Double Suction Pump Market to See Steady Growth Driven by Asia Pacific Urbanization and Industrialization
• The global double suction pump market is projected to grow from $20 billion in 2023 to $32.57 billion in 2033 due to technological advancements.
• Asia Pacific will dominate the market through 2033 due to urbanization, industrial growth, and water management initiatives in China and India.
• Horizontally split pumps accounted for 55% market share in 2023 with $11 billion revenue. Cast iron was the leading material type with 37% share.
• Water and wastewater treatment was the largest end-use segment in 2023 with 38% share and $7.6 billion revenue.
• Market challenges include high costs and complex setup and maintenance, while opportunities lie in technological developments broadening applications.