Industrial pumps Market
Global Industrial pumps Market to surpass USD 59.2 billion by 2030 from USD 35.6 billion in 2020 at a CAGR of 5.1% in the coming years, i.e., 2021-30.
In the process industry, industrial pumps are used to regulate, control, and direct gases, liquids, vapors, slurries, and other fluids. To achieve efficient flow management in industries such as water and wastewater, oil and power, food and beverages, chemicals, and others, they are mostly made of cast iron, stainless steel, carbon steel, and other high-functioning metal alloys. Furthermore, an industrial pump is made up of three primary parts: a main body, a stem, and a seat, all of which are made of diverse materials such as polymers, rubber, metals, and others to prevent liquid from being wasted as it passes through the pump. Pumps are classified mostly based on their functioning mechanisms.
Global Industrial pumps market is expected to project a notable CAGR of 5.1% in 2030.
Industrial pumps are becoming more widely used in a variety of industries, including water and wastewater, chemical, oil and gas, and power generation, which is likely to boost market growth. Pumps for industrial use come in a variety of sizes, forms, and capacities. They’re also widely utilized in the power industry for a variety of activities like circulation, boiler feed, and sludge disposal. Over the projected period, the chemical industry’s expansion is expected to have a beneficial impact on product demand.
Global Industrial Pumps: Segments
Centrifugal pump segment to grow with the highest CAGR during 2020-30
Global Industrial pumps market is segmented by type into Centrifugal pump, Positive displacement pump and other. Centrifugal pump segment held the largest market share in the year 2020. The boom in hydraulic fracturing in the oil and gas industry in countries is expected to increase demand for centrifugal pumps. Radial flow pump, axial flow pump, and mixed flow pump are three types of centrifugal pumps. Positive displacement pumps are expected to grow in popularity over the projected period due to their ability to operate at lower speeds, making them less susceptible to damage from high-viscosity oils and slurries.
Water & Wastewater segment to grow with the highest CAGR during 2020-30
Global Industrial pumps market is divided by application into Oil & Gas, Chemicals, Construction, Power, Water & Wastewater and others. Over the forecast period, the Water & Wastewater segment is projected to expand at the fastest pace. The segment’s expansion is likely to be aided by rising demand for lift and sewage pumps as a result of expanding industrial platforms and the accumulation of significant amounts of wastewater. The increasing demand for industrial pumps is likely to be fueled by the expansion of manufacturing facilities in emerging countries.
Demand in the agriculture sector as well as construction industry
The agricultural sector’s expansion, with new farms and cultivation fields, will necessitate a large supply of pumps of various types, resulting in significant market growth for the industrial pump business. Additionally, the construction of commercial structures such as malls and corporate offices has seen a significant increase. Evidently, these structures are equipped with fire suppression and sanitation systems, both of which necessitate the use of pumps to maintain water flow, further boosting the pump industry.
Rise in environmental problems
Because of the environmental problems raised by liquid discharge from chemical, pharmaceutical, and other industries, a legislation has been enacted that requires these businesses to implement a zero liquid discharge plant. This is a water treatment procedure in which all of the water is either cleaned and recycled or evaporated and released into the atmosphere, resulting in zero discharge at the end of the treatment cycle. These facilities make use of a wide range of pumps, from centrifugal to displacement, which is boosting the pump market.
Increased taxes and tariffs
Increased taxes on derivative aluminum and steel imports are having a severe impact on global industrial pump trade. Steel is used extensively in the manufacturing of industrial pumps, and the tariff on steel is expected to stifle the global industrial pumps market’s growth.
Global Industrial Pumps: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Kirloskar Group
Haicheng surpasuny pump
Falcon Pumps Pvt. Ltd.
KSB SE & Co.
The Flowserve Corporation
Cornell pump company
Other Prominent Players
Global Industrial Pumps: Regions
Global Industrial pumps market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The market for industrial pumps is dominated by APAC. The dominance of the region can be linked to tremendous economic growth. Because of the low cost of raw materials and labor, the region is attracting investors to build up manufacturing enterprises. Industrial activity is increasing as a result of reduced manufacturing costs and local government backing. One of the factors boosting the industrial pumps market in Asia Pacific is increased R&D spending.
Global Industrial pumps is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Industrial Pumps report also contains analysis on:
Industrial pumps Segments:
Positive displacement pump
Oil & Gas
Water & Wastewater
Industrial pumps Dynamics
Industrial pumps Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Industrial pumps Market
Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 35.6 billion
Revenue forecast in 2030 USD 59.2 billion
Growth Rate CAGR of 5.1% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, end-user and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Wilo SE, The Kirloskar Group, Haicheng surpasuny pump, Grundfos, Falcon Pumps Pvt.Ltd., KSB SE & Co., The Flowserve Corporation, Cornell pump company, Walrus Pump and Other Prominent Players