New York, United States , June 19, 2023 (GLOBE NEWSWIRE) -- The Global Industrial Pumps Market Size is to grow from USD 62.45 Billion in 2022 to USD 100.76 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period.
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Industrial pumps are vital components used in various industries to transfer fluids and gases. They convert mechanical energy into hydraulic energy to move liquids, boost pressure, and circulate fluids within industrial processes. Available in different types, such as centrifugal, positive displacement, and reciprocating pumps, they cater to specific applications and operational requirements. Industrial pumps are crucial in sectors like manufacturing, oil and gas, chemical processing, and water treatment. They are continuously evolving with technological advancements, providing enhanced efficiency, durability, and adaptability to handle demanding environments. The reliable performance of industrial pumps ensures smooth operations and contributes to the overall productivity of industrial systems.
Report Coverage
This research report categorizes the market for industrial pumps market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the industrial pumps market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the industrial pumps market.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on, "Global Industrial Pumps Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Centrifugal Pump, Positive Displacement Pump, and Others), By Application (Oil & Gas, Chemicals, Construction, Power Generation, Water & Wastewater, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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The positive displacement pumps segment is expected to grow at a CAGR of around 5.6% during the forecast period.
Based on product type, the global industrial pumps market is segmented into centrifugal pump, positive displacement pump, and others. The positive displacement pumps segment is anticipated to experience significant growth in the forecast period. Several factors contribute to this positive outlook. The positive displacement pumps offer precise and consistent fluid flow, making them suitable for applications that require accurate dosing or metering. They are widely used in industries such as pharmaceuticals, food and beverages, and chemical processing. Additionally, positive displacement pumps can handle high-viscosity fluids and effectively pump solids-laden or shear-sensitive materials. With increasing demand for efficient handling of such substances, the positive displacement pumps segment is expected to witness growth. Furthermore, advancements in pump design and technology, including improved sealing and efficiency, further enhance the appeal and performance of positive displacement pumps, driving their adoption in various industries.
The chemical industry segment is expected to grow at a CAGR of around 5.1% during the forecast period.
Based on application, the global industrial pumps market is segmented into oil & gas, chemicals, construction, power generation, water & wastewater, and others. The chemical industry segment is anticipated to witness significant growth in the forecast period. This can be attributed to several factors. The chemical industry plays a vital role in various sectors, including manufacturing, pharmaceuticals, and agriculture. The demand for chemicals for manufacturing processes, production of pharmaceuticals, and crop protection fuels the need for industrial pumps in this sector. Additionally, stringent regulations regarding the handling and transportation of chemicals require reliable and efficient pumping systems. As the chemical industry continues to expand and innovate, the demand for industrial pumps for fluid transfer, chemical processing, and other applications is expected to grow steadily.
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Europe is predicted to grow at a highest CAGR of 6.2% over the projected period.
Based on region, Europe is poised for rapid growth in the forecast period within the industrial pumps market. Several factors contribute to this positive outlook. The region's focus on sustainable development and energy efficiency drives the demand for advanced pump technologies. Stringent environmental regulations and initiatives promoting renewable energy sources create opportunities for pump applications in sectors such as wastewater treatment and renewable power generation. Moreover, Europe's thriving manufacturing industry, including automotive and chemical sectors, fuels the need for industrial pumps. Additionally, increasing investments in infrastructure projects and the replacement of aging pump systems further boost market growth. With these factors combined, Europe is expected to witness substantial growth in the industrial pumps market in the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global industrial pumps market include Grundfos Holding A/S, Xylem, Ingersoll-Rand, Flowserve Corporation, SPZ Flow, KSB SE &Co. KGaA, Sulzer Ltd., Pentair, Iwaki Co. Ltd., ITT, INC., Schlumberger Limited, EBARA International Corporation, The Weir Group PLC, Vaughan Company, and Hermetic-Pumpen GmbH and others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global industrial pumps market based on the below-mentioned segments:
Industrial Pumps Market, By Product Type
- Centrifugal Pump
- Positive Displacement Pump
- Others
Industrial Pumps Market, By Application
- Oil & Gas
- Chemicals
- Construction
- Power Generation
- Water & Wastewater
- Others
Industrial Pumps Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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