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Industrial Pumps Market by Pump Type (Centrifugal Pumps, Positive Displacement Pumps, Diaphragm Pumps, Gear Pumps, Screw Pumps, Others (Piston Pumps, Progressive Cavity Pumps, etc)), by Power Source (Electric & Solar Pumps, Diesel Pumps, Others (Gasoline Solar, Etc)), by Flow Rate (Below 100 m³/h, 100 - 500 m³/h, Above 500 m³/h), by Horse Power (Below 100 HP, 100 - 500 HP, Above 500 HP), by Technology (Conventional, Smart), by Application (Water & Wastewater Treatment, Chemicals and Petrochemicals, Mining, Food and Beverages, Construction, Oil & Gas, Pharmaceutical, Marine, Pulp & Paper, Others (Agricultural, Textile, etc)), by Distribution Channel (Direct, Indirect), by North America (U.S., Canada), by Europe (UK, Germany, France, Italy, Spain, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Australia, Malaysia, Indonesia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by MEA (South Africa, Saudi Arabia, UAE, Rest of MEA) Forecast 2025-2033
The size of the Industrial Pumps Market was valued at USD 44.4 Billion in 2024 and is projected to reach USD 62.89 Billion by 2033, with an expected CAGR of 5.1% during the forecast period. This growth could be attributed to the increasing water and wastewater treatment demands, higher industrialization activities, and continuous technologic advancements associated with pump technologies. Government policy plays a strategic role in accelerating the Industrial Pumps Market, especially through conservation regulations of water and wastewater. Government expenditure on infrastructure development, especially in developing nations, also accelerates the growth of the market. Need for food security is another factor increasing demand for industrial pumps. Global population is continuously increasing with the global economy, and there is a need for efficient agriculture practices. Industrial pumps play a significant role in irrigation as higher agricultural productivity increases food security. Industrial Pump Market Drivers Technology plays a leading role in the Industrial Pumps Market. Innovations, like smart pumps featuring advanced sensors and controls, make pump performance highly optimized for lesser energy consumption. Predictive maintenance is another big advantage from smart pumps. Thus, efficiency and reliability make industrial pumps more favorable to various applications in the industry. The industrial pump market has plenty of opportunities left for continued growth. This comes from rising industrialization and growth in the use of water and wastewater treatment with government support along with issues relating to food security and technical capabilities.
The global industrial pumps market is highly fragmented with numerous players. However, the top 10 players hold a significant market share. Key players include Atlas Copco, Ebara, Flowserve Corporation, Gardner Denver Holdings, Grundfos, ITT Inc., KSB, Sulzer, Tsurumi Manufacturing, and Xylem.
Innovation is a key characteristic of this market. Companies are investing heavily in research and development to develop new products and technologies that meet the evolving needs of customers. The industry is also witnessing the increasing adoption of smart pumps that offer remote monitoring and control capabilities.
Regulations also play a role in influencing the market. Governments worldwide are implementing strict environmental regulations, which are leading to increased demand for energy-efficient pumps.
A key trend in the industrial pumps market is the growing demand for smart pumps. Smart pumps offer a range of benefits, including remote monitoring, control, and diagnostics. This trend is being driven by the increasing adoption of digital technologies across various industries.
Another key trend is the increasing focus on sustainability. Companies are looking for pumps that are more energy-efficient and have a lower environmental impact. This trend is being driven by the rising cost of energy and the increasing awareness of environmental issues.
The Asia Pacific region is the largest market for industrial pumps, with a market share of over 35%. This growth is being driven by the rapid industrialization and urbanization in the region. China is the largest market for industrial pumps in the Asia Pacific region.
In terms of segments, centrifugal pumps hold the largest market share, followed by positive displacement pumps. The centrifugal pumps are used in a wide range of applications, including water & wastewater treatment, chemicals & petrochemicals, and food & beverages. Positive displacement pumps are typically used in applications where high pressure or flow rates are required.
The Industrial Pumps Market Product Insights Report provides a comprehensive overview of the market. The report covers the following aspects:
The Industrial Pumps market is projected to grow at a CAGR of 5.1% over the forecast period (2023-2030). This growth will be driven by the increasing demand for efficient and reliable pumping solutions, coupled with the rising adoption of digital technologies.
The Asia Pacific region is the largest market for industrial pumps, with a market share of over 35%. This growth is being driven by the rapid industrialization and urbanization in the region. North America and Europe are also major markets for industrial pumps.
The Industrial Pumps market is primarily driven by the:
The Industrial Pumps market faces the following challenges:
The Industrial Pumps market is witnessing the following emerging trends:
In May 2023, Xylem Inc. completed its acquisition of Evoqua Water Technologies Corp., a move designed to bolster its market standing. This strategic acquisition is pivotal for Xylem, blending its water technology proficiency with Evoqua's innovative water and wastewater treatment solutions. By integrating Evoqua, Xylem significantly bolsters its ability to provide advanced solutions within the water sector.
In November 2021, Grundfos, a prominent player in water technologies and pumps, bolstered its portfolio by acquiring Mechanical Equipment Company, Inc. (MECO). Hailing from the U.S., MECO is renowned for its expertise in industrial water treatment and pharmaceutical water purification. This strategic move aimed to solidify both entities' foothold as premier global water treatment solution providers.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 5.1% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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