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2021
Axial Flow Pump Market

Axial Flow Pump Market

by Product Type (Horizontal and Vertical), Application (Water Treatment, Irrigation, Evaporators, and Others) and End-Use (Chemical, Municipal, Pulp & Paper, Food & Beverage, Agriculture, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Update Available On-Demand

Report Code: A12995
Pages: 238
Aug 2021 | 2421 Views
Author(s) : Nikhil Mittal , Eswara Prasad
Tables: 128
Charts: 75
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COVID-19

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Axial Flow Pump Market Overview - 2030

The global axial flow pump market forecast was valued at $27.4 billion in 2020, and is projected to reach $42.1 billion by 2030, growing at a CAGR of 4.4% from 2021 to 2030. Axial flow pump, also known as propeller pump, is a type of centrifugal pump that allows fluid to move axially with the help of impeller. High flow rate with low head height can be achieved with these pumps and it can also be used to offer required flow rate by altering impeller pitch.           

The axial flow pump market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on chemical, petrochemical, fisheries, and other sectors. According to a report published by the National Bureau of Statistics of China, the chemical industry witnessed a 20% decline in production in March 2020 as compared to March 2019, while profits declined by 66%.

Axial flow pumps are used in sewage water treatment plants, irrigation, and flood regulation. In agriculture sector, these pumps are employed for pumping water from water reservoirs to feild and to remove unwanted or extra amount of water from agriculture field. In addition, it can also be used in municipal water treatment that helps drive the water or fluids to different conveyer systems or reservoir. These factors are expected to drive the axial flow pump market growth. Furthermore, advantages such as high low rate with minimal requirement of pressure, enhanced discharge rate with relatively low velocity of head, and they can be adjusted to run effectively and achieve efficiency coupled with minimal aerodynamic loss are contributing towards the growth of global axial flow pumps market. All these factors collectively surge the demand for axial flow pump; thereby, augmenting the global market growth.

Axial-Flow-Pump-Market

However, axial flow pumps are not suitable for handling highly viscous fluids and they pose challenges for using them during high pressure applications. This factor is predicted to hamper the market growth. 

On the contrary, other types of centrifugal pumps that are used to transfer the fluids from one point to another at low heads pose disadvantages such as drop in efficiency and requirement of high utilization of energy. However, pumping water from reservoirs such as canals and draining water from low land areas to save the crop are carried with use of axial flow pumps. This application is generally carried out with low head level and use of axial flow pump with additional attachment of power tillers is the suitable choice. It is a key factor that is anticipated to offer new opportunity in the global axial flow pump market. 

The global axial flow pump market analysis is done on the basis of product type, application, end use, and region. Depending on product type, the market is divided into horizontal and vertical. On the basis of application, it is fragmented into water treatment, irrigation, evaporators, and others. The end use covered in the study include chemical, municipal, pulp & paper, agriculture, food & beverage, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The major companies profiled in this report include Ebara Corporation, Flowserve Corporation, Grundfos Holdings A/S, Handol Pumps Limited, Hitachi Industrial Products Ltd., ITT Goulds Pump, Pentair PLC, Sulzer Ltd., The Weir Group PLC, and Xylem Inc. 

Axial flow pump market, by region

The Asia-Pacific axial flow pump market size is projected to grow at the highest CAGR of 5.3% during the forecast period and accounted for 41.9% of the axial flow pump market share in 2020. This is attributed to the proliferating demand of axial flow pumps for applications such as crop irrigation, sewage treatment, and fisheries flood control operation.

Axial Flow Pump Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit highest CAGR of 5.3% during 2021-2030.

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Axial flow pump market, by product type

In 2020, the horizontal product type was the largest revenue generator, and is anticipated to grow at a CAGR of 4.3% during the forecast period. The horizontal axial flow pump possesses various significant characteristics such as easy assembling and disassembling, easy routine inspections, high discharge rates, adjustable pump housing, and others that make it a perfect choice for a wide range of fluid transport applications. The utilization of horizontal axial flow pumps in sectors such as agriculture, chemical manufacturing, water treatment, and others. This factor is escalating the growth of horizontal product type in the global market.

Axial Flow Pump Market
By Product Type

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Vertical product type is the most lucrative segment

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Axial flow pump market, by application

By application, the others segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 5.1% during forecast period. This is attributed to the fact that axial flow pumps possess various significant characteristics such as high discharge rate, adjustable pitch, low hydrodynamic losses, and others that make them suitable for applications such as fisheries, sewage digester, high volume mixing, heat recovery systems, and others. The increasing global power consumption has surged the need for heat recovery systems where axial flow pumps are widely used for the circulation of process fluid in power plants. For instance, according to a report published by International Energy Agency, the global electricity demand is expected to grow at an annual growth rate of 2.1% by 2040. 

Axial Flow Pump Market
By Application

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Others application is projected as the fastest growing segment

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Axial flow pump market, by end use

In 2020, the agriculture end user was the largest revenue generator, and is anticipated to grow at a CAGR of 4.0% during the forecast period. The utilization of axial flow pumps in agricultural sectors for irrigation, fisheries, drainage, and others is the key market trend in the global market. Furthermore, the increasing population has surged the demand for crop production where axial flow pumps are widely employed for irrigational purposes.

