The global pump market revenue was around US$ 47.9 billion in 2022 and is estimated to reach US$ 72.4 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.7% during the forecast period from 2023 to 2031.
A pump is a mechanical tool used to transfer fluids (gases or liquids) from one place to another. It is intended to produce a pressure or flow difference in the fluid, which allows it to be moved through a process or system. There are many distinct kinds of pumps, such as positive displacement pumps, centrifugal pumps, and jet pumps, each with unique applications and characteristics. Pumps are utilized in a vast array of industries, such as chemical processing, oil and gas production, water and wastewater treatment, and many more.
Market Driving Factors
The demand for pumps in the gas and oil sector is estimated to rise as gas and oil firms raise their investment in production and exploration activities around the world.
Emerging and non-OPEC (Organization of the Petroleum Exporting Countries) nations are estimated to significantly rise their contributions to global gas and oil production. Increasing demand for shale gas, energy, and tight gas, due to the maturity of conventional gas and oil resources. Thus, it is expected to be the main driving factor of the market.
The food and beverage processing industry has expanded rapidly in nations like Brazil, India, and others due to the rise in agriculture and the surge in demand for processed foods. This has led to a significant increase in the need for pumps for processing industries, which is boosting market growth.
Fluctuations in raw materials costs are predicted to impede pumps market expansion.
Regional Analysis
Asia Pacific region is estimated to dominate the market during the projection period. This is due to the rapid industrialization in developing economies in this region and increasing investments in commercial, manufacturing, and industrial projects have contributed to the overall region's growth. Furthermore, rising product penetration in several end-use industries such as petrochemical and agriculture are predicted for market expansion.
In addition, the increasing investments in the petrochemical, chemical, and construction industries with drive the market growth in the region. In addition, various petrochemical and chemical multinational firms are estimated to open new production plants in China due to favorable government policies. As more firms look into capacity expansion in China, the demand for pumps in the country is estimated to increase and boost the market in the region.
Segmentation Insights
In terms of End-User, the water & wastewater segment dominated the market and is estimated to continue its dominance during the projection period. The increasing need for pump stations in wastewater treatment plants where gravity flow is impractical, paired with high transmission velocity and high flow rate deliverability. Hence, it beneficial impacts the market expansion.
Prominent Companies
Segmentation Outline
The global pumps market segmentation focuses on Type, End-User, and Region.
By Type
By End-User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL PUMPS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: PUMPS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL PUMPS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL PUMPS MARKET, BY TYPE
5.1 OVERVIEW
5.2 POSITIVE DISPLACEMENT
5.3 DYNAMIC
6 GLOBAL PUMPS MARKET, BY END-USER
6.1 OVERVIEW
6.2 OIL & GAS
6.3 WATER & WASTEWATER
6.4 POWER GENERATION
6.5 CHEMICALS
6.6 PHARMACEUTICAL
6.7 FOOD & BEVERAGE
6.8 OTHERS
7 GLOBAL PUMPS MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL PUMPS MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 GRUNDFOS
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 SULZER
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 FLOWSERVE
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 ITT CORPORATION
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 DANFOSS
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 INGERSOLL-RAND
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 THE WEIR GROUP
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 EBARA CORP
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 KSB
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 SCHLUMBERGER
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.11 NIKKISO CO LTD
9.11.1 OVERVIEW
9.11.2 FINANCIAL PERFORMANCE
9.11.3 PRODUCT OUTLOOK
9.11.4 KEY DEVELOPMENTS
9.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.12 WILO AG
9.12.1 OVERVIEW
9.12.2 FINANCIAL PERFORMANCE
9.12.3 PRODUCT OUTLOOK
9.12.4 KEY DEVELOPMENTS
9.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.13 ROPER INDUSTRIES
9.13.1 OVERVIEW
9.13.2 FINANCIAL PERFORMANCE
9.13.3 PRODUCT OUTLOOK
9.13.4 KEY DEVELOPMENTS
9.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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