Horizontal Multistage Pumps Market Share

On the basis of geographical analysis, the global horizontal multistage pumps market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is likely to dominate majority revenue share by 2037, backed by growing demand for water pumps for irrigation, waste water treatment, and other applications. The high population in the APAC region is estimated to play a crucial role in the growth of the market. Moreover, the growing water scarcity in the region, is further estimated to boost the market growth. According to the data by the UNESCO, two-thirds of the global population live under water scarcity for at least one month per year, out of which, about 50% of these people live in China and India. The market in the Middle East and Africa region is anticipated to gain a modest market share throughout the forecast period owing to the shortage of water in majority parts in the region.