Report : Europe Mechanical Pump Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Stage (Single Stage and Multi Stage), Type (Positive Displacement and Centrifugal Pumps), and Application (Industrial, Commercial, and Residential)
Centrifugal Pumps Segment to Dominate Europe Mechanical Pump Market during 2019–2028
According to a new market research study on “Europe Mechanical Pump Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Stage, Type, and Application,” is expected to reach US$ 16,712.82 million by 2028 from US$ 11,758.91 million in 2021. The market is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The rise in energy demands is the major factor driving the growth of the Europe mechanical pump market. However, cavitation in pumps may hinder the growth of the Europe mechanical pump market. The report provides trends prevailing in the Europe mechanical pump market along with the drivers and restraints pertaining to the market growth.
The COVID-19 outbreak has severely affected Germany, Spain, Italy, the UK, and France in Europe. Businesses have suffered substantially from financial crises as they had to either suspend their operations or reduce their activities considerably to abide by the social distancing norms and lockdown impositions. Europe is one of the main regions, observing a significant rise in infrastructure and construction activities. The demand for water and waste management has risen significantly over the years. Due to the presence of giant manufacturers known for the high adoption of mechanical pumps, the mechanical pump market in Europe is expected to gain back its growth pace during the forecast period. However, disrupted supply chains in several European countries and a fall in demand have been limiting the manufacturing sector's performance, including the pump manufacturing businesses. Business shutdowns and travel bans have been restricting the growth of various sectors in Europe, which led to an economic slump in many European countries in 2020; the effect of this slowdown is likely to persist in 2021 as well.
The Europe mechanical pump market is segmented into the stage, type, application, and country. Based on stage, the mechanical pump market is segmented into single stage and multistage. In 2020, the single stage segment held the largest share Europe mechanical pump market. Based on type, the mechanical pump market is categorized into positive displacement and centrifugal pumps. In 2020, the centrifugal pumps segment held the largest share Europe mechanical pump market. Based on application, the mechanical pump market is segmented into residential, commercial, and industrial. In 2020, the industrial segment held the largest share Europe mechanical pump market. Based on country, the mechanical pump market is segmented into Germany, France, Italy, the UK, Russia, and the rest of Europe. The rest of Europe accounts for the largest market share in 2020.
EBARA CORPORATION; Grundfos Holding A/S; KIRLOSKAR BROTHERS LIMITED; KSB SE & Co. KGaA; PLEUGER INDUSTRIES; Sulzer Ltd; The Weir Group PLC; Tsurumi Manufacturing Co., Ltd.; WILO SE; and Xylem Inc.; are among the leading companies in the Europe mechanical pump market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, EBARA CORPORATION announced that the 900 sq. m. factory in Dresden, Germany is now opened. The factory will support overhaul, service, and support of dry vacuum pumps.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com