The rise in industrialization and urbanization with the rise in demand for high irrigation facilities from the rural sector in emerging countries brings growth in the end suction pump market. According to Future Market Research, the end suction pump market is anticipated to expand at a CAGR of 4.93% between 2023 and 2033, totaling around US$ 6.8 billion by 2033.
Global end suction pump market registered year-on-year growth of 3.5% in 2021 to a total of 4.3 million units. Demand for close coupled pumps grew by 3.6% to a total of 3.6 million units by the end of 2021. Steered by surging applications in commercial and industrial sectors alike, the sales of end suction pumps captured 3% of the global pumps market in 2021.
What are the Prominent Drivers of the End Suction Pump Market?
Technological Advancements Drive the End Suction Pump Market Sales
The domestic segment of the end suction pumps market is said to be considerably expanding in recent years attributable to the application of modern technology in cases for manufacturing and monitoring operations. Further, electronics and computers are estimated to have infiltration in every aspect of our lives, as variable speed drives, SCADA systems, and condition monitoring equipment have necessarily entered the pumps industry.
In-line pumping units with integral VSDs are now dominating the domestic market where pump selection software has sped up its process of selections corresponding to the expansion in the marketing opportunities. Moreover, energy costs usually overcome other operational costs where several system improvements have frequently resulted in eloquent cost savings. Enaction of appropriate legislation is nearly impossible.
South Korea and China have been considered for setting up legislation to improve their efficiency even though improvements in pump efficiency relatively earn small returns for large investments. European Commission has targeted its goal of improving the efficiency of water pumps as part of its Energy Using Products Directive which substantially includes methods for the identification and elimination of poor performers.
How is the United States Expanding its End Suction Pump Market?
Development of Manufacturing and Commercial Sector Helps in Expanding the United States Market
North America is predicted to remain one of the dominant growing markets during the forecast period with a growth rate at a CAGR of 28.9%. Future Market Insights anticipates that the United States is expected to be a notable market in North America with a market share of 48.9% and reaching a US$ 992.4 million valuation.
United States’ highly developed manufacturing & commercial sector is one of the main factors supporting regional growth. Aside from this, the growing overall population, and increasing expenditures for the construction sector in the United States might drive growth in the market.
End Suction Pumps Market Historical Analysis (2018 To 2022) Vs. Forecast Outlook (2023 To 2033)
The global end suction pump market grew at a CAGR of 3.44% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 4.93% between 2023 and 2033.
Rapid industrialization has increased the demand for various production-related equipment. Driven by this, the end suction pumps market is estimated to rise at 4.6% CAGR between 2021 and 2031 in comparison to the 5.8% CAGR registered from 2016 to 2020.
Increasing construction of commercial spaces, including hotels, retail spaces, offices, and institutions have boosted the demand for end suction pumps because of their utility in water dosing, HVAC gas suction, and fire suppression applications. Moreover, continued demand for new installations is expected to aid the market growth over the coming years.
Leading manufacturing companies are focusing on expanding their sales and distribution footprint in untapped emerging markets based in South Asia, Latin America, and Africa to improve clientele base and key accounts management.
Some companies are collaborating directly with end users for turnkey projects via proposal bids. Additionally, key manufacturers are also looking forward to developing customer-specific custom-made products according to their needs backed with aftersales service.
East Asia & South Asia Pacific are identified as the high-potential market for end suction pumps owing to high demand in countries such as China, India, ASEAN, and others, which are experiencing notable growth in industrial & commercial construction sectors.
How is the United States Expanding its End Suction Pump Market?
Development of Manufacturing and Commercial Sector Helps in Expanding the United States Market
North America is predicted to remain one of the dominant growing markets during the forecast period with a growth rate at a CAGR of 28.9%. Future Market Insights anticipates that the United States is expected to be a notable market in North America with a market share of 48.9% and reaching a US$ 992.4 million valuation.
United States’ highly developed manufacturing & commercial sector is one of the main factors supporting regional growth. Aside from this, the growing overall population, and increasing expenditures for the construction sector in the United States might drive growth in the market.
How Germany is Estimated to Raise the Market of End Suction Pumps?
High Focus on Innovation in Manufacturing Raises the Market
Germany is considered to be a leading country in Western Europe with a growth rate of 14.2% in Europe market in terms of consumption of end suction pumps. This market has been chiefly driven by the industrial sector where it is expected to account for over 20% share in Germany for end suction pump sales within Europe.
The nation is home to tier-1 OEMs and is established as a leading production hub, of which, more than 65% of revenue sales have been sourced out of export markets. A high focus on innovation in manufacturing and other industries might create a conducive environment for sales of end suction pumps in Germany.
Important Developments of the Key Players in the Market
In March 2023, Xylem Inc. with the HART variant, added a new component in the comprehensive IQ Sensor Net measuring system where the standardized DIQ/S 281-HART interface was used particularly in projects where data transmission via HART protocol was required for single parameter measuring points.
In March 2023, Xylem Inc. introduced PC software for the spectrophotometers photoLab 7100 VIS and photoLab 7600 UV-VIS with a new face, after the company provided the photoLab color Data spectral.
Source: Future Market Insights
