Pump Market By Type (Portable, Stationary), By Position (Submersible, Non-submersible), By Technology (Dynamic Pumps [Centrifugal], Positive Displacement [Rotary {Gear, Vane, Screw}, Reciprocating {Diaphragm Piston/Plunger}]), By Driving Force (Engine-Driven, Electrical-Driven), By End-User (Mining, Building & Construction, Oil & Gas, General Industries, Water & Wastewater, Chemicals, Power Generation) and By Region - Market Trends, Analysis, and Forecast till 2030

The pump market, valued at US$ 63.40 billion in 2020, is projected to grow at a compound annual growth rate of 5.30% to reach US$ 105.85 billion by 2030.

Due to their extensive use in various industries, including chemical, oil and gas, power generation, water and wastewater, and chemical, pumps are growing increasingly popular, which is expected to increase demand. Industrial pumps come in many different sizes, forms, and capacities. They are also widely used in the power sector, where they are used for a variety of tasks, such as sludge control, boiler feed, and circulation. It is anticipated that the chemical industry's expansion will increase product demand. The pump industry is only one example of how new technology and digital transformation drastically change several businesses. To better align these devices with users' needs, several improvements in their efficiency have been made recently in the in the digital era. Manufacturers face mounting pressure to adopt new business models that will enhance product monitoring while mitigating environmental impact as energy costs rise.