The Pumps Market size was valued at USD 95.8 Billion in 2023. It is expected to grow to USD 128.25 Billion by 2031 and grow at a CAGR of 3.71% over the forecast period of 2024-2031.
Pumps serve two primary functions elevating fluid pressure or enhancing the fluid transfer rate. In sectors like oil and gas exploration and chemical manufacturing, pumps play a crucial role in boosting fluid pressure and precisely metering reagents and reactants during chemical synthesis. The thriving oil and gas exploration industry are anticipated to drive the demand for pumps in the foreseeable future. Pumps are devices that employ mechanical action to transfer fluids (liquids or gases) and slurries. Pumps are categorized according to their functioning mechanism, although they all operate on the same concept of using energy and moving fluid by mechanical action. Pumps can be operated manually or with the help of electricity Apart from the many industries where pumps are used, such as agriculture, pharmaceuticals, chemicals, and others, the primary application sector that is driving the Pump Market revenue is oil and gas. Pumps are growing more crucial as infrastructure and other key functions such as wastewater treatment and energy generation become more developed. Furthermore, the number of end-user applications has grown in recent years, and the worldwide Pump Market value is expected to grow in tandem with the oil and gas industry's continued rise. Pumps employ kinetic energy, which can originate from wind power, electricity, and a number of other sources, particularly in industries, to move fluid.
To get more information on Pumps Market - Request Free Sample Report
Drivers
Water conservation and wastewater treatment improvements.
Increased industrial activity and infrastructural renovation.
Agricultural Sector Development.
The pump market is significantly influenced by a growing emphasis on water conservation and wastewater treatment. As concerns about water scarcity and environmental sustainability rise, there is an increasing demand for pumps in water and wastewater treatment facilities. These pumps play a crucial role in efficiently managing water resources, treating wastewater for reuse, and ensuring compliance with environmental regulations. Technological Advancements: Advances in pump technologies, including the development of energy-efficient and intelligent pumps, contribute to more effective water conservation practices. Intelligent pump systems with real-time monitoring capabilities enable precise control over water usage and enhance the overall efficiency of water treatment processes. The surge in industrial activity globally fuels the demand for pumps in various sectors, including manufacturing, mining, and energy production. Pumps are integral for fluid handling in industrial processes, such as chemical manufacturing, oil refining, and power generation. The need for reliable and efficient pumps is heightened during periods of increased industrialization.
Restraint
Heavy losses in the agricultural sector were unexpected.
Raw material costs that fluctuate.
The agricultural sector's susceptibility to unforeseen weather events, such as droughts, floods, or extreme temperatures, can lead to unexpected losses. Pumps play a critical role in agricultural irrigation systems, and disruptions in water availability due to adverse weather conditions can impact crop yields and result in financial losses for farmers. The pump market can be influenced by the performance of the agricultural sector. If there are unexpected losses in the agricultural sector due to factors like poor crop yields or damage to crops, it can affect the purchasing power of farmers and, subsequently, their investment in agricultural machinery, including pumps. Fluctuations in the costs of raw materials, such as metals, plastics, and energy, directly impact the manufacturing costs of pumps. The pump market is sensitive to changes in material prices, and significant fluctuations can influence the pricing strategies of pump manufacturers. Unexpected changes in raw material costs may result from supply chain disruptions, geopolitical events, or shifts in global demand. These disruptions can affect the availability and pricing of materials essential for pump manufacturing, potentially leading to challenges for manufacturers in managing production costs and pricing structures.
Opportunities
Increased awareness of the importance of producing energy-efficient goods
Many small pump manufacturers are actively offering excellent alternatives at competitive prices
Growing global awareness of environmental issues, energy conservation, and climate change has prompted increased emphasis on producing energy-efficient goods, including pumps. Governments, industries, and consumers are actively seeking ways to reduce energy consumption and carbon footprints. In response, the pump market has witnessed a shift towards the development and adoption of energy-efficient pump technologies. Regulatory Standards and Certification: Stringent energy efficiency standards and certifications, imposed by regulatory bodies in various regions, have further accelerated the trend towards energy-efficient pump manufacturing. Pump manufacturers are now compelled to comply with these standards, driving innovation in pump design and technology to meet or exceed energy efficiency requirements.
Challenges
Chemical assaults and a constant flow of chemicals via the pumps drastically diminish the pumps' lifetime.
Market participants are not working on new products.
Chemical assaults refer to the exposure of pumps to corrosive substances, which can lead to severe damage over time. Corrosive chemicals can erode pump components, affecting their structural integrity and performance. This is particularly significant in industries such as chemical processing, where pumps are exposed to a variety of aggressive chemicals during fluid handling processes. The statement suggests a lack of innovation or product development efforts within the pump market. This can be detrimental to industry progression, as new products often bring advancements in efficiency, durability, and adaptability to specific challenges. Stagnation in product development may hinder the market's ability to address emerging needs and challenges effectively.
