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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Asia Pacific Pumps Market Outlook
The Asia Pacific pumps market size was valued at USD 33.78 billion in 2023. The market is further projected to grow at a CAGR of 3.7% between 2024 and 2032, reaching a value of USD 47.17 billion by 2032.
Key Takeaways
- China has over 1,500 major mining operations, with the mining sector producing around USD 400 billion annually.
- Around 21 million agricultural pump sets are connected to the Indian power grid.
According to the Asia Pacific pumps market analysis, there is a growing demand for intelligent pumping solutions in the region. Manufacturers are developing energy-efficient pumps utilising smart technology that allows ease of use and monitoring capabilities. Agriculture is crucial to the Indian economy. During FY 2022-2023, the sector contributed around 15% to the country’s GDP. With a rising number of agricultural pumps connected to the power grid, irrigation accounts for a substantial electricity cost. To reduce the energy consumption of the sector, the Ministry of Power through its National Energy Efficient Agriculture Pumps Programme is encouraging consumers to replace age-old agricultural pumps with modern 5-star rated energy-efficient agricultural pumps.
As per the Asia Pacific pumps market report, pumps are crucial for the mining sector. China is also a significant mining producer across the globe. The country mines a range of products, such as aluminum, coal, manganese, tungsten, gold, zinc, nitrogen, potash phosphate, magnesium, tin, and other critical minerals. The country spends around USD 200 billion per year on mine supply and services. Further, around 75% of all major Chinese mining operations are performed underground. The expanding mining sector aids the demand for a variety of pumps, such as dewatering pumps, slurry pumps, and tailings management pumps.
Market Segmentation
Asia Pacific Pumps Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.
Market Breakup by Type:
- Centrifugal Pumps
- Positive Displacement Pumps
Market Breakup by End Use:
- Oil and Gas
- Water and Wastewater
- Chemicals and Petrochemicals
- Mining Industry
- Power Generation
- Others
Market Breakup by Country:
- China
- Japan
- India
- ASEAN
- Australia
- Others
Competitive Landscape
The key players in the pumps market in Asia Pacific are producing high-quality energy energy-efficient pumps to help end-use markets reduce their energy consumption.
- Kirloskar Brothers Limited
- Iwaki Co., Ltd
- Ebara Corporation
- Atlas Copco AB
- Flowserve Corporation
- Grundfos Holding A/S
- KSB Limited
- Sulzer AG
- The Weir Group PLC
- Schlumberger Limited
- Baker Hughes Company
- CG Power & Industrial Solutions Ltd
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by End Use |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the pumps market reached an approximate value of USD 33.78 billion.
The market is expected to grow at a CAGR of 3.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 47.17 billion by 2032.
Pumps are used to move fluids or gases from one location to another. This includes moving water for irrigation, pumping oil or gas for industrial processes, and moving air in vacuum cleaners.
Pumps increase the efficiency of a system by lowering the amount of energy needed to move fluids. Pumps can be used to transport dangerous and toxic fluids, reducing health risks to workers.
The major drivers of the market include a growing demand for water for irrigation, rising mining activities, and the presence of a large number of manufacturers.
Key trends aiding market expansion include an expanding agricultural sector, rising demand for clean water, and growing demand for energy-efficient pumps.
Major countries in the market are China, Japan, India, ASEAN, Australia, and others.
The common types of pumps are centrifugal pumps, positive displacement pumps, and others.
Key players in the market are Kirloskar Brothers Limited, Iwaki Co., Ltd, Ebara Corporation, Atlas Copco AB, Flowserve Corporation, Grundfos Holding A/S, KSB Limited, Sulzer AG, The Weir Group PLC, Schlumberger Limited, Baker Hughes Company, CG Power & Industrial Solutions Ltd, and others.
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