What Has Been the Progress and Growth of the Industrial Pumps Market in Recent Years?
The industrial pumps market has seen considerable growth due to a variety of factors.
• In the past few years, the market size of industrial pumps has seen a steady increase. It is projected to rise from $85.48 billion in 2024, reaching $88.93 billion in 2025, showing a compound annual growth rate (CAGR) of 4.0%.
The climb in this historic time frame is tied to the advent of cleanliness and food safety regulations, the growth of farming and irrigation, the rise of urbanization and a construction surge, as well as the expansion of the chemical and petrochemical sectors.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa Industrial Pumps Market?
The industrial pumps market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for industrial pumps is predicted to experience robust growth in the upcoming years, reaching an estimated worth of $108.86 billion by 2029, with a compound annual growth rate (CAGR) of 5.2%.
This projected growth during the forecast period can be ascribed to several factors, such as the implementation of IoT for enhancing pump performance, market growth in emerging regions, the increasing use of pumps in oil and gas applications, the expanding role of pumps in renewable energy, and the surge in demand for industrial processing pumps. Noteworthy trends for this period include the integration of industry 4.0, initiatives for energy efficiency, strategic alliances, the development of intelligent pump technologies, and the trend towards customization and modular designs.
What Are The Core Factors Supporting Growth In Industrial Pumps Market?
The growth of the industrial pumps market is anticipated to be fueled by a surge in construction activities. These activities involve the erection and assembly tasks related to land-clearing activities intended for establishing infrastructure and buildings. Industrial pumps play a vital role in construction as they help in clearing excessive water from sites, which could have gathered due to high water tables or rainfall. Hence, an escalation in construction activities inevitably leads to a boost in the market. For instance, Construction Digital, a company based in the UK linking all construction brands, reported in June 2023 that the UK construction industry is likely to expand by 12% in 2024, with an additional growth of 3% anticipated in 2025. Consequently, the upswing in construction activities is contributing significantly to the expansion of the industrial pumps market.
What Are The Key Segments Within The Global Industrial Pumps Market?
The industrial pumps market covered in this report is segmented –
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
Subsegments:
1) By Centrifugal Pump: End Suction Pumps, Vertical Turbine Pumps, Submersible Pumps, Axial Flow Pumps
2) By Positive Displacement Pump: Gear Pumps, Diaphragm Pumps, Piston Pumps, Peristaltic Pumps
3) By Other Products: Screw Pumps, Progressive Cavity Pumps, Hydraulic Pumps
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How Are New Trends Impacting The Size Of The Industrial Pumps Market?
Product development is a rising trend that is gaining traction in the industrial pumps sector. Firms operating in this particular market are centered on innovating new technological solutions to solidify their market standing. For example, Vogelsang GmbH & Co. KG, a German firm specializing in highly engineered equipment production, development, and distribution, introduced highly efficient rotary lobe pumps in March 2022. These pumps are distinctively designed to withstand extreme conditions and maintain consistent high-pressure performance, making them suitable for use in the oil and gas industry. These unique pumps feature a heavy-duty gearbox allowing for a steady pressure output of 18 bar and can tolerate temperatures up to 200°C.
Who Are the Key Players in the Industrial Pumps Market?
Major companies operating in the industrial pumps market include:
• 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.
What are the Regional Insights into the Industrial Pumps Market?
Asia-Pacific was the largest region in the industrial pumps market in 2024, 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.
