According to a recent Future Market Insights report, “Industrial Pumps Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014 – 2020,” Asia Pacific (APAC) is the most lucrative region for pump growth.
China, India and other Asian and African countries are experiencing robust investments into infrastructure, which is expected to aid in increasing industrial output; in-turn driving growth for industrial pumps.
Demand for industrial pumps from process and manufacturing industries is expected to drive growth of the industrial pumps market in developed regions such as North America and Europe. Western Europe is expected to witness sluggish market growth however, while Eastern Europe is expected to exhibit relatively stronger growth owing to improving industrial output in chemicals and water treatment industries.
Improving economic conditions in the APAC region are expected to open up enormous potential opportunities for pump manufacturers, as the industrial, automotive and construction industries are likely to witness substantial growth in the coming years.
Middle East expenditure for industrial pumps are expected to rise as the pump sales in this region is expected to gain traction due to investments in desalination plants.