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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Industrial Pumps Market Share
Centrifugal Pumps To Gain Prominence For Their Versatility In Handling Various Fluids
As per industrial pumps industry analysis, the centrifugal pump segment is likely to witness high growth on account of the flexibility it has in handling a variety of liquids efficiently. The advantages of handling large volumes and several fluid types make them important constituents for industries such as water and wastewater treatment, oil and gas, and chemical processing.
All of these uses result in high efficiency and cost-effectiveness, which would fuel their demand. Particularly for rotary types, there will be a growing need for positive displacement pumps used in applications requiring very fine fluid handling and higher pressures, such as in the chemical and pharmaceutical industries. Their ability for repeatable flow delivery and handing viscous fluids is of growing importance.
Water And Wastewater Application To Soar In Demand Owing To Better Water And Waste Management
By application, the water and wastewater segment is expected to gain significant growth and boost the industrial pumps demand, driven by growing global water scarcity and the related need for proper water management systems. Rising urbanization and industrialization are demanding adequate treatment of wastewater and the supply of water. Tightening regulations and rising concerns for the environment underline the need for investments in advanced pumping technologies for water and wastewater management. The oil and gas industry will remain a high-growth application area in this case, where there are continuous exploration and production activities that call for rugged, reliable pumps to handle fluids under very trying conditions. Both sectors form the mainstay of future growth in industrial pumps.
Industrial Pumps Market Report Snapshots
Industrial Pumps Market Growth
Industrial Pumps Market Trends
Industrial Pumps Market Regional Analysis
*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
The market attained a value of approximately USD 67.56 billion in 2023.
The market is projected to grow at a CAGR of 3.9% in the forecast period of 2024-2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 95.47 billion by 2032.
The market is being driven by increasing infrastructural projects and their expansion plans, rapid urbanisation, and emerging refineries.
The key trends of the market include the implementation of advanced technology like automation for smooth operations in the refinery sector and the growing demand for centrifugal pumps in the food and beverage industry.
The major regional markets for Industrial pumps are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
The different products in the market are centrifugal pumps, and positive displacement pumps, among others.
The major applications of industrial pumps are oil and gas, chemicals, construction, power, and water and wastewater, among others.
The key players in the global industrial pumps market are Grundfos Pumps Corporation, Xylem Inc., Trane Technologies plc, KSB SE & Co. KGaA, and Iwaki America, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124