The global floor pump market was valued at USD 890.1 Million in 2019 and is projected to reach USD 1,151.5 Million by 2027, expanding at a CAGR of 3.9% during the forecast period. A floor pump is the basic type of pump which functions via hand operated piston. This piston helps draw air into the pump through a value during the up-stroke during the down-stroke, the piston displaces air from the pump into the tire. There are over 350 brands of pumps in India registered under Bureau of Energy Efficiency. Submersible pump sets are among the leading pump categories followed by open well submersible pump sets and electric moonset pumps. Major users of industrial pumps include cement, steel and Oil & gas industries as well as public water supply. Small and medium sized pumps in ratings between 0.25-25 hp are used in agriculture and domestic housing. Pumps in rating of up to 500hp are used across industries and categories with 500 hp rating and above are used for municipal / irrigation projects and power plants.
Rising industrial activities in emerging economies is the key factor which will fuel the global floor pumps market. Pumps usage in bicycle, automation, and other domestic activities helps drive market growth. Advancements in automation technology owing to their rising demand in various end-use sectors boost the demand for floor pumps. However, fluctuation in the prices of raw material hinders the market. Increased awareness among people increases growth of the market in upcoming period.
Based on types, the global floor pump market is categorized as manual, electric, and others. The manual segment is anticipated to expand at a CAGR of 3.1% during the forecast period, as the adoption of manual pumps is high by bicycle owners. The electric segment is estimated to hold 22.1% share of the market in 2019, as electric pumps have a warranty of a minimum of two years. These pumps are primarily used for automotive and inflatables, where high pressure is required and with minimum efforts.
On the basis of applications, the market is segregated into bicycle, automotive, inflatables, and others. The bicycle segment is projected to hold a major share of the market during the forecast period, as it is easy to swipe between settings with the foot, so that the high volume for the first few strokes is used and then switched to high pressure to get more accuracy.
Bicycle is a common application for floor pump, as the number of bicycle users is increasing by the day. Companies are developing innovative products to cater to the needs of the end-users, such as a dual charger that switches between high volume and high pressure using a large switch mounted on the edge of the gauge. It is easy to swipe between settings with the foot, so that the high volume for the first few strokes are used before switching to high pressure for accuracy. The key companies have come up with the concept of portable high-pressure mini floor pump or rechargeable mini floor pump, which can be used by cyclists while travelling long distances.
Keeping the tires properly inflated improves the fuel economy and performance of the vehicle. If there is no air compressor to inflate the tires, the floor pump can be used to inflate them. The valve of a bicycle and car is similar; however, it takes a long time to inflate a car tire, as they have a PSI value around 35. Primarily, electric floor pumps are preferred for inflating the automotive tires.
Instead of air, hydrogen, helium, and nitrogen are also used to inflate certain objected, which are known as inflatables. Inflation happens through several strategies as pumps, ram-air, billowing, and suction. Floor pumps are used to inflate inflatables, especially electric floor pumps, as they exert high pressure and save time. The automated nature of electric floor pumps makes it easier for users to get the required pressure in the inflatables.
The others segment includes the application of floor pumps for objects such as football, rugby ball, and soccer ball. These pumps help inflate things with suitable pressures, allowing them to maintain the desired shapes, size, and sturdiness.
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is a promising region for the market. The region constituted 22.8% share of the market in 2020. The market in the region is projected to expand at a CAGR of 2.3% during the forecast period, due to increasing disposable income and rising government initiatives.
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Yes, the report covers macroeconomics factors including GDP, population, disposable income, and others.
According to this Growth Market Reports report, the market from floor pump is likely to register a CAGR of 3.9% during forecast period 2020-2027, with an anticipated valuation of US$ 1,151.5 million by the end of the 2027.
In addition to market size (in US$ Million) and company market share (in % for base year 2019), other data such as Pricing analysis for year 2017 to 2027 (estimated pricing analysis) is provided, market volume (2017 to 2027) for floor pump market is available in final report.
Increasing cycling activities to fuel the demand for floor pumps, Constant advancements in floor pumps is driving market growth, increasing initiatives from government and private organizations for promoting usage of bicycles are expected to drive the market growth during forecast period.
Bicycle are the key end-user that are driving the Floor Pump Market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness declined of over 1.0% between 2019 and 2020 owing to the considerable impact of COVID-19 pandemic on the Floor Pump Market. The ongoing research of Floor Pump for COVID-19 string is expected to grow the production Floor Pump product.
The base year considered for the global floor pump market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2021 to 2027.
Major Manufactures include, Lezyne, Topeak, Blackburn, Bell, Schwinn, Intex, Giant, Giyo, Silca, Specialized, BioLogic, Campagnolo.
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