Saudi Arabia Centrifugal Pump and Service & Spare Parts Market size is projected to grow at CAGR of 8.6 % during 2022-2028

Building service segment acquired the largest market revenue share in Saudi Arabia Centrifugal Pump and Service & Spare Parts market – 6Wresearch.

Saudi Arabia centrifugal pump and service & spare parts market observed a steady growth during 2018-2020 owing to Saudi Vision 2030. The COVID-19 pandemic brought a decline in market revenues during the year 2021 owing to the lockdown imposed in the country. The lockdown has hampered almost all the economic sector and has created disruptions in supply chain all over the globe, resulting in decline in the demand for centrifugal pumps in the year 2020. The Centrifugal Pump and Service & Spare Parts market has anticipated a steady growth post-COVID-19 pandemic. The rising construction activities, increasing oil & gas segment and heavy investments in the mining sector would further drive the Saudi Arabia centrifugal pump and service & spare parts market in the forecasted time frame.

According to 6Wresearch, Saudi Arabia Centrifugal Pump and Service & Spare Parts Market size is projected to grow at CAGR of 8.6 % during 2022-28F. Saudi Arabia Centrifugal Pump and Service & Spare Parts market is in the growing stage of industry life cycle. The market would continue to climb up owing to the rising construction of tall buildings in the country along with increase investment in mining sector which would help to grow the centrifugal pump and service & spare parts market as well.

According to Shubham Deep, Research Associate, 6Wresearch, “By Service Types, the spare parts segment accounted for the largest market revenue share and is expected to follow the same trend in the coming years owing to high prices of some spare parts as compared to servicing of centrifugal pumps.”

According to Vatan Saini, Research Associate, 6Wresearch, “Geographically, Eastern region dominates the market revenue share in centrifugal pump and service & spare parts market in 2021 and same trend is expected to continue in the forecasted years on account of growing construction and oil & gas development in the region.”

Some of the major companies in India air purifier market includes Flowserve corporation, KSB SE & Co. KGaA, Sulzer Management Ltd., Grundfos Holding A/S, EBARA Corporation, ITT INC., Xylem INC., Wilo Group, Arabian Pumps and SPX FLOW, INC.

Saudi Arabia Centrifugal Pump and Service & Spare Parts market (2022-2028) report provides an in-depth analysis with 20 figures and 6 tables, covered in 86 pages. Report comprehensively covers the Saudi Arabia Centrifugal Pump and Service & Spare Parts market by types, applications, service types and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.