The increasing aquaculture industry is expected to drive the growth of global Fish Pumps in the forecast period, 2024-2028. According to the TechSci Research report, “Fish Pumps Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the Global Fish Pumps Market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the growing demand for the aquaculture industry across the globe along with increasing concerns about health people preferring fish products which will enhance the demand for the fish pump market during the forecasted period.
The Important Aspects of the Fish Pumps Market
Similarly, growing demand for convenience food products such as fish products will further boost the growth of the market over the years. Also, the growing demand for advanced machinery with high productivity and efficiency in the aquaculture industry will drive the growth of the market over the years. Additionally, the increasing awareness and incorporation of fishmeal products in animal diets can boost the growth of the market. Additionally, increasing investments made by the market players for the expansion of their products such as different-size pumps propel the growth of the market in the forecast period. Also, the growing use of automation in pumps due to their efficiency optimization will further be propelling the growth of the market during the forecasted period.
However, a lack of awareness amongst pet fish owners about the availability of various products required for taking care of their fish may hamper the growth of the global fish pump market in the forecast period. Similarly, the increasing cavitation effect in industrial pumps may restrain the growth of the market during the forecasted period. Also, the high cost of fish pumps and the lack of availability of the parts of the fish pumps may hamper the Fish Pumps market growth during the forecast period. Similarly, an increase in consumer appetite for vegan diets may hamper the growth of the market.
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The global Fish Pumps market can be segmented by Pump size, mode of operation, application, and by region.
Based on Pump Size, the global Fish Pumps market can be segmented into 2.5’’ pumps, 3.4’’ pumps, 4.6’’ pumps, 5.8’’ pumps, 6.10’’ pumps, 7.12’’ pumps, and 8.14’’ pumps. The 2.5’’ pumps segment is expected to dominate the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. Growing demand for transporting small pieces of seafood and demand for lightweight, perfect hatcheries is expected to boost the growth of the market during the forecasted period. Similarly, the growing demand for food due to increasing population and rapid urbanization can enhance the demand for food security which will increase the demand for fish products and this, in turn, will drive the growth of the market during the forecasted period.
Based on Application, the market can be divided into Fishing, Aquaculture. The Aquaculture segment is expected to dominate the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. The growing demand for an established aquaculture industry with advanced equipment will increase operational efficiency to deal with the large volume of fish and this in turn is anticipated to drive the growth of the market over the years. Similarly, growing innovations across food sectors that cater to varying requirements of target customers turn out to be an influential factor in driving the growth of the market over the years.
Major companies are operating in the global Fish Pumps market:
- Merck & Co. Inc.
- PG Flow Solution As.
- MMC First Process As.
- Inventive Marine Products Limited.
- MJOS Metallvarefabrikk As
In May 2022, the Indian Council for Agricultural Research’s (ICARs) National Bureau of Fish Genetic Resources (NBFGR) took a new initiative to set up a nano aquarium in Lakshadweep. The concept of tabletop aquaria will help to encourage the native community of Lakshadweep to develop such aquaria for business and generate more income.
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“North America is expected to dominate and register the highest growth in the Global Fish Pumps Market on account due to the growing demand for fish and seafood by expanding middle class in the region. Similarly, the growing feed and livestock industry which will demand meat, milk, and egg consumption significantly increased the demand for fish pump markets during the forecasted period. Additionally, growing awareness about the usage of fish in livestock feed applications will further boost the growth of the market over the years. Also, increasing production via aquaculture will further demand fish pumps market across the region. Similarly, growing demand for prevention of stagnation and smooth water circulation in the fisheries industry and handling water with fish waste has led to an increase in demand for fish pumps thereby creating lucrative opportunities for market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Fish Pumps Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Pump Size (2.5’’ pumps, 3.4’’ pumps, 4.6’’ pumps, 5.8’’ pumps, 6.10’’ pumps, 7.12’’ pumps, 8.14’’ pumps), By Mode of Operation (Manual v/s Automated), By Application (Fishing, Aquaculture), By Region, and Competition”, has evaluated the future growth potential of global Fish Pumps market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Fish Pumps market.
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