Press release
Global Industrial Pumps Market: Promising Growth and Trends Propelling Market to $108.86 billion by 2029
Industrial Pumps Market Size
The global market size for industrial pumps has witnessed steady growth in recent years. Some key figures include:
•Market Size for 2024: $85.48 billion
•Forecasted Market Size for 2025: $88.93 billion (4.0% CAGR)
•Expected Market Size for 2029: $108.86 billion (5.2% CAGR)
The growth in the period leading up to 2024 can be attributed to the emergence of hygiene and food safety standards, expansion of agriculture and irrigation, urbanization and construction boom, and growth in the chemical and petrochemical sector. The strong expected growth in the future can be credited to the adoption of IoT for pump performance optimization, market expansion in developing regions, expansion of pump applications in oil and gas, an increasing role of pumps in renewable energy, and rise in demand for industrial processing pumps.
What Is Driving The Growth In The Industrial Pumps Market?
The impetus for the ongoing growth in the industrial pumps market is derived from an increase in construction activities. The installation and assembling activities associated with the development of infrastructure and structures are referred to as construction activities. Industrial pumps, instrumental in removing excess water accumulated due to high water tables or heavy rain at construction sites, will find their demand skyrocket with an increase in construction activities. For instance, Construction Digital, a UK-based company, reported a projected growth of 12% in the UK construction industry in 2024, with a further increase of 3% in 2025. The prospective rise in construction activities drives the growth of the industrial pumps market.
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Who Are the Key Players Driving Industrial Pumps Market Growth?
Significant contributors to the industrial pumps market include:
•Schlumberger Limited
•Baker Hughes Company
•Atlas Copco
•Xylem Inc.
•Regal Beloit Corporation
•Worthington Industries
•Alfa Laval AB
•EBARA International Corporation
•Pentair PLC.
•Idex Corporation
•Grundfos Holding A/S
•The Weir Group PLC.
•Sulzer Ltd
•ITT Inc.
•KSB SE &Co. KGaA
•Wilo SE
•SPX Flow Inc.
•Nikkiso Co. Ltd.
•Kirloskar Brothers Limited
•Flowserve Corporation
•Gorman-Rupp Company
•Tsurumi Manufacturing Co. Ltd.
•Sundyne LLC
•Iwaki Co. Ltd.
•HMS Group
•PumpWorks Inc.
•LEWA GmbH
•ClydeUnion Pumps
•Vertiflo Pump Company
•PPI Pumps Pvt. Ltd.
•Hayward Tyler Group Ltd.
•Parker Hannifin Corporation
•SPP Pumps Limited
•CRI Pumps Pvt. Ltd.
What Are The Key Trends In The Industrial Pumps Market?
Key trends influencing the industrial pumps market are:
•Industry 4.0 integration
•Energy efficiency initiatives
•Strategic partnership
•Smart pump technologies
•Customization and modular designs
What Are The Segments Of The Global Industrial Pumps Market?
The industrial pumps market is segmented as follows:
1) By Product: Centrifugal Pump, Positive Displacement Pump, and Other Products
2) By Position: Submersible and Non-Submersible
3) By Driving Force: Engine Driven and Electrical Driven
4) By Application: Oil And Gas, Chemicals, Construction, Power Generation, Water And Wastewater, and Other Applications
Which Region Leads The Industrial Pumps Market?
Asia-Pacific held the largest share of the industrial pumps market in 2024 and is expected to be the fastest-growing region. The industrial pumps market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Industrial Pumps Market Global Market Report?
- Market Size Analysis: Analyze the Industrial Pumps Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Industrial Pumps Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Industrial Pumps Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Industrial Pumps Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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