The Middle East pump market was valued at $7.03 billion in 2021 and is expected to reach $9.60 billion by 2027, growing at a CAGR of 5.33%.
Chicago, March 09, 2022 (GLOBE NEWSWIRE) -- [236 Pages Report] According to the Arizton’s latest research report the Middle East Pump Market, rising number of modular construction projects, depleting groundwater levels, surge in infrastructure development projects are the major drivers.
Middle East Pump Market Research Report Includes Size, Share, Trends Analysis, Competitive Landscape, Growth Potential, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share, & Forecast, 2022-2027
Middle East Pump Market Report Scope
Single-stage, Multi-stage, Submersible, and Turbine
Vane, Gear, Lobe and Peristaltic
26 key vendors are profiled in the report
Saudi Arabia, Turkey, UAE, and Rest of Middle East
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The Middle East pump market would realize an absolute growth of approximately 37% during 2021-2027.
Centrifugal pumps segment accounted for majority share of the Middle East pump market in 2021 and is expected to grow at a CAGR of over 5% in the upcoming years.
The single stage centrifugal pumps segment dominates the market with one-third of market share in 2021 and is expected to grow at a CAGR of almost 7% during 2021-2027.
In terms of end-users, industrial segment holds the largest share in the Middle East pump market in 2021 and is expected to add over $2 billion revenue by 2027.
Oil & Gas industry holds a share of 23.68% and is expected to add approximately $1 billion revenue during the forecast period.
Market Size & Forecast by Revenue | 2021−2027
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis product, end-users, and Country
Competitive Landscape – 26 key vendors are profiled in the report
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Middle East Pump Market – Trends & Opportunities
Middle East is expected to witness a high demand for prefabricated buildings during the forecast period. The rise in the commercial adoption of prefabricated construction, pumps vendors will leverage such growth opportunities and offer their products to prefabricated building manufacturers that operate in this region. Many vendors have plans to expand their business by catering to the demand for pumping systems used by prefabricated building manufacturers. Therefore, it will contribute to the speedy growth in infrastructural activities across the region, which will drive the Middle East pumps market in the next 5 years. Also, in the recent years, the centrifugal pumps exports have witnessed exponential growth in the Middle East pump market. Also, the rapid development across the industrial environment in the UAE is also expected to accelerate the demand for centrifugal pumps.
Key Drivers and Trends Fueling Market Growth:
High Demand from Water & Wastewater Treatment Plants
Growing Potential for Pump Exports
Middle East Pump Market – Competitive Landscape
Middle East pump market players are actively investing in R&D initiatives to develop fundamental technologies to improve their core product technology and gain a competitive edge. Moreover, local marketing campaigns play a vital role in regional markets as consumers often prefer local providers over their global competitors. The Middle East pump market have international players such as KSB and Wilo and local players. Local players are expected to dominate the market as they have the optimum techno-economic capacity and rational production activities. Vendors that offer an extensive range of pumps for several industries, such as oil and gas, petrochemical, chemical, and power generation, enjoy a competitive edge in the Middle East pump market. Also, the ability to use product portfolios, solutions, and services to meet customer requirements serves as a key competitive strength to players in the Middle East pumps market.
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