Market Leaders: Majority of big Players are Focusing on Acquisition to Strengthen their Market Position in Fish Pumps MarketMarket Leaders: Majority of big Players are Focusing on Acquisition to Strengthen their Market Position in Fish Pumps Market
According to MarketsandMarkets, the global fish pumps market size is estimated to be valued at USD 129 million in 2022 and is projected to reach USD 186 million by 2027, recording a CAGR of 7.6% in terms of value. Changes in lifestyles and increasing incomes encourage people to opt for seafood. The rise in power & energy costs and high-capacity capital and maintenance costs are restraining the growth of the fish pumps market. Offering after-sales services, focus on automation and digitalization, and growing demand from developing economies such as China, India, Vietnam, and countries of South America serve as opportunities to increase the sales of fish pumps by manufacturers.
The key players in this market include Pentair (US), Seaquest Systems (Ireland), Mjøs Metallvarefabrikk AS (Norway), Merck & Co., Inc. (US), SMIR AS (Norway), Acuinuga (Spain), The Company (Spain), MMC First Process AS (Norway), Maskinfabrikken Apollo A/S (Denmark), Inventive Marine Products Limited (Canada), PG Flow Solutions AS (Norway), Samson Pumps (Denmark), FAIVRE (France), and Skala Maskon (Norway).
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Pentair is involved in the manufacturing of diversified industrial products. It operates through two business segments: consumer solutions and industrial & flow technologies. The consumer solutions segment deals with the designing, manufacturing, and selling of energy-efficient residential and commercial pool equipment and accessories such as heaters, lights, automatic cleaning, pumps, and water treatment products such as activated carbon products and filters. The industrial & flow technology segment houses a variety of fluid treatment products, pumps, valves, and spray nozzles. These products serve a wide range of consumers, from residential and agriculture to industrial giants. Pentair provides fish pumps solutions through its industrial and flows technology segment. Pentair has a well-diversified geographic presence covering 150 countries worldwide, some of which are China, Singapore, the US, and the UK.
Merck & Co., Inc. is known as MSD outside the United States and Canada. The company provides biopharmaceutical and technology solutions that monitor for insight, optimize for precision, and measure performance. The company is divided into three reportable segments: pharmaceutical, animal health, and other revenue. Human health pharmaceuticals and vaccines are included in the pharmaceutical segment. Animal Health produces and sells various veterinary pharmaceutical and vaccine products. In addition, the company provides a comprehensive range of digitally connected identification, traceability, and monitoring products. Under its animal health division, the company’s subsidiary VAKI Aquaculture Systems sells fish pumps. Some of the company's major subsidiaries in the technology domain are Biomark, LLC (US), and Hawk and Falcon L.L.C (US). The company has a geographic presence covering 55 countries worldwide across the world, including Europe, North America, South America, Africa, Asia, and the Middle East.
In December 2019, Merck & Co., Inc. completed the acquisition of VAKI, which is a part of Merck Animal Health's leading brand Biomark business after this acquisition. Biomark specializes in electronic identification technology for use in research on fisheries, wildlife, and aquaculture. This acquisition strengthened the company's dominance in animal technology.
PG Flow Solutions AS develops, engineers, manufactures, tests, and commissions a wide range of unique flow handling solutions, systems, and products, including pumps and pumping technologies, for use in various industries, including marine, energy, aquaculture, and land-based process industries. The company has a global presence across Asia, South America, Europe, and North America.
In 2018, PG Flow Solutions AS acquired Cflow, a company specializing in handling, storing, and transporting live fish. With the acquisition, PG Flow Solutions AS becomes a more comprehensive solution provider to companies in the fishery and aquaculture industries. It has a global presence in Europe and North and South America.
In July 2022, The Gjerdrum family acquires all the shares in PG Flow Solutions AS. The Gjerdrum family has been shareholders in PG Flow Solutions (PG) through EnFlow since 2014 but is now the sole owner. This acquisition is due to significant market opportunities in the maritime and energy sectors. Increased investments for PG Flow Solutions AS due to new ownership will aid in the company's geographical expansion.
Related Reports:
Fish Pumps Market by Size (2.5” Pumps, 4” Pumps, 6” Pumps, 8” Pumps, 10” Pumps, 12” Pumps, and 14” Pumps), Application (Aquaculture and Fishing), Mode of Operation (Manual and Automatic) and Region - Global Forecast to 2027
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