[300 Pages Report] The global sea water pumps market size reached around US$ 1.3 Bn in 2022. Owing to the rising adoption of sea water pumps for a multitude of applications, the overall market is anticipated to grow at a moderate CAGR of 4.3% between 2022 and 2028, totaling a valuation of over US$ 1.6 Bn by 2028.
| Attribute | Details |
|---|---|
| Sea Water Pumps Market Estimated Size in 2022 | US$ 1.3 Billion |
| Sea Water Pumps Market Projected Size in 2028 | US$ 1.6 Billion |
| Sea Water Pumps Market Historical CAGR (2013 to 2021) | 3.2% |
| Sea Water Pumps Market Value-Based CAGR (2022 to 2028) | 4.3% |
Centrifugal pumps will continue to remain the top selling products on account of their various advantages including higher efficiency and lower cost. They are being increasingly employed by end users for a variety of applications.
Regionally, Asia Pacific Excluding Japan (APEJ) dominates the global sea water pumps market with a massive share of 46.9% in 2022. Rising seaborn trade, increasing ship manufacturing activities and heavy presence of leading market players are some of the factors driving the APEJ sea water pumps market.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.0% |
| H1,2022 Projected (P) | 4.0% |
| H1,2022 Outlook (O) | 4.2% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 24 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 16 ↑ |
A half-yearly comparison of the growth forecast for the market of sea water pumps along with the market’s key developments has been presented by Future Market Insights, as countries are investing in oil drilling activities as a result of increasing industrialization and expanding population.
The demand for centrifugal sea water pumps has increased as a result. Similar to this, other desalination plants are being built to meet the growing demand for fresh water. The market for sea water pumps will expand rapidly in the years to come as a result of this.
According to FMI analysis, the change between the BPS values identified in the sea water pumps market in H1, 2022 - Outlook over H1, 2022 Projected shows a decrease of 24 units. Notably, compared to H1, 2021, the market is expected to dip by 16 BPS in H1 -2022.
Key reasons for this change is due to the rise in the development of the ship manufacturing industry, improvement in international trade, and the strict emission regulations by governments of several countries.
In the upcoming years, the market is anticipated to grow as awareness of the provision of pure water and the distillation and treatment of seawater increases. The market is expected to be driven by rising seaborne trade as well as technical developments in this sector over the estimated period.
The global sea water pumps market is set to register a steady CAGR of 4.3% between 2022 and 2028 in comparison to 3.2% CAGR registered from 2013 to 2021.
As per FMI, sales of sea water pumps are anticipated to rise at a significant pace during the forecast period on account of increasing ship building activities, rise in the number of desalination plants, reduction in pimp costs and growing seaborne trade business.
Sea water pumps are powerful pumps used to transfer or circulate sea water in diverse applications. They are being increasingly employed in water cooling systems of ships, desalination plants and oil refineries.
The rapid growth of shipping industry is creating lucrative growth avenues within the global sea water pumps market. Today, most of the world’s merchandise is being transported through sea routes. As a result, countries are continuously upgrading their fleets.
This is in turn boosting the sales of sea water pumps. These pumps are being extensively used in ships for applications like ballast transferring, air conditioning and bilge pumping.
Increasing penetration of industrialization and exploding population are prompting countries to invest in oil drilling activities. As a result, there has been an upsurge in the demand for centrifugal sea water pumps.
Similarly various desalination plants are being launched to cater to the rising fresh water demand. Driven by this, the sea water pumps market will record high growth in the coming years.
Leading players are focusing on introducing innovative digital products made from high corrosion resistance materials. Adoption of modern technologies like internet of things (IoT) in pump monitoring systems is gaining traction. Thanks to these modern technologies, experts can continuously monitor the condition of pumps as well as the flow of water.
In addition, replacement of old pumping systems with new ones and growing adoption of electric sea water pumps will further support the growth of sea water pumps market in the future.
Spurred by aforementioned factors, the sea water pumps market is set to expand 1.23X through 2028.
