According to a new market report published by Transparency Market Research on the sewage pump market for the forecast period of 2019–2027, the global sewage pump market is expected to reach ~US$ 16.9 Bn by 2027, expanding at a CAGR of ~7% from 2019 to 2027. In terms of volume, the global sewage pump market is expected to reach ~29 million units by 2027, at a CAGR of ~6% during the forecast period of 2019-2027. Asia Pacific held a prominent share of the sewage pump market in 2018.
Globally, the construction industry is expanding in Asia Pacific, Europe, North America, and GCC. Residential construction is increasing with the rise in population. Rise in residential construction is increasing the number of wastewater treatment plants, which is increasing sewage pump sales. As per the World Bank, global manufacturing value added (MVA) has increased from US$ 12.3 trillion in 2016 to US$ 13.2 trillion in 2017, with a Y-O-Y growth of 7.3%.
The construction industry in North America grew from ~US$ 1.1 Bn in 2016 to ~US$ 1.3 Bn in 2019, at a CAGR of 3.5%. Rise in residential construction is increasing the number of treatment plants that is driving the demand for sewage pumps. In the U.S., although the volume of wastewater has decreased, the nature of wastewater of the 21st century has less liquid, and more solids and disposables. Hence, good quality sewage pumps are required for sewage transportation.
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In Europe, the construction industry is in a decline. It was valued at US$ 2.5 Bn in 2016, reached US$ 5 Bn in 2017, and decreased to US$ 3.6 Bn in 2018, at a CAGR (2016-18) of 18.8%. EUROCONSTRUCT forecasts the construction industry to decline in Europe from US$ 2.2 Bn in 2019 to US$ 1.6 Bn in 2021, at a CAGR (2019-21) of -14.2%. However, as per FIEC (European Construction Industry Federation) in the Big Five Countries, the number of building permits in residential construction has increased from 878,562 in 2014 to 1,103,431 in 2018, at a CAGR of 5.9%. This is increasing wastewater treatment plants in Europe and also increasing pump sales.
In Germany, the construction market was valued at US$ 368.9 Bn in 2016 and reached US$ 451.0 Bn in 2018, expanding at a CAGR of 10.6%. In 2019, the industry is forecast to reach US$ 476.0 Bn, with a Y-O-Y growth of 5.5%.
