Market study: Egyptian low-hp centrifugal water pump market expected to grow at CAGR of 5.1%
The below 30hp centrifugal water pumps market in Egypt is anticipated to expand at a steady CAGR of around 5.1% over 2015-2020, a new market study says.
Growth of the market is mainly driven by the increasing investment in housing construction, infrastructure development, expansion of water supply network, and increase in the agriculture initiative activities, according to research by Future Market Insights.
The below 30hp centrifugal water pump market in Egypt is anticipated to create an absolute dollar opportunity of around $8 million (€7.35m) between 2014 and 2020.
The total value of the centrifugal water pump market is expected to reach $37.1 million by the end of 2020.
Centrifugal water pumps account for more than 50% share of the overall pumps market and are widely used in a number of small and large scale industrial applications, such as power, wastewater treatment, and chemicals.
The use of centrifugal water pumps for domestic and agriculture purposes makes them even more attractive.
In addition, the need for new water sources is expected to lead to a rise in the sales of centrifugal water pumps that carry enhanced capacity and efficiency needed for agriculture and domestic applications.
Increasing cost of energy and growing environmental awareness among end-users are likely to drive the demand for cost-effective and energy-efficient centrifugal water pumps over the forecast period.
The full market study is available here.