Global Positive Displacement Pumps Market 2023

Global Positive Displacement Pumps Market 2023

The global positive displacement pumps industry has seen strong growth, with the market size increasing from USD 7,474 million in 2020 to USD 8,858 million in 2023 at a CAGR of 5.8%. It is projected to reach USD 10,839 million by 2028, with a CAGR of 4.1% from 2023 to 2028. The rebound in revenue in 2023 was driven by increased demand in Asia-Pacific and North America, particularly in hygienic and sterile applications in the food, beverage, and healthcare industries. This surge in demand led to a rise in new orders for positive displacement pumps.

The size of North America positive displacement pumps industry increased from US$ 2,226 million in 2020 to US$ 2,668 million in 2023 at a CAGR of 6.2%, which is expected to reach US$ 3,263 million in 2028 with a CAGR of 4.1% from 2023 to 2028, according to Tanalyze. In 2023, North American manufacturers are focusing on resolving supply chain vulnerabilities, promoting domestic production, and investing in clean energy. The region has experienced signs of recovery in manufacturing activities, but supply chain constraints and economic barriers have posed challenges.

The top 5 players in the global pumps market held a combined market share of over 20% in 2022. These leaders included Flowserve Corp., Sulzer AG, KSB SE & Co. KGaA, Xylem, Inc., and Grundfos AS. Other prominent companies operating in this market include ITT, Inc., IDEX Corporation, Dover Corporation, Ebara Corporation, SPX Flow, Inc., Ingersoll Rand Inc., among others.