“Rising Water Scarcity and Increase Number of in Desalination Plants Triggering Sales”
With the rapidly rising population worldwide, water consumption has almost doubled. However, the majority of the available surface water has become undrinkable due to heavy pollution content released from industries and households.
Water scarcity has become such a big threat that various countries are not even able to provide adequate potable water to their citizens. According to the United Nations Children's Fund (UNICEF), 4 billion people experience severe water scarcity for at least one month each year. Furthermore, if proper actions are not being taken, half of the world’s population could be living in areas facing water scarcity by 2025.
Due to the limited drinking water resources, countries have now shifted their focus towards desalination. A large number of desalination plants are being established across the globe to convert sea water into fresh water. There are over 16000 desalination plants in the world as per the World Economic Forum. This is providing impetus to the growth of the sea water pumps.
Desalination plants use sea water pumps to transfer or circulate water through the treatment systems. They are also used for freshwater distribution purposes. Rise in number of desalination plants will eventually boost the sales of sea water pumps in the future.
Various desalination plants are already under construction across large populated regions. For instance, a new installation plant is in progress at Nemmeli Chennai, India which is set to be completed by 2023. The plant will provide a drinking water supply to at least 9 lakh residents.
Similarly, many water treatment companies are launching new desalination plants to provide potable water to rapidly rising population. For instance, IED Water Technologies in partnership with WEB Bonaire launched a new desalination plant on the Caribbean Island of Bonaire.
Expansion of desalination infrastructure across the globe will continue to boost the sales of sea water pumps during the assessment period.
Principal Consultant
Today most of the international trade is being transported by sea. According to the United Nations Conference on Trade and Development (UNCTAD), the volume of maritime trade rose by 3.8% in 2020 to a total of 10.6 billion metric tons.
Rise in seaborne trade has prompted countries and other private transportation companies to expand their fleet size. As a result, there has been a substantial rise in the number of cargo ships, bulk ships and container ships in the world.
Increasing number of ships is spurring the demand for sea water pumps and the trend is likely to continue in the future. These pumps are being used for circulating water in the ships. They provide stability and structural integrity to ships by pumping water in and out of the water ballast.
The rapid expansion of seaborne trade sector along with increasing ship manufacturing activities is anticipated to accelerate the growth of the sea water pumps market during the forecast period.
“Booming Seaborne Trade Spurring Sales of Centrifugal Pumps”
China has emerged as one of the most lucrative markets for sea water pumps during the last few years. The market in the country is driven by the flourishing seaborne trade sector, rise in ship building activities and heavy presence of leading market players.
The dominance of China as a leading exporter of merchandise is expected to remain unparalleled in the world. As per the World Integrated Trade Solutions (WITS), the total export by China reached a massive value of over 2.49 trillion in 2019.
Rise in seaborne trade along with the growth of shipbuilding industry is triggering the sales of centrifugal sea water pumps in the country. These pumps are used for various applications ranging from ballast transferring to engine cooling in ships.
Leading manufacturers based in China are constantly introducing innovative products at lower costs. This is helping them to increase their customer base.
Moreover, increasing investments in oil exploration activities coupled with favorable government support is anticipated to further expand the sea water pumps market in the country during the forecast period.
Amid rising adoption of sea water pumps for diverse applications, APEJ is expected to account for 46.9% of the global market, led by China in 2022.
“Demand for High Pressure Pumps in Desalination Plants Triggering Market Growth”
As per FMI, the sea water pumps market in Saudi Arabia is anticipated to grow at an impressive CAGR over forecast period from 2022 to 2028. The Saudi Arabia sea water pumps market is primarily driven by increasing desalination activities, rise in oil & gas plants and favorable government support.
Countries in the Middle East like Saudi Arabia and UAE mostly rely on desalination water for their daily use. Extreme weather conditions along with limited surface water resources in these countries have facilitated the growth of desalination infrastructures.
