North And Latin America Water Pumps Market Driven by Rising Industrialization
The North and Latin America water pumps market has grown exponentially owing to rapid industrialization in the region. Water pumps find widespread application in industrial sectors like oil & gas, construction, mining, power generation, and more. They are used to transfer water and other liquids within industrial facilities efficiently. Rising disposable incomes and improved infrastructure have driven the domestic and commercial segments as well. As a result, requirements for centrifugal, submersible and other pump types have surged in North and Latin American countries.
The 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.
North And Latin America Water Pumps Market Demand help transport fluids in various industries efficiently. Their low maintenance and ability to handle bulk volumes make them suitable for indoor and outdoor applications. Better living standards and rapid urbanization have increased the uptake of water pumps for household and municipal water supply systems across the Americas. The growing demand for energy and processed food & beverages has also boosted their necessity in the industrial domain.
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.
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