by Market overview:
The North and Latin America water pumps market consists of various products like submersible pumps, suction pumps, self-priming pumps, specialty pumps and centrifugal pumps which find extensive applications across industries like residential, commercial and industrial sectors for purposes such as pressure boosting, filtration, circulation, mining dewatering etc. Water pumps help in the transfer of water efficiently by overcoming pressure differentials using mechanical energy input. Rising construction activities along with growing industrialization and improving living standards have propelled the demand for various water pumps in the region.
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. Wilo leads the market with its innovative products and strong distribution network across the region.
Growing demand: rapid urbanization and industrial expansion especially in developing nations like Brazil, Mexico etc has increased the North And Latin America Water Pumps Market Demand which has propelled the sales of water pumps. Moreover, the rising focus on water & wastewater management has also fueled their adoption.
Global expansion: Major players are expanding their global footprint through mergers & acquisitions and new facilities to strengthen their presence in high growth markets. For instance, Xylem acquired Prime Equipment Group in 2021 to enhance its industrial pump portfolio.
Market Drivers:
One of the key driver for the market’s growth is the ongoing infrastructure development activities. Large scale investments are being made by governments on water supply projects, irrigation works, power plants etc which involve extensive use of water pumps. The growing construction of commercial and residential projects especially in urban regions is another major factor driving their sales in the region.
The current geopolitical situation is impacting the growth of The North And Latin America Water Pumps Market Size And Trends in several ways. The rising political tensions and economic uncertainties in some parts of Latin America are dampening industrial activities and infrastructure development projects, which are key end-use sectors for water pumps. Economic sanctions and trade restrictions imposed by the USA on some Latin American countries are further weakening their economies and investment capabilities. This is negatively impacting the demand growth for water pumps from the industrial and municipal segments in those nations. However, growing defence budgets and infrastructure spending by governments to boost domestic economic activities offer new opportunities. Countries are seeking to reduce import dependence and enhance self-reliance by promoting local pump manufacturing industries through incentives and support programs. This is benefiting regional pump manufacturers. Additionally, rising crude oil production and exploration activities present new prospects for submersible pumps demand despite ongoing price and output volatility.
The United States dominates the North And Latin America Water Pumps Market in terms of value, contributing over 50% revenue currently. This is owing to its huge industrial base, extensive water management infrastructure, and massive municipal & agricultural sectors which require continuous investments in new and replacement pumps. Mexico is another major regional market with significant demand from oil & gas, mining, and power industries. Brazil accounts for over 15% market share on the back of large-scale investments in water supply & treatment projects, urbanization, and industrialization. Continuous population growth, urban migration, and economic development programmes of governments are expected to drive the largest growth in water pumps requirement from Brazil over the coming years.
The fastest growing country market for water pumps in the North And Latin America region is expected to be Colombia during the forecast period. This can be attributed to heavy investments planned by the government to expand access to drinking water and sanitation across both urban and rural areas. Mega hydropower and infrastructure projects are also boosting pump adoption from construction and industrial end-use industries. Furthermore, rising petrochemical and mining activity along with positive GDP growth projections make Colombia an attractive market with high double-digit growth rates for water pumps over the next years. Strengthening of regional trade relationships and overseas partnerships would offer additional opportunities for pumping solution providers targeting this rising economy.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
