Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 27 Billion | USD 42 Billion | 4.41% | 2021 |
FrequentlyAsked Questions
The global axial flow pump market growth is anticipated owing to the wide applications the device has in almost all heavy industrial sectors including agriculture, petrochemical, chemical, sewage maintenance, and others. All of these sectors are a few of the largest economy-driving sectors while also being the highest revenue-generating industries.
According to Zion Market Research, the global axial flow pump market size was worth around USD 27 billion in 2021 and is predicted to grow to around USD 42 billion by 2028 with a compound annual growth rate (CAGR) of roughly 4.41% between 2022 and 2028.
The global axial flow pump market is expected to be dominated by Asia-Pacific owing to the high demand for axial flow pumps in regions like China and India which are highly agricultural economies. The increasing use of sewage systems, irrigation, and fishery is expected to drive regional growth.
The global axial flow pump market houses players like Grundfos, Xylem, Sulzer Ltd., KSB SE & Co. KGaA, Pentair, and Weir Group PLC.
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