Trash Pumps Market Size to Reach USD 3.63 Billion by 2032 – Rise in Demand for Electric Pumps Worldwide to Promote Growth: The Brainy Insights
The rising investments in research and development to develop new and innovative trash pump products will drive the trash pumps market growth. The increasing applications of pumps in various end-use industries like residential, oil & gas, mining, agriculture, industrial, and municipal water are the driving factor of the market demand. Asia Pacific region emerged as the most significant global trash pumps market, with a 46.34% market revenue share in 2022.
Newark, March 27, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the trash pumps market will grow to USD 1.90 Billion in 2022 and reach USD 3.63 Billion by 2032. In just ten years, the increasing adoption of centrifugal pumps for agriculture applications and the growing investment in wastewater treatment plants worldwide are also anticipated to drive market growth during the forecast period. Additionally, the ever-increasing urbanization, rising awareness about the benefits of using trash pumps for various applications, and increasing infrastructural development activities, are expected to propel the market growth over the upcoming years.
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Key Insight of the Trash Pumps Market
Asia Pacific to account for the largest market size during the forecast period.
Asia Pacific is expected to have the largest market share in the trash pumps market. Key factors favouring the growth of the trash pumps market in the Asia Pacific include the presence of many low-cost product manufacturers in developing nations, as well as the existence of different small, medium, and large-scale chemical and pharmaceutical enterprises in India and China are helping stimulate market growth. Further, the growing attraction of investors for the manufacturing & production of trash pumps due to the availability of cheap labour, raw materials, and substantial economic case for channelling capital flows in emerging economies is expected to drive market growth in this region.
The enterprise segment is expected to augment the trash pumps market during the forecast period.
The enterprise segment held the largest market share in 2022 and is expected to continue during the forecast period owing to increased demand from commercial institutions and industrial units. However, these applications require many sewage water removal pumps as they are majorly discovered in urban areas with a high population density.
The electrically driven segment market size was USD 2.99 billion in 2022
The electrically driven segment is anticipated to dominate the market over the forecast period owing to the rising demand for automation and smart management of resource circulation operations in various end-user industries. Further, by 2032, the engine driven segment will likely dominate the market due to the rising demand for crude oil to support manufacturing centres and international and domestic transportation.
The sump pumps segment is anticipated to dominate the market by 52.07% in 2032.
The sewage water-removal pumps segment held the largest share in the global trash pumps market in 2022 due to the rising use of water pumps in household applications, including in-house water fountains, gardening, and water coolers. Further, by 2032, the sump pumps segment will likely dominate the market due to increased awareness of safety among consumers. Additionally, the sump pumps remove excess water that would otherwise accumulate in basements, crawl spaces, or other areas of the property.
The aluminum body segment market size was USD 2.99 billion in 2022
The aluminum body segment is anticipated to dominate the market over the forecast period owing to the increasing use of construction machinery for operations such as excavation, earthmoving, and material handling, as well as the growth of the automotive industry.
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Driver: Rising construction activities:
The utilization of hydraulic gear pumps in the construction industry is widespread and expected to drive the market’s growth. Mobile machineries, such as loaders, excavators, cranes, tractors, forestry equipment, vacuum trucks, graders, mining machinery, dump trucks, and more, use hydraulic gear pumps as they typically do not use electric actuators. Moreover, the increasing demand for water treatment facilities to address the world’s heightened water scarcity issues further stimulates market growth. Consequently, increased construction activities and increased construction spending in several countries further propel the market growth.
Restraint: The limited installation space for sump pump systems:
The increasing concerns over environmental pollution, sustainability, and limited product differentiation are restraining market growth factors.
Opportunity: The technological advancements for the development of low-cost solar water pumps:
Technological advancements for developing low-cost solar water pumps are the opportunity factor for market growth. Further, the increasing expansion activities by a significant player via strategic mergers & acquisitions drive market growth. Additionally, the growing investments in crucial sectors such as infrastructure and manufacturing are also helping to boost the market growth. However, the rapid technological changes, rising competition among vendors, and the increasing adoption of digital technologies across various industries are expected to drive market growth in the projection period. Additionally, technological trends such as intelligent pump systems, the introduction of magnetic drive pumps, and next-generation industrial automation are promoting market growth in the forthcoming year.
Some of the major players operating in the Trash Pumps market are:
• Little Giant
• Dayton Wire Wheels
• Tsurumi Pump
• Wacker Neuson
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|Revenue forecast in 2032||USD 3.63 Billion|
|Growth Rate||CAGR of 6.70% from 2023 to 2032|
|Key Market Opportunities||The increasing applications of pumps in multiple end-use industries|
|Key Market Drivers||Rapid urbanization and industrialization|
Key Segments cover in the market:
By Drive Type:
• Engine Driven
• Electrically Driven
• Gas Driven
• Sewage Water-Removal Pumps
• Sump Pumps
By Material Type:
• Cast Iron Body
• Aluminum Body
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client’s objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client’s requirements whether they are looking to expand or planning to launch a new product in the global market.
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