According to the recent research report titled ‘Pumps Market Size By Type (Portable, Stationary), By Position (Submersible, Non-submersible), By Driving Force (Engine-Driven, Electrical-Driven), By Technology (Dynamic Pumps [Centrifugal], Positive Displacement [Rotary {Gear, Vane, Screw}, Reciprocating {Diaphragm Piston/Plunger}]), By End-User (Mining, Building & Construction, Oil & Gas, General Industries, Water & Wastewater, Chemicals, Power Generation), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027’ available with MarketStduyReport, global pumps market to record exponential growth through 2027.

The factors driving the global pumps market growth are widespread product demand across various end-user verticals and considerable technological advancements. Focus towards reducing greenhouse emissions, favorable regulatory outlook, and growing demand for sustainable solutions are also stimulating the overall industry outlook.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/1984516/  

With that being said, heat pumps have been gaining traction off late owing to its high efficiency as compared to furnaces. Thus, growing product demand and innovative product launches are facilitating the overall business outlook.

The global pumps industry is segregated on the basis of pump type, by position, by driving force, technology type, end-user landscape, and regional analysis.

As per the pump type, the market is further is split into stationary and portable segments. The stationary segment is expected to garner remarkable revenue by 2027, expanding at a CAGR of 3.3% through the projected timeline.

In terms of position type, the market is divided into submersible and non-submersible. Global pumps market size from the non-submersible segment is calculated to surpass USD 53,450 million in valuation by 2027.

With respect to the driving force, the market is classified into electric-driven and engine-driven. In 2020, the engine-driven segment captured 20% market share and is set to witness a strong CAGR over the analysis timeframe.

Moving on to technology type, the market is categorized into dynamic pumps and positive displacement. The reciprocating segment is poised to showcase a 3.6% CAGR through the assessment period.

From the application perspective, the market is bifurcated into power generation, water & wastewater building & construction, chemicals, oil & gas, mining, general industries, and others. The building & construction segment was valued 10% of the pumps market in 2020 and is predicted to expand steadily over 2021-2027.

Moving on with the regional analysis, the global pumps industry landscape extends to North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. The Latin America market is predicted to expand at a CAGR of 3.5% through the forecast period.

The leading companies operating in global pumps marketplace are Wacker Neuson Group, Roper Pump Company, Cornell Pump Company, Doosan Corp., Baker Hughes Company, Thompson Pump & Manufacturing Co. Inc., Schlumberger Ltd., Generac Holdings Inc., Ingersoll Rand Inc., Xylem Inc., MultiQuip Inc., Sulzer Ltd., KSB SE & Co. KGaA, Grundfos, Atlas Copco, The Flowserve Corporation, Gorman Rupp Co., and Ebara Corporation.