Future Market Insights (FMI) expects the Europe water pumps market to expand at over 3.6 % CAGR through 2031.
Pump production is one of the few industrial sectors in which Europe continues to perform at least on pace with, if not better than, its worldwide competitors. It has enjoyed a strong positive trade balance with other major alliances in Asia and the Americas for many years, and it continues to do so.
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The water pumps sector in Europe is confronted by several opportunities such as the need to reduce the energy consumption in several European countries, keep at par with the customer requirements and maintain the position concerning global vendors and expand its presence from regional to global levels.
Along with this, there are increasing opportunities by the supporting framework for energy efficiency as well as addressing the needs of the emerging markets including but not limited to chemicals and petrochemicals.
The increasing adoption of modern farming practices such as hydroponics and vertical farming as a consequence of the growing demand for organic food provides rising opportunities for water pumps in this area, which has led to the inclination of end-users towards centrifugal water pumps for water circulation.
As the Europe pump sector matures, emerging technologies like intelligent pump systems are expected to be the primary engine of future growth. The need for these “smart” pumps is growing in a variety of end-user segments, including water and wastewater treatment, building automation, and food and beverage.
Several EU regulations have been implemented through national legislation to ensure that ambient, drinkable water and wastewater meet acceptable quality criteria, as well as to increase the rate of home sewage connection.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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