The global Industrial Pumps market size is expected to be worth around US$ 91.87 billion by 2030, according to a new report by Vision Research Reports.
The global Industrial Pumps market size was valued at US$ 60.21 billion in 2020 and is anticipated to grow at a CAGR of 3.11% during forecast period 2021 to 2030.
Growth Factors
Rising product demand from the water and wastewater, oil and gas, and chemical industries on account of the rapid population growth and industrialization across the globe is anticipated to drive the market.
Rapid technological advancements have resulted in augmenting the reliability of the pumps, enhancing basic process tasks, and providing a long-term reduction in everyday operating processes. These rising advancements have also resulted in the reduced energy consumption, enhanced pump performance, and reliability, thereby augmenting the product penetration.
Rising investments by the key pump manufacturers to develop low-cost manufacturing processes and advanced technology that focuses on higher productivity are anticipated to boost market growth over the forecast period. Furthermore, increasing expenditure on the development of infrastructure in various countries is expected to have a positive impact on market growth.
The investments in the chemical industry slowed down in 2020 on account of the containment measures implemented by various governments to limit the spread of COVID-19, coupled with the declining crude oil prices. In addition, the delay in the construction of approved chemical projects caused due to the intensifying COVID-19 situation globally is likely to hamper the market growth.
Report Highlights
Centrifugal pump led the market and accounted for 63.4% share of the global revenue in 2020. The demand for centrifugal pumps is projected to expand on account of the boom in hydraulic fracturing in the oil and gas industry in countries, including the U.S., Canada, the U.K., and Brazil. Centrifugal pump is further segmented into radial flow pump, axial flow pump, and mixed flow pump.
Positive displacement pumps are likely to expand at the fastest CAGR of 4.2% over the forecast period owing to their ability to work at lower speeds, which makes them less prone to damages caused by high viscosity oils and slurries. These are preferred in the oil and gas industry mainly because of the limitations of centrifugal pumps.
Reciprocating pumps are used in a wide variety of applications as they are known for their suction lift characteristics and are very simple in design. Furthermore, they have fewer parts enabling low maintenance and repair cost. The reciprocating pump finds applications in all kinds of liquid, including good grade fluid, acids, slurries, and various viscous fluids.
Submersible pumps are referred for applications for pumping excess water such as flooded basements or work sites in construction sites. They are also used for removing excess slurries. In the oil and gas industry, submersible pumps are used in offshore or inland oil wells for pumping oil from the ground to facilities above the surface.
The water and wastewater application segment led the market and accounted for a 24.7% share of the global revenue in 2020. Increasing demand for lift and sewage pumps on account of expanding industrial platforms and accumulation of wastewater in large volumes is expected to complement the segment growth. The growing manufacturing facilities across emerging countries are expected to play a crucial role in increasing the requirement of industrial pumps.
The oil and gas application segment is expected to expand at a CAGR of 3.6% over the forecast period on account of the rising demand for crude oil to facilitate production centers, domestic transports, and overseas logistics. The growth of the oil and gas industry is projected to increase the onshore and offshore exploration activities in the future, thereby driving the demand for industrial pumps capable of handling subsea pressures and providing utility functions.
Globally, the automotive, manufacturing, and construction sectors, which are major end users of chemical products, have witnessed tremendous expansion activities in the past decade. These sectors are also anticipated to witness significant growth in the next few years, leading to rising demand for chemicals. This, in turn, is likely to boost the demand for centrifugal, peristatic, and diaphragm pumps as they can handle most flammable, viscous, aggressive, and abrasive fluids with ease.
The rising population has resulted in an increased demand for energy, thereby contributing to the growth of the power generation industry. In the power generation industry, pumps are used in numerous applications, including boiler feed water services, cooling water services, circulating water services, condensate water services, flue gas desulfurization services, and auxiliary services.
Asia Pacific led the market and accounted for 44.9% share of the global revenue in 2020. The market is expected to grow on account of the tremendous growth of the end-use industries, including water and wastewater, chemical, and oil and gas. The rising need for reusable water is one of the major concerns in emerging countries, including India, China, and Malaysia. This is expected to have a positive impact on the regional market growth over the forecast period.
North America is anticipated to witness significant growth on account of the technological advancements pertaining to the superior performance of pumping systems in the region. Furthermore, rising demand for oil and gas from other sectors, such as commercial transportation and heating and cooling in residential and commercial applications, is anticipated to drive the oil and gas industry, thereby complementing the market growth in the region.
The market in Europe is anticipated to expand at a CAGR of 3.5% over the forecast period. Stringent regulations aimed at reducing water pollution at the domestic level are expected to play a key role in increasing the demand for water treatment in the municipal and industrial sectors, which, in turn, is expected to drive the pump industry over the forecast period.
Rising installations of the water and wastewater treatment plants in the Middle East and Africa due to the increasing demand for potable water in the residential and industrial sectors are expected to boost product demand. Furthermore, increasing demand for crude oil in order to facilitate production centers, overseas logistics, and domestic transports is expected to augment the offshore and onshore exploration activities in the region, thus positively impacting the market growth.
Key Players
Grundfos Pump Corp.
Xylem, Inc.
Ingersoll-Rand PLC
Flowserve Corp.
SPX Flow, Inc.
KSB SE & Co. KGaA
Sulzer Ltd.
Pentair PLC
Market Segmentation
Product Outlook
Centrifugal Pump
Axial Flow Pump
Radial Flow Pump
Mixed Flow Pump
Positive Displacement Pump
Reciprocating
Rotary
Others
Others
Application Outlook
Oil & Gas
Chemicals
Construction
Power
Water & Wastewater
Others
Regional Outlook
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Asia Pacific
China
India
Japan
Central & South America
Brazil
Argentina
Middle East & Africa
United Arab Emirates
Saudi Arabia
The Industrial Pumps market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Industrial Pumps market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Industrial Pumps market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Industrial Pumps market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Industrial Pumps market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Industrial Pumps capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Industrial Pumps by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Industrial Pumps market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Industrial Pumps market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Industrial Pumps market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Industrial Pumps industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Industrial Pumps market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Industrial Pumps market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Industrial Pumps market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Industrial Pumps market. These factors have benefited the growth of the global market for Industrial Pumps. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Industrial Pumps. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Industrial Pumps are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
Cross-segment Market Size and Analysis for
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