Global Industrial Pumps Market by Application (Water & Wastewater, Construction), by Product (Positive Displacement, Centrifugal) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global industrial pumps market was worth USD 60.21 million in 2020. It is projected to grow at a compound annual rate (CAGR of 3.9%) between 2021 and 2028. Market growth is expected to be positive due to the increasing use of industrial pumps in many industries including chemical, oil, and gas. There are many sizes, shapes and capacities for industrial pumps. These pumps are used extensively in the power sector in many processes such as circulation, boiler feed and sludge handling. Over the forecast period, product demand will be influenced by the growth of the chemical sector.

In 2020, the U.S. accounted for the largest portion of the North American market. Over the forecast period, industrial pumps will be in high demand due to increased exploration in the offshore and onshore oil & gas sectors. These pumps will also be more in demand as the country replaces its existing wastewater and water infrastructure.

Market growth will be influenced by the presence of strict government policies regarding energy efficiency and safety. Numerous government agencies are reorganizing their policies and creating new frameworks to encourage the penetration of pumps that use advanced technologies in various industries.

The demand for energy fuel is being driven by factors such as growing urbanization, industrialization, technological advancements, and increased infrastructure spending. This will lead to a high growth rate in oil and gas, power and water treatment industries and thereby increase the demand for pumps within these industries.

Due to increasing competition from low-cost suppliers, especially in Asia Pacific, the market is very price sensitive. Unpredictability in product prices is a major factor in limiting market growth in Europe and Americas. For maintaining market share, it is important to invest in research and development while focusing on growth.

Product Insights

The market leader was the centrifugal pump, accounting for 63.4% of global revenue in 2020. Due to the growth in hydraulic fracturing, which is a process that fractures oil and gas in many countries including the U.S. and Canada, the demand for centrifugal pump is expected to increase. The radial flow, axial, and mixed flow centrifugal pumps can be further divided.

Because they can work at slower speeds, positive displacement pumps will likely expand at a 4.2% CAGR over the forecast period. This is due to their less susceptibility to damage from high viscosity oils or slurries. Because of their limitations, these pumps are more popular in the oil and natural gas industry.

Reciprocating pumps can be used in many applications because of their suction lift properties and simple design. They are also simple to maintain and repair, with fewer parts. The reciprocating pump can be used in any liquid, including acids, slurries and viscous fluids.

For pumping water, such as in flooded basements and at construction sites, submersible pumps can be used. They can also be used to remove excess slurries. Submersible pumps are used for oil and gas industry in offshore and inland oil wells to pump oil from the ground to facilities at the surface.

Application Insights

Water and wastewater applications dominated the market, accounting for 24.7% of global revenue in 2020. The segment's growth is expected to be supported by a growing demand for lift and sewer pumps due to the expansion of industrial platforms and large amounts of wastewater. The increasing number of manufacturing facilities in emerging countries will play a key role in increasing the demand for industrial pumps.

Due to the increasing demand for crude oil to support production centers, domestic transports and international logistics, the oil and gas segment is expected expand at a CAGR 3.6% during the forecast period. Future growth in oil and gas exploration is expected to drive demand for industrial pumps that can handle subsea pressures while also providing utility functions.

The past decade has seen tremendous growth in global manufacturing, construction, and automotive sectors. These are the major end users for chemical products. These industries are expected to see significant growth over the next few years which will lead to a rising demand for chemicals. As they are able to handle all flammable, viscous and aggressive fluids, this will likely increase the demand for diaphragm, peristatic and centrifugal pumps.

The growing population has led to an increase in energy demand, which has contributed to the expansion of the power generation sector. Pumps are used in many applications within the power generation industry. These include boiler feed water, cooling water, cooling water, circulating and condensate services as well as flue gas desulfurization, condensate services and auxiliary services.

Regional Insights

Asia Pacific dominated the market, accounting for 44.9% of global revenue in 2020. Due to the phenomenal growth in the end-use industries (water and wastewater, chemical and oil and gas), the market is expected grow. Emerging countries like India, China, and Malaysia are concerned about the rising demand for reusable water. This will have a positive effect on regional market growth during the forecast period.

North America will experience significant growth due to technological advances in the region's pumping system performance. The oil and gas market will also be impacted by rising demand from other sectors such as commercial transportation, heating and cooling, residential, and commercial, and this is expected to complement the market growth.

Europe's market is expected to grow at 3.5% CAGR over the forecast period. The pump industry will be driven by stringent regulations that aim to reduce domestic water pollution.

The increasing demand for potable drinking water in the Middle East, Africa and Asia will lead to an increase in water treatment plant installations. Moreover, the increasing demand for crude oil to support production centers, overseas logistics and domestic transports will increase the region's offshore and onshore exploration activities, positively impacting market growth.

Market Share Insights & Key Companies

Markets are characterized by both large-scale and small-scale manufacturing companies from all over the world. This results in moderate concentration. To increase market penetration and gain an advantage over their competition, major players employ strategies like new product development and acquisitions of small and medium-sized enterprises.

Major players have made significant investments in research and development, which has resulted in many innovative products that are available to all segments of the market. Major players are more concerned about economies of scope and scale than they are with economies of scale, as pumps can be used in many industries. The following are some of the major players in the global market for industrial pumps:

• Grundfos Pump Corp.

• Xylem, Inc.

• Ingersoll Rand PLC

• Flowserve Corp.

• SPX Flow, Inc.

• KSB SE & Co. KGaA

• Sulzer Ltd.

• Pentair PLC

Up Market Research published a new report titled “Industrial Pumps Market research report which is segmented by Application (Water & Wastewater, Construction), by Product (Positive Displacement, Centrifugal), By Players/Companies Sulzer Ltd, Flowserve Corp, KSB SE & Co KGaA, Ingersoll-Rand PLC, Xylem Inc, Pentair PLC, SPX Flow Inc, Grundfos Pump Corp”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Industrial Pumps Market Report Segments:

The market is segmented by Application (Water & Wastewater, Construction), by Product (Positive Displacement, Centrifugal).

Industrial Pumps Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Industrial Pumps Market

Overview of the regional outlook of the Industrial Pumps Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Industrial Pumps Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Industrial Pumps Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Water & Wastewater

                2. Construction

                1. Positive Displacement

                2. Centrifugal

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Industrial Pumps Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Industrial Pumps Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.