DUBLIN--(BUSINESS WIRE)--The "Global Double Suction Pump Market Report by Type, Material Type, End Use, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global double suction pump market is poised for substantial growth with projections showing an increase from US$ 22.9 billion in 2023 to US$ 32.8 billion by 2032. The market is expected to witness a CAGR of 4.07% during the forecast period of 2023-2032. Driving this growth is the surging global population alongside escalating demand for clean water supply and energy efficiency.
Technological Advancements Propelling Market Expansion
Double suction pumps, known for their efficiency and balanced hydraulic capabilities, are gradually becoming industry standard due to their low maintenance requirements and superior functionality compared to single-suction pumps. Their usage spans diverse applications including industrial water supplies, flood control, and deployment in wastewater treatment and hydropower plants.
The market thrives as urbanization and industrial expansion call for more pure water services for residential, commercial, and agricultural use. Moreover, rising investment in environmental sustainability drives the market forward, with a significant portion of this growth attributable to government initiatives and private sector engagement in water treatment and pollution prevention.
Segmental Insights
The comprehensive market analysis covers various segments by type, material type, end use, and region. The horizontally split double suction pumps are identified as holding a major share, while cast iron remains the predominant material of choice due to its market share lead. The report highlights significant end-use sectors like power generation, water and wastewater treatment, and industrial applications, with water and wastewater treatment taking the lead.
Geographical Landscape
Regional analysis indicates North America as the current leader in the global double suction pump market. Factors contributing to this dominance include the region's growing population and industrial activities boosting consumption. The detailed regional study spans Asia-Pacific, Europe, Latin America, and the Middle East and Africa, with each region showcasing unique growth dynamics.
Competitive Analysis
The global double suction pump market features a competitive landscape with key players driving innovation and growth. The market's expansion is supported by an array of product launches, strategic collaborations, and mergers and acquisitions, signaling a robust and dynamic industry outlook.
The report provides an in-depth overview of market dynamics, competitive scenarios, and the future outlook for the double suction pump market globally. It underscores key trends and opportunities for market players and stakeholders across the value chain. With the current trajectory, the double suction pump market is set to make significant contributions to various industrial domains and support the global economy's drive towards sustainability and efficiency.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $22.9 Billion |
| Forecasted Market Value (USD) by 2032 | $32.8 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
Companies Featured
- Buffalo Pumps Inc. (Ampco-Pittsburgh Corporation)
- Flowserve Corporation
- Habermann Aurum Pumpen GmbH
- Hayward Tyler Ltd.
- Hunan Credo Pump. Co. Ltd.
- ITT Inc.
- KSB SE & Co. KGaA
- Neptuno Pumps Ltda
- Sulzer Ltd.
- Torishima Pump Mfg. Co. Ltd.
- Sintech Precision Products Ltd.
- Xylem Inc.
For more information about this report visit https://www.researchandmarkets.com/r/schlac
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