The European water pump equipment market is projected to nearly double by 2031, according to Future Market Insights.

Between 2016 and 2020, the European water pump equipment market grew at a compound annual growth rate (CAGR) of over 0.5%. Future Market Insights further anticipates this market to expand at a CAGR of over 3.6% by 2031.

The pump production is one of the few industrial sectors in which Europe continues to perform, at least on par if not better than its global counterparts. For many years, it has benefited from a strong positive trade balance with other major alliances in Asia and the Americas and it continues to do so.

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