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Pumps Market future growth opportunities 2025 | Top Manufacturers Schlumberger, Sulzer, Gardner Denver, Flowserve Corporation, Xylem Inc., Generac Power Systems, GRUNDFOS, Atlas Copco are Top Manufacturers

02-17-2020 06:46 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Global Market Insights

Pumps Market future growth opportunities 2025 | Top

Oil & gas industry is the major influencer behind escalating global pumps market as pumps are the key equipment used in upstream and midstream operations to accelerate transfer of fluid from one location to other. Oil pumps are used to lift fluid out of an oil well when there is not enough ground pressure to force the oil on the surface. These pumps are used mainly in onshore areas where oil is in abundant but the ground needs external force to release it.

Pumps Market will surpass USD 91 billion by 2025. Despite of having applications in several business industries, global pumps market growth is hindered by high maintenance and operational cost of the equipment, as eventually some parts get damaged and need to be replaced or repaired immediately, otherwise they can hamper the total productivity of the plant.

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Stationary pumps are widely accepted in pumps industry having a market share of around 75% in 2025 owing to its strong presence in oil & gas industry as well as in concrete applications. On the other hand, increasing fire accidents at manufacturing industries and at residential and commercial areas is the main reason contributing towards growth of portable pumps worldwide.

Based on position, pumps are categorized as of two types submersible and non-submersible. This segment is dominated by non-submersible pumps because of their growing use in surface application like pressure boosting, water transfer, turf irrigation, washdown application, storm water, waste water and in other areas. Submersible pumps hold a comparatively smaller market due to their restricted use in offshore areas. However, with increasing exploration activities related to deepwater and increase in subsea operations are factors that will offer growth opportunities to submersible pumps.

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Pumps have their footprints in a range of applications including mining, oil & gas, industrial, municipal and in many other areas. Oil & gas industry is one of the key end-user sectors owing to its variety of feature and use upstream activities as well as in midstream operations. The other segment that have use of pumps is mining industry as mining operations requires huge pumping systems for dewatering operations before mining starts as well as for washing purposes of the extracted hydrocarbon, thereby propelling demand for overall pump market.

Asia pacific is the strongest market among all for pumps industry accounting for a market share of close to 52% in 2018, as the region comprises of a number of local as well as medium scale enterprises engaged in the business of manufacturing and selling different types of pumps and their equipment. Furthermore, the region has been experiencing a tremendous growth in its industrial sector which in turn is triggering the demand for pumps in agricultural, food, chemical, pharmaceutical and in other application areas.

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Global pumps market covers various medium and large-scale manufacturers in the industry. Key players in pumps market include Kirloskar Brothers Ltd., Xylem Inc., Atlas Copco, MultiQuip, Gorman Rupp, Magnum, Wacker Neuson, Generac, Gardner Denver, Grundfos, Sulzer Ltd., Flowserve Corporation, Ebara Corporation, Shimadzu Corporation, Schlumberger, Baker Hughes etc. Some key players in the industry are focusing towards introducing new and innovative products to maintain competitive environment in the market. For instance, Gardner Denver introduced a new fluid transfer technology in 2018 to differentiate itself from other players.

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