Press release
Product innovation is a key trend gaining popularity in the industrial pumps market. Major companies operating in the industrial pumps market are focused on developing new technological solutions to strengthen their position
Industrial Pumps Market Size
The escalation in construction endeavors is anticipated to boost the progression of the industrial pumps market. The term "construction activities" refers to the operations related to the setup and assembly involved in land-disturbing movements to establish structures and infrastructure. Industrial pumps are utilized in construction to eliminate excess water buildup at the site due to heavy rainfall or high water tables, thus an escalation in construction works will stimulate the market. For instance, in June 2023, Construction Digital, a UK-based firm linking all construction brands, reported that the UK construction sector is expected to see a 12% growth in 2024, with a subsequent 3% rise in 2025. Consequently, the surge in construction activities is fuelling the expansion of the industrial pumps market.
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What Is the projected market size and growth rate for the industrial pumps market?
The scale of the industrial pumps market has been expanding consistently over the past few years. The market growth is projected to increase from $85.48 billion in 2024 to an estimated $88.93 billion in 2025, achieving a compound annual growth rate (CAGR) of 4.0%. Factors that contributed to the growth in the historic phase include the rise of hygiene and food safety standards, the expansion of agricultural and irrigation activities, urban development and robust construction activities, along with the expansion of the chemical and petrochemical sector.
In the coming years, the industrial pumps market is anticipated to experience substantial growth. It is predicted to escalate to a market size of $108.86 billion in 2029, with a compound annual growth rate (CAGR) of 5.2%. The surge during the forecast period can be ascribed to the adoption of Internet of Things (IoT) for the optimization of pump performance, growth of the market in emerging regions, proliferation of pump applications in oil and gas, the increasing significance of pumps in the renewable energy sector, and the rising demand for industrial processing pumps. Key trends during this period include the integration of industry 4.0, energy-efficiency movements, strategic alliances, innovative smart pump technologies, and the emphasis on customization and modular designs.
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What new trends are reshaping the industrial pumps market and its opportunities?
The surge in product innovation is a noteworthy trend in the industrial pumps market. Several prominent companies in this market are striving to introduce new technological solutions to consolidate their standing. For example, Vogelsang GmbH & Co. KG, a German company known for its expertly manufactured equipment, in March 2022, debuted its highly efficient rotary lobe pumps. These products, uniquely tailored for extreme environments and consistent high-pressure operation, are ideal for use in the oil and gas industry. The market hasn't seen any pumps like this before - they come with a rugged gearbox capable of maintaining a pressure output of 18 bar and can tolerate temperatures of up to 200° C.
What major market segments define the scope and growth of the industrial pumps market?
The industrial pumps market covered in this report is segmented -
1) By Product: Centrifugal Pump, Positive Displacement Pump, Other Products
2) By Position: Submersible, Non-Submersible
3) By Driving Force: Engine Driven, Electrical Driven
4) By Application: Oil And Gas, Chemicals, Construction, Power Generation, Water And Wastewater, Other Applications
Subsegments:
1) By Centrifugal Pump: End Suction Pumps, Vertical Turbine Pumps, Submersible Pumps, Axial Flow Pumps
2) By Positive Displacement Pump: Gear Pumps, Diaphragm Pumps, Piston Pumps, Peristaltic Pumps
3) By Other Products: Screw Pumps, Progressive Cavity Pumps, Hydraulic Pumps
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Which region dominates the industrial pumps market?
Asia-Pacific was the largest region in the industrial pumps market in 2024, and is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the industrial pumps industry growth?
Major companies operating in 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.
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What Is Covered In The Industrial Pumps Global Market Report?
•Market Size Forecast: Examine the industrial pumps market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the industrial pumps market for a structured understanding.
•Key Players Overview: Analyze major players in the industrial pumps market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the industrial pumps market.
•Segment Contributions: Evaluate how different segments drive overall growth in the industrial pumps market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the industrial pumps market.
•Industry Challenges: Identify potential risks and obstacles affecting the industrial pumps market.
•Competitive Landscape: Review strategic developments in the industrial pumps market, including expansions, agreements, and new product launches.
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