Pumps Market (By Product Type: Centrifugal Pump and Positive Displacement Pump; By Application: Agriculture, Construction and Building Services, Water and Wastewater, Power Generation, Oil and Gas, Chemical, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030

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:

  • 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.

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

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

By Application

  • Agriculture
  • Construction and Building Services
  • Water and Wastewater
  • Power Generation
  • Oil and Gas
  • Chemical
  • Others

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Points Covered in Pumps Market Study:

  • Growth of Pumps in 2022
  • Market Estimates and Forecasts (2017-2030)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Pumps and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Pumps Consumption Analysis
  •  Pumps Production Analysis
  •  Pumps and Management

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

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