The global Pumps market size is expected to be worth around US$ 121.3 billion by 2030, according to a new report by Vision Research Reports.
The global Pumps market size was valued at US$ 94.91 billion in 2020 and is anticipated to grow at a CAGR of 5.2% during forecast period 2021 to 2030.
|Market Size||USD 121.3 billion by 2030|
|Growth Rate||CAGR of 5.2% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product type, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Schlumberger Ltd.; Ingersoll Rand; Weir Group PLC; Vaughan Company Inc.; KSB SE & Co. KGaA; Pentair; Grundfos Holding A/S; Xylem; Flowserve Corp.; ITT Inc.; EBARA International Corp.; IWAKI Co., Ltd.; Sulzer Ltd.; SPX Flow|
Increasing investments in the oil & gas sector, technological advancements in pump manufacturing, and new product launches focusing on enhanced performance are expected to have a positive impact on the market. The chemical industry is expected to be negatively impacted by the novel coronavirus outbreak on numerous fronts, including operational and supply chain disruptions, lowered demand & productivity, and potentially tightening credit markets. Hence, the declining chemical industry is anticipated to hinder the market growth during the pandemic.
By Product Analysis
The centrifugal pump segment led the market in 2020 and accounted for 53% of the global revenue share. Centrifugal pumps are used for higher flows and hence, are extensively used in the chemical industry. These are preferred for low-pressure and high-capacity pumping applications of liquids with viscosities ranging between 0.1 and 200 cP.
Centrifugal pump is further segmented into axial flow, radial flow, and mixed flow pumps. The market of axial flow pumps is expected to show significant growth over the forecast period owing to the increasing demand for high-power pumps in flood dewatering and water & wastewater treatment applications.
The demand for positive displacements pumps is projected to witness growth at the fastest CAGR of 5.4%, in terms of revenue, from 2020 to 2030owing to their efficient working at lower speed and consistent flow rates. Moreover, the preference for positive displacement pumps in the oil & gas industry is likely to complement segment growth.
By Application Analysis
The agriculture application the market in 2020 with a revenue share of more than 26%. Technological advancements in the field of irrigation and farming, especially in emerging countries, coupled with the rising usage of pumps for several purposes in the agriculture segment, such as irrigation, dewatering of crops, reuse, are likely to boost the growth.
The demand for pumps in water & wastewater applications is aniticipated to grow at a CAGR of 5.6% from 2020 to 2030. The increasing requirement of pump stations in wastewater treatment plants, where gravity flow is not feasible, coupled with high flow rate deliverability and high transmission velocity is likely to augment the market growth.
By Regional Analysis
Asia Pacific led the market and dominated for 47.6% of the global revenue share in 2020. Rapid industrialization in the developing economies of Asia Pacific and rising investments in manufacturing, commercial, and industrial projects have contributed to the overall growth of the regional market. Furthermore, increased product penetration in various end-use industries including agriculture, petrochemical, and HVAC is anticipated to complement market growth.
The market in Brazil is projected to witness steady growth from 2020 to 2030 owing to a considerable rise in construction activities in the industrial and commercial sectors. In addition, an increase in the establishment of independent power plants and advancements in technology are anticipated to fuel the product demand in Brazil over the forecast period.
Weir Group PLC
Vaughan Company, Inc.
KSB SE & Co. KGaA
Grundfos Holding A/S
EBARA International Corp.
IWAKI Co., Ltd.
Axial Flow Pump
Radial Flow Pump
Mixed Flow Pump
Positive Displacement Pump
Construction & Building Services
Water & Wastewater
Oil & Gas
Central & South America
Middle East & Africa
The 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 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 Pumps market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the 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 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 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 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 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 Pumps market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of 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 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.
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 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 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 Pumps market. These factors have benefited the growth of the global market for 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 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 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
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.
The study objectives of this report are:
Magnetic Beads Market (By Application: Bioresearch, In-vitro Diagnostics) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030Read more...
Healthcare Powered Air Purifying Respirator Market (By Product: Full face mask, Half mask, Helmets, hoods & visors) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030Read more...
Timber Construction Connectors Market (By Product: Timber to Timber, Timber to Masonry, Timber to Steel; By Application: Residential, Commercial, Infrastructure) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030Read more...
Polyisobutylene Market (By Product: High Molecular Weight, Medium Molecular Weight, Low Molecular Weight; By Application: Adhesives & Sealants, Automotive Rubber Components, Fuel Additives, Lubricant Additives) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030Read more...
Plastic Contract Manufacturing Market (By Product: Polypropylene, ABS, Polyethylene, Polystyrene; By Application: Medical, Aerospace & Defense, Automotive, Consumer Goods & Appliances) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030Read more...