Global Dewatering Pumps Market is Expected to Witness a CAGR of 5.2% Between 2018-2028

Economically developed regions are witnessing decent growth in dewatering pumps market, attributed to opportunities in existing commercial and industrial processes. Whereas, emerging economic regional markets are expected to witness robust growth in demand from the upcoming infrastructure projects across municipal construction and mining.

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Providing integrated offerings through diverse range of products and developing strong distribution and aftersales service network at regional and local level can provide significant opportunities for growth. In order to gain competitive advantage, strong focus on life-cycle costs analysis, including reducing operating costs through energy-efficient solutions, is highly required for product differentiation.

According to the report by Future Market Insights (FMI), the global dewatering pumps market is expected to witness a CAGR of 5.2% from 2018 to 2028. In 2017, the market was worth US$ 5,498.6 Mn and is expected to rise to a valuation of US$ 9,510.2 Mn by the end of 2028.

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Burgeoning Exploration Activities for New Sources of Water to Trigger High Demand

Governments of emerging economies in Asia Pacific and MEA, particularly in countries such as South Africa, Morocco and the UAE, are focusing on improving drinking water facilities in urban as well as rural areas. Also, exploration of new water sources is expected to increase sales of pumps with enhanced capacity and efficiency for agricultural and domestic applications. Desalinization projects are also expected to contribute to adoption of pumps, as most parts of the globe still lack the basic facility of running water.

An estimated 60% of the world is still without running water. ASEAN region is witnessing increase in water supply and sanitation projects by governments, which is likely to boost sales of centrifugal pumps for domestic and agricultural applications. It has been estimated that only 50% of the global population has access to drinking water from a piped connection providing running water in their homes or compounds. As per the analyst, the demand for dewatering pumps across the globe, especially in ASEAN countries will increase owing to these reasons.

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