In 2022, the global sea water pumps market is expected to be worth approximately US$ 1.3 billion. Because of the increasing use of seawater pumps for a variety of applications, the overall market is expected to grow at a moderate CAGR of 4.3 percent between 2022 and 2028, totaling more than US$ 1.6 billion by 2028.
Centrifugal pumps will continue to be the most popular products due to their numerous advantages, including higher efficiency and lower cost. End users are increasingly using them for a variety of applications.
Regionally, Asia Pacific Excluding Japan (APEJ) will command a massive 46.9 percent share of the global sea water pumps market in 2022. Rising seaborne trade, increasing ship manufacturing activities, and heavy presence of leading market players.
The global sea water pumps market is expected to grow at a steady CAGR of 4.3 percent between 2022 and 2028, compared to a CAGR of 3.2 percent from 2013 to 2021.
According to FMI, sales of seawater pumps are expected to increase significantly during the forecast period due to increased shipbuilding activities, an increase in the number of desalination plants, a reduction in pimp costs, and growing seaborne trade business.
Sea water pumps are large, powerful pumps that are used to transfer or circulate sea water in a variety of applications. They are increasingly being used in ship water cooling systems, desalination plants, and oil refuses water.
The rapid growth of the shipping industry is creating lucrative growth avenues within the global sea water pumps market. Today, most of the world’s merchandise is being transported through sea routes. As a result, countries are continuously upgrading their fleets.
As a result, sales of seawater pumps are increasing. These pumps are widely used on ships for applications such as ballast transfer, air conditioning, and bilge pumping.
Countries are investing in oil drilling activities as industrialization spreads and the population grows. As a result, the demand for centrifugal sea water pumps has increased.
Similarly, various desalination plants are being built to meet the rising demand for freshwater. As a result, the seawater pumps market will experience rapid growth in the coming years.
Key Players:
- KSB SE & Co. KGaA
- Xylem Inc.
- Sulzer Ltd
- Torishima Pump Mfg. Co.
- Danfoss A/S, ITT INC.
- Flowserve Corporation
- Ebara Corporation
- WILO SE
- Grundfos Holding
- The Weir Group PLC
- Alfa Laval
- Kubota Corporation
- AxFlow Holding AB
- Kirloskar Brothers Ltd.
- Franklin Electric Co. Inc.
- Tsurumi Manufacturing Co. Ltd.
- Schlumberger Limited
- Eureka Pumps AS
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