Press release
Industrial Pumps Rental Market Set to Reach USD 10.5 Billion by 2034, Driven by Infrastructure Growth and Smart Technologies
Industrial Pumps Rental Market
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Centrifugal pumps are expected to remain the largest product segment, projected to reach USD 5.5 billion by 2034, thanks to their extensive use in construction, water treatment, and chemical industries. Meanwhile, positive displacement pumps are forecasted to be the fastest-growing segment, driven by increased oil and gas activity, with a CAGR of 7.2%.
The construction industry leads in application, projected to grow from USD 2.5 billion in 2024 to USD 4.5 billion by 2034. This is due to rising infrastructure projects and urban development in emerging economies. The oil and gas sector is poised for the fastest growth, at 7.5% CAGR, as exploration activities ramp up globally.
From an end-user perspective, the industrial sector dominates the market, expected to hit USD 5.5 billion by 2034, thanks to broad use in construction, chemical processing, and energy sectors. The commercial sector, however, is growing fastest, with a 7.1% CAGR, boosted by demand for water and HVAC systems in commercial buildings.
By technology, IoT-enabled pumps are leading the way with projected growth to USD 4 billion by 2034. These smart pumps offer real-time monitoring and predictive maintenance, helping reduce downtime and save costs. Energy-efficient pumps are growing even faster, at a 7.5% CAGR, as companies seek to meet environmental standards and reduce energy costs.
In terms of distribution, direct rentals remain the primary channel, offering better customer service and tailored solutions. However, third-party rental services are catching up quickly, thanks to their flexibility and broader equipment access.
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Regional Highlights
North America is currently the largest market, but Asia Pacific is expected to grow the fastest, led by rapid industrialization and infrastructure investments in countries like China and India.
Market Trends
The market is seeing strong interest in smart technologies. IoT integration is becoming standard, helping companies cut operating costs by up to 15%. At the same time, energy-saving pump designs are gaining popularity, with industry-wide savings projected at USD 1.2 trillion by 2030, according to the International Energy Agency.
Challenges Ahead
Despite strong growth, the market faces hurdles. These include high operational costs, a shortage of skilled technicians, and complex safety and environmental regulations. Smaller firms, in particular, may struggle with maintenance and compliance expenses.
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Industrial Pumps Rental Competitive Strategies & Notable Developments
Xylem Inc.: Revenue of USD 5.25 billion, North America, Core Product: Water Solutions. Market Position: Leading player with a focus on smart water technologies.
United Rentals: Revenue of USD 9.35 billion, North America, Core Product: Equipment Rental. Market Position: Dominant player with a comprehensive rental fleet.
Sunbelt Rentals: Revenue of USD 7.5 billion, North America, Core Product: Equipment Rental. Market Position: Strong presence with a focus on customer service and support.
Aggreko plc: Revenue of USD 2.3 billion, Europe, Core Product: Power and Temperature Control Solutions. Market Position: Leading provider of temporary power and temperature control solutions.
Atlas Copco: Revenue of USD 11.5 billion, Europe, Core Product: Industrial Tools and Equipment. Market Position: Strong focus on energy-efficient and smart technologies.
Kirloskar Brothers Limited: Revenue of USD 0.75 billion, Asia Pacific, Core Product: Pumps and Valves. Market Position: Leading player in the Indian market with a focus on sustainable solutions.
Tsurumi Manufacturing Co., Ltd.: Revenue of USD 0.5 billion, Asia Pacific, Core Product: Pumps. Market Position: Strong presence in the Japanese market with a focus on quality and reliability.
Sulzer Ltd.: Revenue of USD 3.5 billion, Europe, Core Product: Pumping Solutions. Market Position: Leading provider of innovative pumping solutions.
Grundfos: Revenue of USD 4.5 billion, Europe, Core Product: Pumps and Water Solutions. Market Position: Strong focus on energy-efficient and sustainable solutions.
Saudi Pump Factory: Revenue of USD 0.3 billion, Middle East, Core Product: Pumps. Market Position: Leading player in the Middle East with a focus on quality and reliability.
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Industrial Pumps Rental Market Segmentation
By Product Type
Centrifugal Pumps
Positive Displacement Pumps
Submersible Pumps
Specialty Pumps
By Application
Construction
Oil and Gas
Water Treatment
Mining
Chemical Processing
By End User
Industrial
Commercial
Municipal
By Technology
IoT-Enabled Pumps
Energy-Efficient Pumps
Conventional Pumps
By Distribution Channel
Direct Rental
Third-Party Rental Services
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