Pumps Market Size - By Type (Portable, Stationary), Position (Submersible, Non-submersible), Driving Force (Engine-Driven, Electrical-Driven), Technology, End-User, Regional Outlook & Forecast, 2024 - 2032

Pumps Market Size - By Type (Portable, Stationary), Position (Submersible, Non-submersible), Driving Force (Engine-Driven, Electrical-Driven), Technology, End-User, Regional Outlook & Forecast, 2024 - 2032

Global Pumps Market size will record a 4% CAGR from 2024 to 2032, attributed to innovations in pump technology coupled with an increasing focus on clean water supply and wastewater management. Technological advancements enhance pump efficiency, reliability, and performance, catering to diverse applications. As urbanization and industrialization rise, the demand for effective water treatment and sanitation solutions intensifies. This growing emphasis on environmental sustainability and resource management underscores the need for advanced pumps, propelling market expansion and meeting global water management challenges.

For instance, in October 2023, the KSB Group introduced a novel submersible pump featuring an open multi-vane impeller within a discharge tube. This new product line is designated as AmaCan D. This innovation suggests that KSB is addressing the growing demand for advanced solutions in sectors such as water and wastewater treatment, agriculture, and infrastructure development. The AmaCan D series positions KSB to better meet industry needs, potentially driving market growth and setting new standards for submersible pump performance.

The pumps industry is divided based on type, position, driving force, technology, end-user, and region.

The submersible pump segment will experience a remarkable upswing by 2032, owing to its widespread use in various applications such as water supply, drainage, and irrigation. These pumps offer advantages like efficient operation, space-saving design, and suitability for submerged installation, making them ideal for diverse industries and environments. With increasing demand for reliable and energy-efficient pumping solutions, especially in sectors like agriculture, construction, and mining, the submersible pump segment will maintain its dominance in the market.

The water and wastewater treatment segment will achieve a considerable foothold through 2032, driven by increasing global emphasis on clean water supply and sanitation. With growing urbanization and industrialization, the demand for efficient water treatment processes escalates, driving the need for pumps in sewage treatment plants, desalination facilities, and municipal water systems. Additionally, stringent regulations regarding water quality and environmental sustainability will further bolster the demand for pumps in this segment, ensuring its prominence in the overall market landscape.

North America pumps market share will exhibit a noteworthy CAGR during 2024 and 2032 due to robust industrial and agricultural sectors. The region's investments in water infrastructure and oil and gas exploration drive demand for pumps across various applications. Additionally, stringent regulations regarding water conservation and environmental protection stimulate market growth. With its advanced manufacturing capabilities and technological innovations, North America will emerge as a pivotal contributor to the expansion of the global pumps industry.