Steam Generation Water Pumps Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.95 Billion |
| Market Size (2029) | USD 11.05 Billion |
| CAGR (2024 - 2029) | 4.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Steam Generation Water Pumps Market Analysis
The Steam Generation Water Pumps Market size is estimated at USD 8.95 billion in 2024, and is expected to reach USD 11.05 billion by 2029, growing at a CAGR of 4.30% during the forecast period (2024-2029).
• Over the medium period, increased government investment in establishing water treatment infrastructure and increased power generation using steam is expected to drive the market in the forecast period.
• On the other hand, the emissions regulations, high capital and operations costs, and government renewable energy targets are expected to hinder the market in the forecast period.
• Nevertheless, technological advancements in steam-generation water pumps are expected to create future market opportunities.
• Asia-Pacific is expected to dominate the market in the forecast period.
Steam Generation Water Pumps Market Trends
Boiler Feed Pump is Expected to have a Significant Market Share
- Boiler feed pumps, also known as feed pumps, feed a steam generator such as a boiler or a nuclear reactor with a quantity of feed water corresponding to the amount of steam emitted.
- Boiler feed pumps operate at fluid temperatures of 160 to 210 ºC. In exceptional cases, the temperature of the fluid handled may be higher still. The design of boiler feed pumps, including power input, material, type of pump, and drive, is primarily governed by developments in power station technology.
- The boiler feed water pump used in power plants is a high-temperature and high-pressure multi-stage pump that can transport high-temperature fluids. With the increase in power demand and growing urbanization and population, the need for pumps used in power plants is expected to increase. For instance, according to the Statistical Review of World Energy Data, in 2023, global electricity generation accounted for 29924.8 TWh, with an annual growth rate of 2.5% compared to the previous year.
- A typical combined-cycle plant may have between 50 to 100 pumps, including boiler feed pumps. With the establishment of new combined-cycle plants to cope with the increasing energy demand, boiler feed pumps and other pumps are expected to increase.
- For example, in July 2023, Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), got a full-turnkey contract from Chiba-Sodegaura Power Co., Ltd., for a project to build three gas turbine combined cycle (GTCC) power plants with 650MW class natural gas-fired units in Sodegaura City, Chiba Prefecture.
- Thus, owing to the increasing power consumption and power plant construction, boiler feed pump is expected to have a significant share in the market.
Asia-Pacific is Expected to Dominate the Market
- Asia-Pacific is a developing continent with rapid economic and power demands due to significant growth driven by infrastructure development and many large construction projects.
- According to the Statistical Review of World Energy Data, in 2023, the Asia Pacific's total energy consumption accounted for 291.77 Exajoules, with an annual growth rate of 4.7 % compared to the previous year. Steam generation water pumps are generally used in power plants or any other application to provide energy in the form of steam.
- The share of Asia-Pacific's total global energy consumption is nearly 47.1% in 2023. With increasing energy consumption, the use of water pumps is expected to grow with its use coming from power plants running from steams.
- For instance, in October 2023, Thermax commissioned a contract for the 19.9 MW power plant in Negros Island in the Philippines – a first in South East Asia. The company completed the project, whose scope comprised a 90 TPH boiler, 19.9 MW steam turbine generator, and Balance of Plant systems.
- Further, the region have several upcoming thermal power plants, which are likley to create demand for steam generation water pumps. For instance, most of the countries like China, India, Indonesia, Vietnam, and a few others have plans to construct thermal power plants to meet its energy demand.
- In 2022 and 2023, China alone approved 218 GW of coal power plants. Commissioning of such projects is likley to have significant demand for steam generation water pumps in the region.
- Thus, owing to the above points, with the increasing use of steam, especially in power generation, Asia-Pacific is expected to dominate the market in the forecast period.
Steam Generation Water Pumps Industry Overview
The steam generation water pumps market is semi-fragmented. Some of the key players in this market include (in no particular order) Sulzer Limited, Thermax Limited, Wanner International Limited, Sundyne, and Mitsubishi Heavy Industries Ltd.
Steam Generation Water Pumps Market Leaders
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Sulzer Limited
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Thermax Limited
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Wanner International Limited
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Mitsubishi Heavy Industries, Ltd
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Sundyne
*Disclaimer: Major Players sorted in no particular order
Steam Generation Water Pumps Market News
• In January 2023, Takeda announced project AHEAD (Advanced Heat Pump Demonstrator) in partnership with the Federal Ministry for Climate Protection, Environment, Energy, Mobility, Innovation and Technology (BMK); the Climate and Energy Fund; and the AIT Austrian Institute of Technology. In the project, a natural gas-free steam-generating heat pump will be integrated into industrial operation for the first time. The project aims to achieve a carbon dioxide (CO2) reduction of up to 90% at one of Takeda's major manufacturing sites in Vienna using only natural refrigerants.
Steam Generation Water Pumps Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2029
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.1.1 Increased Government Investment in Establishing Water Treatment Infrastructure
- 4.5.1.2 Increase in Power Generation Using Steam
- 4.5.2 Restraints
- 4.5.2.1 The Emissions Regulations, High Capital and Operations Costs
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
- 4.8 Investment Analysis
5. MARKET SEGMENTATION
-
5.1 Type
- 5.1.1 Boiler feed pump
- 5.1.1.1 Vertical multistage inline pumps
- 5.1.1.2 Multistage horizontal ring section pumps
- 5.1.2 Circulation pumps
- 5.1.3 Steam condensate pumps
- 5.1.4 Others
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5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Rest of North America
- 5.2.2 Europe
- 5.2.2.1 United Kingdom
- 5.2.2.2 France
- 5.2.2.3 Germany
- 5.2.2.4 Spain
- 5.2.2.5 Russia
- 5.2.2.6 Turkey
- 5.2.2.7 NORDIC
- 5.2.2.8 Rest of the Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 India
- 5.2.3.3 Japan
- 5.2.3.4 Vietnam
- 5.2.3.5 Thailand
- 5.2.3.6 Indonesia
- 5.2.3.7 Malaysia
- 5.2.3.8 Rest of Asia-Pacific
- 5.2.4 South America
- 5.2.4.1 Brazil
- 5.2.4.2 Argentina
- 5.2.4.3 Colombia
- 5.2.4.4 Rest of South America
- 5.2.5 Middle East and Africa
- 5.2.5.1 United Arab Emirates
- 5.2.5.2 Saudi Arabia
- 5.2.5.3 Nigeria
- 5.2.5.4 Qatar
- 5.2.5.5 Egypt
- 5.2.5.6 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 Sulzer Limited
- 6.3.2 Thermax Limited
- 6.3.3 Wanner International Limited
- 6.3.4 Sundyne
- 6.3.5 Mitsubishi Heavy Industries, Ltd.
- 6.3.6 EBARA CORPORATION.
- 6.3.7 Modo Pumps Co, Ltd.
- 6.3.8 Castle Pumps.
- 6.3.9 Inproheat Industries.
- 6.3.10 Fuji Electric Co., Ltd.
- *List Not Exhaustive
- 6.4 Markey Ranking Analysis
- 6.5 List of Other Prominent Companies
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 The Technological Advancement in the Steam Generation Water Pumps
Steam Generation Water Pumps Industry Segmentation
Steam Generation Water Pumps are a particular class of high-pressure centrifugal pumps used in many different models and sizes in many different plants, units, and production facilities.
The steam generation water pumps are segmented by type and Geography. The market is segmented by type into boiler feed pumps, circulation pumps, steam condensate pumps, and Others. The report also covers the market size and forecasts for the major regions of the steam generation water pump market. The market sizing and forecasts were made for each segment based on revenue (USD).
| Type | Boiler feed pump | Vertical multistage inline pumps |
| Multistage horizontal ring section pumps | ||
| Type | Circulation pumps | |
| Steam condensate pumps | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography | Europe | United Kingdom |
| France | ||
| Germany | ||
| Spain | ||
| Russia | ||
| Turkey | ||
| NORDIC | ||
| Rest of the Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| Vietnam | ||
| Thailand | ||
| Indonesia | ||
| Malaysia | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| Geography | Middle East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| Nigeria | ||
| Qatar | ||
| Egypt | ||
| Rest of Middle East & Africa |
Steam Generation Water Pumps Market Research FAQs
How big is the Steam Generation Water Pumps Market?
The Steam Generation Water Pumps Market size is expected to reach USD 8.95 billion in 2024 and grow at a CAGR of 4.30% to reach USD 11.05 billion by 2029.
What is the current Steam Generation Water Pumps Market size?
In 2024, the Steam Generation Water Pumps Market size is expected to reach USD 8.95 billion.
Who are the key players in Steam Generation Water Pumps Market?
Sulzer Limited, Thermax Limited, Wanner International Limited, Mitsubishi Heavy Industries, Ltd and Sundyne are the major companies operating in the Steam Generation Water Pumps Market.
Which is the fastest growing region in Steam Generation Water Pumps Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Steam Generation Water Pumps Market?
In 2024, the Asia Pacific accounts for the largest market share in Steam Generation Water Pumps Market.
What years does this Steam Generation Water Pumps Market cover, and what was the market size in 2023?
In 2023, the Steam Generation Water Pumps Market size was estimated at USD 8.57 billion. The report covers the Steam Generation Water Pumps Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Steam Generation Water Pumps Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Steam Generation Water Pumps Industry Report
Statistics for the 2024 Steam Generation Water Pumps market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Steam Generation Water Pumps analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
