Press release
Surge In Construction Activities Fuels Expansion Of Industrial Pumps Market Globally: Powering Innovation and Expansion in the Industrial Pumps Market by 2025
Industrial Pumps
What Is the Expected CAGR for the Industrial Pumps Market Through 2025?
There has been a slight increase in the size of the industrial pumps market in recent years. The market, which was valued at $85.48 billion in 2024, is estimated to reach $87.1 billion in 2025, showing a compound annual growth rate (CAGR) of 1.9%. Factors contributing to this growth during the historical period include the development of hygiene and food safety standards, the growth of the agriculture and irrigation industry, increased urbanization and construction, and the expansion of the chemical and petrochemical sector.
What's the Projected Size of the Global Industrial Pumps Market by 2029?
In the coming years, the industrial pumps market is projected to witness a consistent expansion, reaching a value of $104.52 billion by 2029 with a 4.7% compound annual growth rate (CAGR). The anticipated growth within this period can be attributed to various factors such as the adoption of IoT for pump performance enhancement, market growth in emerging areas, extensive use of pumps in the oil and gas sector, and the increased role of pumps in renewable energy. There is also an increased demand for industrial processing pumps. Noteworthy trends expected during this forecast period include the integration of industry 4.0, initiatives towards energy efficiency, strategic collaborations, innovation in smart pump technologies, as well as customization and modular designs.
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Top Growth Drivers in the Industrial Pumps Industry: What's Accelerating the Market?
With the anticipation of growth in construction activities, the market for industrial pumps is also expected to expand. When we talk about construction activities, we are referring to assembling and installation operations related to land-disturbing tasks for the purpose of infrastructure and structural development. Industrial pumps play a crucial role in construction, as they help to eliminate excess water from the site, a common issue following rainfall or due to high water tables. Hence, any boom in the construction sector will have a direct, positive impact on the industrial pump market. An example of this anticipated growth was presented by Construction Digital, a UK firm that links various construction companies, stating in June 2023 that the UK construction sector is predicted to see a growth of 12% in the year 2024, with an additional 3% growth projected for 2025. Therefore, the industrial pump market stands to benefit significantly from this anticipated surge in construction activities.
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What Are the Key Trends Driving Industrial Pumps Market Growth?
The primary trend observed in the industrial pumps market is product innovation. To solidify their market positioning, major firms in the industrial pumps sector are focusing on the creation of new technological solutions. For instance, Vogelsang GmbH & Co. KG, a highly sophisticated equipment manufacturer, developer and distributor based in Germany, introduced new highly efficient rotary lobe pumps in March 2022. These pumps, uniquely engineered for extreme conditions and constant high-pressure performance, are suitable for oil and gas industry applications. These unique pumps feature a robust gearbox that maintains a continuous pressure output of 18 bar and a temperature tolerance of up to 200°C.
What Are the Main Segments in the Industrial Pumps Market?
The industrial pumpsmarket 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 Top Companies are Driving Growth in the Industrial Pumps Market?
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.
Which Regions Will Dominate the Industrial Pumps Market Through 2029?
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.
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