Global end suction pump market to register year-on-year (YoY) growth of 3.5% in 2021 to total 4.3 million units. As per the end suction pumps industry analysis, demand for close coupled pump will grow by 3.6% to total 3.6 million units by the end of 2021.
Demand in the China end suction pumps market is expected to rise at nearly 5.1% CAGR over the forecast period. China is a global manufacturing hub hence it exhibits high demand for various industrial equipment, including end suction pump.
Steered by surging application in commercial and industrial sectors alike, the sales of end suction pumps will represent 3% of global pumps market in 2021. Rapid industrialization has increased the demand for various production related equipment. Driven by this, the end suction pumps market will rise at 4.6% CAGR between 2021 and 2031 in comparison above 5.8% CAGR registered during 2016-2020.
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Leading manufacturing companies are focusing on expanding their sales and distribution footprint in untapped emerging markets based in South Asia, Latin America and Africa. To improve clientele base and key accounts management.
Some companies are collaborating directly with end users for turnkey projects via proposal bids. The key manufacturers are also looking forward to develop customer specific custom made products according to their needs backed with aftersales service.
Increasing energy costs and growing environmental awareness among end users are expected to drive demand for energy-efficient and cost-effective end suction pumps over the forecast period. Industries often rely on end suction pumps to improve pump efficiency and reduce energy consumption.
Key Takeaways from End Suction Pumps Market Study
- Close coupled pump segment is projected to hold over 80% volume share in the global market in 2021.
- The demand from industrial sector is set to account for 75% of the overall sales in the market.
- East Asia will remain a primary market, backed by expansion of industries and growing urbanization in the region. It is expected to account for over 25% of the demand registered globally in 2021.
- Upto 100 GPM end suction pumps sales is set to surge at CAGR of approximately 4.6% over the coming decade.
- Sales of end suction pumps in the U.S. will total US$ 992.4 Mn by 2031.
“Higher focus on expansion of manufacturing will boost end suction pumps sales in the coming years. Focus on turnkey projects by OEMs is expected to create attractive opportunity for the growth of the market” says a Future Market Insights analyst.
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The end suction pumps market is highly fragmented with more than 100 players across the world. The top companies account for around 15-20% of the market share. In order to achieve high sales, leading market players are creating contracts with end users and customizing solution to cater to industry specific requirements.
Increasing construction of commercial spaces, including hotels, retail space, office and institutions has boosted the demand for the end suction pumps because of their utility in water dosing, HVAC gas suction, and fire suppression applications. The continued demand for new installations is expected to aid the market growth over the coming years.