Global Industrial Pumps Business Report 2024: Market size expected to reach $87.4 billion by 2030

Industrial Pump Market

Dublin, May 29, 2024 (GLOBE NEWSWIRE) — The “Industrial Pumps – Global Strategic Business Report” report has ResearchAndMarkets.com Recruitment.

Global Industrial Pump Market Projected to Reach $87.4 Billion by 2030

The global market for industrial pumps is estimated at USD 62.7 billion in 2023 and is projected to reach a revised size of USD 87.4 billion by 2030, growing at a CAGR of 4.2% over the analysis period 2023-2030. Centrifugal pumps, one of the segments analyzed in the report, is projected to register a CAGR of 4.2% and reach USD 58.0 billion by the end of the analysis period. The growth of the positive displacement pumps segment is projected to grow at a CAGR of 4.6% over the next eight years.

The industrial pumps market includes various types of pumps such as centrifugal, positive displacement, peristaltic and submersible pumps, each suited for different applications such as water & wastewater treatment, oil & gas, chemical processing, etc. The market is poised to grow rapidly, driven by increasing demand in these end-use sectors, despite several market restraints. Centrifugal pumps are expected to continue to be the leading product category.

The US market is estimated at $11.3 billion, while China is forecast to grow at a compound annual growth rate of 5.8%.

Global economic updates and analysis of the competitive landscape have highlighted the key competitors and their market share in 2023. The overall market outlook is positive, with regional analysis indicating robust growth prospects across various regions.

The industrial pumps market in the United States is estimated to reach USD 11.3 billion in 2023. China, the world's second largest economy, is projected to grow at a CAGR of 5.8% over the analysis period 2023-2030, reaching a market size of USD 22.7 billion by 2030. Other notable geographical markets include Japan and Canada, which are expected to grow at 2.5% and 3.4%, respectively, during the period 2023-2030. In Europe, Germany is projected to grow at a CAGR of around 3.1%. The market in Asia-Pacific, led by countries such as Australia, India, and South Korea, is projected to reach a revised size of USD 16.3 billion by 2030.

Key attributes:

Market Overview

• The Beginning of Industrial Pumps

• Different Types of Industrial Pumps

• Industrial Pump Applications

• Industrial Pump End Uses

• Latest News from the World Economy

• Competitive Environment

• Industrial Pumps – Market Share of Global Major Competitors in 2023 (E)

• Global market outlook and prospects

• Global industrial pump market set for rapid growth

• Drivers of growth

• Market Deterrence

• Demand surges, centrifugal pumps remain the leading product category

• Regional Analysis

• Market Outlook

• Recent Market Trends

The story continues

Market Trends and Drivers

• As water crisis looms, expansion of industries focused on water reuse will drive demand for industrial pumps

• Water Reuse Applications

• Statistics highlight the global water crisis and the need for water reuse

• World Water Resources: Breakdown by Water Quality

• Increasing Water Pollution Levels Drive Need for Industrial Pumps

• Water and wastewater treatment: Focus on infrastructure development drives demand

• Increasing need for innovative technologies

• Construction industry recovery boosts demand for industrial pumps

• Construction plans bode well for 2023

• US Construction Outlook

• Industry-wide push towards digitization and automation signals long-term growth

• The rise of Industry 4.0 and smart factories will necessitate technology adjustments for the industrial pump market

• Digitalized pumps take the industrial pump market to new heights

• Increasing demand for smart pumps

• Select the leading smart pumps available on the market

• Expansion of oil and gas sector bodes well for market growth

• Rising oil prices drive global capital investment

• The growing importance of industrial pumps in the power industry

• China and India will drive growth in global electricity demand

• Increasing demand in the chemical industry signals market growth

• Urban sprawl opens up a wide range of opportunities

• The new urban infrastructure concept “Smart City” is driving a new wave of growth

• Speed ​​flow controller that changes the conventional wisdom of industrial pumps

• Innovative mini pumps lead the way

• Increasing demand for industrial pumps in the textile industry

• Innovation Choices Driving Market Expansion in the Industrial Pump Industry

• Switching from petrol to electric pumps – a key trend

• Highly accurate flow control pump enters the market

• On-Demand “Smart Pump” Application

• Waste Reduction and Sustainability

• Chemical Compatibility

• Compact pump footprint

Focus on the selected players (Total of 297 listings)

• Baker Hughes

• Danfoss AS

• Dover Corporation

• Ebara Corporation

• Flowserve Corporation

• General Electric Company

• Grundfos Holding AS

• ITT Corporation

• KSB SE & Co. KGaA

• Rupupen Group

• Schlumberger Ltd (doing business as SLB)

• SPP Pump Co., Ltd.

• SPX Flow Inc.

• Sulzer Corporation

• Weir Group

• Willo, Mather & Pratt Pumps, Inc.

• Xylem Inc.

For more information on this report, please visit: https://www.researchandmarkets.com/r/2f0z34

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