Market Introduction
The mechanical pump market in Europe is further segmented into Germany, France, the UK, Italy, and Rest of Europe. The market growth in this region is attributed to the rapidly flourishing building and construction, and food and beverages industries. Pumps are deployed to transport gases, liquids, and slurries, among other substances. Pumps are powered by a variety of energy sources, including electricity, manual work, diesel engines, and wind power. They are used in the automotive industry in fuel injection and water-cooling applications, and in the energy industry in natural gas or oil pumping and cooling tower operations, among others. Mechanical pumps are used in a variety of applications, including dewatering and sewage, pond filtering and aeration, and well water extraction. Germany is set to dominate the mechanical pump market in Europe owing to the presence of multiple semiconductors and fine chemical manufacturers in the country. Atlas Copco, Grundfos, and Sulzer are among the high-quality pump manufacturers in Europe. However, European-made goods are typically more expensive than those on the worldwide market; hence, end users in this region also import pumps from rival manufacturers in the US, Japan, and China at lower prices. Modern farming technologies such as hydroponics and vertical farming are gaining traction in Europe, presenting considerable prospects for mechanical pump manufacturers. A strong commitment of European countries to public safety and environmental protection encourages wastewater management efforts in the region. For example, in Northern Europe, more than 80% of the population has been connected to wastewater treatment plants since 1995, and more than 70% of city wastewater receives tertiary treatment. Since 1995, the connection rate to wastewater treatment has climbed to 97%, while 75% of wastewater in central Europe receives tertiary treatment. The COVID-19 pandemic has adversely affected the construction, oil and gas, mining, and other businesses in the region. Production disruption, raw material shortage, and financial crisis amid these adversities hampered the mechanical pump market performance in the region in FY 2020.
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.
Market Overview and Dynamics
The mechanical pump market in Europe is expected to grow from US$ 11,758.91 million in 2021 to US$ 16,712.82 million by 2028; it is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The surge in mining activities; minerals extracted from mines are widely used across industries such as chemicals and petrochemicals, power generation, healthcare and pharmaceuticals, manufacturing, and construction. Currently, iron ore, coal, gold, aluminum, and copper are the most mined minerals. Moreover, the cumulative revenue of Top 40 mining companies increased steadily during 2016–2019. However, in 2020, a fall in revenue was witnessed owing to the COVID-19 containment measures imposed across the region. In mining industries, an enormous volume of water is required in the transportation of ore and waste in slurries, mineral separation using chemical processes, suppression of dust during mineral processing, cooling systems around power generators, and dewatering of mines, among others, and mechanical pump play a vital role in these applications. Moreover, the demand for minerals is rising sustainably with the growing rate of urbanization and industrialization, as well as increasing demand for energy, which is propelling the adoption of a mechanical pump.
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 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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the mechanical pump market in Europe are company websites, annual reports, financial reports, national government documents, and statistical databases, 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
EUROPE MECHANICAL PUMP MARKET SEGMENTATION
By Stage
By Type
By Application
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 11,758.91 Million |
| Market Size by 2028 | US$ 16,712.82 Million |
| CAGR (2021 - 2028) | 5.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Stage
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Mechanical Pump Market is valued at US$ 11,758.91 Million in 2021, it is projected to reach US$ 16,712.82 Million by 2028.
As per our report Europe Mechanical Pump Market, the market size is valued at US$ 11,758.91 Million in 2021, projecting it to reach US$ 16,712.82 Million by 2028. This translates to a CAGR of approximately 5.2% during the forecast period.
The Europe 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 Europe Mechanical Pump Market report:
The Europe Mechanical Pump Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Mechanical Pump Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Mechanical Pump Market value chain can benefit from the information contained in a comprehensive market report.
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