Australia Water Pumps Market to grow at a CAGR of over 4% during the forecast period
Growing mining and agriculture sectors, increasing
number of infrastructure projects and rising demand for sustainable pump
solutions to drive Australia water pumps market through 2024
According to
TechSci Research report, “Australia
Water Pumps Market By Type, By Application, Competition Forecast &
Opportunities, 2014 – 2024’’, water pumps market in
Australia is projected to grow at a CAGR of over 4% during the forecast period,
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.
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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.
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“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, 2014 – 2024’’ 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.
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