The global pumps market was valued at US$ 69.81 billion in 2021 and is expected to reach over US$ 94.4 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 3.4% from 2021 to 2030.
Growth Factors:
Pumps are devices that use mechanical action to transfer fluids and liquid. Pumps are categorized according to their functioning mechanisms, although they all operate on the same concept of using energy and moving fluid by mechanical action. Pumps can be manually operated or powered by an external source of energy. The engines, electric motors, and wind power are all common resources of energy. Pumps come in variety of sizes, ranging from small residential pumps to big industrial pumps. The number of centrifugal pumps in commercially accessible pumps is the primary criterion for classification. There are two types of pumps such as single stage pumps and multi stage pumps.
Pumps are becoming increasingly important as investments in infrastructure and other critical operations such as wastewater treatment and electricity production develops. In addition, the number of end user applications has increased in recent years, and the global pumps market value is predicted to develop in accordance with the oil and gas industry’s progressive expansion. Pumps use energy to move fluid or perform kinetic energy, which can come from wind power, electricity, and a variety of other sources, notably in industries.
Wastewater reuse is a critical component in overcoming water scarcity and meeting rising water demands. The pumps are commonly employed to process used water in wastewater treatment plants. To boost impeller velocity and force fluids through outlet valves, these pumps use spinning impellers. As a result, the demand for centrifugal pumps is predicted to rise as the number of wastewater treatment plants around the world grows.
Pumps that are suitable for use in the food and beverage industry are required on a large scale. As a result, corporations have produced improved pumps that will comply with the food standards and regulations. Centrifugal pumps, on the other hand, are used in the chemical industry to move and store fluids that are prone to reactions. The chemical manufacturers involve a number of complicated and detailed industrial processes.
The pumps market is also moving towards adopting internet of things, which will allow pump operators to monitor flow, velocity, and other parameters so far concerned. For insights into prospective fault circumstances, extensive operational data visualization, reporting runtime, smart assistant solutions are being developed and installed in the pumps. All pump parameters, including volume and flow, will be controlled in real time by the technology. The operating conditions and error messages will be alerted via push notifications.
The increased development activity in the commercial and residential sectors would aid the pumps market expansion. The technical advancements, such as fabrication of 3D printed impellers and the usage of modelling software are another factor that promotes the expansion of the pumps market.
Another aspect that will help the pumps market thrive is the growing need for pump repair and remanufacture and high-performance applications like chemical processing and offshore oil and gas production. Over the forecast period, the global pumps market is expected to rise due to increased investment in research and development efforts and activities, as well as rapid technological advancement.
The pumps market’s expansion is also being fueled by a growing focus on sustainable development and rising environmental concerns. The growth of the global pumps market will be aided by the introduction of severe government rules around the world that encourage wastewater treatment.
Scope of the Pumps Market
Report Coverage |
Details |
Market Size |
US$ 94.4 Billion by 2030 |
Growth Rate |
CAGR of 3.4% from 2021 to 2030 |
Largest Market |
Asia Pacific |
Fastest Growing Market |
North America |
Base Year |
2021 |
Forecast Period |
2021 to 2030 |
Segments Covered |
Product, Application, Region |
Companies Mentioned |
Flowserve Corp., EBARA International Corp., Vaughan Company Inc., Sulzer Ltd., Grundfos Holding A/S, KSB SE & Co. KGaA, Schlumberger Ltd., IWAKI Co. Ltd, Xylem, Sulzer Ltd. |
Product Type Insights
Based on the product type, the centrifugal pumps segment accounted the market revenue share 52% in 2020. Centrifugal pumps are utilized in the chemical industry because they can handle greater volumes. These are ideal for pumping liquids with high densities at low pressures and high capacities.
The positive displacement pumps segment is expected to hit CAGR of 3.5% during the forecast period. This is attributed to their efficient low-speed operation and steady flow rates. Furthermore, the oil and gas industry’s preference for positive displacement pumps is projected to support segment expansion.
Application Insights
Based on the application, the agriculture segment accounted the revenue share of over 25% in 2020. The technological developments in irrigation and farming, particularly in emerging countries, combined with an increase in the use of pumps for a variety of functions in agriculture, such as crop dewatering, irrigation, and reuse are expected to drive the growth of pumps market.
The water and wastewater segment is estimated to hit CAGR of 4% during the forecast period. Pump stations are increasingly being used in wastewater treatment plans where gravity flow is not possible, and their high flow rate deliverability and transmission velocity are expected to boost the global pumps market growth.
Region Insights
Based on the region, the Asia-Pacific segment dominated the global pumps market in 2020 with a revenue share of 47%. The rapid industrialization in Asia-Pacific’s developing countries, as well as increased investments in commercial and industrial projects, have all contributed to the region’s overall growth globally. The increased product penetration in several end use industries, such as petrochemical and agriculture, is also expected to contribute to the pumps market expansion.
The North America is estimated to be the most opportunistic segment during the forecast period. The North America pumps market has benefitted from advanced processing capacities, a highly skilled workforce, and expanding research and development initiatives in the U.S.
Some of the prominent players in the Pumps Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Product Type
By Application
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Pumps Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Pumps Market
5.1. COVID-19 Landscape: Pumps Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Pumps Market, By Product
8.1. Pumps Market, by Product Type, 2021-2030
8.1.1. Centrifugal Pump
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Positive Displacement Pump
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Others
8.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Pumps Market, By Application
9.1. Pumps Market, by Application, 2021-2030
9.1.1. Agriculture
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Construction and Building Services
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Water and Wastewater
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Power Generation
9.1.4.1. Market Revenue and Forecast (2019-2030)
9.1.5. Oil and Gas
9.1.5.1. Market Revenue and Forecast (2019-2030)
9.1.6. Chemical
9.1.6.1. Market Revenue and Forecast (2019-2030)
9.1.7. Others
9.1.7.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Pumps Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2019-2030)
Chapter 11. Company Profiles
11.1. Flowserve Corp.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. EBARA International Corp.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Vaughan Company Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Sulzer Ltd.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Grundfos Holding A/S
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. KSB SE & Co. KGaA
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Schlumberger Ltd.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. IWAKI Co. Ltd
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Xylem
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Sulzer Ltd.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms