Pumps Market Revenue Growth, Business Insights, Analysis, Demand, Forecast By 2030

Pumps Market Overview:

Pumps Market is projected to grow from USD 47.9 Billion in 2022 to USD 66.1 billion by 2030, with a thriving CAGR of 4.70% during forecast period 2022-2030 with growing investments in water & wastewater and infrastructure industry.

Industrial pumps are captious to modulating the flow of the liquids, gases, and slurries that comprise the lifeblood of process industries like oil and gas, chemicals, and water and wastewater management.

The design of industrial pumps is as different from their end-market applications and depends on complicated operational requirements, including corrosion, abrasion, viscosity, temperature, and purity specifications. Standardized applications, like residential water pumps, are well served by commoditized equipment that's constructed to stock. At the same time, more demanding usage cases in high-temperature or pungent environments constantly need build or design-to-order specialty solutions.

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Expanding investment in upgrading infrastructure and other necessary activities alike as wastewater treatment, and power generation make the Pumps enormously imperative. Also, the number of end-user applications has been augmented in recent years; the worldwide Pumps market value is anticipated to resonate with the incremental growth of the oil and gas industry.

Several developing nations like India actively seek international tie-ups to enter foreign markets. Especially India is advancing technological development and upgrading its small-scale industries to enter high-tech areas like aerospace and defense through fund support.

As the demand for freshwater is apace expanding with the growing population, industrialization, and urbanization, the Pumps Market growth is also boosting. Besides, governments of developing nations have started to concentrate on developing the modern irrigation system this factor has amped the Pumps Market growth in recent years.

Key Players:

Grundfos (Denmark)

Sulzer (Switzerland)

Flowserve (US)

ITT Corporation (US)

Danfoss (Denmark)

Ingersoll-Rand (Ireland)

The Weir Group (UK)

Ebara Corp (Japan)

KSB (Germany)

Schlumberger (US)

Nikkiso Co Ltd (Japan)

Wilo AG (Germany)

Roper Industries (US)

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Market Segmentation:

The global Pumps Market is segmented into the following types;

By Type (Positive Displacement and Dynamic)

By End-User (Oil & Gas, Water & Wastewater, Power Generation, Chemicals, Pharmaceutical, Food & Beverage and Others)

By Region (North America, Europe, Asia-Pacific, And Rest Of The World)

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Regional Analysis:

The global Pumps Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Rapid infrastructural development has encouraged the growth of the Pump industry in the US. The country's rail system is moving over 40% of the nation's goods and requires more than USD 30 Billion in the coming years.

Asia - Pacific is actively concerned with developing their nations and was esteemed for about 46% in 2019 and is anticipated to hold a larger market in the forecast period. The advent of infrastructural development schemes has increased the water treatment activities, construction sector, and power generation exertion in the countries like China, and India.

The Government of Europe has imposed strict laws and regulations to minimize water pollution in the nations. The EU Water Framework Directive published its framework that supports the activities that guard inland surface water, transitional waters, coastal waters, and groundwater.

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