Global Industrial Pumps Market Size (2024 - 2029)

The industrial pumps market is experiencing growth driven by the increasing demand for energy-efficient solutions, enhanced wastewater management systems, and robust industrialization. The market's expansion is further supported by exploration activities in the oil and gas sector and the need to upgrade wastewater treatment facilities, addressing environmental concerns and water scarcity. Strategic partnerships and collaborations among vendors are also contributing to the market's development. However, the market faced challenges during the COVID-19 pandemic due to reduced industrial activity and demand.

Market Size of Global Industrial Pumps Industry

Industrial Pump Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.70 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Industrial Pump Market Key players

*Disclaimer: Major Players sorted in no particular order

Industrial Pumps Market Analysis

The global industrial pumps market is expected to grow at a CAGR of 4.7% during the forecast period, 2022-2027. The rising demand for high-energy efficiency pumps, the growing focus on wastewater management systems, and strong industrialization growth prospects are key factors propelling the market over the forecast period.

  • Industrial pumps are primarily used in harsh or heavy-duty applications. Growing exploration activities in the oil and gas sector because of the escalating energy demand and the increasing emphasis on upgrading existing wastewater treatment plants contribute to market growth. This could be due to the limited availability of potable water, raising awareness about the harmful impacts of drinking contaminated water, and growing environmental concerns.
  • India is planning to derive 40% of its energy from renewable sources by 2030, which is at 15% currently. To achieve these energy manufacturing goals, manufacturers, with the government's help, are making significant investments in the market studied. For instance, the Union Budget 2022-23 emphasized inclusive growth and welfare. The PM Gati Shakti plans to provide world-class modern infrastructure and logistics synergy for the growth and development of the country. For the pump industry, an increased share of domestic procurement in defense and additional allocation of PLI for high-efficiency solar module manufacturing would benefit the respective manufacturers of pumps.
  • The market is also witnessing various partnerships and collaborations among various vendors that is augmenting the market growth. For instance, in June 2022, Flowserve Corporation, a leading provider of flow control products and services for global infrastructure markets, announced a contract to supply pumps to TMGcore, Inc., a Texas-based leading provider of high-performance computing solutions specializing in liquid immersion cooling technology.
  • Additionally, a primary boiler feed water pump, BFP (RHD-350), and Booster Pump-BP (YNK 350-620) were supplied by the pump manufacturer KSB Ltd in April 2021 to the Nuclear Power Corporation of India Ltd. (NPCIL). By creating the pump for the 700 MW Indian Pressurized Heavy Water Reactors (PHWRs) and adding it to its product line, which already includes a variety of pumps for nuclear application, KSB Ltd. achieved a significant milestone.
  • Demand in the industrial sector was noticeably lower during the COVID-19 outbreak and the ensuing lockdown. The entire industrial manufacturing capacity was decreased, and the consumer sectors were consolidated in 2020 and 2021 due to the closure of smaller companies and organizations with a rather precarious financial state. For instance, the decreased demand for pumps from end-users caused Flowserve Corporation, one of the largest manufacturers of industrial pumps, to see a significant decline in operating income from USD 387 million to USD 250 million.

Industrial Pumps Industry Segmentation

Industrial pumps are mechanical equipment that are used to displace different fluids, such as oil, water, sludge, slurry, chemicals, petroleum, and wastewater, from one location to another. They are available in different sizes, shapes, and configurations based on liquid applications and materials used during manufacturing.

The Global industrial pumps market is segmented by Type (Positive Displacement (Diaphragm, Piston, Gear, Lobe, Progressive Cavity, Screw, Vane, Peristaltic), Centrifugal (Axial Flow, Radial Flow, Mixed Flow), by End-user Industry (Oil and Gas, Chemicals, Food and Beverages, Waste and Wastewater, Pharmaceutical, Metal and Mining, Construction), and by Geography.

By Type
Positive Displacement
Diaphragm
Piston
Gear
Lobe
Progressive Cavity
Screw
Vane
Peristaltic
Centrifugal Pump
Axial Flow
Radial Flow
Mixed Flow
By End-user Industry
Oil & Gas
Chemicals
Food & Beverage
Water & Wastewater
Pharmaceutical
Metal and Mining
Construction
Other End-user Industries
By Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle-East and Africa
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Global Industrial Pumps Market Size Summary

The industrial pumps market is poised for steady growth, driven by the increasing demand for energy-efficient solutions and the expanding focus on wastewater management systems. The sector is experiencing robust expansion due to strong industrialization trends and the need for high-performance pumps in demanding applications such as oil and gas exploration and wastewater treatment. The market is further bolstered by significant investments in renewable energy infrastructure, particularly in regions like India, where government initiatives aim to enhance energy production capabilities. Collaborations and partnerships among key industry players, such as Flowserve Corporation and Gradiant, are also contributing to market dynamics by addressing complex water and wastewater treatment challenges.

The market landscape is characterized by a competitive environment with major players like Atlas Copco and The Weir Group PLC actively expanding their presence through strategic acquisitions and technological innovations. The demand for industrial pumps is particularly strong in sectors such as chemical processing, power generation, and water infrastructure, driven by the need for improved sanitation and water supply systems. Despite challenges posed by the COVID-19 pandemic, which temporarily reduced demand and slowed construction activities, the market is expected to recover as restrictions ease and industrial activities resume. The Asia Pacific region, in particular, is anticipated to see significant growth due to rising industrialization, urbanization, and energy demands, further fueling the adoption of industrial pumps.

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Global Industrial Pumps Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porters Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Positive Displacement

        1. 2.1.1.1 Diaphragm

        2. 2.1.1.2 Piston

        3. 2.1.1.3 Gear

        4. 2.1.1.4 Lobe

        5. 2.1.1.5 Progressive Cavity

        6. 2.1.1.6 Screw

        7. 2.1.1.7 Vane

        8. 2.1.1.8 Peristaltic

      2. 2.1.2 Centrifugal Pump

        1. 2.1.2.1 Axial Flow

        2. 2.1.2.2 Radial Flow

        3. 2.1.2.3 Mixed Flow

    2. 2.2 By End-user Industry

      1. 2.2.1 Oil & Gas

      2. 2.2.2 Chemicals

      3. 2.2.3 Food & Beverage

      4. 2.2.4 Water & Wastewater

      5. 2.2.5 Pharmaceutical

      6. 2.2.6 Metal and Mining

      7. 2.2.7 Construction

      8. 2.2.8 Other End-user Industries

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 France

        4. 2.3.2.4 Spain

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Mexico

        3. 2.3.4.3 Rest of Latin America

      5. 2.3.5 Middle-East and Africa

Global Industrial Pumps Market Size FAQs

The Global Industrial Pumps Market is projected to register a CAGR of 4.70% during the forecast period (2024-2029)

 Flowserve Corporation, Grundfos Holding AS, KSB AG, ITT Inc. and Sulzer Ltd are the major companies operating in the Global Industrial Pumps Market.

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