Pumps Market Forecasts to 2030 – Global Analysis By Pump Type (Centrifugal Pumps and Positive Displacement Pumps), By Application (Water & Wastewater Treatment, Agriculture, Chemical, Industrial and Other Applications) and By Geography

Pumps Market Forecasts to 2030 – Global Analysis By Pump Type (Centrifugal Pumps and Positive Displacement Pumps), By Application (Water & Wastewater Treatment, Agriculture, Chemical, Industrial and Other Applications) and By Geography

According to Stratistics MRC, the Global Pumps Market is accounted for $51.6 billion in 2023 and is expected to reach $78.7 billion by 2030 growing at a CAGR of 6.2% during the forecast period. Pumps are mechanical devices designed to move fluids, such as liquids or gases, from one place to another. They operate by applying mechanical force to the fluid, typically through rotary or reciprocating motion, creating pressure or suction to facilitate the fluid's flow. Pumps are widely used in various applications, including water supply, wastewater treatment, oil and gas production, and industrial processes.

According to the IEA, pumps are responsible for approximately 10% of global electricity consumption.

Market Dynamics:

Driver:

Expansion of industries globally

As industries expand across various sectors such as manufacturing, oil and gas, water and wastewater, and construction, there is a growing demand for pumping equipment to facilitate processes like fluid transfer, circulation, and pressure regulation. This expansion drives the need for efficient and reliable pumping solutions to support industrial operations, infrastructure development, and resource management, thereby creating opportunities for pump manufacturers to cater to diverse and expanding market segments worldwide.

Restraint:

High initial investment required for advanced pump technologies

Advanced technologies offer benefits like increased efficiency, reliability, and automation, but their adoption is hindered by the substantial upfront costs involved in research, development, and implementation. This financial barrier may deter smaller players or budget-constrained industries from investing in cutting-edge pump solutions, limiting market penetration and potentially slowing down the overall advancement and innovation within the industry.

Opportunity:

Growing emphasis on water conservation and wastewater treatment

The growing emphasis on water conservation and wastewater treatment presents a significant opportunity in the pumps market. As societies worldwide prioritize sustainability and environmental stewardship, there's an increasing demand for pumps that can efficiently manage water resources and facilitate wastewater treatment processes. Pump manufacturers can capitalize on this trend by developing and offering innovative solutions designed to optimize water usage, reduce waste, and enhance treatment efficiency. This presents fertile ground for growth and expansion in the pump market, particularly for companies specializing in environmentally friendly and water-saving technologies.

Threat:

Environmental concerns related to energy consumption and emissions

Environmental concerns regarding energy consumption and emissions represent a notable threat to the pumps market. As industries strive for sustainability and regulatory bodies impose stricter environmental standards, there's growing pressure to reduce energy usage and minimize carbon emissions associated with pump operations. Pumps are significant consumers of energy, especially in applications such as water distribution, wastewater treatment, and oil extraction. Failure to address these concerns not only leads to increased operating costs but also poses reputational risks for companies, potentially resulting in the loss of business opportunities and market share.

Covid-19 Impact:

The COVID-19 pandemic had a mixed impact on the pumps market. Initially, disruptions in supply chains and construction activities led to decreased demand for pumps across various industries. However, as economies began to recover, increased investments in infrastructure projects, healthcare facilities, and water treatment systems bolstered demand for pumps. Additionally, the shift towards remote monitoring and automation accelerated the adoption of smart pumping solutions.

The centrifugal pumps segment is expected to be the largest during the forecast period

In the pumps market, the centrifugal pumps segment is anticipated to dominate during the forecast period. This is attributed to their widespread application across various industries such as water and wastewater management, oil and gas, power generation, and chemical processing. Centrifugal pumps offer advantages like high efficiency, ease of operation, and versatility in handling different fluids and flow rates. Additionally, ongoing advancements in centrifugal pump technology, including the development of more efficient and durable designs, further drive their market dominance.

The water & wastewater treatment segment is expected to have the highest CAGR during the forecast period

The water and wastewater treatment segment is poised to experience lucrative growth during the forecast period in the pumps market. This is primarily due to increasing global concerns regarding water scarcity, pollution, and the need for efficient water management solutions. Growing urbanization, industrialization, and stringent environmental regulations are driving investments in water and wastewater treatment infrastructure, thus boosting the demand for pumps tailored to these applications.

Region with largest share:

The Asia Pacific region is poised to lead the pumps market during the forecast period due to rapid industrialization, urbanization, and infrastructural development in countries like China, India, and Southeast Asian nations, which are driving significant demand for pumps across various sectors such as water and wastewater management, manufacturing, and construction. Additionally, government initiatives to improve access to clean water and upgrade infrastructure further bolster pump demand in the region, solidifying its position as a key market player.

Region with highest CAGR:

The North American region is positioned for significant growth in the pumps market due to several factors. These include increasing investments in infrastructure projects, particularly in sectors such as water and wastewater management, oil and gas exploration, and industrial manufacturing. Additionally, stringent environmental regulations driving the demand for energy-efficient and eco-friendly pumping solutions contribute to market expansion. Moreover, technological advancements and the adoption of smart pumping systems further stimulate growth opportunities in the North American pumps market.

Key players in the market

Some of the key players in Pumps Market include Ebara Corporation, Flowserve Corporation, Gorman-Rupp, Grundfos, Ingersoll Rand, ITT INC., IWAKI Co. Ltd, KSB SE & Co. KGaA, MCE - Motion & Control Enterprises, LLC, Pentair, Schlumberger Ltd, SLB, SPX FLOW, Inc, Sulzer Ltd, The Weir Group PLC, Vaughan Company and Xylem.

Key Developments:

In February 2023, Motion & Control Enterprises completed the acquisition of Precision Pump & Valve, an established distributor specializing in safety relief and control valves, pumps, and associated equipment. Precision Pump & Valve is renowned for providing tailored solutions to the oil and gas, petrochemical, and chemical processing markets.

In March 2023, Gorman Rupp Europe announced the launch of its new rental pump platform. The platform, which the business introduced in February in the Netherlands, intends to provide ""faster, easier, and more reliable"" pump renting. The platform has a 10-step pump picker tool that can suggest the best pump for a certain project.

In December 2022, the new in-line pump model 3E/3ES was introduced by EBARA Pumps Europe S.p.A. in Gambellara, Italy, for markets worldwide excluding Japan. To further seek efficiency and innovation, the EBARA Group will concentrate on product development.

Pump Types Covered:
• Centrifugal Pumps
• Positive Displacement Pumps

Applications Covered:
• Water & Wastewater Treatment
• Agriculture
• Chemical
• Industrial
• Oil & Gas
• Power Generation
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances