Market Size of Commercial Pumps Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.75 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Commercial Pumps Market Analysis
The commercial pumps market is expected to grow at a CAGR of 5.75% during the forecast period (2021 - 2026). Commercial pumps are the major machinery in any manufacturing and commercial operations. The commercial pumps market is highly dependent on irrigation, agriculture, construction, and oil and gas industries. These end-users have a continuous demand for the commercial pump equipment and consist major share of the market.
- The recent introduction of the green buildings concept has transformed the production strategies of many top commercial pump vendors in the market. There have been high research and development activities in the market to produce highly energy efficient and smart commercial pumps.
- Moreover, the increased adaption of IoT will be a major opportunity for a commercial pump market as pumps are going to have more embedded technology and be able to use advanced analytics to optimize themselves for the systems. This requires the modern commercial pumps market to cope up with the requirements. Hence, the commercial pumps market is on the verge of transformation providing an edge over the competitors to those vendors who have the capabilities to manufacture smart and energy efficient commercial pumps.
- However, the high cost of energy- efficient system pumps and fluctuation in the price of raw materials are hindering the growth of the commercial pump market.
Commercial Pumps Industry Segmentation
The commercial pumps are devices that moves liquid, gases or slurries by mechanical action that are specifically used for commercial purposes such as agriculture, construction, mining, many other activities. The commercial pump is classified into different types depending upon its end-user usage.
| By Type | |
| Single Stage Pumps | |
| Seal-less and Circulator Pumps | |
| Multi Stage Pumps | |
| Submersible Pumps | |
| Other Types |
| By End-user | |
| Agriculture and Irrigation | |
| Oil & Gas Industry | |
| Construction | |
| Water Treatment | |
| Mining Industry | |
| Energy & Power Generation | |
| Chemical Industry | |
| Other End-users |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East & Africa |
Commercial Pumps Market Size Summary
The commercial pumps market is poised for significant growth, driven by its critical role in various industries such as irrigation, agriculture, construction, and oil and gas. These sectors rely heavily on commercial pumps for their operations, ensuring a steady demand for this equipment. The market is undergoing a transformation with the introduction of green building concepts, prompting vendors to focus on producing energy-efficient and smart pumps. The integration of IoT technology presents new opportunities, allowing pumps to utilize advanced analytics for optimization. However, challenges such as the high cost of energy-efficient systems and fluctuating raw material prices pose obstacles to market expansion.
In the oil and gas sector, commercial pumps are indispensable for drilling, extraction, and transportation operations, with their demand bolstered by stabilizing crude oil prices and increased investments in exploration activities. The construction industry also significantly contributes to the market, with a growing emphasis on sustainable building practices. Green buildings, which utilize low-energy-consuming pumps, are becoming more prevalent, particularly in North America, where they help reduce carbon footprints. The market is consolidated, with major players like Pentair Inc., Xylem Inc., and Parker Hannifin Corp. dominating due to their established presence and capabilities. Recent acquisitions, such as Parker Hannifin's purchase of LORD Corporation and Xylem's acquisition of EmNet, highlight the ongoing strategic moves by key players to enhance their technological offerings and market positions.
Commercial Pumps Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Adoption Of Green Buildings
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1.2.2 Potential Growth in Construction Activities
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1.3 Market Restraints
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1.3.1 High Cost of Energy-efficient Pumps
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1.3.2 Fluctuations in the Price of Raw Materials
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1.4 Market Opportunities
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1.4.1 Increased Adoption of IoT Solutions
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1.4.2 Incerased Activity in Oil & Gas Industry
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1.5 Industry Value Chain Analysis
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1.6 Industry Attractiveness - Porter's Five Force Analysis
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1.6.1 Bargaining Power of Suppliers
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1.6.2 Bargaining Power of Buyers/Consumers
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1.6.3 Threat of New Entrants
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1.6.4 Threat of Substitute Products
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1.6.5 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 Single Stage Pumps
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2.1.2 Seal-less and Circulator Pumps
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2.1.3 Multi Stage Pumps
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2.1.4 Submersible Pumps
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2.1.5 Other Types
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2.2 By End-user
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2.2.1 Agriculture and Irrigation
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2.2.2 Oil & Gas Industry
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2.2.3 Construction
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2.2.4 Water Treatment
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2.2.5 Mining Industry
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2.2.6 Energy & Power Generation
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2.2.7 Chemical Industry
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2.2.8 Other End-users
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 Latin America
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2.3.5 Middle East & Africa
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Commercial Pumps Market Size FAQs
What is the current Commercial Pumps Market size?
The Commercial Pumps Market is projected to register a CAGR of 5.75% during the forecast period (2024-2029)
Who are the key players in Commercial Pumps Market?
Pentair Inc., Xylem Inc., Parker Hannifin Corp., CG Power and Industrial Solutions Limited and Patterson Pumps are the major companies operating in the Commercial Pumps Market.
