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Industrial Pumps Global Market Report 2023 -2032: Opportunity Assessment, Production Analysis, Growth Rate And Major Players | Grundfos Holding A/S, Xylem Inc., Flowserve Corporation, SPX Flow Inc., KSB SE &Co
Industrial Pumps Market
The Business Research Company's Template Global Market Report 2023 identifies An increase in construction activities as the major driver for the Industrial Pumps Market's growth in the forecast period. Construction activities refer to the installation and assembling activities associated with land-disturbing activities to develop infrastructure and structures. Industrial pumps are used in construction to remove the excess water on the site accumulated due to high water tables or heavy rain, so an increase in construction activities will propel the market.
The global industrial pumps market size is expected to grow from $60.95 billion in 2022 to $64.71 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial pumps market size is expected to grow to $80.55 billion in 2027 at a CAGR of 5.6%.
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Major competitors in the industrial pumps market are Grundfos Holding A/S, Xylem Inc., Flowserve Corporation, SPX Flow Inc., KSB SE &Co. KGaA, Sulzer Ltd.., ITT Inc., Schlumberger Limited, EBARA International Corporation, The Weir Group PLC., Pentair PLC., Iwaki Co. Ltd.., Atlas Copco, Baker Hughes Company, and Alfa Laval AB.
A key trend in the Industrial Pumps Market includes Product innovation. Major companies operating in the industrial pump market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Vogelsang GmbH & Co. KG, a Germany-based highly engineered equipment producer, developer, and distributor launched highly efficient rotary lobe pumps. These are uniquely designed for extreme conditions and constant high-pressure performance suitable for oil and gas industry applications. It is one of a kind pump in the market that has a heavy-duty gearbox that allows constant pressure output of 18 bar and temperature tolerance of up to 200° C.
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The Industrial Pumps Market is segmented -
By Product: Centrifugal Pump, Positive Displacement Pump, Other Products
By Position: Submersible, Non-Submersible
By Driving Force: Engine Driven, Electrical Driven
By Application: Oil And Gas, Chemicals, Construction, Power Generation, Water And Wastewater, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Industrial Pumps Market.
The Business Research Company's "Global Industrial Pumps Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Industrial Pumps Market Include:
1. Executive Summary
2. Industrial Pumps Market Characteristics
3. Industrial Pumps Market Trends And Strategies
4. Industrial Pumps Market - Macro Economic Scenario
5. Industrial Pumps Market Size And Growth
……
26. Africa Industrial Pumps Market
27. Industrial Pumps Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Pumps Market
29. Industrial Pumps Market Future Outlook and Potential Analysis
30. Appendix
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