Industrial Pumps Market Size
Industrial Pumps Market was valued at around USD 44.4 billion in 2023 and is estimated to register a CAGR of around 5.1% between 2024 and 2032, driven by the innovative strategies of major players, technological advancements, and industry progress.
Oil & gas, chemicals, water management, and manufacturing are some of the sectors that are driving this growth. This shows that there is a growing need for effective pumping solutions. Flowserve, a major player, has made great strides in producing high-efficiency pumps and digital solutions, for instance. Their device, "Flowserve Seal Minder," lets you keep an eye on mechanical seals in real time, which helps pumps last longer by preventing breakdowns.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Industrial Pumps Market Size in 2023 | USD 44.4 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 5.1% |
| 2032 Value Projection | USD 69 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 310 |
| Tables, Charts & Figures | 365 |
| Segments covered | Pump Type, Power Source, Flow Rate, Horse Power, Technology, Application, Distribution Channel, Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
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Many enterprises in poor economies might think that the cost of advanced industrial pumps and the technology that go with them are too high. This price includes cutting-edge materials, new technologies, and designs that use less energy. There is a lot of competition in the industrial pumps industry because there are so many players, from well-known companies to new ones. Such competition can have a direct effect on the market share and profit margins of particular enterprises. Also, problems with the global supply chain, like logistical issues and delays in getting parts, can have a big impact on when industrial pumps are made and when they are delivered.
Industrial Pumps Market Trends
The Internet of Things (IoT) and the use of digital technologies are changing the pump sector. Smart pumps have sensors and networking capabilities that let you monitor them in real time, do predictive maintenance, and make them function better. This change is making people want more integrated pump systems. The water and wastewater management sector is also growing because people are worried about the world's water shortage and the need for better wastewater treatment. More and more, the industry is using innovative pump systems to deal with the distribution, treatment, and recycling of water.
Also, new high-performance metals, materials that resist corrosion, and sophisticated coatings are making industrial pumps useful in more industries and more difficult situations.
Industrial Pumps Market Analysis
In many fields, like creating things, drilling for oil, and cleaning up water, centrifugal pumps are the best choice. They made the most money in 2023, bringing in roughly $21.9 billion. And it's just going to get better—experts say that by 2032, they'll be valued a huge $34.8 billion! What makes these pumps so great? They can handle a variety of liquids and operate well in a variety of settings. Also, they cost less to buy and keep running than other pumps. People like them because they are easy to use and maintain. This pump is like a Honda Civicdependable, easy to fix, and a terrific deal.
Think about living in a busy metropolis where clean, fresh water is hard to come by. That's how it is for a lot of people throughout the world, and it's making a lot of people want companies that can clean and treat water. More than a quarter of the companies that work on water treatment right now are focused on keeping our drinking water safe and clean. But by the end of this decade, that figure should go up even higher. That's because we'll need even more water to keep everyone healthy and hydrated as more people relocate to cities and our population keeps expanding. Companies are coming up with new pumps that can transfer, distribute, and purify water more efficiently to make sure we have enough clean water. These pumps are very important for bringing clean water to our homes and businesses. Not just towns, but also businesses and sectors like chemical plants, food and beverage manufacturers, and even hospitals are becoming increasingly conscious of how crucial it is to manage their water and wastewater appropriately. This is making people want even better pumps and water treatment systems.
North America region dominated around 26% share of the industrial pump market in 2023 and is estimated to register a CAGR of around 5.1% between 2024 and 2032. Stringent safety and environmental regulations in North America underscore the need for advanced pumping technologies. Meeting these standards mandates high-performance pumps across various applications. North America's industrial scene, dominated by the energy sector, particularly oil, gas, and renewables, drives the demand for specialized pumps tailored for high-pressure and high-temperature settings. This demand is further fueled by ongoing investments in energy infrastructure and exploration.
Country-level Analysis
In 2023, the U.S. ruled the industrial pumps scene in North America, raking in a cool $8.9 billion. And guess what? It's only going up! Experts predict a steady growth of 5.3% until 2032. Why's the U.S. crushing it? Well, it's got a super-diverse industrial setup. From making stuff to handling chemicals, oil, and gas to keeping our water clean and lights on, the U.S. needs a ton of different pumps. Plus, they're really investing in fixing up their water and sewer systems. They've got strict rules, old pipes, and not enough water in some places. So, they're putting their money into high-tech pumps that help clean our wastewater and get clean water where it needs to go.
Germany dominated the Europe industrial pumps market share of around 24% in 2023 and is expected to grow at a CAGR of 5.4% from 2024 to 2032. Germany's robust industrial landscape, encompassing manufacturing, chemicals, automotive, and pharmaceuticals, drives a significant demand for industrial pumps. Given the emphasis on Industry 4.0 and automation, there's a growing need for cutting-edge pumping solutions that seamlessly integrate with automated processes. The adoption of digital technologies and smart pumps aligns with Germany's overarching goal of enhancing manufacturing efficiency and automation.
China dominated the Asia Pacific industrial pumps market share of around 33% in 2023 and is expected to grow at a CAGR of 5.6% from 2024 to 2032. China's robust investments in transportation networks, urban development, and wastewater treatment facilities are driving up the demand for industrial pumps. This heightened need stems from the country's expansive industrialization, particularly in sectors such as manufacturing, chemicals, mining, and oil and gas. Given the scale of industrial activities in China, there's a pressing demand for reliable and efficient pumping systems across various applications.
Industrial Pumps Market Share
The industrial pumps industry is fragmented, with several regional companies operating on a global scale. In 2023, Flowserve Corporation, Grundfos Group, Sulzer AG, Xylem, Inc., and Pentair plc led the market. To expand their customer base, broaden their product offerings, and establish a stronger foothold in the market, these corporations strategically deploy mergers, acquisitions, partnerships, and facility expansions. They also leverage their vast distribution networks and resources to investigate new markets.
Industrial Pumps Market Companies
Major players operating in the industrial pumps industry are
- Atlas Copco AB
- Ebara Corporation
- Flowserve Corporation
- Gardner Denver Holdings, Inc.
- Gorman-Rupp Company
- Grundfos
- ITT Inc.
- Kirloskar Brothers Limited
- KSB SE & Co. KGaA
- SPX FLOW, Inc.
- Sulzer Ltd.
- Tsurumi Manufacturing Co., Ltd.
- Weir Group PLC
- Wilo SE
- Xylem Inc.
Industrial Pumps Market News
- 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.
This industrial pumps market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and volume (Million Units) from 2021 to 2032, for the following segments
Market, By Pump Type
- Centrifugal Pumps
- Positive Displacement Pumps
- Diaphragm Pumps
- Gear Pumps
- Screw Pumps
- Others (Piston Pumps, Progressive Cavity Pumps, etc)
Market, By Power Source
- Electric & Solar Pumps
- Diesel Pumps
- Others (Gasoline Solar, Etc)
Market, By Flow Rate
- Below 100 m³/h
- 100 - 500 m³/h
- Above 500 m³/h
Market, By Horse Power
- Below 100 HP
- 100 - 500 HP
- Above 500 HP
Market, By Technology
- Conventional
- Smart
Market, By Application
- Water & Wastewater Treatment
- Chemicals and Petrochemicals
- Mining
- Food and Beverages
- Construction
- Oil & Gas
- Pharmaceutical
- Marine
- Pulp & Paper
- Others (Agricultural, Textile, etc)
Market, By Distribution Channel
- Direct
- Indirect
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Malaysia
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
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