Sea Water Pumps Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

A water pump is a machine or device that is driven by a belt, which is connected to the engine’s crankshaft. The water pump circulates water whenever the engine is turned on. The water pump works on the principle of converting mechanical energy into pressure energy. Centrifugal force is used to send the water out of the pump when it spins, causing water to be drawn continuously from the center. Sea water pumps are used to circulate sea water for multiple applications like deck washing, engine cooling, firefighting, and more. Water pumps can be classified as centrifugal, axial, and positive displacement pumps. Among these the most widely used are the centrifugal pumps due to their flexibility in performance when compared to other types of pumps. 

COVID-19 Scenario analysis:

• COVID-19 pandemic has shut-down the production of various products in the sea water pumps industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of the sea water pumps market significantly from last few months, as is expected to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Drivers, restraints and opportunities

Rise in the development of the ship manufacturing industry, improvement in international trade, and the stringent emission laws by governments of several countries are the major potential drivers that are expected to positively influence the growth of the global sea water pumps market. Apart from these, spreading awareness about the supply of uncontaminated water, treatment and distillation of the sea water can significantly contribute for the global sea water pumps market growth. However, one of the factors that can hinder the growth of the sea water pumps market is the high product and maintenance costs. The adoption of non-corrosive metals such as bronze as a replacement for stainless steel in the production of the water pumps will increase the opportunities for manufacturing companies in the sea water pumps market. 

Trends in the sea water pumps market

New product launches to flourish the market

Water pump manufacturers have started focusing on customized products and new technological innovations. The new upgraded products are designed with the objective to make the water pumps compact and energy efficient. For instance, in 2018, Neptune systems launched COR-20 intelligent return pump which is a brush less, variable speed DC-driven pump. The special features of the COR-20 pump are energy efficiency and very quiet operation. The power consumption is less than 90W. Such new products with improved efficiency and innovative features can provide momentum for the increase in demand for the sea water pumps market over the forecast period. 

Rise in need for desalination plants

As the population across the world is increasing every day, the demand for treated water which is a basic necessity is also increasing. Consequently, the need for desalination plants has also been booming lately. Desalination is a process of removing salts and mineral components from saline water. Sea water pumps have widespread applications in desalination plants. There is an increase in the number of desalination plants in the countries like Africa and other Middle Eastern countries, which is creating great growth opportunities for the sea water pumps market. Additionally, surge in seaborne trade is also expected to drive the growth of the shipbuilding industry, which will result in increase in demand for sea water pumps.

Key benefits of the report:

• This study represents the analytical representation of the global sea water pumps market combined with the ongoing trends and future predictions to determine investment opportunities.
• The present market is thoroughly analyzed to enlighten the sea water pumps market growth.
• The report gives the information regarding the important drivers, restraints, and opportunities provided with an in depth analysis of the global sea water pumps market.
• Segmentation details of the global sea water pumps market.
• The report gives a comprehensive global sea water pumps market analysis based on competitiveness and how the performance of the competitors will take shape in coming years. 

 Sea Water Pumps Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights