Booming Mining Activities to Drive Australia Water Pumps Market to $ 628 Million by 2023
Growing mining and agriculture
sectors, increasing number of infrastructure projects and rising demand for
sustainable pump solutions to drive Australia water pumps market through 2023
According to TechSci
Research report, “Australia Water Pumps Market By Type, By Application,
Competition Forecast & Opportunities, 2013 – 2023’’, water pumps market in Australia is
projected to reach $ 628 million by 2023, on the back of robust growth of mining
and agriculture sectors in the country. Supportive government policies and
initiatives such as China-Australia
Free trade agreement and pumped hydro energy storage, in addition to growing
investments in the
infrastructure sector, increasing demand for energy efficient water pumps owing
to rising impact of global warming, and growing foreign direct investment, are
expected to further aid market growth during the forecast period.
Based
on product type, Australia water pumps market has been majorly segmented into centrifugal
and positive displacement water pumps. Centrifugal water pumps segment
dominates the country’s water pumps market. Moreover, it is anticipated to
emerge as the fastest growing segment in the coming years, owing to its growing
demand from various end use industries such as mining & mineral processing,
chemical, pulp & paper, etc. Additionally, centrifugal water pumps are used
in domestic and swimming pool application, water and wastewater treatment as
well as oil refineries. Increasing foreign
direct investment, growing adoption of solar water pumps and rising Australian
government’s sales and service income from the agriculture and mining
industries are some of the other key factors which are likely to positively
influence the water pumps market in Australia in the coming years.
“Western
Australia is the largest demand generating region for water pumps in the
country, owing to huge mining and agriculture activities in the region.
Presence of iron, coal, gold, silver and copper mining industry coupled with
strong existence of agricultural industry in Queensland, Western Australia and New
South Wales regions is expected to boost the sales of water pumps in the
country during the forecast period.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Australia Water Pumps Market By Type, By Application,
Competition Forecast & Opportunities, 2013 – 2023’’ has evaluated the future growth
potential of water pumps market and provides statistics and information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in Australia water
pumps market.
About TechSci Research
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