Saudi Arabia is home to some of the largest desalination plants including Ras Al Khair and Shuaiba 3, in the world. The country has around 27 desalination plants and is among the leading producers of desalinated water in the world with a daily production capacity of 117 million cubic feet as per the WorldAtlas.
Increase in desalination plants is creating lucrative growth avenues for high pressure sea water pumps in the country. Moreover, the expanding oil and gas industry is tempting various foreign market players to establish their base in Saudi Arabia. This will further boost the growth of the market during the forecast period.
A market share of 25.5% has been projected for the MEA sea water pumps market spearheaded by Saudi Arabia in 2022.
“Rise in Ship Building Activities Fueling Demand for Sea Water Pumps in Japan”
Over the last few years, the sea water pumps market in Japan has experienced significant growth on account of increasing government investments in developing maritime self-defense fleets, presence of leading water pump manufacturers and increasing export of sea water pumps.
Japan is considered as one of the most technologically advanced nations in the world. The country has a well-established ship building industry. With increasing government efforts to expand the country’s maritime transport as well as to increase its warship number, sales of sea water pumps are set to rise at a strong pace during the forecast period.
Moreover, increasing adoption of sea water pumps in water and wastewater management is anticipated to boost the sales of sea water pumps in the country.
Amid increasing employment of sea water pumps in shipbuilding and desalination sectors, Japan is projected to account for around 11.0% share of the global sea water pumps market in 2022.
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“End Users Prefer Centrifugal Sea Water Pumps”
As per FMI, centrifugal sea water pumps will continue to remain top selling product in the global sea water pumps market during the forecast period. The centrifugal sea water pumps accounted for over 60% revenue share in 2020.
Various advantages of centrifugal pumps such as compact size, higher energy efficiency, better reliability and convenient maintenance make them ideal for diverse applications including dewatering or water circulation.
Centrifugal sea water pumps are mostly used in onboard ships for transferring liquid from one point to another. Increasing adoption of centrifugal sea water pumps is anticipated to boost the growth of the market during the forecast period.
“Benefits Offered by Submersible Sea Water Pumps Making It Popular Among End Users”
By operation, the global sea water pumps market has been segmented into submersible and non-submersible. Among these, non-submersible sea water pumps account for the leading share while the submersible sea water pumps segment is likely to grow at a fastest rate during the forecast period.
During the last few years, sales of submersible pumps have risen at a significant pace and the trend is likely to continue in the future. These sea water pumps offer higher efficiency due to the fact that water pressure naturally forces water into these pumps. Besides this, they are effective in reducing noise pollution to a greater extent.
“Sales of Sea Water Pumps to Remain Mostly Concentrated in Ships Segment”
In terms of end use, the global sea water pumps market is segmented into ships, desalination plants and oil refiners. Among these, ships segment accounts for the largest revenue share in 2022 and is projected to grow at a significant pace over the forecast period.
Sea water pumps are being increasingly employed in ships for weight transfer function, firefighting, bilge pumping, engine cooling and several other applications.
Growth of water tourism sector, increase in seaborne trade and growing number of ships are anticipated to boost the sales of sea water pumps during the forecast period.
“Rising Adoption of 1 to 50 M3/H in Shipbuilding Industry Spurring Growth”
In terms of flow rate, sea water pumps market has been categorized into 1 - 50 M3/H, 51 - 150 M3/H, 151 - 350 M3/H, 351 - 500 s M3/H and above 500 M3/H. Among these, 1 to 50 M3/H is anticipated to dominate the sea water pumps market throughout the forecast period.
Increasing employment of 1 to 50 M3/H sea water pumps in the shipbuilding industry is a major factor spurring their sales. Thus, increasing ship building activities across the globe will eventually boost the growth of sea water pumps market through 2028.
The sea water pumps market is highly competitive in nature with leading market players constantly upgrading their product portfolios. They have adopted various organic and inorganic strategies such as mergers, partnerships, new product launches and collaborations and acquisitions to dominate the market. For instance,
| Attribute | Details |
|---|---|
| Historical Data Available for | 2013 to 2021 |
| Forecast Period | 2022 to 2028 |
| Market Analysis | Units for Volume and US$ Million for Value |
| Key Regions Covered | North America; Latin America; Europe; Japan; APEJ and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, Russia, Poland, China, Japan, South Korea, India, ASEAN, Turkey and South Africa |
| Key Segments Covered | Product, Operation, End Use, Flow Rate and Region |
| Key Companies Profiled | KSB SE & Co. KGaA; Xylem Inc.; Sulzer Ltd; Torishima Pump Mfg. Co.; Danfoss A/S, ITT INC.; Flowserve Corporation; Ebara Corporation; WILO SE; Grundfos Holding; The Weir Group PLC; Alfa laval; Kubota Corporation; AxFlow Holding AB; Kirloskar Brothers Ltd.; Franklin Electric Co. Inc.; Tsurumi Manufacturing Co. Ltd.; Schlumberger Limited; Eureka Pumps AS |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The sea water pumps market is estimated to be worth around US$ 1.3 Bn in 2022.
As per FMI, the sea water pumps market is forecast to register a CAGR of 4.3% between 2022 and 2028
The sea water pumps market grew at a CAGR of 3.2% between 2013 and 2021.
Rise in seaborne trade, increasing investments in desalination infrastructure and introduction of advanced products at low costs are some of the key trends shaping the growth of sea water pumps market.
The APEJ sea water pumps market accounts for around 46.9% share in the global sea water pumps market in 2022.
KSB SE & Co. KGaA, Xylem Inc., Sulzer Ltd, Torishima Pump Mfg. Co., Danfoss A/S, ITT INC., Flowserve Corporation, Ebara Corporation, WILO SE, Grundfos Holding, The Weir Group PLC, Alfa laval, Kubota Corporation, AxFlow Holding AB, Kirloskar Brothers Ltd., Franklin Electric Co. Inc., Tsurumi Manufacturing Co. Ltd., Schlumberger Limited, and Eureka Pumps AS are some of the leading players operating in the sea water pumps market.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Channel and Product Analysis
4. Key Success Factors
4.1. Product Adoption Analysis
5. Market Background
5.1. Macro-Economic Factors: Global GDP Outlook
5.2. Overview Of Global Shipbuilding Market
5.3. Worldwide: Number Of Oil Analysis Rigs For The Year 2021
5.4. Overview Of Desalination Plants
5.5. Parent Market Overview
5.6. Forecast Factors
6. Market Demand Analysis 2014-2021 and Forecast, 2022-2029
6.1. Historical Market Volume Analysis
6.2. Current and Future Market Volume Projections
6.3. Y-o-Y Growth Trend Analysis
7. Market Demand (in US$ Th) Analysis 2014-2021 and Forecast, 2022-2029
7.1. Historical Market Value (US$ Th) Analysis
7.2. Current and Future Market Value (US$ Th) Projections
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Analysis 2014-2021 and Forecast 2021-2028, by Product
8.1. Introduction
8.1.1. Market Value Share Analysis By Product
8.1.2. Y-o-Y Growth Analysis By Product
8.2. Historical Market Size and Volume Analysis By Product 2014-2021
8.3. Market Size and Volume Forecast By Product 2022 – 2029
8.3.1. Centrifugal Pumps
8.3.2. Positive Displacement Pumps
8.4. Market Attractiveness Analysis By Product
