Industrial Pumps Market

Market Overview:

The global industrial pumps market size reached US$ 64.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 87.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028. The growing demand for specialty pumps in various industries, rising number of infrastructure development projects, and increasing demand for energy-efficient and the Internet of Things (IoT)-enabled solutions are some of the major factors propelling the market.

Industrial pumps are mechanical devices that are designed to move various types of fluids, such as liquids, gases, or slurries, within industrial processes. They facilitate the transportation of materials and enable efficient and continuous operations within various industrial sectors. They easily handle different flow rates, pressures, and viscosities, depending on the specific application requirements. They assist in enhancing productivity and optimizing operations in modern manufacturing and processing facilities. As a result, industrial pumps are widely employed in the oil and gas, chemical, mining, and manufacturing industries across the globe.

At present, the rising concerns about water scarcity and environmental regulations among individuals around the world are supporting the growth of the market. Besides this, the increasing adoption of energy efficient pumps, along with rising number of oil and gas exploration and production activities, is strengthening the growth of the market. In line with this, the growing demand for industrial pumps in water-related applications, such as water supply, irrigation, and wastewater treatment, is positively influencing the market. Apart from this, the increasing replacement and retrofitting initiatives is offering lucrative growth opportunities to industry investors. In addition, the rising adoption of energy efficient pumps due to the increasing focus on energy conservation and sustainability is bolstering the growth of the market.

Industrial Pumps Market Trends/Drivers:

Rising demand for specialty pumps

There is a rise in the demand for specialty pumps, as they are designed to handle specific and challenging fluid handling applications. In addition, the growing focus on precision and customization in various industries, such as pharmaceuticals, biotechnology, and food processing are offering a positive market outlook. These sectors require pumps capable of handling sensitive substances and adhering to stringent hygiene standards. Additionally, industries, such as mining, chemical processing, and oil and gas, require pumps that can handle corrosive and abrasive materials, high temperatures, and extreme pressure conditions. Specialty pumps are engineered to meet these unique requirements and ensure reliable and efficient operations in harsh environmental situations. They also minimize energy consumption and reduce environmental impact.

Increasing number of infrastructure development projects

There is an increase in the demand for industrial pumps due to rising infrastructural development projects around the world. The construction of water and wastewater treatment plants, roads, bridges, airports, and municipal facilities requires efficient pumping systems for water supply, sewage management, and drainage systems. In line with this, the rising need for reliable and safe water management solutions is contributing to the growth of the market. Apart from this, the expansion of infrastructure, such as pipelines for oil and gas, is positively influencing the market. Moreover, the rising demand for pumps due to the increasing popularity of modernizing the infrastructures is bolstering the growth of the market.

Rising integration of various advanced technologies

Several manufacturers are developing energy-efficient pumps, smart pumping systems, and the Internet of Things (IoT)-enabled solutions. Energy efficiency is becoming a main concern for industries seeking to reduce operational costs and minimize environmental impact. As a result, businesses are increasingly adopting energy-efficient pumps that offer higher performance while consuming less power. In addition, the rapid integration of sensors and monitoring capabilities in modern pumps enables predictive maintenance, reduces downtime, and enhances overall operational efficiency. Apart from this, the ability to remotely monitor and control pumps through connected systems is becoming a valuable feature for industries aiming to optimize their processes and minimize human intervention.

Industrial Pumps Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global industrial pumps market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product, distribution channel and application.

Breakup by Product:

• Centrifugal Pump
  • Axial Flow Pump
  • Radial Flow Pump
  • Mixed Flow Pump
• Positive Displacement Pump
  • Reciprocating
  • Rotary
  • Others
• Others
   

Centrifugal pump represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the product. This includes centrifugal pump (axial flow pump, radial flow pump, and mixed flow pump), positive displacement pump (reciprocating, rotary, and others), and others. According to the report, centrifugal pump represented the largest segment.

