Asia Pacific Mechanical Pump Market
Market Introduction
The Asia Pacific mechanical pump market is sub segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The region holds enormous growth potential for various businesses due to the presence of fast-growing countries such as China and India as well as developed countries such as Japan and Australia. The region has vast manufacturing sector, including industries such as chemicals, food & beverages, automobiles, textile, and healthcare. Further, government policies such as Make in India and Made in China 2025 promote the establishment of manufacturing plants to make the respective economies self-sufficient and capable of exporting surplus goods. Asia Pacific represents one of the leading markets for mechanical pump. The extensive use in water and wastewater treatment plants is the key factor driving market expansion. These pumps are small in size and work well with high-viscosity fluids; moreover, they can handle large differential pressure. Apart from this, the upgrading and renovation of oil and gas exploration facilities in the region are likely to boost the prospects of the mechanical pump market. Furthermore, growing concerns about the region's limited water supplies have spurred governments, particularly China and India, to upgrade wastewater treatment and recycling processes. The strong presence of automotive sector along with the rising deployment of passenger cars and commercial vehicles are propelling the growth of the mechanical pump market in Asia Pacific. Developments in the economies of China and India and increase in disposable income of population in countries such as South Korea and Japan have accelerated the growth of the automotive sector in these countries. India produced 3,394,446 vehicles in 2020, while China was the largest vehicle producing country across the world with the production of 25,225,242 units of passenger cars and commercial vehicles in the same year. Moreover, the rising population growth rate, coupled with increasing industrialization and urbanization, is projected to boost the demand for energy in Asia Pacific in the coming years. Energy needs of several Asia Pacific countries are majorly sufficed by coal-powered power plants; however, to curtail the carbon emission levels, governments in the region are increasingly deploying natural gas-powered power plant and nuclear power plants.
Asia Pacific has Strategic insights for the Asia Pacific Mechanical Pump provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Asia Pacific Mechanical Pump refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
several developing countries, a high industrial presence, and a positive economic outlook. The increasing urbanization and industrialization in these countries are presenting ample growth opportunities to the mechanical pump market players. The rising use of enhanced technologies, growing adoption of the Industrial Internet of Things (IIoT) across various industrial facilities, surge in safety mandates in developing countries, such as India, Japan, and China, are propelling the adoption of mechanical pumps in the region. The COVID-19 outbreak has halted the entire manufacturing sector, causing major supply chain disruptions. As a result, the shortage of raw materials required to manufacture mechanical pumps is expected to worsen, as the key raw material suppliers are in China and Taiwan. The trade war between the US and China has hampered the trade of raw materials and the demand for mechanical pumps. Further, the scarcity of raw materials has increased their prices, resulting in high mechanical pump manufacturing costs. However, the Asia Pacific market need for mechanical pumps has been driven by the rising demand for power generation in growing economies like India, Japan, and Indonesia. The increased usage of the Internet of Things, which allows mechanical pumps to monitor, analyze, and boost productivity, will positively impact market growth.
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Report Attribute
Details
Market size in 2021
US$ 19,309.80 Million
Market Size by 2028
US$ 29,820.20 Million
Global CAGR (2021 - 2028)
6.4%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Stage
By Type
By Application
Regions and Countries Covered
Asia-Pacific
Market leaders and key company profiles
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Market Overview and Dynamics
The mechanical pump market in Asia Pacific is expected to grow from US$ 19,309.80 million in 2021 to US$ 29,820.20 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028. Adoption of modern farming practices; conventional farming methods are likely to fall insufficient to meet the consequently rising food demands as environmental or climatic uncertainties influence the outcomes of these methods. Modern farming practices such as vertical farming are capable of producing more yield in smaller spaces, along with using 90% less water than conventional farming practices. Moreover, growing mass awareness about the long-term effects of pesticides used in conventional farming practices has propelled the demand for organic food produce. Vertical farming uses a controlled environment, and it can be employed to grow fruits, vegetables, and species organically. Mechanical pump are widely used for circulating the water in vertical farming. Thus, the increasing adoption of vertical farming practices owing to the surging demand for organic food is anticipated to bolster the Asia Pacific mechanical pump market in the coming years.Key Market Segments
Based on stage, the mechanical pump market is segmented into single stage and multistage. In 2020, the single stage segment held the largest share Asia Pacific 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 Asia Pacific 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 Asia Pacific mechanical pump market.Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the mechanical pump market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.; among others.Reasons to buy report
ASIA PACIFIC MECHANICAL PUMP MARKET SEGMENTATION
By Stage
By Type
By
Application
By Country
Company Profiles
The Asia Pacific Mechanical Pump Market is valued at US$ 19,309.80 Million in 2021, it is projected to reach US$ 29,820.20 Million by 2028.
As per our report Asia Pacific Mechanical Pump Market, the market size is valued at US$ 19,309.80 Million in 2021, projecting it to reach US$ 29,820.20 Million by 2028. This translates to a CAGR of approximately 6.4% during the forecast period.
The Asia Pacific Mechanical Pump Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Mechanical Pump Market report:
The Asia Pacific Mechanical Pump Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Mechanical Pump Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Mechanical Pump Market value chain can benefit from the information contained in a comprehensive market report.
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