9. Global Sea Water Pump Market Analysis By End Use
9.1. Introduction
9.1.1. Market Value Share Analysis By End Use
9.1.2. Y-o-Y Growth Analysis By End Use
9.2. Historical Market Size and Volume Analysis By End Use 2014-2021
9.3. Market Size and Volume Forecast By End Use 2022 - 2029
9.3.1. Ships
9.3.2. Desalination Plants
9.3.3. Oil Refineries
9.4. Market Attractiveness Analysis By End Use
10. Global Sea Water Pump Market Analysis By Operation
10.1. Introduction
10.1.1. Market Value Share Analysis By Operation
10.1.2. Y-o-Y Growth Analysis By Operation
10.2. Historical Market Size and Volume Analysis By Operation 2014-2021
10.3. Market Size and Volume Forecast By Operation 2022 – 2029
10.3.1. Submersible Pumps
10.3.2. Non Submersible Pumps
10.4. Market Attractiveness Analysis By Operation
11. Global Sea Water Pump Market Analysis By Flow Rate
11.1. Introduction
11.1.1. Market Value Share Analysis By Flow Rate
11.1.2. Y-o-Y Growth Analysis By Flow Rate
11.2. Historical Market Size and Volume Analysis By Flow Rate 2014-2021
11.3. Market Size and Volume Forecast By Flow Rate 2022 – 2029
11.3.1. 1 to 50
11.3.2. 51 to 150
11.3.3. 151 to 350
11.3.4. 351 to 500
11.3.5. Above 501
11.4. Market Attractiveness Analysis By Flow Rate
12. Global Sea Water Pump Market Analysis By Region
12.1. Introduction
12.1.1. Market Value Share Analysis By Region
12.1.2. Y-o-Y Growth Analysis By Region
12.2. Historical Market Size and Volume Analysis By Region 2014-2021
12.3. Market Size and Volume Forecast By Region 2022 – 2029
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. MEA
12.3.5. Japan
12.3.6. APEJ
12.4. Market Attractiveness Analysis By Region
12.4.1. By Operation
12.4.2. By Flow Rate
12.4.3. By End Use
12.4.4. By Application
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Product
12.5.3. By End Use
12.5.4. By Operation
12.5.5. By Flow Rate
12.5.6. By End Use
12.5.7. By Application
12.6. Market Trends
12.7. Drivers and Restraints – Impact Analysis
13. North America Sea Water Pump Market Analysis
13.1. Introduction
13.2. Market Pricing
13.3. Historical Market Size and Volume Analysis By Market Segments, 2014-2021
13.4. Market Size and Volume Forecast By Market Segments, 2022 – 2029
13.4.1. By Country
13.4.1.1. U.S.
13.4.1.2. Canada
13.4.2. By Product
13.4.3. By End Use
13.4.4. By Operation
13.4.5. By Flow Rate
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Product
13.5.3. By End Use
13.5.4. By Operation
13.5.5. By Flow Rate
13.6. Market Intensity
14. Latin America Sea Water Pump Market Analysis
14.1. Introduction
14.2. Market Pricing
14.3. Historical Market Size and Volume Analysis By Market Segments, 2014-2021
14.4. Market Size and Volume Forecast By Market Segments, 2022 – 2029
14.4.1. By Country
14.4.1.1. Brazil
14.4.1.2. Mexico
14.4.1.3. Rest of LA
14.4.2. By Product
14.4.3. By End Use
14.4.4. By Operation
14.4.5. By Flow Rate
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Product
14.5.3. By End Use
14.5.4. By Operation
14.5.5. By Flow Rate
14.6. Market Intensity
15. Europe Sea Water Pump Market Analysis
15.1. Introduction
15.2. Market Pricing
15.3. Historical Market Size and Volume Analysis By Market Segments, 2014-2021
15.4. Market Size and Volume Forecast By Market Segments, 2022 – 2029
15.4.1. By Country
15.4.1.1. Russia
15.4.1.2. Italy
15.4.1.3. Spain
15.4.1.4. Germany
15.4.1.5. Netherland
15.4.1.6. Rest of EU
15.4.2. By Product
