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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Volute Pump Market
Request Now !Volute pump is a type of centrifugal pump, in which pump casing has two parts, i.e., volutes and diffusers. Metallic pumps and concrete pumps are the two major types of volute pumps available in the market. Metallic pumps are used in large-capacity water handling applications. On the contrary, concrete pumps are used at the construction site in transferring/conveying liquid mixed concrete from the containers to where it needs to be filled.
Both of these types of volute pumps are of further categorized into two types, i.e., single volute pump and double volute pump, where double volume pump has two cutwaters and single volume pump has just one cutwater.
COVID-19 scenario
Companies are trying to manage lost income and disrupted supply chains due to industrial facility shutdown, quarantine, lockdown implemented across the globe. With coronavirus impacting numerous segments, including venture advancements, development works, assembling, and travel/tourisms, interest for crude materials, for example, oil and coal has dropped and costs are declining. These factors further influence new projects in the volute pump market growth.
Furthermore, the outbreak of COVID-19 has resulted in lack of new developments in energy, gas, and oil sectors, leading to sluggish demand for volute pump across the globe. On the contrary, hygiene, medical, and pharmaceutical industries are expected to witness considerable growth due to significant role played by these pumps in piping system and making processes efficient. This is further expected to create potential opportunities for the market expansion in the near future.
Increase in consumption of oil &gas around the world is likely to drive the growth of the global volute pump market. In addition, rise in interests in vitality effectiveness ventures sponsored by governments boosts the development of the market. Other major factor that is likely to fuel the growth of this market is active participation of state and federal governments in irrigation schemes across various geographies. Awareness among population pertinent to rain water harvesting is expected to create growth opportunities for this market.
Apart from these, rapid increase in industrialization, higher investment on infrastructure program, and development of the irrigation sector significantly contribute toward the growth of the global market.
Key benefits of the report
Key Market Segments
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Key Market Players
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