End Suction Pump Market to Exceed US$ 6.08 by 2031 with Industrial Sector Contributing 3/4th of Overall Sales

FMI

The comprehensive analysis conducted by Future Market Insight (FMI) uncovers critical trends and opportunities augmenting the growth in the end suction pump market. It also provides detailed study of the demand outlook across various segment in terms of type, flow rate, and application over the assessment period. It also highlights key expansion strategies adopted by leading players in the market.

DUBAI, UAE, Dec. 6, 2021 /PRNewswire/ -- As per a detailed study by FMI, the global end suction pump market is set to top US$ 6.08 Bn in 2021. Increasing use of the end suction pumps in the power industry for various processes, including boiler feed, circulation, and sludge handling is propelling the demand in the market.

End suction pumps are finding a wide range of applications such as water dosing, fire suppression, and heating, ventilation, and air conditioning (HVAC) gas suction across hotels, gas stations, and others. On account of this, the market is expected to grow at a CAGR of 4.6% CAGR during the forecast period 2021-2031.

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Hence, increasing construction activities owing to the rapid urbanization across emerging economies such as China, India, and Japan among others is expected to create lucrative growth opportunities in the market.

Governments of several countries are emphasizing on expanding their manufacturing capacity. For instance, the Indian Government has initiated a 'Make in India' program to expand the manufacturing sector in the country.

Such initiatives to increase production of petrochemicals, processed food & beverage, chemicals, and others will boost the market. In response to this, end suction pump market is estimated to register 3.5% year-on-year growth in 2021.

Based on application, the industrial segment is projected to hold the lion's share in the market, accounting for more than 75% of the sales in 2021. Growing demand for end suction pumps for application in oil & gas, power generation, water treatment, and mining sector is facilitating the growth in the segment.

"Rising offshore and onshore oil gas exploration activities and rising emphasis on the development of wastewater infrastructure across the U.S., China, and India is expected to drive the growth in the market," says a FMI analyst.