Dublin, May 29, 2024 (GLOBE NEWSWIRE) -- The "Industrial Pumps - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Industrial Pumps Market to Reach $87.4 Billion by 2030
The global market for Industrial Pumps estimated at US$62.7 Billion in the year 2023, is projected to reach a revised size of US$87.4 Billion by 2030, growing at a CAGR of 4.2% over the analysis period 2023-2030. Centrifugal Pumps, one of the segments analyzed in the report, is projected to record a 4.2% CAGR and reach US$58 Billion by the end of the analysis period. Growth in the Positive Displacement Pumps segment is estimated at 4.6% CAGR for the next 8-year period.
The industrial pumps market includes various types such as centrifugal, positive displacement, peristaltic, and submersible pumps, each suited to different applications like water and wastewater treatment, oil and gas, and chemical processing. The market is poised for rapid growth, driven by increasing demand in these end-use sectors despite some market deterrents. Centrifugal pumps are expected to remain the dominant product category.
The U.S. Market is Estimated at $11.3 Billion, While China is Forecast to Grow at 5.8% CAGR
A global economic update and competitive landscape analysis reveal key competitors and their market shares in 2023. The overall market outlook is positive, with regional analysis indicating robust growth prospects across different regions.
The Industrial Pumps market in the U.S. is estimated at US$11.3 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$22.7 Billion by the year 2030 trailing a CAGR of 5.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast a revised size of US$16.3 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 1038 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $62.7 Billion |
| Forecasted Market Value (USD) by 2030 | $87.4 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- A Prelude to Industrial Pumps
- Different Types of Industrial Pumps
- Applications of Industrial Pumps
- End-uses of Industrial Pumps
- Global Economic Update
- Competitive Landscape
- Industrial Pumps - Global Key Competitors Percentage Market Share in 2023 (E)
- Global Market Prospects and Outlook
- Global Industrial Pumps Market Set for a Rapid Growth
- Growth Drivers
- Market Deterrents
- Centrifugal Pumps to Remain Dominant Product Category as Demand Surges
- Regional Analysis
- Market Outlook
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Growing Industry Focus on Water Reuse Amid Looming Water Crisis Benefits Demand for Industrial Pumps
- Applications of Water Reuse
- Select Stats Highlighting World Water Crisis and Need for Water Reuse
- World Water Resources: Percentage Breakdown by Water Quality
- Increasing Levels of Water Contamination Drive the Need for Industrial Pumps
- Water & Wastewater Industry: Focus on Infrastructure Development Drives Demand
- Growing Need for Innovative Technologies
- Recovery in the Construction Industry to Boost Demand for Industrial Pumps
- Planned Construction Projects as Bright Spot in 2023
- US Construction Outlook
- Thrust Towards Digitalization and Automation across Industries Augurs Well for Long-Term Growth
- Rise of Industry 4.0 & Smart Factory Mandates Technology Adjustments to Industrial Pumps Market
- Digitalized Pumps to Drive the Industrial Pumps Market to Greater Heights
- Heightened Demand for Smart Pumps
- Select Leading Smart Pumps Available in the Market
- Expansion in Oil & Gas Sector Augurs Well for Market Growth
- Inflated Oil Prices Drive Global Capital Expenditure
- Growing Relevance of Industrial Pumps in Power Industry
- China and India Lead the Global Rise in Demand for Electricity
- Increased Demand in Chemicals Industry Bodes Well for Market Growth
- Urban Sprawl Extends Broad-based Opportunities
- Smart City, the New Urban Infrastructure Concept, to Fuel Fresh Wave of Growth
- Speed Flow Controllers to Change the Game for Industrial Pumps
- Innovated Compact Pumps to Make their Way
- Rising Demand for Industrial Pumps in Textile Industry
- Select Innovations in the Industrial Pumps Industry to Drive Market Expansion
- Switch from Gas Pumps to Electric - A Significant Trend
- Extremely Precise Flow Control Pumps to Foray into the Market
- On-Demand "Smart Pump" Applications
- Waste Reduction and Sustainability
- Chemical Compatibility
- Compact Pump Footprint
FOCUS ON SELECT PLAYERS (Total 297 Featured)
- Baker Hughes Company
- Danfoss AS
- Dover Corporation
- EBARA Corporation
- Flowserve Corporation
- General Electric Company
- Grundfos Holding AS
- ITT Inc.
- KSB SE & Co. KGaA
- Ruhrpumpen Group
- Schlumberger Ltd, doing business as SLB
- SPP Pumps Inc.
- SPX Flow Corporation
- Sulzer Ltd.
- The Weir Group plc
- Wilo Mather & Platt Pumps Pvt. Ltd
- Xylem Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2f0z34
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