Centrifugal Pumps Segment to Dominate South America Mechanical Pump Market during 2019–2028

According to a new market research study on “South America Mechanical Pump Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Stage, Type, and Application,” is expected to reach US$ 2,341.98 million by 2028 from US$ 1,589.96 million in 2021. The market is estimated to grow at a CAGR of 5.7% from 2021 to 2028. Increasing mining activities is the major factor driving the growth of the South America mechanical pump market. However, cavitation in pumps may hinder the growth of the South America mechanical pump market. The report provides trends prevailing in the South America mechanical pump market along with the drivers and restraints pertaining to the market growth.

In South America, Brazil has witnessed the highest number of COVID-19 cases, followed by Ecuador, Peru, Chile, and Argentina. The governments in SAM countries are imposing travel restrictions, lockdowns, and trade bans to contain the infection spread. The SARS-CoV-2 pandemic has severely affected the mechanical pump market growth in this region. However, recent relaxations in lockdown and the arrangement of large-scale vaccination drives would help the economies bounce back, allowing industries to regain their operations in the next few quarters of 2021.

The South America 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 South America 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 South America 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 South America mechanical pump market. Based on country, the mechanical pump market is segmented into Brazil, Argentina, and the rest of South America. Brazil accounts for the largest market share in 2020.

EBARA CORPORATION; Grundfos Holding A/S; KSB SE & Co. KGaA; PLEUGER INDUSTRIES; Sulzer Ltd; The Weir Group PLC; and Xylem Inc.; are among the leading companies in the South America 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 2020, Xylem launches a monitoring service that delivers data-driven insights for pump stations and water assets. The service will make it easy to connect with assets and monitor them in real-time, and enables smart decision-making based on real-time data and analysis.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com