New York, United States, April 03, 2023 (GLOBE NEWSWIRE) -- The Global Fish Pumps Market Size to grow from USD 120.87 Million in 2021 to USD 219.11 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 6.9% during the projected period. New technologies across food sectors that cater to the varying needs of target customers prove to be an influential factor in driving the market's overall growth with heavy investments in R&D.
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The market for fish pumps is divided into three categories: application, size, and mode of operation. Fish pumps to aid in the efficient movement of water and fish, resulting in lower operating costs and ultra-quiet operation. Advances in the aquaculture industry, such as the Recirculatory Aquaculture System (RAS), and continued growth in the demand for fish are just a few of the factors that are expected to drive the fish pump market forward. Growing demand for fish pumps will provide lucrative opportunities for market participants during the study period. The Asia Pacific region is being driven by an increase in the number of people choosing seafood, as well as the region's status as a major producer. The growing global population will demand fish products as part of a healthy diet, which will drive market growth in the coming years. Furthermore, rising urbanization and income levels may increase demand for healthy food products as part of their daily diet, so the fish product will contribute significantly to additional growth in the forecast timeline.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Fish Pumps Market Size, Share, and COVID-19 Impact Analysis By Application (Aquaculture, Fishing), By Size (2.5” Pumps, 4” Pumps, 6” Pumps, 8” Pumps, 10” Pumps, 12” Pumps, 14” Pumps), By Mode of Operation (Manual, Automatic), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here:
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The aquaculture segment is estimated to hold the largest share of the global fish pumps market during the predicted period.
Based on the application, the global fish pumps market is segmented into aquaculture and fishing. The aquaculture segment is expected to hold the largest share of the global fish pumps market during the forecast period. The market's expansion can be attributed to rising global demand for seafood and growing awareness of the benefits of seafood consumption.
The 2.5” Pumps segment is expected to be the fastest growing segment of the global fish pumps market during the forecast period.
Based on the size, the global fish pumps market is segmented into 2.5” Pumps, 4” Pumps, 6” Pumps, 8” Pumps, 10” Pumps, 12” Pumps, and 14” Pumps. The 2.5" Pumps segment is projected to be the fastest growing segment of the global fish pumps market during the period of forecasting. These pumps are used to transport small pieces of seafood. These compact pumps are ideal for hatcheries.
The automation segment is expected to grow the fastest during the forecast period.
On the basis of mode of operation, the global fish pumps market is differentiated into manual and automatic. The automation category is projected to expand the most rapidly during the forecast period. The aquaculture industry can benefit from the Internet of Things (IoT) and smart manufacturing. Smart pumps can help a company save thousands of dollars in operating costs over time by reducing excess energy.
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Asia pacific holds the largest share of the Fish Pumps Market.
During the projected timeframe, Asia Pacific is expected to hold the largest share of the Global Fish Pumps Market. As the world's middle class continues to expand in countries such as China, India, and Indonesia, the market for fish pumps is growing. China's aquaculture industry has expanded rapidly in recent years, and the country is now the world's leading producer. Europe is forecast to expand the fastest over the forecast period. The majority of the largest manufacturers have their headquarters in this area, and they are actively expanding their presence here by building new facilities or increasing the output capacities of existing ones. North America accounted for the third-largest global market share for fish pumps. North America, as a highly developed economy, has seen significant developments and innovations in the fish pumps market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Fish Pumps Market include Acuinuga, Inventive Marine Products Limited, Innovasea, Faivre, Maskon, Marel, Mjos Metallvarefabrikk As, Sterner, Smir, Desmi, Cflow, Pg Flow Solutions, Pentair AES, MMC First Process, and Others.
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Recent Developments
In October 2022, Realfish Pro, Innovasea's new cloud-based aquaculture management platform, has been launched. Coverage is also provided by The Fish Site, World Fishing & Aquaculture, Responsible Seafood Advocate, Salmon Expert, and Aqua.
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