Press release
Industrial Pumps Market to Grow at a CAGR of 4.3% and Reach USD 86.3 Billion by 2030
๐๐๐ฉ ๐๐ฃ๐จ๐๐๐ ๐๐๐ค๐ค๐ฅ ๐ค๐ ๐ฉ๐๐ ๐ง๐๐ฅ๐ค๐ง๐ฉ, ๐ง๐๐ฆ๐ช๐๐จ๐ฉ ๐๐ค๐ง ๐จ๐๐ข๐ฅ๐ก๐: https://www.alliedmarketresearch.com/request-sample/8620
The global industrial pumps market size is expected to reach $86.3 billion in 2030 from $55.8 billion in 2020, growing at a CAGR of 4.3% from 2021 to 2030. In 2020, Asia-Pacific dominated the market, in terms of revenue, accounting for 43.10% share of the global industrial pumps market.
The COVID-19 pandemic has negatively affected the industrial pumps market mainly due to the halt in international trade, prolonged lockdowns, and ceased manufacturing processes. In addition, the major end-user manufacturing companies located in countries, such as the U.S., Germany, the UK, and others, are also facing financial impacts due to halt in production, which hindered the growth of the industrial pumps market in 2020.
The global industrial pumps market is segmented into type, position, driving force, end user, and region. By position, the market is categorized into submersible and non-submersible. Non-submersible segment generated the highest revenue in 2020. Depending on driving force, it is segregated into engine-driven and electrical-driven. Electrical driven segment generated the highest revenue in 2020.
On the basis of end user, it is differentiated into oil & gas, chemicals, power generation, water & wastewater, and general industry. General industry segment generated the highest revenue in 2020. On the basis of type, it is differentiated into centrifugal, reciprocating, rotary, and others. Centrifugal segment generated the highest revenue in 2020.
The Significance of the Industrial Pumps Market:
Industrial pumps serve as the heart of many industrial processes, facilitating the movement of liquids, gases, and slurries. They are essential in applications such as manufacturing, agriculture, pharmaceuticals, power generation, and wastewater treatment. Industrial pumps enable the transfer of substances with precision, control, and reliability, ensuring smooth operations across various sectors.
Industrial pumps are the unsung heroes behind numerous industries, providing essential fluid transportation for various processes. From oil and gas to water treatment, industrial pumps play a critical role in ensuring efficient operations and maintaining productivity. In this blog post, we will dive into the industrial pumps market, uncovering its significance, key trends, and providing a free PDF sample for readers interested in gaining deeper insights into this vital industry.
Key Trends in the Industrial Pumps Market:
Technological Advancements: The industrial pumps market is witnessing constant technological advancements to improve efficiency, reliability, and sustainability. Smart pumps with IoT capabilities, energy-efficient designs, and predictive maintenance features are gaining popularity, helping industries optimize their operations and reduce energy consumption.
๐๐๐ ๐ ๐ ๐๐ช๐ง๐๐๐๐จ๐ ๐๐ฃ๐ฆ๐ช๐๐ง๐ฎ: - https://www.alliedmarketresearch.com/purchase-enquiry/8620
Focus on Energy Efficiency: Energy efficiency is a significant concern for industries seeking to reduce operational costs and minimize environmental impact. The demand for energy-efficient pumps, such as variable speed pumps and high-efficiency models, is increasing as companies strive to achieve sustainability goals and comply with stringent regulations.
Digitalization and Remote Monitoring: The integration of digital technologies in industrial pumps is revolutionizing maintenance practices. Remote monitoring, data analytics, and predictive maintenance solutions enable real-time monitoring of pump performance, ensuring optimal operation, minimizing downtime, and improving overall system efficiency.
Rising Demand from Water and Wastewater Treatment: The increasing focus on water conservation and environmental protection is driving the demand for industrial pumps in water and wastewater treatment facilities. Pumps with high flow rates, corrosion resistance, and the ability to handle various liquids are essential for efficient water management and treatment processes.
Growing Industrialization in Developing Economies: Developing economies are experiencing rapid industrialization, leading to increased demand for industrial pumps. Sectors such as oil and gas, chemicals, and mining are driving the growth of the industrial pumps market in these regions.
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The global industrial pumps market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Russia, and the rest of Europe), Asia-Pacific (China, India, Japan, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to hold the largest market share throughout the study period, and is expected to grow at the fastest rate.
The industrial pumps market is a critical component of various industries, enabling efficient fluid transportation and supporting essential processes. As industries strive for energy efficiency, sustainability, and improved productivity, the demand for advanced and reliable industrial pumps continues to grow. Staying informed about the latest trends and technological advancements in the industrial pumps market is crucial for businesses to optimize operations, reduce costs, and ensure smooth production processes.
๐๐ค ๐๐ช๐ง๐๐๐๐จ๐ ๐ฉ๐๐๐จ ๐๐ง๐๐ข๐๐ช๐ข ๐๐๐ฅ๐ค๐ง๐ฉ: - https://www.alliedmarketresearch.com/checkout-final/8f1dd1291089dddd9cea263e30b066ec
More Reports -
Asia & MENA Industrial Refrigeration Market-https://www.einpresswire.com/article/657589109/asia-mena-industrial-refrigeration-market-share-size-growth-industry-trends-and-opportunities-2031
Peristaltic Pumps Market-https://www.einpresswire.com/article/657592356/peristaltic-pumps-market-swot-analysis-key-indicators-share-size-growth-analysis-and-forecast-2031
U.S. Offsite Construction Market-https://www.einpresswire.com/article/657825543/by-2031-u-s-offsite-construction-market-to-reach-usd-90-3-billion
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