Jan 14th, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Electric Condensate Pump Market.
The Electric Condensate Pump market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around x % during the forecast period.
A condensate pump is known as a type of centrifugal pump which is used to collect and disperse the hot water and liquid produced by condensation from heating systems from the production of refrigerated air. Electric condensate pumps can be categorized as 115 & 120 V, 230 V, and others.
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By application, the electric condensate pump market has been bifurcated into air conditioning, refrigeration, and ice machine, condensing gas furnaces, and others.
Under these, the air conditioning segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.
The market growth can be attributed to the increasing demand for air conditioners in developing regions.
By region, the market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period.
The regional growth can be attributed to increasing product demand in air conditioning and refrigeration & ice machines in developing countries such as China and India.
The market growth in North America and Europe regions is expected to be driven by high demand for advanced condensate pumps coupled with the presence of key market players such as Pentair plc (US) and Aspen Pump (UK).
The covid-19 outbreak posed significant challenges on the air conditioning and refrigeration machines sector across geographies. It impacted the growth of the electric condensate pump market negatively as the imposition of lockdown and trade restrictions affected the product supply and demand amid the pandemic.
Key players operating in the Electric Condensate Pump market are-
Little Giant Ladder systems (The U.S),
Hartell (The U.S),
Shippensburg Pump Co., Inc. (The U.S),
DiversiTech (The U.S),
Sauermann Group (The U.S),
Pentair plc (The U.S),
Aspen Pump (UK),
Zoeller (The U.S),
Beckett (The U.S),
Crane Pumps & Systems, Inc (The U.S),
Armstrong International, SA (The U.S), and
Saniflo (The U.S).
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Features of the Report:
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Electric Condensate Pump Market analysis report discusses the following heads in great detail:
Market structure: Overview, industry life cycle analysis, supply chain analysis
COVID-19 Impact Assessment
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors.
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