North America Pump Market Outlook, 2029

North America Pump Market Outlook, 2029

The North American pump market is a dynamic and important part of the region's industrial landscape, with applications spanning from oil and gas to water and wastewater management, manufacturing, construction, and agriculture. North America is one of the world's largest and most developed marketplaces, with a strong infrastructure and a diverse economy that has a considerable impact on demand and growth trends in the pump market. One of the primary factors affecting the North American pump market is the region's significant investments in infrastructure expansion and modernization programs. With aging infrastructure in several sectors, there is an increasing demand for efficient pumping solutions to keep operations running, increase productivity, and assure sustainability. Government projects aim to upgrade water treatment facilities, grow oil and gas pipelines, and improve wastewater management systems to further fuel the demand for pumps across the region. Furthermore, the flourishing oil and gas industry in North America, particularly in the United States and Canada, remains a major contributor to the pump market. The shale revolution has propelled the region to become a global leader in energy production, increasing demand for pumps used in drilling, extraction, refining, and transportation. Hydraulic fracturing, for example, has enhanced efficiency and productivity in oil and gas operations, encouraging the use of modern pumping systems. Furthermore, the emphasis on environmental sustainability and energy efficiency is propelling innovation in the North American pump industry. Manufacturers are increasingly focusing on designing energy-efficient pumps with lower carbon footprints to meet regulatory regulations and end-user sustainability aspirations. Variable-frequency drives (VFDs), IoT-enabled smart pumps, and advanced control systems are among the innovations gaining traction in the market, offering enhanced performance, reliability, and cost savings.

According to the research report ""North America Pumps Market Outlook, 2029,"" published by Bonafide Research, the North America Pumps market was valued more than USD 15 Billion in 2023. Pump makers can find large prospects in North America's agriculture sector, particularly in irrigation and water management applications. With a huge area of arable land and a diverse range of crops, efficient water distribution systems are critical for increasing agricultural production and food security. Pumps are critical components of irrigation systems, providing farmers with dependable water delivery options that enhance crop yields while minimizing resource waste. North America is prone to storms and floods, particularly in coastal and low-lying areas. Pump systems, such as dewatering pumps and flood control pumps, are crucial in flood mitigation because they drain water from inundated areas while also safeguarding infrastructure and communities from water-related calamities. Both the United States and Canada have undertaken steps to achieve energy independence and reduce dependency on foreign oil supplies. This has resulted in increasing exploration and production, pushing up demand for pumps used in oil and gas extraction, processing, and transportation infrastructure. Environmental conservation and sustainability are top priorities in North America, which has resulted in the implementation of severe rules governing industrial processes, including pumps. Pump manufacturers must follow environmental standards and offer eco-friendly solutions to reduce their environmental impact and meet regulatory criteria. North America has tremendous geothermal energy potential, especially in active geothermal areas such as the western United States and parts of Mexico. Geothermal pumps employ heat from subsurface reservoirs to generate power and heat buildings, adding to the region's renewable energy portfolio while reducing dependency on fossil fuels. North America is a hotbed of pump technology innovation, with multiple research institutions, universities, and businesses driving the development of cutting-edge pump solutions. 3D printing, IoT connectivity, and predictive maintenance algorithms are driving pump innovation, resulting in improved performance, efficiency, and reliability across a wide range of applications.

Major Drivers

Infrastructure development and modernization initiatives: Infrastructure expansion and modernization programs are important drivers for the North American pump market. Across the region, there is an urgent need to improve and extend current infrastructure in water treatment, wastewater management, energy distribution, and transportation. Aging infrastructure, combined with population growth and urbanization trends, has generated a need for improved pumping systems that may improve efficiency, dependability, and sustainability. Government-led attempts to revitalize infrastructure, such as the United States' planned infrastructure bills, which allocate cash for water infrastructure improvements and clean energy projects, are pushing pump investments. Furthermore, private-sector participation in infrastructure projects, such as partnerships and public-private collaborations, increases demand for pumps.

