Industrial Pumps

Industrial Pumps

Global Industrial Pumps Market to Reach US$89.6 Billion by 2030

The global market for Industrial Pumps estimated at US$62.8 Billion in the year 2023, is expected to reach US$89.6 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2023-2030. Centrifugal Pumps, one of the segments analyzed in the report, is expected to record a 5.1% CAGR and reach US$59.5 Billion by the end of the analysis period. Growth in the Positive Displacement Pumps segment is estimated at 5.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$11.3 Billion While China is Forecast to Grow at 7.1% CAGR

The Industrial Pumps market in the U.S. is estimated at US$11.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$23.4 Billion by the year 2030 trailing a CAGR of 7.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.0% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.

Global Industrial Pumps Market - Key Trends & Drivers Summarized

Industrial pumps are mechanical device or machine that uses force to transport slurries or fluid. The power driving the pump can be a manual operation, wind power, or electricity engine, and it usually works on rotary and reciprocating mechanisms. The primary usage of the pump involves several, like water pumping from wells, cooling towers, fuel injection, and many more. The application of a heavy-duty industrial pump involves several items, including chemicals, water, wastewater, gasoline, tar, food, slurry, or sludge. The most commonly used pumps for industrial use are positive displacement pumps and centrifugal pumps, among several pumps available. Pumps are vital components in industrial environments as these equipment aid in moving liquids from the one point to another, and ensure uninterrupted and effective completion of processes and operations.

Technological advancements have significantly enhanced the performance and efficiency of industrial pumps. Innovations in materials and design have led to the development of pumps that can handle more corrosive and abrasive substances, operate at higher temperatures and pressures, and offer longer service lives. For instance, the use of advanced composites and coatings can enhance the durability and corrosion resistance of pump components. Additionally, the integration of smart technologies and the Industrial Internet of Things (IIoT) has revolutionized pump monitoring and maintenance. Smart pumps equipped with sensors and connectivity features enable real-time monitoring of performance parameters such as flow rate, pressure, and temperature. This data can be analyzed to predict maintenance needs, prevent failures, and optimize energy consumption, thereby improving overall operational efficiency.

The global industrial pumps market is growing led by increased product application across multiple industrial sectors, encompassing oil and gas, petrochemicals, chemicals and wastewater treatment, and higher demand for efficient and durable pumps in the heavy and light mechanical industries. The growth is also supported by the fast-paced urbanization and infrastructure development, and greater demand for energy, which is causing expansion of and a rise in exploration activities in the oil and gas sector. The power sector is an important growth driver, where industrial pumps of various shapes and sizes are used for sludge handling, boiler feed and circulation. Chemical industry is another major end-user, with industrial pumps driving performance and ensuring safety of the workforce and the surrounding workplace environment. The expanding infrastructure and urbanization in emerging economies are boosting demand for water and wastewater treatment solutions, driving the need for reliable and efficient pumps. The increasing focus on automation and smart manufacturing is also promoting the adoption of smart pumps, which offer enhanced monitoring and control capabilities. Finally, the ongoing investments in the chemical and pharmaceutical industries, which require precise and reliable pumping solutions for their processes, are supporting the sustained growth of the industrial pumps market.

Select Competitors (Total 302 Featured) -

• Baker Hughes Company
• Danfoss AS
• Dover Corporation
• EBARA Corporation
• Flowserve Corporation
• General Electric Company
• Grundfos Holding AS
• ITT Inc.
• KSB SE & Co. KGaA
• Ruhrpumpen Group
• Schlumberger Ltd, doing business as SLB
• SPP Pumps Inc.
• SPX Flow Corporation
• Sulzer Ltd.
• The Weir Group plc
• Wilo Mather & Platt Pumps Pvt. Ltd
• Xylem Inc.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.