Celebrating the 75th anniversary
From the first pump in 1945 to today's digital solutions, Grundfos celebrated its 75th anniversary. The history of Grundfos began at the end of the Second World War, when Poul due Jensen, the company's founder and engineer, was asked by local farmers if they could buy Pumps. Then, after the war, almost everything was in short supply, so he had to develop and build a perfect water supply system from scratch. The solution has been a great success, and as history has shown.
Global pump market scale further improved.
In its latest research, transparency Market Research (TMR) points out that the global pump market is highly integrated. In order to maintain their market position, major enterprises have strengthened M & A activities while continuously developing new technologies, thus further improving the integration of global pump market.
However, water pump enterprises also see that, in view of the non organic growth of business, the market presents a certain degree of stagnation. In the past few years, the level of competition is low, which has become the main incentive for small enterprises and new enterprises to enter the market.
According to TMR report, from 2017 to 2025, the global pump market will move forward with CAGR of 4.9%, from 43.599 billion US dollars in 2016 to 66.852 billion US dollars in 2025.
This growth should be attributed to the continued increase in water treatment, wastewater recycling and the number of treatment plants around the world, especially in emerging economies.
The increasing industrialization of India and China, together with the increasing demand for clean water, has promoted the application of water treatment technology, which in turn has increased the demand for pumps. In addition, in the home, the water pump can also be used in different occasions such as gardening facilities and water coolers.
The boom in agriculture and construction continues to demand high efficiency pumps. In addition, the efficiency of one-time pumping liquid has become an important factor to stimulate the increase of water pump consumption in the whole industry and construction site. In recent years, the application of water pumps in this field has increased significantly, and it is expected that the same will be true in the next few years. All of these have made positive contributions to the growth of the global pump market.