The Latin America, Middle East and Africa Sanitary Pumps and Valves Market would witness market growth of 4.4% CAGR during the forecast period (2023-2030).
Sanitary pumps and valves are also widely used in the pharmaceutical & biotech industries. Pumps and valves capable of dealing with highly poisonous and corrosive fluids are needed for these sectors. The pumps and valves also need to be able to adhere to the stringent regulations that apply to these industries. Regionally, the expenditure on the pharmaceutical industry is expanding.
Another factor propelling the market is the rise in consumer demand for hygienic and clean products. More health-conscious consumers are expecting items that are free of pollutants. Another factor propelling the market is the demand for reliable and efficient ones. Product innovations represent a prominent trend that is gaining popularity. To maintain their position in this market, major companies are launching cutting-edge solutions.
Latin America has a high rate of alcohol consumption per person compared to the global average (6.4 L per capita), with adults over 15 drinking 6.8 L more pure alcohol yearly. The introduction of novel products also contributes to the food processing industry's ongoing growth. The regional market has expanded dramatically due to increased urbanization, Western cuisine impact, and the rising number of working women. According to the U.S. Department of Agriculture, two of the top 10 nations in terms of the value of their respective bakery goods sectors in terms of USD in 2022 were Saudi Arabia ($43.07 Million) and the Dominican Republic ($42.14 Million). As a result of the aforementioned factors, the regional market will expand favorably throughout the forecast year.
The Brazil market dominated the LAMEA Sanitary Pumps and Valves Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $40.9 Million by 2030. The Argentina market is estimated to grow at a CAGR of 5% during (2023 - 2030). Additionally, The UAE market would exhibit a CAGR of 4.1% during (2023 - 2030).
Based on Pump Type, the market is segmented into Centrifugal Pumps, and Positive Displacement Pumps. Based on End User, the market is segmented into Processed Food, Dairy, Alcoholic Beverage, Non-alcoholic Beverage, Pharmaceutical, and Others. Based on Power Source, the market is segmented into Electric, and Air. Based on Primming Type, the market is segmented into Non-self Primming, and Self Primming. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Sanitary Pumps and Valves Market is Projected to reach USD 2.7 Billion by 2030, at a CAGR of 3.5%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Xylem, Inc., Graco, Inc. (Newell Brands Inc.), Alfa Laval AB, KSB SE & Co. KGaA, GEA Group AG, SPX Flow, Inc., Dover Corporation, Spirax Sarco Limited, IDEX Corporation, Verder International B.V.
By Pump Type
By End User
By Power Source
By Primming Type
By Country
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