15.4.3. By End Use
15.4.4. By Operation
15.4.5. By Flow Rate
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Product
15.5.3. By End Use
15.5.4. By Operation
15.5.5. By Flow Rate
15.6. Market Intensity
16. APEJ Sea Water Pump Market Analysis
16.1. Introduction
16.2. Market Pricing
16.3. Historical Market Size and Volume Analysis By Market Segments, 2014-2021
16.4. Market Size and Volume Forecast By Market Segments, 2022 – 2029
16.4.1. By Country
16.4.1.1. China
16.4.1.2. South Korea
16.4.1.3. Australia
16.4.1.4. Vietnam
16.4.1.5. Rest of APEJ
16.4.2. By Product
16.4.3. By End Use
16.4.4. By Operation
16.4.5. By Flow Rate
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Product
16.5.3. By End Use
16.5.4. By Operation
16.5.5. By Flow Rate
16.6. Market Intensity
17. Japan Sea Water Pump Market Analysis
17.1. Introduction
17.2. Market Pricing
17.3. Historical Market Size and Volume Analysis By Market Segments, 2014-2021
17.4. Market Size and Volume Forecast By Market Segments, 2022 – 2029
17.4.1. By Product
17.4.2. By End Use
17.4.3. By Operation
17.4.4. By Flow Rate
17.5. Market Attractiveness Analysis
17.5.1. By Product
17.5.2. By End Use
17.5.3. By Operation
17.5.4. By Flow Rate
17.6. Market Intensity
18. MEA Sea Water Pump Market Analysis
18.1. Introduction
18.2. Market Pricing
18.3. Historical Market Size and Volume Analysis By Market Segments, 2014-2021
18.4. Market Size and Volume Forecast By Market Segments, 2022 – 2029
18.4.1. By Country
18.4.1.1. GCC
18.4.1.2. Africa
18.4.1.3. Turkey
18.4.1.4. Rest of MEA
18.4.2. By Product
18.4.3. By End Use
18.4.4. By Operation
18.4.5. By Flow Rate
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Product
18.5.3. By End Use
18.5.4. By Operation
18.5.5. By Flow Rate
18.6. Market Intensity
19. Emerging Countries Analysis
19.1. Introduction
19.1.1. Market Proportion Analysis
19.1.2. Global Vs. Country Growth Comparison
19.2. China Market Analysis
19.2.1. Market Proportion Analysis By Market Taxonomy
19.2.2. China Market Volume (Units) Analysis By Market Taxonomy
19.2.2.1. By Product
19.2.2.2. By End Use
19.2.2.3. By Operation
19.2.2.4. By Flow Rate
19.2.3. China Market Value (US$ Th) Analysis By Market Taxonomy
19.2.3.1. By Product
19.2.3.2. By End Use
19.2.3.3. By Operation
19.2.3.4. By Flow Rate
19.3. Saudi Arabia Market Analysis
19.3.1. Market Proportion Analysis By Market Taxonomy
19.3.2. Saudi Arabia Market Volume (Units) Analysis By Market Taxonomy
19.3.2.1. By Product
19.3.2.2. By End Use
19.3.2.3. By Operation
19.3.2.4. By Flow Rate
19.3.3. Saudi Arabia Market Value (US$ Th) Analysis By Market Taxonomy
19.3.3.1. By Product
19.3.3.2. By End Use
19.3.3.3. By Operation
19.3.3.4. By Flow Rate
20. Competition Analysis
20.1. Competition Dashboard
20.2. Competition Benchmarking
20.2.1. KSB SE & Co. KGaA
20.2.2. Xylem Inc.
20.2.3. Sulzer Ltd
20.2.4. Torishima Pump Mfg. Co.
20.2.5. Flowserve Corporation
20.2.6. Ebara Corporation
20.2.7. WILO SE
20.2.8. Grundfos Holding
20.2.9. The Weir Group PLC
20.2.10. Alfa laval
20.2.11. Kubota Corporation
20.2.12. AxFlow Holding AB
20.2.13. Kirloskar Brothers Ltd.
20.2.14. Franklin Electric Co. Inc.
20.2.15. Danfoss A/S
20.2.16. ITT INC.
20.2.17. Tsurumi Manufacturing Co. Ltd.
20.2.18. Schlumberger Limited
20.2.19. Eureka Pumps AS
21. Assumption & Acronyms
22. Research Methodology
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Sea Water Pumps Market
