May 28, 2020 (The Expresswire) — The global axial flow pump market size will gain impetus in the forecast duration owing to the increasing investments in wastewater treatment worldwide. A report on this market by Fortune Business Insights™ titled, “Axial Flow Pump Market Size, Share and Industry Analysis, By Type (Miniwatt, High Power), By Application (Wastewater and Water, Oil and Gas, Petrochemical and Chemical, Food and Beverages, Mining, Others) and Regional Forecast, 2019-2026,” presents an elaborate analysis with prime emphasis on key industry insights.
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According to the present axial flow pump market trends, the mini watt axial flow pump segment will earn a high axial flow pump market share with respect to type. This is because of the high demand from various end-user segments, further attributed to the technological advancements in the past few years.
Highlights of the Report:
Some of the keyaxial flow pump market manufacturers include:
Asia Pacific to Dominate Market with Increasing Agricultural Cultivation Activities
On a geographical basis, the global market is categorized into five major regions, namely Europe, Latin America, Asia Pacific, the Middle East and Africa, and North America. These regions are further sub-categorized into countries. Among these, a dominant market share has been earned by the Asia Pacific on account of the rise in agricultural cultivation activities and a surge in exploration activities in the region. India and China are dominating the industrial and agricultural sectors in the region and are thus the major nations promoting the regional market growth.
Rise in Oil Field Exploration Activities Worldwide to Promote Growth
The most significant factor boosting the market growth is the increasing investments made in wastewater management. In addition to this, the rise in oil field activities is likely to help attract highmarket revenue in the forthcoming years. Moreover, the rapid rate of industrialization and urbanization worldwide is prognosticated to help augment the overall market growth in the coming years.
However, the inefficiency caused by viscous fluids while operating pumps may hamper the market size in the forecast period. This, coupled with the difficulty faced by these pumps to function under high pressure, may also restrict the market growth in the future.
Merger and Acquisition Strategies Adopted by Players will Bode Well for Players
Major market vendors are focusing on the development of new products to gain traction. Moreover, companies are also entering into strategic collaborations, mergers and acquisitions, contracts and agreements, and others to make their mark in the top list and toughen the competition for other players.
Some of the key industry developments in the axial flow pump market are:
February 2019 The leading designer and manufacturer of axial and centrifugal flow pump, namely Rheinhutte Pumpen Group, were acquired by ITT by an agreement announced in February this year. This agreement will help promote the presence of ITT in the European nations with a range of expanded products and further enhance the manufacturing, engineering, pump, channel, and testing capabilities of the overall axial flow pump market in the region.
April 2019 -Zehnder Pumpen GmbH, A German pump producing company, was acquired by SFA Group in April. This acquisition is anticipated to help multiply the sale of the pump, especially in Germany. Besides this, this strategy will also help to increase the global presence of the company by taking help from 60 distributors worldwide.