Rising deployment of utility pumps for supplying water to agricultural fields will be the key factor driving the global utility pump market growth during the forecast period. Growing crops in fields require huge quantities of water that needs to be pumped regularly. With a large number of people being dependent on agriculture for survival, agricultural activities and production have increased exponentially in the last few decades and the trend is expected to continue in the next few decades. According to the World Bank (WB), by 2050, agriculture will feed approximately 9.7 billion people. In 2016, close to 65% of the world’s poor working adults made their livelihood through agriculture, as per WB’s estimates. Efficient utility pumps can contribute significantly to higher agricultural productivity, thereby pushing up their demand and positively impacting the global utility pump market till 2026.
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Fortune Business Insights identifies some of the key players in this market:
- Neptune Systems
- Eco-Flo Products
- Johnson Pump
- Tsurumi Pump
- Scepter Consumer
- The Basement Watchdog
Key Market Driver – Rise in the agricultural and construction activities
Key Market Restraint – Maintenance cost of the utility pumps
Fortune Business Insights, in its report, titled “Utility Pump Market Size, Share and Global Trend By Product Type (Gasoline Powered Pumps, Transfer Pumps, Submersible Pumps Others), By Application (Removing Water, Removing Condensation, Boosting Water Pressure, Moving Large Amount of Water, Others) and Geography Forecast till 2026”, has come out with a detailed analysis of the factors that will influence the market in the forecast period. The report also incorporates an in-depth assessment of the dynamics and aspects that will shape the development of the market.
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Multiple Advantages of Submersible Pumps to Boost the Market
Utility pumps are instruments that facilitate pumping liquids, such as water, acids, and sewage, in large quantities. They are generally made from stainless steel, plastic, or thermoplastic. One of the most popular types of pumps are submersible pumps and their high demand is expected to fuel the global utility pump market revenue during the forecast period. Their high demand is attributable to the variety of advantages they offer. For example, submersible pumps do not need to be prepared or warmed up before the job as they are submerged in the fluid already. They are energy-efficient since water is pushed into the pump by the water pressure owing to which the pump does not to expend extra energy to suck the water in. Submersible pumps are also quiet as they work underwater. This makes them an economically feasible option in agriculture and in providing water to water-starved urban and rural areas.
Key Segmental Overview:
1. By Product Type
- Gasoline Powered Pumps
- Transfer Pumps
- Submersible Pumps
2. By Application
- Removing Water
- Removing Condensation
- Boosting Water Pressure
- Moving Large Amount of Water
3. By Geography
- North America (The USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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North America to Occupy a Commanding Position; Asia-Pacific to Grow Healthily
North America is projected to dominate the global utility pump market share on account of increasing mining and shale oil exploration activities in Canada and the US. Escalating rate of urbanization and industrialization in China, South Korea, and India will propel the market for utility pumps in Asia-Pacific in the coming decade. In Europe, utility pumps will see soaring demand owing to the expanding food processing industry, especially in southern Europe. Advancing agricultural technologies will also push the demand for utility pumps in the continent. Lastly, oil and gas extraction and refinement will be the key activities that will drive the global utility pump market in Latin America and the Middle East during the forecast period.
Innovations to Energize Competition; Milwaukee Tool Launches Its Hydraulic Pump
Milwaukee Tool launched its M18 Force Logic 10000 PSI hydraulic pump in Wisconsin in June 2019. The pump is smaller in size and lighter in weight, making its installation convenient at any given site. Similarly, Neptune Chemical Pump unveiled its Series 500 hydraulic metering pumps that can are adjustable while working at 100% capacity. Moreover, the motor has an automatic thermal overload detector built into the system. Such innovations are expected to intensify competition in the global utility pump market in the forecast period.
Major Table of Content For Utility Pump Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Utility Pump Market Analysis, Insights and Forecast, 2026
- North America Utility Pump Market Analysis, Insights and Forecast, 2026
- Europe Utility Pump Market Analysis, Insights and Forecast, 2026
- Asia Pacific Utility Pump Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Utility Pump Market Analysis, Insights and Forecast, 2026
- Latin America Utility Pump Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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Key Industry Developments
- In July 2015, Kirloskar Brothers Limited announced about the acquisition of Netherland based Rodelta Pumps International was completed by its subsidiary The Kirloskar Pompen BV. Rodelta has been in the field of manufacturing of API and non API pumps for various applications like oil and gas, pulp and paper, water, chemical, etc.
- In June 2019, Milwaukee Tool unveiled its new products at symposium 2019 held at Wisconsin. The new products unveiled included M18 FORCE LOGIC 10000 PSI hydraulic pump which is smaller in size and lighter in weight and easy to install at the required site.
- In June 2019, International technology group ANDRITZ announced that it would be supplying 4 two-stage vertical pumps for water transport as a part of the Shanxi Xiaolangdi yellow river diversion project in China. These pumps will have a flow rate of 5 cubic meters per second over ahead of 236 meters with an efficiency of 91 percent.
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