Industrial pumps are critical components in a myriad of industrial processes, facilitating the movement of fluids in various sectors such as industrial pumps, chemicals, construction, power generation and water and wastewater treatment. These pumps are designed to transport a range of fluids, including water, oil, chemicals and wastewater, by converting electrical energy or mechanical energy into fluid flow.
The industrial pumps market consists of sales, by entities (organizations, sole traders and partnerships), of industrial pumps that are used in applications that require fluid transfer, circulation, or processing, making them essential for the operations of many industries.
The global industrial pumps market was valued at $67,625.4 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 4.0%.
Increasing Focus On Renewable Energy
During the historic period, increasing focus on renewable energy supported the growth of the industrial pumps market. Renewable energy refers to energy derived from naturally replenishing resources that are continuously available and can be sustainably utilized without depleting their reserves. Industrial pumps play a vital role in supporting the efficient, reliable and sustainable generation of renewable energy from various sources, contributing to the transition towards a cleaner and more environmentally friendly energy landscape. According to reports published by the European Environment Agency, a Denmark-based government organization, the share of renewable energy in the EU reached 22.5% in 2022, representing a slight increase of 0.6% compared to 2021. Renewable consumption saw a modest growth of 1.4 million metric tons of oil equivalent (Mtoe) between 2021 and 2022. Therefore, increasing focus on renewable energy drove the growth of the industrial pumps market.
Advancements In Energy Efficiency And Smart Technology Integration In Pump Manufacturing
Companies in the industrial pumps market are focusing on the launch of innovative products, such as end-suction pumps, to strengthen their position in the market. End-suction pumps are a type of centrifugal pump commonly used in various industrial, commercial and municipal applications for fluid transfer and circulation. For instance, in August 2023, Grundfos, a Denmark-based company that manufactures pumps, launched a new NK and NKE (Nippon Kouatsu Electric) range to take end-suction pumps to the next level in terms of energy efficiency, connectivity and durability. The NK and NKE range of end-suction pumps are designed with industry-leading energy efficiency, meeting high standards such as IE3 and even up to the highest IE5 (International Energy Efficiency Class) efficiency in the premium NKE range. The premium NKE range incorporates smart technology features like an integrated permanent magnet MGE (Modular GIS Environment) motor with a variable frequency drive and built-in pressure sensor, enabling intuitive water pressure and flow adjustments for optimal performance 24/7. In addition to their advanced efficiency and intelligent upgrades, these pumps boast noise reduction features, an increased temperature range and improved hydraulics to support overall efficiency in water flow conditions.
The global industrial pumps market is fairly fragmented, with large number of players operating in the market. The top ten competitors in the market made up to 12.91% of the total market in 2022.
Industrial Pumps Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global industrial pumps market as it emerges from the COVID-19 shut down.
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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 history and forecasts market growth by geography. It places the market within the context of the wider industrial pumps market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by position, by driving force and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the industrial pumps market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product, by position, by driving force and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations-This section includes recommendations for industrial pumps providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product: Dynamic Pump; Positive Displacement Pump
- 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: Flowserve Corporation; KSB SE &Co. KGaA; Ebara Corporation; Wilo SE; Grundfos Holding A/S
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- 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; industrial pumps indicators comparison.
- 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.