Pumps Market Size - By Type (Portable, Stationary), Position (Submersible, Non-submersible), Driving Force (Engine-Driven, Electrical-Driven), Technology, End-User, Regional Outlook & Forecast, 2024 – 2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

View Details Buy Now 2890 Download Sample Ask for Discount Request Customization

Pumps Market Size

The world is going pump crazy! In 2023, we pumped our money into pumps to the tune of 85 billion dollars. And get thisexperts say that by 2032, we'll be spending even more, with pumps expected to become a 100 billion dollar business. Why the sudden pump obsession? It's all about the rise of the industrial giants in countries like China, India, and Brazil. They're building cities like nobody's business, which means they need pumps for everything from getting water to their toilets to moving sewage out of their pipes. And let's not forget about all the new buildings being built in cities worldwide. They all need pumps to keep their water flowing and the air fresh. That's why the pump market is expected to grow faster than a rocket – over 4% every year for the next eight years. So, if you're looking for a hot investment, you might want to consider the pump market. It's not as glamorous as tech or renewable energy, but it's a steady and essential part of our modern world.

To get key market trends

  Download Free Sample

Additionally, innovations in pump technologies are enhancing efficiency, reliability, and performance, thereby driving market growth. Increasing emphasis on energy efficiency and environmental sustainability is prompting industries to replace older, less efficient pumps with newer, energy-efficient models. This is particularly evident in sectors like water and wastewater treatment, where energy consumption can be substantial. Despite fluctuations in oil prices, the oil and gas industry remain a significant consumer of pumps for activities such as extraction, refining, and transportation. Technological advancements in unconventional oil and gas extraction, such as shale gas fracking, have driven the demand for specialized pumps.

Pumps Market Report Attributes
Report Attribute Details
Base Year 2023
Pumps Market Size in 2023 USD 85 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 4%
2032 Value Projection USD 126 Billion
Historical Data for 2021 – 2023
No. of Pages 224
Tables, Charts & Figures 212
Segments covered Type, Position, Driving Force, Technology, and End User
Growth Drivers
  • Industrial growth
  • Water and wastewater management
  • Infrastructure development
Pitfalls & Challenges
  • High initial investment
  • Operational costs

What are the growth opportunities in this market?

 Download Free Sample

The capital-intensive nature of pump installations, especially for large-scale industrial applications, can be a significant barrier to entry for companies looking to invest in pump systems. The high initial investment required for purchasing, installing, and maintaining pumps can deter potential buyers, particularly in developing regions with limited financial resources. Additionally, beyond the initial investment, pumps often incur substantial operational costs related to energy consumption, maintenance, and repairs. As energy prices fluctuate and environmental regulations become more stringent, the operational costs associated with running pumps can become burdensome for end-users, leading them to seek alternative solutions or delay equipment upgrades.

Pumps Market Trends

As industries expand and new infrastructure projects emerge, there's a growing demand for pumps to facilitate processes such as water supply, wastewater treatment, and oil and gas transportation. Trends indicating increased industrial activity often correlate with a rise in pump demand. Innovations in industrial equipment often lead to the development of more efficient and reliable pump technologies. For instance, advancements in materials science, automation, and digitalization have resulted in the creation of high-performance pumps with better energy efficiency, reduced maintenance requirements, and enhanced operational capabilities.

Additionally, aging infrastructure and equipment in mature markets necessitate regular maintenance and replacement of pumps. Market trends related to maintenance practices, asset management strategies, and lifecycle costing influence the demand for replacement pumps and aftermarket services. Increasing environmental regulations drive industries to adopt more eco-friendly and energy-efficient solutions, including pumps. Manufacturers respond by developing pumps that comply with stringent environmental standards, such as those related to emissions, energy consumption, and waste reduction.

Pumps Market Analysis

Learn more about the key segments shaping this market

 Download Free Sample

Based on type, the portable segment valuation crossed USD 63 billion in 2023 and is expected to exceed USD 95 billion by 2032. Portable pumps are versatile and can be used in various applications across different industries, including construction, agriculture, mining, oil and gas, municipal, and firefighting. Their ability to be easily transported and deployed makes them highly sought after in situations where mobility is essential.

