Press release
Global Industrial Pumps Market Sees Significant Growth Amid Expanding Wastewater Treatment Facilities and Oil & Gas Exploration
Industrial Pumps Market
Key Market Drivers:
Expansion of Wastewater Treatment Facilities: The expansion of wastewater treatment facilities is anticipated to drive the increased utilization of industrial pumps. These pumps are essential for managing viscous fluids, ensuring efficient operations in water treatment plants.
Oil & Gas Sector Growth: Investments in exploration and production operations by oil and gas corporations worldwide are expected to boost the demand for industrial pumps. These pumps are utilized for transporting oil through pipelines and extracting oil from the earth. Infrastructure enhancements, including the installation of new pipes, are anticipated to positively influence market growth.
Government Investments in Clean Water: In February 2024, the U.S. government announced a USD 6.0 billion allocation towards clean drinking water and wastewater infrastructure. Environmental legislation, such as the Clean Water Act (CWA) and the Safe Drinking Water Act (SDWA), is expected to stimulate the establishment of new water treatment facilities, promoting the use of industrial pumps in the U.S.
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Market Trends:
Rising Adoption of Solar Pumps: The increasing adoption of solar pumps is a significant trend in the market. These pumps are gaining traction due to operational interruptions caused by electrical supply deficiencies, particularly in Asia Pacific nations like India and Bangladesh. Solar pumps provide a cost-efficient and environmentally sustainable option for agricultural irrigation systems and water treatment facilities, enhancing the overall industrial pump market.
Market Challenges:
Volatility in Raw Material Prices: Fluctuations in raw material prices pose a challenge to market growth. Industrial pumps, especially centrifugal pumps, predominantly use stainless steel, iron, bronze, and copper. Instability in raw material prices can affect manufacturing costs, impacting smaller enterprises more significantly. Efficient cost management and securing a solid supply chain are crucial for market actors to address these challenges and sustain competitiveness.
Segment Insights:
Centrifugal Pumps: The centrifugal pump category led the market in 2023, driven by the demand for effective water and wastewater management systems. Technological advancements and automation in pump design have significantly improved operational efficiency, making centrifugal pumps a preferred choice in industries such as construction, agriculture, and industry.
Positive Displacement Pumps: Positive displacement pumps, known for their efficiency with high-viscosity liquids, maintain a uniform flow rate irrespective of viscosity variations. These pumps are suitable for applications involving viscous or adhesive substances and are expected to propel market expansion. Positive displacement pumps are also capable of producing elevated pressures, making them ideal for various industrial applications.
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Recent Developments:
KSB SE & Co. KGaA Acquisition: In March 2023, KSB SE & Co. KGaA acquired technology from Bharat Pumps and Compressors (BP&CL). This acquisition allows KSB SE & Co. KGaA to broaden its product range in both the new pump and aftermarket sectors.
KSB Limited Technology Purchase: In March 2023, KSB Limited purchased proprietary technology from Bharat Pumps and Compressors Ltd., securing exclusive ownership and rights to BP&CL's product line technology. This strategic initiative enables KSB Limited to capitalize on its strengths and market opportunities, expanding its product range in both new pump systems and aftermarket sectors.
The industrial pumps market is poised for significant growth, driven by the expansion of wastewater treatment facilities, investments in the oil and gas sector, and the rising adoption of solar pumps. While challenges such as raw material price volatility exist, efficient cost management and technological advancements are expected to drive market expansion in the coming years.
Industrial Pumps Top Companies and Competitive Landscape
The Industrial Pumps Market is growing due to increasing demand in sectors such as oil and gas, water treatment, chemicals, and manufacturing. These pumps are essential for fluid management applications, spanning from basic water circulation to intricate chemical operations. Prominent entities like ITT Inc., Sulzer, Xylem, and Flowserve lead the industry, providing an array of pumps, including centrifugal, diaphragm, and screw variants.
Competition is propelled by innovations in energy-efficient designs, intelligent pumps with IoT integration, and tailored solutions to address specific industry requirements. Market expansion is driven by infrastructure enhancement, industrial automation, and a rising need for sustainable, high-performance solutions.
In January 2024, SPX FLOW's Waukesha Cherry-Burrell brand introduced the Universal 2 ND Positive Displacement Pump (U2 ND) Series for industrial applications. This new series aims to enhance reliability and performance in industrial applications beyond the capabilities of conventional pump types such as industrial gear, lobe, or progressive cavity pumps.
The U2 ND series is anticipated to considerably enhance the WCB pump portfolio and offer superior solutions for industrial pump needs. The forthcoming product introduction is expected to enhance the company's market share.
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Some of the key companies in the global Industrial Pumps market include:
Grundfos Holding A/S
Ingersoll-Rand
Flowserve Corporation
Sulzer Ltd.
Pentair
ITT, INC.
Schlumberger Limited
EBARA International Corporation
The Weir Group PLC.
Industrial Pumps Latest Industry Updates
In March 2023, KSB SE & Co. KGaA announced the acquisition of technologies from Bharat Pumps and Compressors Limited (BP&CL), a significant producer of centrifugal and reciprocating pumps. Following this technology acquisition, KSB SE & Co. KGaA is poised to broaden its product range in both the new pump and aftermarket sectors.
In April 2023, Iwaki America, Inc. announced the introduction of their new line of chemical pumps engineered for application in diverse corrosive conditions.
Industrial Pumps Market Segmentation Analysis
Product Type Outlook (Revenue, USD Billion; 2020-2033)
Centrifugal Pump
Axial Flow Pump
Radial Flow Pump
Mixed Flow Pump
Positive Displacement Pump
Reciprocating
Rotary
Others
Application Outlook (Revenue, USD Billion; 2020-2033)
Oil & Gas
Chemicals
Construction
Power Generation
Water & Wastewater Treatment
Others
Regional Outlook (Revenue, USD Billion; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Browse More Report By Emergen Research:
Industrial Pumps Market Size @ https://www.emergenresearch.com/industry-report/industrial-pumps-market/market-size
Industrial Pumps Market Share @ https://www.emergenresearch.com/industry-report/industrial-pumps-market/market-share
Industrial Pumps Market Trends @ https://www.emergenresearch.com/industry-report/industrial-pumps-market/market-trends
Industrial Pumps Regional Market Demand @ https://www.emergenresearch.com/industry-report/industrial-pumps-market/regional-market-demand
Industrial Pumps Market Analysis @ https://www.emergenresearch.com/industry-report/industrial-pumps-market/market-analysis
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