Centrifugal pumps are a type of dynamic pump that relies on the conversion of rotational energy into fluid velocity to transport liquids. They consist of several components, such as an impeller, casing, and inlet and outlet ports. In addition, they are suitable for applications involving water, chemicals, and other non-viscous fluids. They are preferred for their smooth operation, minimal maintenance requirements, and ability to handle large flow rates. They are widely used in various industries due to their versatility, efficiency, and reliability.

Breakup by Distribution Channel:

• Online
• Offline
   

Offline accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes online and offline. According to the report, offline represented the largest segment.

Offline distribution refers to the traditional method of selling industrial pumps through physical stores, dealers, distributors, and resellers. In this distribution channel, manufacturers establish partnerships with authorized distributors and dealers, who then sell the pumps to end-users or industrial customers. These distributors and dealers maintain physical stores or showrooms where customers can visit, view product displays, and seek expert advice before making purchasing decisions. In addition, offline distribution channel allows customers to have a face-to-face interaction with knowledgeable sales representatives that facilitates personalized consultations and address customer queries.

Breakup by Application:

• Oil and Gas
• Chemicals
• Construction
• Power Generation
• Water and Wastewater
• Others
   

Water and wastewater hold the biggest market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes oil and gas, chemicals, construction, power generation, water and wastewater, and others. According to the report, water and wastewater represented the largest segment.

Water and wastewater applications involve the use of these pumps for various processes related to water supply, treatment, and wastewater management. In the water supply application, pumps play a vital role in lifting and transporting water from reservoirs, wells, or rivers to storage tanks or distribution networks. They ensure a steady and reliable water supply to residential, commercial, and industrial consumers. For wastewater treatment, pumps are essential for transferring wastewater from collection points to treatment plants. They assist in the treatment process, which involves filtration, sedimentation, aeration, and disinfection, ultimately purifying the water before it is safely discharged into natural water bodies or reused for non-potable purposes.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific exhibits a clear dominance, accounting for the largest industrial pumps market share

The report has also provided a comprehensive analysis of all the major regional markets, which includes North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others); Latin America (Brazil, Mexico, and Others); and the Middle East and Africa. According to the report, Asia Pacific represented the largest market.

Asia Pacific held the biggest market share due to the rapid industrialization. Apart from this, the rising demand for efficient fluid handling systems in several industries is contributing to the growth of the market in the region. In line with this, the increasing number of water management projects to cater to large population and address water scarcity challenges is supporting the growth of the market. Additionally, the rising demand for energy-efficient and smart pumping solutions is bolstering the growth of the market in the region.

Competitive Landscape:

Key players in the industry are focusing on enhancing pump technologies, introducing energy-efficient models, and developing smart pumping solutions. In line with this, companies are focusing on expanding their market presence by entering new geographical regions and exploring untapped markets. This may involve establishing new sales channels to strengthen their distribution network. Apart from this, major manufacturers are seeking to diversify their product portfolios to cater to a broader range of applications. They may develop pumps for specific industries, such as pharmaceuticals, mining, or food processing. In addition, they are increasingly adopting sustainable practices and promoting environmentally friendly pumps to maintain sustainability and reduce their carbon footprint.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the 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.
• Xylem Inc.

Recent Developments:

• In January 2022, Sulzer Ltd. extended its portfolio of clean water pumps with the launch of the SES and SKS end-suction centrifugal pumps. These new EN733 standard pumps are an efficient, reliable, and cost-effective proposition for municipalities, water treatment facilities, and commercial and irrigation applications.
• In May 2023, Xylem Inc. inaugurates water pumps manufacturing facility in Egypt through a joint venture with Egyptian Tiba Manzalawi Group.
• In 2021, Grundfos Holding A/S announced the launch of its new generation of large CR pumps in India to provide customers with improved flow performance and pump pressure.

Industrial Pumps Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the industrial pumps market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global industrial pumps market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the industrial pumps industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.