Additionally, portable pumps play a crucial role in emergency response situations such as flood control, dewatering operations, and firefighting. Their mobility allows them to be quickly deployed to areas in need, helping to mitigate damage and save lives. Portable pumps are typically designed for easy maintenance and serviceability, allowing users to quickly troubleshoot and repair them in the field. This ensures minimal downtime and maximum operational efficiency, further driving their popularity in the market

Learn more about the key segments shaping this market

 Download Free Sample

Based on technology, the hot segment accounted for a market share of about 68% in 2023 and will capture 71% revenue share by 2032. Centrifugal pumps are versatile and can be used in various industries such as water and wastewater treatment, oil and gas, chemical processing, power generation, and agriculture. Their ability to handle different types of fluids and varying flow rates makes them suitable for a broad range of applications.

Moreover, centrifugal pumps are known for their high efficiency compared to other types of pumps, such as positive displacement pumps. They can handle large flow rates with relatively low power consumption, which makes them cost-effective to operate over time. Centrifugal pumps are generally reliable and durable, capable of operating continuously under various conditions. With proper maintenance, they can have long operational lifespans, which adds to their appeal for industrial applications where reliability is crucial.

Looking for region specific data?

 Download Free Sample

In the vast Asia Pacific region, the market for pumps has exploded to over $32 billion in just 2023. This surge is driven by the incredible industrial growth witnessed in countries like China and India. As factories, construction sites, mines, and energy plants continue to expand, the demand for pumps has skyrocketed. From the production lines to the mining shafts, pumps are essential for moving fluids and keeping operations running smoothly. But that's not all. The ever-growing population and rapid urbanization in Asia Pacific have also fueled the need for pumps. As cities expand, they require robust water supply systems, efficient wastewater treatment plants, and towering buildings – all of which rely on pumps. And let's not forget the energy sector, which is booming in Asia Pacific. With major investments in both traditional and renewable energy sources, pumps play a crucial role in oil refining, electricity generation, and water management in power plants.

Pumps Market Share

These prominent companies are proactively involved in strategic endeavors including mergers & acquisitions, facility expansion, and partnerships to diversify their product offerings, expand their customer reach, and solidify their market position. Together, the top five mentioned companies collectively occupied around 5% to 10% of the global market share in 2023. They consistently allocate resources to research & development, enhancing their products and integrating innovative technologies to maintain a competitive edge.

Pumps Market Companies 

Major players operating in the pumps industry include

  • Comp8
  • EBARA CORPORATION
  • Flowserve Corporation.
  • Grundfos Holding A/S
  • Ingersoll Rand
  • ITT INC.
  • IWAKI CO., LTD.
  • KSB SE & Co. KGaA
  • Pentair
  • SLB
  • SPX FLOW, Inc.
  • Sulzer Ltd
  • The Weir Group PLC
  • Vaughan Company
  • Xylem

Pumps Market News

  • In July 2023, Grundfos Holding A/S acquired Metaspehe a leading smart sewer solutions provider. This acquisition is expected to help the company improve its product offerings within the pumps and hydraulic segment.
     
  • In March 2023, Gorman Rupp Europe announced the launch of its rental pump platform. The platform, which the business introduced in February in the Netherlands, intends to provide faster, easier, and more reliable” pump renting. Th platform has a 10- step pump picker tool that can suggest the best pump for a certain project.
     
  • In February 2023, Motion & Control Enterprises completed the acquisition of precision pump & valve, an established distributor specializing in safety relief and control valves, pumps, and associated equipment. Precision pump & valve is renowned for providing tailored solutions to the oil and gas, petrochemical, and chemical processing markets.
     
  • In December 2022, the new inline pump model 3E/3ES was introduced by EBARA Pumps Europe S.p.A. in Gambellara, Italy, for markets worldwide excluding Japan. To further seek efficiency and innovation, the EBARA Group wll concentrate on product development.

This pumps market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Million Units) from 2021 to 2032, for the following segments

Click here to Buy Section of this Report

 

 

Market, By Type 

 

  • Portable
  • Stationary

Market, By Position

  • Submersible
  • Non-submersible

Market, By Driving Force

  • Engine-Driven
  • Electric-Driven

Market, By Technology

  • Centrifugal Pump
    • Axial Flow Pump
    • Radial Flow Pump
    • Mixed Flow Pump
  • Position Displacement Pump
    • Reciprocating
    • Rotary
    • Others
  • Others

Market, By End User

  • Mining
  • Building & construction
  • Oil & Gas
  • General Industries
  • Water & wastewater treatment
  • Chemicals
  • Power generation
  • Others (agriculture etc.)

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia    
    • Indonesia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA

 

Related Reports

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

List Tables Figures

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

FAQ'S

For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:

sales@marketinsightsresearch.com

Within 24 to 48 hrs.

You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email

You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.

Discounts are available.

Hard Copy

Email