Global Pump Market Overview
The Global Pump Market accounted for USD 63.40 billion in 2020 and is estimated to be USD 105.85 billion by 2030 and is anticipated to register a CAGR of 5.30%.
Pumps are becoming more popular as a result of their widespread use in a range of industries, such as water and wastewater, chemical, oil and gas, and power generation, which is predicted to drive up demand. Industrial pumps are available in a range of sizes, shapes, and capacities. They're also common in the power industry, where they're employed in a range of operations ranging from circulation to boiler feed to sludge management. The growth of the chemical sector is predicted to boost product demand. The pump business is no exception to how digital transformation and new technologies are rapidly transforming the face of numerous industries. Several advancements in the efficiency of these gadgets have been developed in recent years to better align them with the digital age. As energy costs continue to rise, manufacturers are under increasing pressure to implement new business models in order to improve product monitoring while reducing environmental effect.
Global Pump Market Drivers & Restraints
Technological Advancement will drive the growth of the Market
Pump manufacturing technological developments, as well as new product introductions focusing on improved performance, dependability, and lower energy usage, are likely to drive market expansion. Additionally, the Industrial Internet of Things (IIoT) is poised to alter the production environment by creating a digitally connected ecosystem.
Increased infrastructure building operations
Increased infrastructure building operations, as well as the investigation of new water sources around the world, have occurred in tandem with the fast adoption of pumps, owing to continued urbanization. However, the development of several Chinese competitors offering pumps at a low cost has hampered the expansion of global and regional market participants in recent years. Furthermore, the aftermarket sales of pumps and their components have been impacted by a greater focus on improving the operational life of modern-day pumps rather than spending on R&D on new products.
Global Pump Market Segmentations & Regional Insights
The Global Pump Market is segmented based on type, position, driving force, technology, end-user and region.
On the basis of Type, the Global Pump Market is segmented into Portable, Stationary. Based on Position, the target market is segmented into Submersible, Non-submersible. Based on Driving Force, the target market is segmented into Engine-Driven, Electrical-Driven). Based on Technology, the target market is segmented into Dynamic Pumps [Centrifugal], Positive Displacement [Rotary {Gear, Vane, Screw}, Reciprocating {Diaphragm Piston/Plunger}]. Based on End-User, the target market is segmented into Mining, Building & Construction, Oil & Gas, General Industries, Water & Wastewater, Chemicals, Power Generation.
Regional Insights:
On region the Global Pump Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast period, Asia Pacific is expected to dominate the market. The paucity of drinking and sanitation water, particularly in Asia Pacific, is expected to increase the use of recycled water for direct distribution to end customers. This is expected to increase demand for wastewater treatment systems, resulting in an increase in demand for pumps used in water and wastewater treatment plants. The Asia-Pacific region is experiencing unprecedented economic growth, which has led in the construction of industrial infrastructure. The region's industrial infrastructure is expanding, due to a policy focus on boosting the industrial sector. The majority of Asia-Pacific countries are in a boom phase, and the high rate of population expansion has resulted in an increasing need for water. Furthermore, excessive water extraction in nations like India led in a 61 percent drop in water level between 2007 and 2018. As a result, the need for high-heat pumps has increased.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
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Market Segmentation |
By Type- Portable, Stationary By Position– Submersible, Non-submersible By Driving Force- Engine-Driven, Electrical-Driven By Technology- Dynamic Pumps [Centrifugal], Positive Displacement [Rotary {Gear, Vane, Screw}, Reciprocating {Diaphragm Piston/Plunger}] By End-User- Mining, Building & Construction, Oil & Gas, General Industries, Water & Wastewater, Chemicals, Power Generation |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Pump Market report based on Type, Position, Driving Force, Technology, End-User and region.
Global Pump Market, By Region:
- North America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- U.S.
- Canada
- Middle East & Africa
Global Pump Market Competitive Landscape & Key Players
The key players operating in the pump market are Flowserve Corporation, Grundfos Holding AS, KSB SE & Co. KGaA, ITT Inc., Sulzer Ltd, Ebara Corporation, Weir Group PLC, Schlumberger Ltd, Baker Hughes Company, and Clyde Union Inc., among others. The global market has recently become more competitive, opening up chances for partnerships and cooperation with sales and distribution organizations. Low-cost pumps are being offered by Asian manufacturers, particularly Chinese vendors, which helps raise sales in the Asian region but reduces market share for North American and European competitors. India's players have been noticed targeting ASEAN and the Middle East and Africa. The revenue growth of Asian players is expected to boost competition in the worldwide market throughout the forecast period.
Global Pump Market Recent News
- In December 2023, Packo Pumps site merges with Verder Liquids site. This partnership aims to strengthen the relationship between Verder and Packo and provide customers with more pump technology.
- In May 2023, The ClydeUnion Pumps brand signed an agreement with ONGC to provide pump maintenance services and spare parts across its network of crude oil and natural gas assets in India.
- In February 2023, Motion & Control Enterprises completed the acquisition of Precision Pump & Valve, a long-standing distributor specializing in safety and control valves, pumps and related equipment. Precision Pump & Valve is renowned for providing tailored solutions for the oil and gas, petrochemical and chemical processing markets.
Global Pump Market Company Profile
- Flowserve Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Grundfos Holding AS
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- KSB SE & Co.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- KGaA
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ITT Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sulzer Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ebara Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Weir Group PLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Pump Market Highlights
FAQs
The Pump Market is segmented into type, application and region.
The growth of the Pump Market is driven by various factors, including increased demand for pumping systems in industries such as water and wastewater, oil and gas, and manufacturing. Technological advancements, energy-efficient pumps, and the rising need for effective fluid transfer solutions contribute to the market's growth.
Challenges faced by the Pump Market may include factors such as high initial costs, maintenance challenges, and environmental concerns related to energy consumption. These aspects could act as restraints on the global expansion of the pump industry.
The report considers regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa for analysis. The Asia Pacific is estimated to witness a significantly high revenue share over the forecast period,
The key players operating in the pump market are Flowserve Corporation, Grundfos Holding AS, KSB SE & Co. KGaA, ITT Inc., Sulzer Ltd, Ebara Corporation, Weir Group PLC, Schlumberger Ltd, Baker Hughes Company, and Clyde Union Inc., among others.