Global Floor Pump Market
The global floor pump market was valued at USD 890.1 Million in 2019 and is projected to reach USD 1,151.5 Million by 2027, expanding at a CAGR of 3.9% during the forecast period. A floor pump is the basic type of pump which functions via hand operated piston. This piston helps draw air into the pump through a value during the up-stroke during the down-stroke, the piston displaces air from the pump into the tire. There are over 350 brands of pumps in India registered under Bureau of Energy Efficiency. Submersible pump sets are among the leading pump categories followed by open well submersible pump sets and electric moonset pumps. Major users of industrial pumps include cement, steel and Oil & gas industries as well as public water supply. Small and medium sized pumps in ratings between 0.25-25 hp are used in agriculture and domestic housing. Pumps in rating of up to 500hp are used across industries and categories with 500 hp rating and above are used for municipal / irrigation projects and power plants.
Rising industrial activities in emerging economies is the key factor which will fuel the global floor pumps market. Pumps usage in bicycle, automation, and other domestic activities helps drive market growth. Advancements in automation technology owing to their rising demand in various end-use sectors boost the demand for floor pumps. However, fluctuation in the prices of raw material hinders the market. Increased awareness among people increases growth of the market in upcoming period.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the global floor pump market
- Historical, current and projected market size in terms of value and volume
- Potential & niche segments and regions exhibiting promising growth covered
- Industry drivers, restraints and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Neutral perspective on global floor pump market performance
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