Axial Flow Pump Market
By End-use

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Food & beverages end-use is projected as the fastest growing segment

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Key benefits for stakeholders

  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the axial flow pump industry for strategy building.
  • It outlines the current axial flow pump market trends and future estimations from 2020 to 2030 to understand the prevailing axial flow pump market opportunities and potential investment pockets.
  • The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
  • The profiles of key players and their key strategic developments are enlisted in the report.

Impact Of Covid-19 On The Global Axial Flow Pump Market

  • The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe.
  • The axial flow pump market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on chemical, petrochemical, fisheries, and other sectors. According to a report published by the National Bureau of Statistics of China, the chemical industry witnessed a 20% decline in production in March 2020 as compared to March 2019, while profits declined by 66%.
  • Also, several chemical manufacturing companies have either shut down or shrank their operations due to the risk of infections among the workforce where axial flow pumps are used for transporting large liquid masses to various chemical industry equipment such as evaporators, crystallizers, and others. This has temporarily hampered the demand for the axial flow pump market amid the COVID-19 period.    
  • In addition, the falling income of customers and international travel restrictions has led to a contraction of the demand for axial flow pumps among refining sectors. For instance, according to a report published by the U.S Bureau of Labor Statistics, the global oil demand decreased by 3 million barrels per day during March 2020, owing to the lockdowns and transport restrictions. In addition, around 180 countries have temporarily stopped the trade of unnecessary products, which in turn has hampered the demand-supply chain of axial flow pumps amid the COVID-19 situation. 
  • However, the demand for axial flow pumps among sectors such as agriculture, food processing, and others has maintained the position of the axial flow pump market during the COVID-19 situation. For instance, according to an article published by DownToEarth, the gross value added (GVA) by agriculture sectors in India has grown by 3.4% during April-June 2020. Thus, growing agricultural sectors where axial flow pumps are widely used for irrigation purposes may enhance the performance of the axial flow pump market post-COVID-19 period.  

Key market segments

By Product Type

  • Horizontal
  • Vertical

By Application

  • Water Treatment
  • Irrigation
  • Evaporators
  • Others

By End Use

  • Chemical
  • Municipal
  • Pulp & Paper
  • Agriculture
  • Food & Beverage
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 

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The global axial flow pumps market is expected to exhibit high growth potential. The axial flow pump possesses various significant characteristics such as easy assembling and disassembling, easy routine inspections, high discharge rates, adjustable pump housing, and others that make it a perfect choice for a wide range of fluid transport applications. The utilization of axial flow pumps in sectors such as agriculture, chemical manufacturing, water treatment, and others is the major key market trend in the global market.

In addition, the growing population have surged the demand for crop production, which in turn has led farmers to use advanced machinery equipment where axial flow pumps are widely used for irrigation purposes. Moreover, increase in export demand has made chemical manufacturing industries one of the fastest-growing and diversifying industries in developing economies where axial flow pumps are widely used for transportation of process fluids, which is predicted to offer lucrative growth opportunities in future.

The government bodies of different countries have launched various projects for promoting good wastewater management practices where horizontal axial flow pumps are widely used for water transportation purposes due to their high discharge rates and easy assembly characteristics. For instance, the Global Wastewater Initiative (GW2I) launched by United Nations Environment Programme promotes good wastewater management practices, encourages investments, and fosters opportunities that can be applied by countries in the field of wastewater. This is not only gaining immense attention in the market but also emerging as a key strategy in terms of gaining additional market demand.

 

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FREQUENTLY ASKED QUESTIONS?

A. The applications of axial flow pump include water treatment, irrigation, evaporators, and others.

A. Acquisition and product launch are the key growth strategies of axial flow pump market players

A. To get latest version of axial flow pump market report can be obtained on demand from the website.

A. Asia-Pacific region will provide more business opportunities for axial flow pump market in coming years

A. Horizontal product type holds the maximum share of the axial flow pump market.

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. Ebara Corporation, Flowserve Corporation, Grundfos Holdings A/S, Handol Pumps Limited, Hitachi Industrial Products Ltd., ITT Goulds Pump, Pentair PLC, Sulzer Ltd., The Weir Group PLC, and Xylem Inc. are the leading players in axial flow pump market.

A. Axial flow pumps are used in sewage water treatment plants, irrigation, and flood regulation. In agriculture sector, these pumps are employed for pumping water from water reservoirs to filed and to remove unwanted or extra amount of water from agriculture field. In addition, it can also be used in municipal water treatment that helps drive the water or fluids to different conveyer systems or reservoir. This factor is anticipated to drive the axial flow pump market growth

A. The global axial flow pumps market is expected to exhibit high growth potential. The axial flow pump possesses various significant characteristics such as easy assembling and disassembling, easy routine inspections, high discharge rates, adjustable pump housing, and others that make it a perfect choice for a wide range of fluid transport applications. The utilization of axial flow pumps in sectors such as agriculture, chemical manufacturing, water treatment, and others is the major key market trend in the global market are the key trends in the axial flow pump market.

A. The global axial flow pump market was valued at $27.4 billion in 2020, and is projected to reach $42.1 billion by 2030, growing at a CAGR of 4.4% from 2021 to 2030.

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