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The global industrial pumps market reached a value of US$ 60.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 83.4 Billion by 2027, exhibiting at a CAGR of 6.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Industrial pumps are mechanical equipment used to move fluid, such as oil, sludge, slurry, chemicals, petroleum, and wastewater, from one location to another. They are currently available in different shapes, sizes, and configurations based on liquid applications and materials used during their manufacturing. For instance, centrifugal pumps are used in chemical plants for moving low viscosity liquids. Moreover, positive displacement (PD) pumps are preferred in automotive transmission systems to move high viscosity fluids. They can also be utilized in process operations that require high hydraulic pressure.
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Rising exploration activities in the oil and gas sector due to the escalating energy demand represent one of the main factors driving the market growth. Additionally, the growing emphasis on upgrading existing wastewater treatment plants is contributing to the market growth. This can also be attributed to the limited availability of potable water, growing environmental concerns, and the rising awareness about the harmful impacts of drinking contaminated water. Apart from this, industrial pumps are utilized in different sizes and shapes in the power industry for circulation, boiler feed, and sludge handling. Moreover, rapid urbanization and increasing infrastructure development are other factors influencing the market positively. Furthermore, the leading players are adopting innovative strategies and focusing on mergers and acquisitions (M&A) with small and medium-sized enterprises (SMEs) to expand their product portfolio and gain an edge over their competitors. This is anticipated to bolster the market growth in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial pumps market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, distribution channel and application.
Breakup by Product:
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Breakup by Distribution Channel:
Breakup by Application:
Breakup by Region:
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Dover Corporation, Ebara Corporation, Flowserve Corporation, Grundfos Holding A/S, ITT Inc., Iwaki Co. Ltd., KSB SE & Co. KGaA, Schlumberger Limited, SPX Flow Inc., Sulzer Ltd., The Weir Group PLC, Vaughan Co. Inc. and Xylem Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Product, Distribution Channel, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Dover Corporation, Ebara Corporation, Flowserve Corporation, Grundfos Holding A/S, ITT Inc., Iwaki Co. Ltd., KSB SE & Co. KGaA, Schlumberger Limited, SPX Flow Inc., Sulzer Ltd., The Weir Group PLC, Vaughan Co. Inc. and Xylem Inc.|
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The global industrial pumps market was valued at US$ 60.3 Billion in 2021.
We expect the global industrial pumps market to exhibit a CAGR of 6.1% during 2022-2027.
The widespread adoption of industrial pumps in wastewater management and the increasing
utilization of submersible pumps for pumping excess water in the construction sites are primarily
driving the global industrial pumps market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations, resulting in the temporary closure of numerous
manufacturing units for industrial pumps.
Based on the product, the global industrial pumps market can be categorized into centrifugal pump,
positive displacement pumps, and others. Currently, centrifugal pump holds the majority of the total
Based on the distribution channel, the global industrial pumps market has been segmented into
offline and online, where offline channel represents the largest market share.
Based on the application, the global industrial pumps market can be bifurcated into oil and gas,
chemicals, construction, power generation, water and wastewater, and others. Among these, the
water and wastewater sector accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle
East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.
Some of the major players in the global industrial pumps market include Dover Corporation, Ebara
Corporation, Flowserve Corporation, Grundfos Holding A/S, ITT Inc., Iwaki Co. Ltd., KSB SE & Co.
KGaA, Schlumberger Limited, SPX Flow Inc., Sulzer Ltd., The Weir Group PLC, Vaughan Co. Inc., and
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