Sea Water Pumps Market Outlook, Growth Opportunity & Demand Analysis during Forecast 2022 to 2028
The market for sea water pumps was estimated to be worth USD 1.3 billion in 2022. Due to the increasing use of sea water pumps for a range of applications, the market as a whole is predicted to develop at a moderate CAGR of 4.3% between 2022 and 2028, reaching a valuation of approximately US$ 1.6 Billion by that time.
Large, strong pumps called sea water pumps are used in a variety of applications to move or circulate sea water. They are increasingly being employed in oil refineries, desalination plants, and ship water cooling systems.
Large, strong pumps called sea water pumps are used in a variety of applications to move or circulate sea water. They are increasingly being employed in oil refineries, desalination plants, and ship water cooling systems.
The global market for sea water pumps is experiencing strong growth thanks to the shipping sector's quick expansion. The bulk of goods in the world are currently shipped by sea. Nations therefore often upgrade their fleets.
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Key Takeaways of Sea Water Pumps Market Study
The centrifugal sea water pumps segment is expected to hold major share of the global sea water pumps market value as compared to positive displacement sea water pumps. On the basis of end use, the ships segment is expected to hold prominent value share of the global sea water pumps market. These pumps are used in weight transfer function, firefighting, bilge pumping, and high pressure pumping an air conditioners. By sales channel, offline sales channel is estimated to remain a key segment on the back of consumer preference towards customized sea water pumps. Asia Pacific is projected to hold prominent market share in terms of value in the global sea water pumps market. This growth is being propelled by rapid increase in ship building in countries such as China, South Korea, and Japan. These countries hold 70% share of the ship building market. However, the Middle East & Africa sea water pumps market is expected to project lucrative growth during the forecast period. This growth is attributable to increasing investments for desalination plants in the region.
“Sea water pumps are utilized in a variety of applications, ranging from ship building to desalination plants. Each of the applications has a different requirement, and therefore, enterprises are developing products as per specific demand.”
Competitive Landscape
The sea water pumps market is highly competitive in nature with leading market players constantly upgrading their product portfolios. They have adopted various organic and inorganic strategies such as mergers, partnerships, new product launches and collaborations and acquisitions to dominate the market. For instance,
In 2018, Allweiler GmbH, part of CIRCOR International Inc., introduced new compact marine centrifugal pumps solutions for ship engine rooms. In June 2021, Wilo opened a new assembly plant in Kuala Lumpur, Malaysia, to supply wilo pumps across the entire SEA region. In September 2019, INDAR delivered its motor-pump sets for the largest desalination plant (Carlsbad) in the USA.
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Sea Water Pumps Market by Category
By Product:
Centrifugal Pumps Positive Displacement Pumps
By Operation:
Submersible Non-submersible
By End Use:
Ships Ballast Transferring Firefighting Bilge Pumping High Pressure Deck Washing/Engine Cooling Air Conditioning Desalination Plants Oil Refineries
By Flow Rate:
1 – 50 M3/H 51 – 150 M3/H 151 – 350 M3/H 351 – 500 s M3/H Above 500 M3/H
By Region:
North America Latin America Europe Japan APEJ MEA