Water scarcity challenges and water management initiatives: Water scarcity challenges, as well as measures for efficient water management, are important drivers of the North American pump industry. Despite the region's abundant water resources, some places, particularly in the western United States and parts of Mexico, are experiencing water scarcity as a result of droughts, population increases, and inadequate water distribution systems. This has resulted in greater investment in water infrastructure and technologies aimed at optimizing water usage, decreasing waste, and providing consistent availability of clean water. Pumps play an important role in many aspects of water management, including water intake from natural sources like rivers and lakes, water treatment processes in municipal and industrial facilities, water distribution via pipelines and irrigation networks, and wastewater collection and treatment. Governments, utilities, and industry are implementing water conservation measures, water reuse strategies, and advanced water treatment technologies to address water scarcity concerns and comply with regulatory requirements. As a result, there is growing demand for pumps that can handle diverse water sources, operate efficiently, and withstand challenging environmental conditions.

Major Challenges

Regulatory compliance and environmental standards: The North American pump market has substantial obstacles in terms of regulatory compliance and adherence to strict environmental regulations. Government rules, such as those implemented by the Environmental Protection Agency (EPA) in the United States and similar agencies in Canada and Mexico, place stringent restrictions on industrial activities, including the usage of pumps. In order to maintain regulatory compliance, manufacturers must guarantee that their pump products fulfill particular efficiency standards, emissions restrictions, and environmental factors. This frequently requires expenditures in R&D to create eco-friendly pump technologies that use less energy, emit less pollution, and have a lower environmental impact.

Volatility in energy prices and input costs: The pump sector relies heavily on energy resources such as electricity, diesel, and natural gas for both manufacturing and operational purposes. Energy price fluctuations, which are influenced by geopolitical tensions, supply-demand dynamics, and regulatory changes, can have an impact on pump makers' production costs and profitability. Furthermore, the price volatility of raw materials used in pump production, such as metals, plastics, and rubber, complicates cost management and pricing methods. Pump manufacturers must use risk management techniques such as hedging and supply chain optimization to reduce the impact of energy price volatility and input cost fluctuations on their operations and financial performance.

The product segment of the market includes centrifugal pump, positive displacement pump, others. Among them centrifugal pump product is expected to lead the North America pumps market. Based on centrifugal pump segment market is divided into axial flow pump, radial flow pump, mixed flow pump. Radial pump is expected to play key role in North America pumps market.

Centrifugal pumps are extremely adaptable and can be utilized in a variety of applications, including water supply and distribution, wastewater management, HVAC systems, chemical processing, oil and gas production, mining, and agriculture. Their capacity to handle a wide range of fluids, including liquids with varied viscosities and solid content, makes them useful for a variety of industrial and commercial applications. As a result, centrifugal pumps serve a diverse customer base across different industries, resulting in widespread acceptance and market supremacy in North America. Centrifugal pumps are well-known for their great efficiency and performance, making them ideal for a wide range of applications. Their simple design, which consists of a revolving impeller that drives fluid outward, produces smooth, continuous flow with little pulsation and vibration. Centrifugal pumps offer advantages such as low maintenance requirements, reduced downtime, and energy savings compared to other types of pumps, such as positive displacement pumps. Radial pumps are ideal for specialized applications that require high pressure and low flow rates. These pumps are intended to create high head or pressure, making them excellent for applications such as high-pressure water jetting, hydraulic power units, and some industrial operations that require precise pressure control. Radial pumps are critical in industries like automotive manufacture, aerospace, and construction because they provide the high-pressure fluid force needed for cutting, cleaning, forming, and shaping processes. Radial pumps are often more compact and space-efficient than other types of pumps, making them ideal for installations with limited space or a smaller footprint. In applications in which gear or equipment must be housed in limited places, such as on-board vehicles, airplanes, or mobile hydraulic systems, radial pumps offer advantages in terms of installation flexibility and space optimization. Their compact design allows for easy integration into existing equipment or systems without requiring extensive modifications or space accommodations.

In terms of positive displacement pump segment market includes reciprocating, rotary, others. Rotary positive displacement pump type is expected to lead the North America pumps market. In terms of application segment market is divided into agriculture, building & construction, waste & wastewater, power generation, oil & gas, chemical and others. Agriculture is among major application for pumps n North America pumps market.

