Exponential growth of water and waste-water industry drive the growth of Global Axial Flow Pump Market.
According to TechSci Research report, “Global Axial Flow Pump Market By Type (Miniwatt, High Power) By Industry (Wastewater & Water, Oil & Gas, Petrochemical & Chemical, Food & Beverages, Mining, Others) By Application (Irrigation, Land Drainage, Flood Control, Recirculation, Water Treatment, Others) By Material (Aluminium, Cast Iron, Brass, Bronze, Ceramics, Nickel-Alloy) By Region, Competition Forecast & Opportunities, 2026”, the Global Axial Flow Pump is expected to grow at a promising rate during the forecast period. The market experienced an impressive growth in the historical years, and it is expected to grow at anticipated CAGR in the next five years, 2022-2026 too. Due to increased oil field activities and rising investments in wastewater treatment plants the market is anticipated for the growth. Moreover, the market might have to over come the difficulties in high pressure operations and handling viscous fluids.
Due to the onset of COVID-19 and imposition of complete lockdown to mitigate the coronavirus, there has been shutdown of many manufacturing units and disruption in the supply chain resulting in interrupted production and lesser supply of the implants all around the globe. Also, the economy has been adversely affected in many countries resulting in the hinderance to the growth of the Axial Flow Pump market. However, after relief from lockdown market is again going to pick up pace to grow significantly.
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Global axial flow pump market is segmented by type, industry, application, material, and regional distribution. Based on industry the market is further categorized into wastewater & water, oil & gas, petrochemical & chemical, food & beverages, mining, and others. Food & beverage segment is expected to continue its dominance over the market in the forecast years, owing its impressive growth by the investments of manufacturers of food and beverages products. Recent regulations by Department of Energy (DOE) and the Food & Drug Administration (FDA) to implant new and technologically sound pumps along with other machinery is attributing to the anticipated growth of the market in next five years.
Some of the key players in the market are Xylem Inc., Grundfos, Sulzer Ltd., KSB SE & Co. KGaA, Pentair plc., Weir Group PLC, Wilo SE, Leo Group Co., Ltd., ETEC S.A., ITT Inc., among others. The companies are focussing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“Crude Oil is in demand for the facilitation of worldwide logistics, production units and transports implemented domestically. Looking at the petroleum sector the market is sure to grow for the energy fuel demands in developing countries like China, India, South Korea, and Brazil. South America, and Asia Pacific region are a promising landscape for the future of this market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Axial Flow Pump Market By Type (Miniwatt, High Power) By Industry (Wastewater & Water, Oil & Gas, Petrochemical & Chemical, Food & Beverages, Mining, Others) By Application (Irrigation, Land Drainage, Flood Control, Recirculation, Water Treatment, Others) By Material (Aluminium, Cast Iron, Brass, Bronze, Ceramics, Nickel-Alloy) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Axial Flow Pump and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Axial Flow Pump.
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