Water pump market
To move water from one location to another, a water pump is a device that raises the water's pressure. Agricultural, municipal, industrial, and residential applications all require access to modern water pumps. In sewage treatment plants, wastewater is transferred using water pumps as well. However, other energy sources, such as petrol or diesel engines, are also used to power water pumps. Electricity is the energy source that powers them most frequently.
Rising Demand for Pipeline Replacement/Installation
The demand for pumps in the oil and gas sector is expected to increase as oil and gas companies are increasing their spending on exploration and production activities around the world. The market is anticipated to benefit from the increasing number of infrastructure improvements, such as pipeline replacement or installation.
As the oil and gas industries grow, there is a greater requirement for pumps, which is anticipated to hasten market growth for water pumps. The simplicity with which standard valves can be altered using automated actuators or control systems is another factor driving up demand for water pumps. Additionally, there has been a considerable increase in demand for water pumps in the food and beverage industry, particularly in developing nations. The body, seat, and stem are the three main parts of a pump body; they may or may not be constructed of the same material.
Rising Trends of Technological Advancements
The improvements in pump technology have improved fundamental process operations, increased pump dependability, and provided a long-term decrease in routine operating procedures. The majority of businesses using these cutting-edge pumps are those that deal with industrial wastewater, agriculture, power, and chemicals. To meet the changing demands of the market, manufacturers are also concentrating on the introduction of new products. Manufacturers may need to rebuild pumps to meet increased energy efficiency criteria, which could be expensive and time-consuming and limit market expansion.
Rising investments in the oil and gas industry are expected to support the water pump market in the years to come. The market is anticipated to benefit from technological advancements in pump manufacturing and new product introductions that focus on improved performance. Pump reliability has been enhanced, fundamental process operations have been improved, and routine operating procedures have been permanently reduced due to advances in pump technology.
Additionally, while using less energy, these advancements have increased the dependability and performance of pumps. The demand for these cutting-edge pumps will increase over the projected period due to their use in a variety of end-use industries, including agricultural, power, industrial wastewater, and chemicals.
In recent years, the end-use industry has increased its expenditure to upgrade the quality of industrial pumps and install cutting-edge process control. This is due to the rising consumer demands. As a result, pump makers in the area have increased their spending to enhance energy efficiency, which is projected to fuel the demand for more energy-efficient pumps over the forecast period.
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Growth in Agriculture and Rising Demand for Processed Food
Additionally, industrial pumps are typically made to order and come with pre-designed valves that have been tailored to the needs of the business. Furthermore, the use of pumps is increasing in food and beverage, power generating, water and wastewater treatment, chemicals, and other significant processing industries. Additionally, due to an increase in agriculture and a rise in the demand for processed foods, countries like India, Brazil, and others have seen significant expansion in the food and beverage processing business. This has led to a significant increase in the need for water pumps in the processing sectors, which is boosting the market for water pumps. Also, it is projected that changes in the price of raw materials will impede the expansion of the water pump market. On the other hand, it is projected that technological advancements in water pumps would create profitable prospects for the market’s growth over the coming years.
High Initial Cost of Smart Pump Acts as Restraint
The high initial cost of the smart pump is expected to impose restrictions on the market's growth in the near future. Frameworks for intelligent pumps have been developed to employ wireless technology for better control over longer distances. But doing so might come with a very high initial cost, which many end users would require assistance to afford. Nevertheless, when they become aware of how intelligent pumps may aid in energy saving considering the current energy crisis, they may receive government support over the coming years. Smart pumps are also preferable solutions for pumping in the mining and metal industries since they require lab testing activities and have more appealing features. The market's downturn has, thus, limited further growth.
Recent Developments
- In February 2023, a Canadian
manufacturer of highly developed industrial valves, Velan Inc., was acquired by
Flowserve Corporation. Through this acquisition, Flowserve Corporation would be
able to advance its decarbonization, digitization (3D) strategy, and
diversification goals by incorporating Velan's strong position in the
cryogenic, nuclear, defense, and industrial markets and a highly complementary
product range.
- In January 2023, Xylem Inc.
procured Evoqua, a pioneer in mission-critical water treatment technologies and
services. With this acquisition, Xylem would be able to tackle affordability,
water scarcity, and resilience on a much larger scale. Additionally, the
combined offerings of the two organizations would offer an exceptional
portfolio of integrated services, cutting-edge technology, and application
expertise throughout the water cycle.
- In November 2022, Shandong
Jinggong Pump Co., Ltd., a Chinese manufacturer of industrial vacuum pumps and systems,
was acquired by Atlas Copco AB. By joining a seasoned machine and manufacturing
company in China through this acquisition, Atlas Copco AB would be able to
match this action with its local-for-local approach.
- In August 2022, AccessESP,
a renowned supplier of cutting-edge technologies for artificial lift solutions,
was acquired by Baker Hughes Company. By focusing on technologies with
long-term viability that facilitate development possibilities and broaden its
portfolio, Baker Hughes Company would be helped in changing its core business
through this acquisition.
- Mechanical Equipment
Company, Inc. (MECO), a pioneer in the design and production of water
purification technologies, was acquired by Grundfos Holding A/S in August 2022.
To advance as the top global provider of water treatment solutions, Grundfos
Holding A/S would be able to strengthen the positions of MECO and Grundfos
through this acquisition. Additionally, this would improve people's quality of
life.
- Glaston Compressor
Services Ltd, a distributor and service provider of compressed air situated in
Skelmersdale, Lancashire, was acquired by Atlas Copco AB in July 2022. Atlas
Copco AB would be able to expand its presence in the Northwest of England with
this acquisition.
- Altus Intervention, a top
international supplier of well intervention services and down-hole oil &
gas technology, was acquired by Baker Hughes Company in March 2022. By
enhancing technology capabilities and offering customers higher-efficiency
solutions, Altus Intervention would support Baker Hughes Company's strategies
to change gas and core oil activities.
- Anadolu Flygt, the market
leader in Turkey for the provision, installation, and after-sale support of
pump and water treatment systems, was acquired by Xylem, Inc. in October 2021.
By making this acquisition, Xylem, Inc. would be able to expand its portfolio
of smart water solutions into Turkey, demonstrating its potential to take the
lead in innovative technological solutions for the water sector.
Market Segmentation
The global water pump market is segmented into type, positive displacement, driving force, application, and region. Based on type, the market is segmented into centrifugal pumps and positive displacement pumps. Based on driving force, the market is split into electric driven, engine driven. Based on application, the market is segmented into oil and gas, chemicals, power generation, water/wastewater, and others.
Market Players
Major market players in the
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 –
2021
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Estimated Year
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2023
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Forecast Period
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2024
– 2028
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Quantitative Units
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Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report Coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments Covered
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Type
Driving Force
Application
Region
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Regional Scope
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North
America, Asia-Pacific, Europe, South America, Middle East & Africa
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Country Scope
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United States, Canada, Mexico, China, India, Japan, South
Korea, Indonesia, Germany, United Kingdom, France, Russia, Spain, Brazil,
Argentina, Saudi Arabia, South Africa, UAE, Israel
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Key Companies Profiled
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Grundfos
Holding A/S, Xylem Inc., Sulzer Ltd., KSB SE & Co. KGaA, Ebara
Corporation, The Weir Group plc, Flowserve Corporation, Wilo SE, ITT Inc.,
Kirloskar Brothers Limited.
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Customization Scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and Purchase Options
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Avail
customized purchase options to meet your exact research needs. Explore
purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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