on account of the growing number of restoration and rebuilding projects in which has augmented the demand for pumps for dewatering and pressure boosting.

Geographically, Germany is expected to retain its lead in terms of revenue share over the forecast timeline, owing to the high concentration of many semiconductors manufacturers along with fine chemical producers, and surging investments in R&D activities to create advanced equipment for specialized uses in power generation.

The leading companies influencing the Europe pumps market are Gorman Rupp Company, KSB SE & Co. KGaA, Kirloskar Brothers Limited, Wacker Neuson SE, Generac Holdings Inc., Magnum Pumps, Multiquip Inc., Doosan Corporation, Sulzer Ltd, Atlas Copco, Ebara Corporation, Grundfos, Roper Pump Company, Schlumberger Limited, Baker Hughes Company, Flowserve Corporation, and Gardner Denver, Inc.