Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Hot Water Circulation Pump Market Research Report
Use of advanced technology for reducing human efforts and saving time has increased exponentially since last few decades. Improvement in the design and functioning of equipment has eased the use of such advanced technologies for industrial as well as domestic purposes. The hot water circulating pumps are such devices that allow the flow of hot water through the circuit of pipelines. As per the report published by Market Research Future (MRFR), the global hot water circulation pump market is anticipated to project steady expansion at a CAGR of 3.14% and reach the valuation of USD 22,083.3 Mn by the end of 2021.
Market Drivers and Restraints:
Rise in adoption of energy efficient technologies and rapid infrastructural development are inducing high demand for hot water circulation pump, resulting in the expansion of the global hot water circulation pump market. The hot water circulation pumps are extensively utilized in various industrial sectors. Industrial development is one of the major factors that are driving the expansion of the global hot water circulation pump market.
Hot water circulation pumps are being mandatorily installed in commercial as well as residential buildings. Increasing adoption of hot water circulation pumps for commercial and domestic purposes is propelling the growth of the global hot water circulation pump market. Implementation of regional standards and codes are also projecting to impact positively on the expansion of the global hot water circulation pump market. However, high cost of such pumps and their higher installation and maintenance charges are likely to hamper the growth of the global hot water circulation pump market during the forecast period.
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The global hot water circulation pump market has been segmented on the basis of type and application. Based on type, the hot water circulation pump market has been segmented into single stage pump and multi-stage pump. Based on application, the hot water circulation pump market has been segmented into residential, commercial and industrial. The industrial segment is leading the global hot water circulation pump market owing to the high need for hot water circulation pump in various industries such as food and beverages, textile, power plants, chemicals, pharmaceutical and others.
Geographically, the global hot water circulation pump market is segmented into five major regions such as the U.S., Europe, China, Japan and the rest of the world. The Europe region is leading the global hot water circulation pump market owing to the easy adoption of technologically advanced water circulation systems, presence of well-developed building infrastructure, and the increased manufacturing of advanced hot water circulation pumps in this region. Germany, the U.K., France and Netherlands are the leading countries that are driving the hot water circulation pump market in the Europe region. The hot water circulation pump market in the U.S. region is the second largest in the global market. China is one of the major manufacturers of hot water circulation pump in the global market owing to the presence of high number of domestic players in this region.
The players in the global hot water circulation pump market are focusing on business expansion through increased research and development investment. The strategic mergers and acquisitions along with a well-planned approach towards product development are strengthening the competition among the players of the global hot water circulation pump market.
The major players that are profiled by MRFR in the report on the global hot water circulation pump market are Xylem Inc (the U.S.), Grundfos (Denmark), Emile Egger & Cie SA (Switzerland), Flowserve Corporation (the U.S.), Armstrong Fluid Technology Limited (Canada), BacoEngineering.com (the U.K.), Taco (the U.S.), Calpeda S.p.A (Italy), AUMA Riester GmbH & Co. KG (Germany), and Saer Elettropompe SpA (Italy).