Market Introduction
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Europe is witnessing significant investments in the oil & gas industry. The North Sea continues to remain the main source of Europe’s oil & gas demand, while several projects are in the development phase in the region. A few of the recent or ongoing projects include Johan Sverdrup Development in Norway, Rosebank & Lochnagar Oil & Gas Fields in the UK, Johan Castberg Field in Norway, Aphrodite Gas Field in Cyprus. Further, automotive manufacturing is one of the prominent industries in the region. As per the European Commission, the automotive sector accounts for ~7% of the EU GDP. Germany, Spain, France, and the UK are among the prime vehicle manufacturing countries in the region. The shift from coal-based power generation to gas-based power generation has been one of the most significant transformations observed in the European energy mix. This has considerably reduced energy generated from coal powered plant in the past few years, thus driving focus towards natural gas power generation. Increased operation of natural gas power plants for energy generation has lowered the CO2 emissions from the European power sector. Moreover, the Eastern European region is witnessing surge in the deployment of nuclear power plants. Growth of construction industry and rising use of water in mining activities are the major factor driving the growth of the Europe centrifugal pump market.
In case of COVID-19, Europe is highly affected specially the UK. Businesses are suffering from financial crises as they had to either suspend their operations or reduce their activities substantially to abide by the social distancing norms and lockdown impositions. Europe is one of the major regions which is observing significant growth in infrastructure and construction activities. Also, the demand for water and waste management is rising significantly over the years. Due to the presence of giant manufacturers, which are known for the high adoption of centrifugal pumps, the centrifugal 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 fall in demand have been limiting the performance of manufacturing sector, 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.
Europe Centrifugal Pump Strategic Insights
Strategic insights for the Europe Centrifugal 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.
key 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.
Europe Centrifugal Pump Regional Insights
The geographic scope of the Europe Centrifugal 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.
Market Overview and Dynamics
The Europe centrifugal pump market is expected to grow from US$ 10,537.99 million in 2021 to US$ 14,791.72 million by 2028; it is estimated to grow at a CAGR of 5.0% from 2021 to 2028. Rising awareness among masses about the long-term effects of pesticides and fertilizers used in agricultural practices, has triggered the demand for organic food produce. However, environmental, or climatic uncertainties make conventional farming methods challenging. Modern farming methods such as hydroponics and vertical farming use controlled indoor environment, and they can be employed to grow vegetables, fruits, and species organically, without the use of pesticides and fertilizers. In hydroponics, the aquaculture is used to nourish the sapling, and in vertical farming, trance minerals are used to nourish the sapling. Water is a major element that is circulated to provide nourishment to the roots of sampling. Centrifugal pumps are widely used for circulating the water. Moreover, these techniques allow producers to adopt organic farming practices as well as to ensure optimum utilization of limited space. Thus, the increasing adoption of modern farming practices owing to growing demand for organic food is projected to generate ample growth opportunities for the Europe centrifugal pumps market players.
Key Market Segments
In terms of stage, the single stage segment accounted for the largest share of the Europe centrifugal pump market in 2020. In terms of operation type, the electric segment held a larger market share of the Europe centrifugal pump market in 2020. In terms of type, the overhung impeller segment held a larger market share of the Europe centrifugal pump market in 2020. Further, the wastewater management segment held a larger share of the Europe centrifugal pump market based on sector in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe centrifugal pump market 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.
Reasons to buy report
- To understand the Europe centrifugal 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 Europe centrifugal pump market
- Efficiently plan M&A and partnership deals in Europe centrifugal 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 Europe centrifugal pump market
- Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
