The global end suction single stage pump market is estimated to grow at a remarkable CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand for pumps in agriculture sector, backed by shortage of water globally. Groundwater level is depleting rapidly across the globe, surging the need for artificial methods to extract water. According to the data by the World Health Organization (WHO), 3 out of every 10 people worldwide lack access to safe water. 2.1 billion people do not have access to readily available drinking water at home, while 844 million people do not have even a basic drinking water service. The various advantages of end suction single stage pump, such as, simple structure, stable performance, high speed, lighter weight, high efficiency, and ease to operate and repair, are estimated to boost the market growth.
The market is segmented by application into pressure boosting, liquid transfer, ventilation, air-conditioning & heating, irrigation applications, and others, out of which, the irrigation applications segment is anticipated to hold the notable share in the global end suction single stage pump market over the forecast period owing to the growing demand for water for irrigation in agriculture sector. The shortage of water has deeply affected the agriculture practices, leading to surge in demand for pumps in the sector. CLICK TO DOWNLOAD SAMPLE REPORT
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
On the basis of geographical analysis, the global end suction single stage pump market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of presence of large agriculture land, with a huge population engaged in farming. Moreover, the growing demand for water in middle-income countries, backed by water scarcity, is anticipated to propel the market growth. For instance, a report by Asia-Pacific Center for Security Studies (APCSS) stated that in China, over USD 11.2 billion loss is caused in industrial output each year due to water shortage. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the presence of major market players in the region, manufacturing the centrifugal pumps. Moreover, the efficient industrial infrastructure in the region supports the growth of the regional market.
The global end suction single stage pump market is further classified on the basis of region as follows:
Our in-depth analysis of the global end suction single stage pump market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing water scarcity across the globe is estimated to boost the market growth.
The market is anticipated to attain a remarkable CAGR over the forecast period, i.e., 2022 – 2030.
High competition from multistage pump is estimated to hamper the market growth.
The market in the North America region is estimated to provide more business opportunities over the forecast period owing to the presence of major market players in the region.
The major players in the market are Xylem, Sulzer Ltd., Flowserve Corporation, Grundfos Holding A/S, The Weir Group PLC, Baker Hughes Company, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by operation type, application, end-user, and by region.
The industrial segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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