Industrial Pumps Global Market Report 2024

Industrial pumps are equipment designed to move fluids by converting mechanical energy from sources such as thermal, electric, or other motors into hydraulic energy. They are used in heavy-duty or demanding applications.

Industrial pumps consist of centrifugal pumps, positive displacement pumps, and others. Centrifugal pumps are used to transport fluids by converting rotational kinetic energy into hydrodynamic energy. They are employed for pumping water, organics, solvents, and oils, and can be fixed in submersible and non-submersible positions. They are driven by engines and electricity and find applications in industries such as oil and gas, chemicals, construction, power generation, water and wastewater, among others.

The industrial pumps market size has grown strongly in recent years. It will grow from $64.82 billion in 2023 to $68.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to emergence of hygiene and food safety standards, expansion of agriculture and irrigation, urbanization and construction boom, chemical and petrochemical sector growth.

The industrial pumps market size is expected to see strong growth in the next few years. It will grow to $87.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to adoption of iot for pump performance optimization, market expansion in developing regions, expansion of pump applications in oil & gas, growing role of pumps in renewable energy, rise in demand for industrial processing pumps. Major trends in the forecast period include industry 4.0 integration, energy efficiency initiatives, strategic partnership, smart pump technologies, customization and modular designs.

The industrial pumps market size has grown strongly in recent years. It will grow from $64.82 billion in 2023 to $68.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to emergence of hygiene and food safety standards, expansion of agriculture and irrigation, urbanization and construction boom, chemical and petrochemical sector growth.

The industrial pumps market size is expected to see strong growth in the next few years. It will grow to $87.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to adoption of iot for pump performance optimization, market expansion in developing regions, expansion of pump applications in oil & gas, growing role of pumps in renewable energy, rise in demand for industrial processing pumps. Major trends in the forecast period include industry 4.0 integration, energy efficiency initiatives, strategic partnership, smart pump technologies, customization and modular designs.

An increase in construction activities is also anticipated to drive the growth of the industrial pumps market. Construction activities involve various processes related to land development and infrastructure building. Industrial pumps play a crucial role in construction projects by managing water accumulation caused by factors such as high water tables or heavy rain. According to Marsh, a US-based professional services firm, residential construction was the fastest-growing sector globally in 2021, with a growth rate of 7.1%. Additionally, infrastructure construction grew at a rate of 6.8% in the same year. These trends indicate a significant expansion in construction activities, which is expected to propel the industrial pumps market forward.

The anticipated growth in the industrial plugs and sockets market stems from escalating energy usage. In industrial settings, where energy consumption denotes the amount of energy utilized within a specific timeframe, typically measured in kilowatt-hours (kWh) or similar units, specialized plugs and sockets are essential. These devices are engineered to manage higher voltage and current levels, ensuring the safe and efficient distribution of power for heavy machinery and equipment. For instance, as per the Department of Business, Energy and Industrial Strategy in the UK, there was a 4.6% increase in total energy consumption from 2020 to 2021, reaching 134 million tonnes of oil equivalent compared to 128 million. This surge was driven by a 4.2% rise in industrial energy consumption across diverse sectors, predominantly due to heightened gas usage. Consequently, the mounting energy consumption is propelling the expansion of the industrial plugs and sockets market.

The industrial pumps market is experiencing a significant trend towards product innovation as major companies concentrate on advancing technological solutions to enhance their market standing. For example, in March 2022, Vogelsang GmbH & Co. KG, a Germany-based producer, developer, and distributor of highly engineered equipment, introduced highly efficient rotary lobe pumps. These pumps boast a unique design tailored for extreme conditions, specifically engineered for applications within the oil and gas industry. Notably, these pumps stand out in the market due to their heavy-duty gearbox, enabling a consistent pressure output of 18 bar and the ability to withstand temperatures of up to 200&deC. This innovation highlights the industry's dedication to providing cutting-edge solutions capable of meeting demanding industrial requirements.

Major companies in the industrial pumps market are pioneering innovative products embedded with advanced technologies, such as the submersible recirculation pump, to offer customers dependable and efficient services. A submersible recirculation pump is a specialized pump designed to function entirely submerged in a liquid, facilitating continuous movement within a closed-loop or system. For instance, in January 2023, Sulzer, a Swiss-based industrial engineering and manufacturing firm, unveiled an updated iteration of the submersible recirculation pump, named the XRCP recirculation pump. This newly introduced XRCP pump series incorporates design enhancements resulting in a notable 20% surge in hydraulic efficiency. Notable improvements encompass enhanced motor efficiency, heightened reliability, and the integration of optional condition monitoring capabilities. Among its various applications, the pump is particularly suited for the recirculation of activated sludge in denitrification processes.

In August 2021, Atlas Copco, a Swedish-based manufacturer of industrial tools, pumps, and equipment, acquired CPC Pumps International Inc. for an undisclosed amount. This strategic acquisition aimed to expand and strengthen Atlas Copco's market position by incorporating the complementary assets of CPC Pumps International Inc. into its portfolio. CPC Pumps International Inc., headquartered in Canada, is a leading company known for manufacturing, designing, and testing industrial heavy-duty process pumps.

Major companies operating in the industrial pumps market report are Schlumberger Limited, Baker Hughes Company, Atlas Copco, Xylem Inc., Regal Beloit Corporation, Worthington Industries, Alfa Laval AB, EBARA International Corporation, Pentair PLC., Idex Corporation, Grundfos Holding A/S, The Weir Group PLC., Sulzer Ltd., ITT Inc., KSB SE &Co. KGaA, Wilo SE, SPX Flow Inc., Nikkiso Co. Ltd., Kirloskar Brothers Limited, Flowserve Corporation, Gorman-Rupp Company, Tsurumi Manufacturing Co. Ltd., Sundyne LLC, Iwaki Co. Ltd., HMS Group, PumpWorks Inc., LEWA GmbH, ClydeUnion Pumps, Vertiflo Pump Company, PPI Pumps Pvt. Ltd., Hayward Tyler Group Ltd., Parker Hannifin Corporation, SPP Pumps Limited, CRI Pumps Pvt. Ltd.

Asia-Pacific was the largest region in the industrial pumps market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the industrial pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The industrial pumps market consists of sales of booster pumps, piston pumps, screw pumps, axial flow pumps, and lobe pumps. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The industrial pumps market is segmented into booster pumps, piston pumps, screw pumps, axial flow pumps, and other pumps.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Industrial Pumps Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on industrial pumps market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for industrial pumps ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial pumps market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Centrifugal Pump; Positive Displacement Pump; Other Products
• 2) By Position: Submersible; Non-Submersible
• 3) By Driving Force: Engine Driven; Electrical Driven
• 4) By Application: Oil And Gas; Chemicals; Construction; Power Generation; Water And Wastewater; Other Applications
• Companies Mentioned: Schlumberger Limited; Baker Hughes Company; Atlas Copco; Xylem Inc.; Regal Beloit Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.