Press release
Future Perspective: Key Trends Shaping the Industrial Pumps Market Until 2030
Industrial Pumps Market
Projected Growth Trajectory of the Industrial Pumps Market Size by 2030
The industrial pumps market is anticipated to grow steadily, reaching a value of $109.8 billion by 2030. This expansion corresponds to a compound annual growth rate (CAGR) of 4.8%. Several factors contribute to this positive outlook, including the urgent need for water scarcity management, broader implementation of industrial automation, stricter energy efficiency regulations, and growth within the chemical processing sector. Additionally, the rise of digital maintenance solutions supports market development. Key trends expected to influence the market over the forecast period include increasing demand for energy-efficient pump systems, expansion of water and wastewater infrastructure, adoption of smart pump monitoring technologies, growth in oil and gas applications, and wider use in general industrial processing.
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Prominent Industry Leaders Driving the Industrial Pumps Market
The industrial pumps market features several major companies actively shaping its direction. Leading players include Schlumberger Limited, Baker Hughes Company, Atlas Copco, Xylem Inc., Regal Beloit Corporation, 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.
In January 2024, Atlas Copco, a Sweden-based manufacturer specializing in industrial tools, pumps, and equipment, announced its acquisition of the Germany-based industrial pump manufacturer Kracht GmbH for an undisclosed amount. This strategic move aims to strengthen Atlas Copco's portfolio within the industrial pumps segment and broaden its market presence.
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Emerging Innovations in the Industrial Pumps Market
Leading companies in the industrial pumps sector are focusing on developing cutting-edge products that leverage advanced technologies to improve reliability and efficiency. One notable innovation is the submersible recirculation pump, designed to operate fully submerged while continuously circulating fluid within a closed system. For example, in January 2023, Sulzer, a Swiss industrial engineering and manufacturing company, introduced an enhanced version of its XRCP submersible recirculation pump. This new line boasts a 20% improvement in hydraulic efficiency due to design upgrades. Additional enhancements include better motor efficiency, improved dependability, and optional condition monitoring features. These pumps are widely used in applications such as recirculating activated sludge in denitrification processes.
Key Market Segments Shaping Industrial Pumps Industry Growth
The industrial pumps market is broadly categorized into several important segments:
- By Product: Centrifugal Pumps and Positive Displacement Pumps
- By Position: Submersible and Non-Submersible Pumps
- By Driving Force: Engine-Driven and Electrical-Driven Pumps
- By Application: Oil and Gas, Chemicals, Construction, Power Generation, Water and Wastewater, and Other Applications
Further breakdowns include:
- Centrifugal Pumps: End Suction Pumps, Vertical Turbine Pumps, and Axial Flow Pumps
- Positive Displacement Pumps: Gear Pumps, Diaphragm Pumps, Piston Pumps, and Peristaltic Pumps
These segments highlight the diversity of pump types and applications that collectively drive the market's ongoing development.
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