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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Industrial Pumps Market Trends
The global market for industrial pumps is primarily propelled by the rising application of automation in industries. Utilising machines to move different materials within a factory is crucial for profitability, as well as efficiency both in terms of time and losses due to transit damage. In addition, the growth of the refinery industry and emerging factories all over the world guarantees healthy growth for the industry.
The rising assessment activities in the oil and gas sector are anticipated to augment the demand for industrial pumps over the forecast period. Furthermore, key market players are providing a boost to the growth of industrial pumps industry by investing in the R&D sector to assess the possibility of incorporation of advanced technology to further enhance the efficiency both in terms of energy consumption and maintenance of the products. However, on the flip side, stringent policies and awareness regarding carbon emissions can potentially impede the market.
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