Global Pumps Market Report and Forecast 2024-2032

Global Pumps Market Outlook

The global pumps market size was valued at USD 73.90 billion in 2023. The market is further projected to grow at a CAGR of 3.0% between 2024 and 2032, reaching a value of USD 97.08 billion by 2032.

Key Takeaways

• The fleet of electric vehicles is expected to grow from 30 million in 2022 to 240 million in 2030, aiding the demand for mining for battery production.

• According to the United Nations, in 2020, 56% of household wastewater flows were treated safely, aiding the demand for pumps.

There is a growing demand for critical minerals to meet the clean energy needs of governments and consumers globally, which is propelling the pumps market growth. Critical minerals are in demand to produce batteries for electric vehicles. A battery for electric vehicles requires around 200kg of critical minerals. The electric vehicle battery sector is also responsible for around 70% of the demand for cobalt, globally. Other minerals essential for clean technology production include aluminum, nickel, copper, lithium, and rare earth. The rise in mineral mining thus aids the demand for pumps such as dewatering pumps. These mining pumps provide dry working conditions for mining processes by preventing flooding.

Pumps are also crucial components in the water and wastewater management sector. Wastewater is steadily increasing globally driven by a rising population, improved water supply, and enhanced living standards. Around 380 billion m3 of municipal wastewater is generated globally every year. Further, wastewater production is anticipated to rise by 24% by 2030 and 51% by 2050, providing a rising demand for water treatment plants. Pumps are crucial for municipal water treatment plants to transport water from the pretreatment stages to distribution. The facilities invest in a variety of plants depending on their requirements, such as discharge pressure, flow capacity, and available space. The pumps commonly used by wastewater treatment plants include centrifugal pumps, submersible pumps, and positive displacement pumps.

According to the pumps market analysis, high-quality pumps are widely adopted to meet the demanding requirements of the end-use markets. Robust pumps ensure efficient operation and longevity and strengthen the reputation of manufacturers in the market.

Market Segmentation

Global 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 Region:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Competitive Landscape

The key players in the pumps market are producing high-quality pumps to help the end-use sectors efficiently transport materials such as oil and gas, minerals, water, and chemicals.

• Flowserve Corporation

• Grundfos Holding A/S

• KSB Limited

• ITT Inc.

• Sulzer AG

• Ebara Corporation

• The Weir Group PLC

• Schlumberger Limited

• Baker Hughes Company

• Dover Corporation

• Others

Key Highlights of the Report