Floor Pump Market Outlook
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.
Floor Pump Market Dynamics
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.
Floor Pump Segmental Outlook
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.
Definitions
By Applications
Bicycle
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.
Automotive
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.
Inflatables
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.
Others
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.
Regional Outlook
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.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the global floor pump market
- Historical, current and projected market size in terms of value and volume
- Potential & niche segments and regions exhibiting promising growth covered
- Industry drivers, restraints and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Neutral perspective on global floor pump market performance
Segments
By Types
By Applications
- Bicycle
- Automotive
- Inflatables
- Others
By Regions
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Poland
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
Key Market Players Profiled in the Report
- Lezyne
- Topeak
- Blackburn
- Bell
- Schwinn
- Intex
- Giant
- Giyo
- Silca
- Specialize
- BioLogic
- Campagnolo
Competitive Landscape
- Key players in the market include Lezyne, Topeak, Blackburn, Bell, Schwinn, Intex, Giant, Giyo, SILCA, Specialized, BioLogic, Campagnolo. These companies are considered key manufacturers of floor pump based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
- The players are adopting key strategies such as acquisition, and geographical expansion where the potential opportunity for the floor pump is added in the company’s capacity. For instance, in January 2019, SILCA, a manufacturer of premium bicycle pumps and accessories, collaborated with Rocket Espresso to increase product innovations.
- In February 2019, SILCA acquired Hirobel Cycling Solutions. The latter is best known for its a unique clamping system that is safe for carbon fiber frames. Rather than produce a redundant competitor to an existing successful product, SILCA opted to buy the company – and even move production alongside other SILCA products in Indianapolis, IN.