The North and Latin America water pumps market comprises pumps that circulate, distribute and deliver water in several residential, commercial, and industrial applications. Various types of water pumps utilized in the region include centrifugal pumps, positive displacement pumps, and roof-based pumps. The rising construction spending, primarily in countries like the U.S, Canada, Brazil and Mexico, has augmented the adoption of water pumps across municipal and domestic facilities. Also, increasing initiatives to expand agricultural irrigation are boosting the sales of agro-based water pumps.
North and Latin America Water Pumps Market is estimated to be valued at US$ 12.72 Bn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the North and Latin America water pumps market are KSB AG, Ruhrpumpen Group, Flowserve Corporation, Kirloskar Brothers Limited, Sulzer AG, Xylem Inc., Ebara Corporation, Wilo SE, GRUNDFOS, and The Weir Group PLC. These players are focusing on new product innovations and mergers & acquisitions to strengthen their market presence.
There is a high demand for North And Latin America Water Pumps Market Demand the agricultural, residential, municipal and industrial sectors in the region. Rapid urbanization along with the rising focus on water & wastewater management infrastructure development provides significant opportunities for market players.
Several North and Latin American manufacturers are also exploring opportunities in international markets through joint ventures and expansion of their distribution networks in countries across Asia Pacific and the Middle East. This allows them to further cement their position in the global water pumps industry.
Market Drivers
Increasing investments in water & wastewater infrastructure projects in cities across North and Latin America is a key driver for the market. Rapid urbanization has necessitated improved water supply, distribution and treatment facilities. This is augmenting the adoption of various types of water pumps in municipal networks and industrial plants.
Market Restraints
High initial costs associated with the installation and maintenance of advanced water pumping systems hamper the market growth to some extent. Also, availability of cheaper pumps from Asian markets pose a threat to the profit margins of regional manufacturers.
Segment Analysis
In the North And Latin America Water Pumps Market, the Submersible pumps segment dominates holding around 35% share of the total market. Submersible pumps are preferred for pumping water from lakes, tanks, cisterns, wells and other waterbodies as they can be easily installed and operated underwater without the requirement of priming and lifting. They find applications in draining flooded areas, dewatering construction sites, sewage systems, etc. The end suction pumps segment is also significant and growing at a steady pace. These pumps are commonly used in industrial, commercial and municipal applications for water transfer and circulation in heating, ventilation and air conditioning systems.
Regional Analysis
The United States dominates the North And Latin America Water Pumps Market accounting for over 50% market share. Growth in the residential sector due to rising population and housing units along with the increased focus on water infrastructure projects is fuelling demand for water pumps in the country. Mexico enjoys substantial growth and is emerging as a major manufacturing hub in the region. Brazil possesses considerable potential backed by investments in agriculture, power generation and mining industries. Development of water transportation facilities and power generation plants across Canada and other Latin American nations is augmenting the regional market expansion.
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1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it