The global fish pumps market size was estimated to be valued at USD 129 million in 2022 and is projected to reach USD 186 million by 2027, recording a CAGR of 7.6% in terms of value.
Demand for advanced machinery with high productivity and efficiency
Industrial pumps and components play a crucial role in transferring fluid from one point to another. The increased growth in the fish transfer pumps is witnessed worldwide, mainly due to the advanced technology, presence of key players, and demand for process optimization. Various recent trends such as automation, Internet of Things (IoT) disruption, product innovation, and the outbreak of the COVID-19 pandemic are shaping the market and creating huge scope for the players to move forward. Due to globalization, there has been a growing awareness among consumers regarding various automation trends. Industrial pump manufacturing companies are expanding their presence globally due to the liberalization of trade. The domestic players in the market are also expanding their product offerings to achieve a competitive edge over other players in the market.
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Increased use of automation in pumps due to their efficiency optimization could help propel the market for fish pumps
The aquaculture industry can harness the benefits of the Internet of Things (IoT) and smart manufacturing. The smart machines, with advanced analytics, offer insights into processes that can help drive levels of efficiency and safety. Sensors are being added that have boosted greater communication capabilities for both pumps and valves. IoT-enabled, a remote performance monitoring and alert system allows pumps to be monitored from anywhere, 24/7, through a secure cloud connection. This enables the plant operator to know the exact operating condition of every pump at any time of the day. This helps optimize the performance and creates an alert to predict when preventive maintenance may be needed or a potential breakdown. Smart pumps help reduce excess energy, which can save hundreds of thousands of dollars to a company’s operational costs with time. This technology certainly helps achieve sustainability within an organization as it is best suited to the specific environment in which it is being operated, and it helps achieve optimum performance.
Europe is also the second-largest fish pumps market
The European region is the largest market for fish pumps. Most of the big manufacturers are headquartered in this region and are expanding their presence by either setting up new facilities or expanding the production capacities of the existing plants. Germany is one of the high-income economies in Europe. It is characterized by advanced technologies and infrastructural facilities with stringent regulations that facilitate quality maintenance to support efficient manufacturing and supply of pumps. With the growing world population there is an increase in demand for fish, thereby influencing the rapid development of vessel and land-based aquaculture systems such as recirculation aquaculture systems (RAS), hatcheries, and flow through systems, etc. to become larger and more sustainable to farm larger quantities of fish. This growth in RAS to boost pump demand required for transferring fish and also for hatchery creating demand for 2.5” to 4’ pumps.
The key players in this market include Cflow (Norway), Pg Flow Solutions (Norway), Pentair AES (US), MMC First Process (Norway), Faivre (France), Maskon (Norway), Marel (Iceland), Mjos Metallvarefabrikk As (Norway), Sterner (UK), Smir (Norway), Desmi (Denmark), Acuinuga (Spain), Inventive Marine Products Limited (Canada), and Innovasea (US).