Commercial Pumps Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Commercial Pumps market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Commercial Pumps Market report is anticipated to register a CAGR of XX% over a five years forecast period (2020 – 2023).”
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List of Major Key players operating in the Global Commercial Pumps Market are –
- Pentair Inc.
- Grundfos GmbH
- Armstrong Fluid Technology
- Franklin Electric
- Patterson Pumps
- Parker Hannifin Corp
- Goulds Pumps (ITT Inc)
- IDEX Corporation
- Gardener Denver Holdings Inc.
The commercial pumps market is expected to grow at a CAGR 5.21% during the forecast period (2020 - 2023). Commercial pumps are one of the major machinery in any manufacturing and commercial operations. The commercial pumps market is highly dependent on irrigation, agriculture, construction, and oil and gas industries. These end-users have continuous demand for the commercial pump equipment and consist major share of the market.
The recent introduction of the green buildings concept has transformed the production strategies of many top commercial pump vendors in the market. There has been high research and development activities in the market to produce highly energy efficient and smart commercial pumps. The advancements taking place in the software front of the end-users are forcing the use of IoT solutions. This requires the modern commercial pumps market to cope up with the requirements. Hence, the commercial pumps market is on the verge of transformation providing an edge over the competitors to those vendors who have the capabilities to manufacture smart and energy efficient commercial pumps.
Rising Adoption of Green Buildings in US to Increase the Demand
Commercial pumps have significant applications in the construction sector. They are majorly used for water circulation systems and waste management. Generally, buildings are responsible for an enormous amount of global energy use, resource consumption and greenhouse gas emissions. As the demand for more sustainable building options increases, green construction is becoming increasingly profitable and desirable within the international construction market. Green buildings are known for the usage of low energy consuming appliances, especially pumps, which are the prime contributors to energy consumption of a building. More energy efficient variants of commercial pumps are installed in green buildings to reduce the carbon footprint of the region.
In the United States alone, buildings account for almost 40% of national CO2 emissions out-consuming both the industrial and transportation sectors. To keep this situation under control, the construction companies in the region adopted Leadership in Energy and Environmental Design (LEED) standards to construct green buildings. According to US Green Building Council (USGBC), currently in US, LEED certified buildings have 34% lower CO2 emissions, consume 25% less energy and 11% less water, and have diverted more than 80 million tons of waste from landfills. USGBC estimates that by 2020, green construction will directly contribute a million jobs and USD 75.6 billion in wages. The industry’s direct contribution to U.S. Gross Domestic Product (GDP) is also expected to reach USD 303.5 billion by the end of 2020.
Increasing Activity in Upstream to Create New Opportunities
Oil & gas sector is the most prominent source of demand for the commercial pumps industry. The intensive work of drilling and extracting requires reliable and powerful pumps to draw resource from great depths of the ocean and land. Commercial pumps are installed in almost every vertical of the oil & gas sector. Commercial pumps are used in regulating the transport operations via pipelines, they installed in several refineries to feed the machines treating crude oil with raw product, they are used at the outlets or gas station to provide the end product to the customer, etc.
The recent low crude oil price situation since the late 2014 has shaken many secondary industries that are highly dependent on the oil & gas industry. With more than 1.8 million barrels of crude oil held back every day from the global supply due to OPEC regulations, the crude oil prices are stabilizing slowly. The newly found shale gas resources in North America and increasing investments in the Middle East region towards exploration and drilling activities is reviving all the secondary industries that are highly dependent on the oil & gas industry, including the commercial pumps market.
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Scope of the Report:
The report analyses Commercial Pumps market, which includes –
- Analysis of the growth of Commercial Pumps market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Commercial Pumps market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Commercial Pumps market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Commercial Pumps market are discussed.
- The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Commercial Pumps Market Report:
- Varying dynamics of the Commercial Pumps industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
- Commercial Pumps market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Commercial Pumps market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Commercial Pumps Market Report:
- The report analyses how stringent emission control norms will drive the global Commercial Pumps market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Commercial Pumps market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Commercial Pumps:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023
Look into Table of Content of Commercial Pumps Market Report @ https://www.360marketupdates.com/TOC/12886225#TOC
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