Press release
Future Perspective: Key Factors Influencing the Industrial Pumps Market Until 2029
Industrial Pumps Market
Steady Growth Forecast for the Industrial Pumps Market Size Until 2029
The industrial pumps market is projected to reach a value of $104.52 billion by 2029, growing at a compound annual growth rate (CAGR) of 4.7%. This upward trajectory is driven by factors such as the increasing adoption of IoT technologies to optimize pump performance, expanding market presence in developing regions, broader applications within the oil and gas sector, a growing role of pumps in renewable energy projects, and rising demand for pumps used in industrial processing. Key trends shaping this growth phase include Industry 4.0 integration, initiatives aimed at improving energy efficiency, strategic partnerships, the advancement of smart pump technologies, and the rise of customization and modular pump designs.
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Top Companies Leading the Industrial Pumps Market Today
The industrial pumps market features several prominent players, including 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, and CRI Pumps Pvt. Ltd.
Significant Acquisition by Atlas Copco Boosting Its Industrial Pumps Portfolio
In January 2024, Sweden-based industrial tools and equipment manufacturer Atlas Copco acquired Kracht GmbH, a German company specializing in industrial pump solutions, for an undisclosed sum. This strategic purchase aims to strengthen Atlas Copco's industrial pump segment, enhancing its portfolio and broadening its reach across various industries where industrial pumps play a vital role.
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Innovations Driving Industrial Pumps Market Growth
Product innovation is becoming a major trend within the industrial pumps market as companies focus on developing advanced technological solutions to maintain competitive advantage. For example, in March 2022, Vogelsang GmbH & Co. KG from Germany introduced highly efficient rotary lobe pumps designed specifically for demanding environments and sustained high-pressure operations, particularly in the oil and gas industry. These pumps stand out in the market due to their robust gearbox supporting a constant pressure output of 18 bar and the ability to tolerate temperatures as high as 200° C.
How the Industrial Pumps Market Is Structured
This report segments the industrial pumps market according to mounting type, technology, and end-user categories. Mounting types include ground, rooftop, and floating systems. Technology classifications cover concentrated solar power and photovoltaic solutions. End-user groups span residential, commercial, and industrial sectors. Further subcategories break down mounting types into fixed tilt ground mount, single-axis tracking ground mount, and dual-axis tracking ground mount; residential, commercial, and industrial rooftops; and fixed floating and tracking floating solar systems.
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