; Industrial pumps Market Trends, Industry Share, Forecast 2030

Industrial pumps Market

Industrial pumps Market : Segmented by Type (Centrifugal pump, Positive displacement pump and other), By Application (Oil & Gas, Chemicals, Construction, Power, Water & Wastewater and others), and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030

Published on: Apr-2022
Report Code: FG INEQ 01053
No. of Pages: 170-350
Report Format: PDF

Product Overview

Industrial pumps Market to surpass USD 59.2 billion by 2030 from USD 35.6 billion in 2020 at a CAGR of 5.1% in the coming years, i.e., 2021-30.

In the process industry, industrial pumps are used to regulate, control, and direct gases, liquids, vapors, slurries, and other fluids. To achieve efficient flow management in industries such as water and wastewater, oil and power, food and beverages, chemicals, and others, they are mostly made of cast iron, stainless steel, carbon steel, and other high-functioning metal alloys. Furthermore, an industrial pump is made up of three primary parts: a main body, a stem, and a seat, all of which are made of diverse materials such as polymers, rubber, metals, and others to prevent liquid from being wasted as it passes through the pump. Pumps are classified mostly based on their functioning mechanisms.

Market Highlights

Global Industrial pumps market is expected to project a notable CAGR of 5.1% in 2030.

Industrial pumps are becoming more widely used in a variety of industries, including water and wastewater, chemical, oil and gas, and power generation, which is likely to boost market growth. Pumps for industrial use come in a variety of sizes, forms, and capacities. They're also widely utilized in the power industry for a variety of activities like circulation, boiler feed, and sludge disposal. Over the projected period, the chemical industry's expansion is expected to have a beneficial impact on product demand.

Global Industrial Pumps: Segments

Centrifugal pump segment to grow with the highest CAGR during 2020-30

Global Industrial pumps market is segmented by type into Centrifugal pump, Positive displacement pump and other. Centrifugal pump segment held the largest market share in the year 2020. The boom in hydraulic fracturing in the oil and gas industry in countries is expected to increase demand for centrifugal pumps. Radial flow pump, axial flow pump, and mixed flow pump are three types of centrifugal pumps. Positive displacement pumps are expected to grow in popularity over the projected period due to their ability to operate at lower speeds, making them less susceptible to damage from high-viscosity oils and slurries.

Water & Wastewater segment to grow with the highest CAGR during 2020-30

Global Industrial pumps market is divided by application into Oil & Gas, Chemicals, Construction, Power, Water & Wastewater and others. Over the forecast period, the Water & Wastewater segment is projected to expand at the fastest pace. The segment's expansion is likely to be aided by rising demand for lift and sewage pumps as a result of expanding industrial platforms and the accumulation of significant amounts of wastewater. The increasing demand for industrial pumps is likely to be fueled by the expansion of manufacturing facilities in emerging countries.

Market Dynamics

Drivers

Demand in the agriculture sector as well as construction industry

The agricultural sector's expansion, with new farms and cultivation fields, will necessitate a large supply of pumps of various types, resulting in significant market growth for the industrial pump business. Additionally, the construction of commercial structures such as malls and corporate offices has seen a significant increase. Evidently, these structures are equipped with fire suppression and sanitation systems, both of which necessitate the use of pumps to maintain water flow, further boosting the pump industry.

Rise in environmental problems

Because of the environmental problems raised by liquid discharge from chemical, pharmaceutical, and other industries, a legislation has been enacted that requires these businesses to implement a zero liquid discharge plant. This is a water treatment procedure in which all of the water is either cleaned and recycled or evaporated and released into the atmosphere, resulting in zero discharge at the end of the treatment cycle. These facilities make use of a wide range of pumps, from centrifugal to displacement, which is boosting the pump market.

Restraint

Increased taxes and tariffs 

Increased taxes on derivative aluminum and steel imports are having a severe impact on global industrial pump trade. Steel is used extensively in the manufacturing of industrial pumps, and the tariff on steel is expected to stifle the global industrial pumps market's growth.

Global Industrial Pumps: Key Players

  • Wilo SE

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

  • The Kirloskar Group
  • Haicheng surpasuny pump
  • Grundfos 
  • Falcon Pumps Pvt. Ltd.
  • KSB SE & Co.
  • The Flowserve Corporation
  • Cornell pump company
  • Walrus Pump
  • Other Prominent Players

Global Industrial Pumps: Regions

Global Industrial pumps market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The market for Industrial pumps is dominated by APAC. The dominance of the region can be linked to tremendous economic growth. Because of the low cost of raw materials and labor, the region is attracting investors to build up manufacturing enterprises. Industrial activity is increasing as a result of reduced manufacturing costs and local government backing. One of the factors boosting the industrial pumps market in Asia Pacific is increased R&D spending.

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Global Industrial pumps is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Industrial pumps report also contains analysis on:

Industrial pumps Segments:

  • By Type
    • Centrifugal pump
    • Positive displacement pump
    • Other
  • By Application
    • Oil & Gas
    • Chemicals
    • Construction
    • Power
    • Water & Wastewater
    • Other
  • Industrial pumps Dynamics
  • Industrial pumps Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

Industrial pumps Market Report Scope and Segmentation

Report Attribute Details
Market size value in 2020 USD 35.6 billion
Revenue forecast in 2030 USD 59.2 billion
Growth Rate CAGR of 5.1% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, Application, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Wilo SE, The Kirloskar Group, Haicheng surpasuny pump, Grundfos, Falcon Pumps Pvt.Ltd., KSB SE & Co., The Flowserve Corporation, Cornell pump company, Walrus Pump and Other Prominent Players

Frequently Asked Questions (FAQ):

The Industrial pumps Market size was estimated at USD 35.6 billion in 2020 and is expected to reach 59.2 billion by 2030.

Key players: Wilo SE, The Kirloskar Group, Haicheng surpasuny pump, Grundfos, Falcon Pumps Pvt.Ltd., KSB SE & Co., The Flowserve Corporation, Cornell pump company, Walrus Pump, and Other Prominent Players

Centrifugal pump segment and Water & Wastewater segment are anticipated to hold the largest Industrial pumps Market.

Drivers: Demand in the agriculture sector as well as construction industry and Rise in environmental problems

In the process industry, industrial pumps are used to regulate, control, and direct gases, liquids, vapors, slurries, and other fluids. To achieve efficient flow management in industries such as water and wastewater, oil and power, food and beverages, chemicals, and others, they are mostly made of cast iron, stainless steel, carbon steel, and other high-functioning metal alloys.

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