Organized sector holds the maximum share in dewatering pumps market on a global basis, followed by small scale manufacturers. Manufacturers in the dewatering pumps market are planning to take immense efforts in expanding their product portfolio, thereby strengthening their distribution and sales network. Mergers and acquisitions are the recent strategies that is trending in the dewatering pumps market.
Proliferating Exploration Activities to Drive Production Sales of Dewatering Pumps
Governments in developed as well as developing regions are increasing their focus on improving the drinking water services in the rural and urban areas. Exploration of novel water resources is likely to stimulate the sales of dewatering pumps along with enhanced efficiency and capacity for domestic and agricultural applications. Increasing number of desalinization projects are further fuelling the supply demand of dewatering pumps.
Rapid increase is witnessed in the ASEAN region with regards to sanitation and water supply projects by governments, which in turn is expected to drive the production sales of centrifugal pumps, especially for the purpose of agricultural and domestic applications.
Future Market Insights indicates in its recent report that dewatering pumps market on a global basis will expand at a healthy 5.2% CAGR throughout the forecast period, 2018-2028 for touching an evaluation of nearly US$ 9,510.2Mn by 2028-end.
APAC to Emerge As a Hub for Leading Players
Korea region is witnessing significant increase in the production of customized pumps due to rising number of government projects, which in turn is likely to drive the production sales of dewatering pumps in the forthcoming years. Manufacturers in the APAC region are making heavy investments in R&D for developing unique methods, in order to increase the production sales of customized dewatering pumps. Companies such as Swiss Pump Korea is taking immense efforts in developing solutions, which would help the company to hold the lion’s share in the Korean dewatering pumps industry. Key players are planning to shift their production base as well as focus towards APAC region, which would help them in capitalizing on economies of scale.
Rising imports of customized dewatering pumps along with world-class production support has led to rapid increase in the customer base of dewatering pumps market in South Korea. There has been gradual increase in small as well as large scale mineral projects across South Korean region, which in turn is increasing the supply demand of dewatering pumps in South Korea. The existing and emerging customer base of oil and gas industry in APAC region is likely to experience field support, advanced and innovative equipment and wide-ranging services form the leading market players. Power generation sectors of South Korea are expected to gain traction in the dewatering pumps market in the forthcoming years.
Low-Priced Pumps from China to Significantly Hinder Growth of the Dewatering Pumps Market
Existence of various Chinese players that are providing low-priced dewatering pumps are likely to significantly hinder growth of the dewatering pumps market in the forthcoming years. This step by the Chinese players is highly influencing the leading manufacturers to develop dewatering pumps that are technologically advanced, efficient and reliable and is of high-quality. International dewatering pump manufacturers are planning to differentiate their product portfolio with the help of several services along with incorporation of advanced technologies.
A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-6685