According to a new market research report published by Credence Research “Global Dewatering Pumps Market (Type (Submersible Dewatering Pumps, Non-submersible Dewatering Pumps); Application (Construction & Agriculture, Oil & Gas, Municipal, Mineral & Mining, Others)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall dewatering pumps market worldwide was valued at US$ 6.80 Bn in 2018 and is set to grow with a CAGR of 6.4 % during the forecast period.
The global dewatering pumps market is highly driven by increasing urbanization and development in oil and construction industries globally. Dewatering pumps are portable equipment which are installed at construction sites situated at lower ground levels and are used to maintain & control groundwater water level. Moreover, these are cost efficient equipments which help the operators or the in-charge at the sites to work without any disturbance by eliminating the water issues.
The government of various countries such as United Arab Emirates, South Africa and Morocco are focusing on resources for distillation of drinking water from various places and water sources beneath the earth, which is a major factor driving the dewatering pump market. Furthermore, various companies are developing new technologies which are also anticipating in the growth of the market. For instance, ARO Fluid Management launched P35A1-EU submersible dewatering pump, which can to handle a wide variety of debris-laden applications.
Based on application, the dewatering pumps market has been segmented as construction & agriculture, oil & gas, municipal, mineral & mining, and others. The oil & gas segment is considered to be the dominating segment due to increasing use of dewatering pumps in these applications and their ability to pump the fluid from oceans and underground. Moreover, the submersible pumps provide an efficient form of artificial lift which reduces the manual work.
North America holds the second largest market share in the dewatering pumps market due to presence of various oil and gas industries present in the region. Additionally, the presence of various key players in the region which are investing highly in developing new technology and pumps which leads the growth of the market. The US in the region holds the largest market share followed by Canada.
Some of the prominent players operating in the dewatering pumps market include Grundfos AS, Sulzer Ltd., The Weir Group, Ebara Corporation, Xylem Inc., KSB Pumps Ltd., Wacker Neuson SE, TSURUMI MANUFACTURING CO., LTD., American Honda Motor Co., Inc., Nanfang Pump Industry Co., Ltd., Zoeller Pump Company, Mersino Dewatering, Zhejiang EO PumpVertiv Co, and Veer Pump Industries.
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