Global Axial Flow Pump Market Poised for Growth, Expected to Reach $38.55 Billion by 2027
Axial Flow Pump Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, GREATER LONDON, UK, October 31, 2023 /EINPresswire.com/ -- The global axial flow pump market is projected to grow from $31.36 billion in 2022 to $32.58 billion in 2023, at a CAGR of 3.89%. Despite challenges from the Russia-Ukraine conflict and the pandemic, the market is anticipated to reach $38.55 billion by 2027, driven by the increasing demand for freshwater, a crucial resource efficiently managed by axial flow pumps.
Segments:
• Product Type: Horizontal, Vertical
• Application: Water Treatment, Irrigation, Evaporators, Other Applications
• End-User: Chemical, Municipal, Pulp And Paper, Agriculture, Food And Beverage, Other End-Users
Rising Demand for Freshwater Drives Market Growth
The rising demand for freshwater is a significant factor contributing to the growth of the axial flow pump market, facilitating the movement of large water volumes for various applications. A Guardian report forecasts a 40% shortfall in freshwater supply by 2030, emphasizing the need for effective water management solutions.
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Key Players and Market Trends
Key players such as Ebara Corporation and Grundfos Holding A/S focus on product innovation to enhance corrosion resistance and durability. Weir Minerals' Lewis VL axial flow pump, designed for high-temperature chemical processing, exemplifies the industry's drive for innovation.
In a strategic move, Baker Hughes acquired AccessESP LLC in 2022, strengthening its position in the oil field services sector. AccessESP LLC's expertise in manufacturing axial flow pumps complements Baker Hughes' portfolio.
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific led the axial flow pump market in 2022 and is expected to be the fastest-growing region. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Axial Flow Pump Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Axial Flow Pump Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on axial flow pump market size, axial flow pumps market drivers and trends, axial flow pump market major players, competitors' revenues, market positioning, and axial flow pump market growth across geographies. The axial flow pump market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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