Asia-Pacific Industrial Pumps Market Size (2024 - 2029)

The Asia-Pacific industrial pumps market is experiencing growth driven by increasing investments in construction and water infrastructure, which boost the demand across various industries such as chemicals, wastewater treatment, and power generation. Technological advancements, including the integration of 3D printing and digital solutions like IoT, are further propelling the market's expansion. Despite challenges posed by COVID-19 restrictions and rising raw material costs, the market is poised for recovery and growth as these constraints ease. However, the preference for cost-effective products may pose a challenge to the market's expansion.

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Market Size of Asia-Pacific Industrial Pumps Industry

Asia-Pacific Industrial Pumps Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.90 %
Market Concentration Medium

Major Players

Asia-Pacific Industrial Pumps Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Industrial Pumps Market Analysis

The Asia-Pacific Industrial Pumps market is estimated to grow at a CAGR of about 4.9% from 2022 to 2027. Industrial pumps find application in a wide range of industries like water and wastewater, oil and gas, chemicals, food, and beverages and play an important role in moving an assortment of fluids from one location to another.

  • In the Asia Pacific, the demand for industrial pumps is driven by increasing investments towards building and construction along with water infrastructure, with consistent expansion in access to water supply and sanitation systems. This has led to an increase in the utilization of pumps across various end-use industries like chemical and wastewater treatment plants and general industries like mining, pulp, paper manufacturing, food and beverages, and power generation.
  • As per a recent Radio Free Asia (RFA) report, a new hydropower project is expected to be undertaken on the mainstream of the Mekong River. The USD 2.4 billion projects are being developed by Thailand's Charoen Energy and Water Asia (CEWA) and, if approved, will be built by two South Korean construction companies, Korea Western Power (KOWEPO) and Doosan Heavy Industries & Construction. If approved, the project is scheduled to be completed in 2029. Such developments will propel the demand for industrial pumps.
  • Further, the technological advancements in manufacturing and the combination of 3D printing technology with computer modeling is another primary factor driving the market's growth. With the increased adoption of digital solutions such as IoT, data analysis, and network connectivity, the industrial pump market is resorting to digitalization for better water management, identifying faults, and capturing live data with the help of a remote monitoring option.
  • The increase in COVID-19 cases in the Asia Pacific region and the consequent restrictions imposed on various activities have severely impacted the industrial pumps market. A decline in pump consumption and the restriction on construction activities hampered the market growth. However, with restrictions easing up, the market is expected to recover in the coming years.
  • Over the past couple of years, the rising costs of raw materials such as steel, copper, and aluminum, have pushed up the prices of industrial pumps in the region. However, customers' inclination toward low-cost products might act as a restraint for the market growth.

Asia-Pacific Industrial Pumps Industry Segmentation

An industrial pump is equipment used to move many different products, such as water, chemicals, petroleum, wastewater, oil, sludge, slurry, or food. It comes in a variety of shapes, sizes, and capacities. Industrial pumps can be broadly classified into positive displacement pumps and centrifugal pumps.

By Type
Positive Displacement
Rotary Pump
Reciprocating
Peristaltic
Centrifugal
Single-stage
Multi-stage
Submersible
Others
By End-User Industry
Oil and Gas
Water and Wastewater
Chemicals and Petrochemicals
Power Generation
Pharmaceutical/Life Sciences
Food and Beverage
Other End-user Industries
By Country
China
India
Japan
South Korea
Rest of Asia-Pacific
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Asia-Pacific Industrial Pumps Market Size Summary

The Asia-Pacific industrial pumps market is poised for steady growth, driven by increasing investments in infrastructure and water management systems across the region. Industrial pumps are essential in various sectors, including water and wastewater management, oil and gas, chemicals, and food and beverages, facilitating the movement of fluids. The demand for these pumps is further bolstered by advancements in technology, such as the integration of IoT and digital solutions, which enhance water management and operational efficiency. Despite challenges posed by the COVID-19 pandemic, which temporarily slowed market growth due to restrictions on construction activities, the market is expected to recover as restrictions ease. However, rising raw material costs and a preference for cost-effective solutions may pose challenges to market expansion.

Centrifugal pumps, a significant segment within the industrial pumps market, are increasingly utilized in mining and industrial applications due to their efficiency in fluid transfer. The growing rate of industrialization and urbanization in the Asia-Pacific region, coupled with rising energy demands, is expected to drive the adoption of these pumps. In China, substantial infrastructure development and a booming food and beverage industry are key factors propelling market growth. The competitive landscape of the Asia-Pacific industrial pumps market is characterized by strategic collaborations and innovations by major players, such as Grundfos and Sulzer, who continue to expand their product offerings to meet diverse industrial needs.

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Asia-Pacific Industrial Pumps Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness-Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Intensity of Competitive Rivalry

      5. 1.2.5 Threat of Substitutes

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Impact of COVID-19 Outbreak on the Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Positive Displacement

        1. 2.1.1.1 Rotary Pump

        2. 2.1.1.2 Reciprocating

        3. 2.1.1.3 Peristaltic

      2. 2.1.2 Centrifugal

        1. 2.1.2.1 Single-stage

        2. 2.1.2.2 Multi-stage

        3. 2.1.2.3 Submersible

        4. 2.1.2.4 Others

    2. 2.2 By End-User Industry

      1. 2.2.1 Oil and Gas

      2. 2.2.2 Water and Wastewater

      3. 2.2.3 Chemicals and Petrochemicals

      4. 2.2.4 Power Generation

      5. 2.2.5 Pharmaceutical/Life Sciences

      6. 2.2.6 Food and Beverage

      7. 2.2.7 Other End-user Industries

    3. 2.3 By Country

      1. 2.3.1 China

      2. 2.3.2 India

      3. 2.3.3 Japan

      4. 2.3.4 South Korea

      5. 2.3.5 Rest of Asia-Pacific

Asia-Pacific Industrial Pumps Market Size FAQs

The Asia-Pacific Industrial Pumps Market is projected to register a CAGR of 4.90% during the forecast period (2024-2029)

Grundfos Holding A/S, Flowserve Corporation, Sulzer Ltd., Ebara Corporation and Kirloskar Brothers Limited are the major companies operating in the Asia-Pacific Industrial Pumps Market.

APAC Industrial Pumps Market Report Snapshots

Asia-Pacific Industrial Pumps Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)