Latin America Pumps Market Report and Forecast 2024-2032

Latin America Pumps Market Outlook

The Latin America pumps market size was valued at USD 6.13 billion in 2023. The market is estimated to grow at a CAGR of 2.7% during 2024-2032 to reach a value of USD 7.84 billion by 2032.

Key Takeaways

• In 2021, Latin America accounted for 40% of global copper production led by Chile-27%, Peru-10%- and Mexico-3%.

• As per industry reports, at the end of 2023, Latin America has 176,172 MW of solar capacity in pre-construction.

According to the Latin America pumps market analysis, the region’s mining sector is flourishing. Latin America accounted for 40% of copper and 35% of lithium produced globally in 2021. The region also holds significant potential to produce graphite, manganese, nickel, and rare earth elements, with Brazil alone holding around 20% of global reserves for each of these resources. An expanding mining sector driven by the demand for these critical minerals aids the demand for pumps in the region. As mines are excavated, mining pumps are crucial in managing sub-surface water as well as to contain and dispose of liquid mine waste to prevent the contamination of local water bodies.

Further, technological advancements, governmental support, and the trend of energy transition, are driving the demand for solar power technology in Latin America, thus impacting the Latin America pumps market growth. Players in the market are investing in research to innovate their pumping technology and services and to provide reliable and efficient pumps for different power generation technologies, including conventional steam, biomass, nuclear, concentrated solar power, and geothermal. For instance, concentrated solar power plants generate electricity by collecting and concentrating sunlight with mirrors and lenses in a heat transfer fluid (HTF). By using a heat exchanger system, pumps transport the HTF and heat water to produce steam. The power block then generates electricity by using a steam turbine and a generator.

Market Segmentation

Latin America 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:

• Brazil

• Mexico

• Argentina

• Others 

Competitive Landscape

The key players in the pumps market in Latin America are investing in research to develop advanced pumping technology to meet the demanding application of end-use markets.

• ITT Inc.

• Ebara Corporation

• Flowserve Corporation

• Grundfos Holding A/S

• KSB Limited

• Sulzer AG

• The Weir Group PLC

• Ruhrpumpen, Inc.

• LEWA GmbH

• Baker Hughes Company

• Others

Key Highlights of the Report