Market Size of Pump Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 68.46 Billion |
| Market Size (2029) | USD 86.07 Billion |
| CAGR (2024 - 2029) | 3.37 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pump Market Analysis
The Pump Market size is estimated at USD 68.46 billion in 2024, and is expected to reach USD 86.07 billion by 2029, growing at a CAGR of 3.37% during the forecast period (2024-2029).
- Over the long term, the increasing infrastructure development activities coupled with a rising emphasis on water and wastewater management are expected to drive the pump market.
- On the other hand, volatility in raw material prices, such as steel, iron, and various metals, is expected to hinder the market's growth during the forecast period.
- The industry overview indicates that the rapid urbanization and industrialization in emerging economies present a substantial growth opportunity for pumps for water supply and industrial processes.
- Asia-Pacific is expected to dominate the market share during the forecast period. This growth rate is attributed to increasing investments across end-use industries in countries including India, China, and Japan.
Pump Market Segmentation
A pump is a mechanical device used to move fluids (liquids or gases) from one location to another. It is designed to create a flow or pressure difference in the fluid, which allows it to be moved through a system or process. Electricity, gasoline or diesel engines, hydraulic systems, or other energy sources can all power pumps. There are many different types of pumps, including centrifugal pumps, positive displacement pumps, and jet pumps, each with their unique characteristics and applications. Pumps are used in a wide variety of industries, including water and wastewater treatment, oil and gas production, chemical processing, and many others.
The pump market report is segmented by type, end user, and geography. By type, the market is segmented into centrifugal pumps and positive displacement pumps. By end user, the market is segmented into oil and gas, water and wastewater, chemicals and petrochemicals, the mining industry, power generation, and other end users. The industry report also covers the market share, , market outlook, and forecasts for the global pump market across major regions.
For each segment, the market sizing, market forecast, and market value are provided based on revenue (USD).
| By Type | |
| Centrifugal Pump | |
| Positive Displacement Pump |
| By End User | |
| Oil and Gas | |
| Water and Wastewater | |
| Chemicals and Petrochemicals | |
| Mining Industry | |
| Power Generation | |
| Other End Users |
| By Geography Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)} | ||||||||||||
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Pump Market Size Summary
The pump market is poised for steady growth over the forecast period, driven by increasing infrastructure development and a heightened focus on water and wastewater management. Despite challenges such as fluctuating raw material prices, the market is expected to benefit from rapid urbanization and industrialization in emerging economies, particularly in the Asia-Pacific region. This region is anticipated to lead the market due to significant investments in end-use industries across countries like India, China, and Japan. The demand for pumps is further bolstered by the oil and gas sector, where they play a crucial role in hydrocarbon extraction and processing, especially with the ongoing shale gas revolution and offshore exploration activities.
Asia-Pacific's dominance in the pump market is reinforced by its robust industrialization, urbanization, and expanding oil and gas industry. The region's large and growing population drives the demand for water supply and sanitation systems, while its thriving manufacturing sector requires pumps for various industrial applications. The combination of these factors, along with the region's role as a global manufacturing hub, solidifies its position in the market. The pump market remains moderately fragmented, with key players like Flowserve Corporation, Grundfos Holding AS, and KSB SE & Co. KGaA actively participating in strategic collaborations and acquisitions to enhance their market presence and technological offerings.
Pump Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD till 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Market Drivers
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1.5.1.1 Increasing Infrastructure Development
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1.5.1.2 Rising Emphasis Water and Wastewater Management
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1.5.2 Market Restraints
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1.5.2.1 Volatility in Raw Material Prices
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1.6 Supply Chain Analysis
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1.7 Industry Attractiveness - Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Centrifugal Pump
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2.1.2 Positive Displacement Pump
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2.2 By End User
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2.2.1 Oil and Gas
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2.2.2 Water and Wastewater
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2.2.3 Chemicals and Petrochemicals
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2.2.4 Mining Industry
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2.2.5 Power Generation
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2.2.6 Other End Users
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2.3 By Geography Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 France
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2.3.2.3 Spain
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2.3.2.4 United Kingdom
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2.3.2.5 Russia
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2.3.2.6 NORDIC
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2.3.2.7 Italy
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2.3.2.8 Turkey
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2.3.2.9 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Australia
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2.3.3.6 Malaysia
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2.3.3.7 Thailand
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2.3.3.8 Indonesia
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2.3.3.9 Vietnam
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2.3.3.10 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Colombia
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2.3.4.4 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 United Arab Emirates
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2.3.5.3 South Africa
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2.3.5.4 Nigeria
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2.3.5.5 Qatar
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2.3.5.6 Egypt
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2.3.5.7 Rest of the Middle East and Africa
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Pump Market Size FAQs
How big is the Pump Market?
The Pump Market size is expected to reach USD 68.46 billion in 2024 and grow at a CAGR of 3.37% to reach USD 86.07 billion by 2029.
What is the current Pump Market size?
In 2024, the Pump Market size is expected to reach USD 68.46 billion.
