North America Mechanical Pump Market

Market Introduction

The US, Canada, and Mexico are major contributors to the North America mechanical pump market. Mechanical pump use more motor torque on the forward (power) stroke and significantly less on the back stroke, which makes them among the most energy-efficient pumps on the market. Mechanical pump are among the most popular, reliable, and versatile pumps due to their low starting prices, low repair and maintenance expenses, and simple installation process, as well as their wide application range for pumping fluids with varying viscosities. As it is a highly fragmented market, price becomes a major competing factor for pump providers. Low-cost imports from companies in Asia Pacific further exacerbate competition in the mechanical pump market in North America.  The increasing focus on advancements in the water and wastewater industry in the US and Canada is one of the main factors driving the mechanical pump market over a short term. The Canadian government is considering US$ 20 billion in expenditures to upgrade municipal water and wastewater infrastructure, as well as green infrastructure. The US have been prioritizing improvements in storm water and water reuse, and desalination systems. Mechanical pump are in high demand due to growing investments in the water and wastewater industry as they can handle and control any type of trash. This makes them useful in a variety of applications, including conveying and metering. In addition, a growing emphasis on quality, dependability, precision, etc., in important operations to achieve operational excellence contributing to the progress of the mechanical and hydraulic pump industries. In resource-rich countries, the energy and commodity cost stabilization is likely to boost the mechanical pump industry performance. Moreover, technological advancements, greater skilled workforce availability, and enhanced productivity serve as other positive indicators for the mechanical pump market growth. However, the political, policy-related, and economic uncertainties compel most North American manufacturers to taking a more cautious approach to investments and product expansions. This allows them to prepare for disruptions caused by geopolitical tensions, government policy uncertainty, financial market instabilities, and fierce competition in markets. Such business conditions limit the mechanical pump market growth in the region. However, based on North American economic growth trends, the market opportunity for mechanical pump appears to be favorable throughout the projected period, and producers will need to take advantage of the improving conditions.

Considering technological developments and the uptake of new technologies, North America has established itself as one of the leading regions. This factor is mainly attributed to favorable government policies that boost innovation and strengthen infrastructure capabilities. Hence, any impact on the growth of the industrial sector hampers the region's economic growth. Currently, the US is the world's worst-affected country due to the COVID-19 outbreak. The unexpected emergence of COVID-19 and its subsequent impact on manufacturing slowdown, often known as the COVID-19 economic slump, has significantly impacted pump OEMs' North American operations in 2020. The drop in sales of mechanical pumps in North America has been attributed to the world's lowest oil prices, deterioration of US-China trade relations, closure of rigs by small oil companies, and colossal employment layoffs in both the US and Canada. The role of pump OEMs is projected to alter as end-users focus on enhancing the existing plant productivity and reducing operational expenditure. Pump manufacturers must expand their portfolio to include service-related solutions to find new growth opportunities.

North America Mechanical Pump Strategic Insights

Strategic insights for the North America 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.

North America Mechanical Pump Report Scope

North America Mechanical Pump Regional Insights

The geographic scope of the North America 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.

The mechanical pump market in North America is expected to grow from US$ 13,844.48 million in 2021 to US$ 19,164.93 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028. Increasing energy demands; currently, a majority of energy is being generated through conventional power plants, including coal-powered, gas-powered, nuclear, biogas-powered, and geothermal power plants. Water plays a key role in the electricity generation in these plants, as it is converted into steam to propel the turbines. Mechanical pump are used for circulating water in these power plants. Owing to the increase in population, industrialization, and urbanization across the region, the demand for energy is increasing at a high pace. As a result, several fossil fuel-powered power plants are being deployed across the region. Moreover, power generation from the renewable sources of energy is in a nascent stage and is majorly being emphasized in North America. Thus, the growing demand for energy, consequently escalating power generation activities, is boosting the North America mechanical pump market growth.

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 North 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 North 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 North America 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 North America 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

• To understand the North America mechanical pump market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America mechanical pump market
• Efficiently plan M&A and partnership deals in North America mechanical pump market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America mechanical pump market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

NORTH AMERICA MECHANICAL PUMP MARKET SEGMENTATION

By Stage

• Single Stage
• Multi Stage

By Type

• Positive Displacement
• Centrifugal Pumps

By

Application

• Residential
• Commercial
• Industrial

By Country

• US
• Canada
• Mexico

Company Profiles

• 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
• Xylem Inc.