Rotary positive displacement pumps are versatile and can handle a wide range of fluids, including viscous liquids, slurries, and abrasive materials. Their capacity to maintain a continuous flow rate despite variations in system pressure or viscosity makes them useful for a wide range of sectors, including food and beverage, pharmaceuticals, chemicals, and petrochemicals. Rotary positive displacement pumps are renowned for their great efficiency and dependability in delivering consistent flow rates and pressures over a wide range of operating situations. Unlike centrifugal pumps, which utilize centrifugal force to generate flow, positive displacement pumps use mechanical action to trap and transport fluid through the pump chamber, resulting in exact volumetric displacement and predictable performance. This intrinsic design feature makes rotary positive displacement pumps appropriate for applications that require accurate metering, dosing, and transfer of fluids with minimal pulsation or shear. Agriculture is primarily reliant on irrigation to supplement natural rainfall and maintain a regular water supply for crops. Pumps are essential components of irrigation systems because they collect water from sources like rivers, lakes, wells, and reservoirs and distribute it to fields via pipes, sprinklers, or drip irrigation systems. In North America, where large-scale commercial farming is common, effective irrigation systems driven by pumps are critical for increasing crop yields, optimizing water use efficiency, and managing the effects of droughts and seasonal changes in rainfall. Pumps are also used in animal farms to provide water for drinking, sanitation, and cooling. Water pumps are installed in livestock watering systems, watering troughs, and automated drinking systems to ensure a clean and consistent water supply for livestock animals, such as cattle, poultry, and swine. Additionally, pumps are used in feed delivery systems to transport feed ingredients, supplements, and medications to livestock feeders, ensuring proper nutrition and health management for animals raised in intensive farming operations.

Based on report market is divided into three major countries including United States, Canada and Mexico. United States is predicted to lead the North America pumps market.

The United States has the largest and most robust economy in North America, with a varied range of industries fueling demand for pumps across all sectors. Pump demand in the United States is primarily driven by industries such as oil and gas, water and wastewater, manufacturing, agriculture, construction, and mining. The country's strong economic fundamentals, such as GDP growth, industrial output, and infrastructure investment, support its leadership in the North American pump market. The United States has excellent industrial infrastructure and technological capabilities, which promote innovation and development in the pump market. The country is home to several pump manufacturers, engineering businesses, research organizations, and technological hubs that drive breakthroughs in pump design, materials, and manufacturing methods. Technological innovations such as smart pumps, IoT-enabled systems, and energy-efficient solutions originate from the United States, reinforcing its position as a leader in pump technology and innovation within the North American market. The United States has issues such as aging water infrastructure, water scarcity, and environmental sustainability, which are driving investment in water infrastructure projects and technology. Municipalities, utilities, and industry invest in pumps for water treatment, distribution, wastewater management, and flood control to maintain consistent water supply and regulatory compliance. Federal funding programs and efforts, such as the Clean Water State Revolving Fund (CWSRF) and the Drinking Water State Revolving Fund (DWSRF), help to develop water infrastructure, increasing demand for pumps in the United States market.

The global pump market is extremely competitive, with numerous public and private companies. Efficiency, product reliability and availability, service capabilities, price, and other characteristics are all important competitive considerations. In terms of industry, the primary rival for aftermarket services in the oil and gas and chemical sectors is typically the consumer's in-house capacity. The nuclear power generation business faces fierce aftermarket competition for standardized equipment due to universal criteria that allow for easier replacement or repair of existing items. The vast installed base of pumps is a crucial competitive factor in the sale of aftermarket products and services, as the nature of the products and the conditions under which they perform need constant maintenance, repair, and replacement. When choosing an aftermarket provider, customers consider distribution speed, consistency, and service center location. Local marketing initiatives have played an important role in regional markets since consumers have traditionally relied on local providers rather than competitors. Local markets have seen increased rivalry for aftermarket products that are highly developed and individualized. Customers often want to reduce the number of vendors they buy from, hence reducing the scale and variety of their supply chain. Although supplier reduction initiatives are likely to affect suppliers' core businesses, they have effectively re-established long-term supply agreements with numerous clients.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Pump market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Centrifugal Pump
• Positive Displacement Pump
• Others

By Centrifugal Pump
• Axial Flow Pump
• Radial Flow Pump
• Mixed Flow Pump

By Positive Displacement Pump
• Reciprocating
• Rotary
• Others

By Application
• Agriculture
• Building & Construction
• Waste & Wastewater
• Power Generation
• Oil & Gas
• Chemical
• Others

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Pump industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.