Industrial Pump Market Size (2024 - 2029)

The industrial pump market is anticipated to experience growth over the forecast period, driven by the rising demand in power, oil, and gas projects. Despite potential challenges posed by stringent government regulations aimed at reducing carbon emissions, technological advancements in deepwater exploration are expected to offer opportunities for market expansion. The Asia-Pacific region currently leads the market due to factors such as increasing industrialization and refining capacity.

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Market Size of Industrial Pump Industry

Industrial Pump Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 4.23 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Industrial Pump Market Major Players

*Disclaimer: Major Players sorted in no particular order

Industrial Pumps Market Analysis

The industrial pump market is estimated to be at USD 65.23 billion by the end of this year and is projected to reach USD 80.24 billion in the next five years, registering a CAGR of 4.23% during the forecast period.

  • Over the medium period, factors like the increasing demand for power, oil, and gas projects are expected to create demand for industrial pumps during the forecast period.
  • On the other hand, stringent government regulations and policies to reduce carbon emissions will likely hurt the oil and gas industry, restricting market growth.
  • Nevertheless, the technological development, which has rendered deepwater and ultra-deepwater exploration feasible and cost-effective, is expected to increase oil production over the forecast period. It can provide an opportunity for market growth during the forecast period.
  • Asia-Pacific was the dominant region in the market in 2022, owing to factors like increasing industrialization, population, and refining capacity.

Industrial Pumps Industry Segmentation

A pump uses mechanical action to transport liquid substances. Pumping uses for industrial pumps include well water pumping, aquarium filtration, pond filtration, water cooling, and fuel injection in the automotive sector and oil and gas operations in the energy business.

The industrial pump market is segmented by type, end-user industry, and geography. The market is segmented by type into centrifugal pump, reciprocating pump, rotary pump, and other pump types. The market is segmented by end-users into oil and gas, water and wastewater, chemicals and petrochemicals, mining, power generation, and other end-user industries. The report also covers the market size and forecasts for the industrial pump market across major regions. The market sizing and forecasts have been done for each segment based on revenue (USD).

Type
Centrifugal Pump
Reciprocating Pump
Rotary Pump
Other Pump Types
End-user Industry
Oil and Gas
Water and Wastewater
Chemicals and Petrochemicals
Mining
Power Generation
Other End-user Industries
Geography
North America
United States of America
Canada
Rest of the North America
Asia-Pacific
India
China
South Korea
Rest of the Asia-Pacific
Europe
Germany
United Kingdom
France
Italy
Rest of the Europe
South America
Brazil
Argentina
Rest of the South America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Iraq
Rest of the Middle-East and Africa
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Industrial Pump Market Size Summary

The industrial pump market is poised for significant growth, driven by increasing demand in sectors such as power, oil, and gas. Despite challenges posed by stringent environmental regulations, technological advancements in deepwater exploration are expected to bolster oil production, offering growth opportunities. The Asia-Pacific region, particularly China and India, is anticipated to lead the market due to rising industrialization and expanding refining capacities. Centrifugal pumps, known for their efficiency and versatility, are in high demand across various industries, including refineries, food and beverage, and chemical manufacturing. The global refining capacity and the establishment of new refineries are key factors propelling the centrifugal pump market.

The market landscape is characterized by fragmentation, with numerous companies like Flowserve Corporation, Grundfos Holding AS, and Sulzer Ltd playing pivotal roles. Recent innovations, such as EBARA Corporation's development of a liquid hydrogen booster pump and Sulzer's enhanced submersible recirculation pump, highlight the industry's focus on efficiency and performance. The oil and gas sector's role as a primary energy source and its contribution to raw materials for industries like petrochemicals and fertilizers underscore the ongoing demand for industrial pumps. As urbanization and population growth continue, the market is expected to expand, particularly in the Asia-Pacific region, which is set to dominate the market during the forecast period.

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Industrial Pump Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast, in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Petrochemical Industries In Middle East & African Region

        2. 1.5.1.2 Increasing Industrialization Across the World

      2. 1.5.2 Restraints

        1. 1.5.2.1 Stringent Government Regulations and Policies to Reduce Carbon Emissions

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Centrifugal Pump

      2. 2.1.2 Reciprocating Pump

      3. 2.1.3 Rotary Pump

      4. 2.1.4 Other Pump Types

    2. 2.2 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 Mining

      5. 2.2.5 Power Generation

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States of America

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of the North America

      2. 2.3.2 Asia-Pacific

        1. 2.3.2.1 India

        2. 2.3.2.2 China

        3. 2.3.2.3 South Korea

        4. 2.3.2.4 Rest of the Asia-Pacific

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of the Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of the South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 United Arab Emirates

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Iraq

        4. 2.3.5.4 Rest of the Middle-East and Africa

Industrial Pump Market Size FAQs

The Industrial Pump Market is projected to register a CAGR of 4.23% during the forecast period (2024-2029)

Flowserve Corporation , Grundfos Holding A/S, KSB AG , Sulzer Ltd and Weir Group PLC, are the major companies operating in the Industrial Pump Market.

Industrial Pump Market Report Snapshots

Industrial Pump Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)