The conflict may disrupt the global supply chain for pump components, affecting manufacturing processes and leading to shortages or delays in pump production. Geopolitical tensions can contribute to fluctuations in energy prices, including oil and gas. As pumps are vital in various energy-related applications, changes in energy costs can impact the operational expenses of pump users. Geopolitical instability can contribute to economic uncertainty, affecting investment decisions and infrastructure projects that may rely on pumps. Uncertain economic conditions may lead to delays or cancellations of projects, impacting the demand for pumps. Changes in currency exchange rates due to geopolitical events can influence the cost of imported pump components and finished products, potentially affecting pricing and competitiveness in the market. The impact on the Pump Market may vary by region. For example, if either Russia or Ukraine is a significant market for pump manufacturers or users, the conflict could directly affect demand in those regions.
During an economic downturn, businesses may cut back on capital expenditures, including investments in new equipment like pumps. Industries that heavily rely on pumps, such as construction, manufacturing, and infrastructure development, may postpone or scale down projects, leading to decreased demand for pumps.
Economic recessions often result in a decline in industrial activity. Industries that use pumps for fluid handling, such as manufacturing and mining, may experience reduced production levels. This can impact the demand for pumps as manufacturers may delay or cancel orders for new equipment. Infrastructure projects, which often involve the use of pumps for tasks like water management, sewage systems, and construction processes, may face delays or cancellations during a recession. Government budgets may be constrained, leading to a slowdown in public infrastructure projects that utilize pumps. Companies facing financial challenges during an economic downturn may find it difficult to invest in new equipment, including pumps. Limited access to credit and a focus on cost-cutting measures may result in a reduced appetite for capital-intensive purchases.
By Type
Centrifugal Pumps
Centrifugal Pumps By Configuration
Single Stage
Multistage
Centrifugal Pumps By Design
Radial Flow Pump
Mixed Flow Pump
Axial Flow Pump
Positive Displacement Pumps
Rotary Pumps By Type
Gear Pumps
Screw Pumps
Vane Pumps
Lobe Pumps
Others
Reciprocating Pumps By Type
Diaphragm Pumps
Piston Pumps
Plunger Pumps
The revenue dominance in 2023 was held by the centrifugal pumps segment, capturing a substantial share of 66.9%. Centrifugal pumps are the preferred choice in applications where the emphasis is on the flow rate rather than the pressure requirements for a specific fluid. Widely utilized in urban water systems, these pumps play a crucial role in delivering clean water to communities, ensuring a consistent and dependable supply of fresh water. Additionally, they contribute significantly to agricultural irrigation, efficiently transporting water from sources to fields and crops.
This category of pumps utilizes reciprocating motion of a piston within a cylinder to transfer fluids. Renowned for their versatility, reliability, and proficiency in handling challenging fluids, positive displacement pumps emerge as a valuable choice across various industries, including water and wastewater treatment, agriculture, and chemical processing.
By End-Use
Agriculture
Water & Wastewater
Construction & Building Services
Oil & Gas
Chemical
Power Generation
Others
The agricultural end-use segment secured the largest share of revenue, accounting for 20.2% in 2023. The prosperity of agriculture hinges on the efficient distribution of water, and pumps play a pivotal role in facilitating this process. They generate the necessary pressure to transport water from sources such as wells, rivers, or reservoirs to fields for irrigation. A key driver of market growth is the pumps' capability to ensure a consistent and ample water supply. Additionally, their capacity to maintain high discharge rates makes them invaluable for sustaining water distribution in arid regions.
The Asia Pacific region commanded the largest revenue share, accounting for 47.2% in 2023, and is poised for significant growth at the swiftest Compound Annual Growth Rate (CAGR) throughout the forecast period. The region's rapid industrialization and urbanization, coupled with an escalating demand for fluid handling and safe drinking water, particularly in countries such as China and India, are key factors expected to amplify market potential. Additionally, sustained economic growth in the Asia Pacific, driven by increased governmental investments in agriculture, construction, and water and wastewater treatment industries, is anticipated. The continuous expansion of end-use sectors like the chemical industry and hydrocarbon exploration is set to drive the demand for liquid handling equipment, contributing to the global market's expansion.
In the Middle East & Africa region, a substantial growth trajectory is predicted with the second-highest CAGR of 4.7% over the forecast period, propelled by thriving industries such as oil & gas and water & wastewater treatment. The Middle East & Africa serves as a major hub for oil & gas production, where pumps play a crucial role in crude oil transfer and refining processes. Furthermore, significant investments in water treatment facilities to convert saline water into potable water have been a focus in Middle Eastern countries. Pumps are extensively used for seawater intake, reverse osmosis, and brine disposal in these facilities.
Pump technology advancements in the Middle East have not only enhanced core process operations but have also increased pump reliability, leading to long-term savings in routine operating procedures. These innovative pumps find applications across various industries, including agriculture, electricity, industrial wastewater, and chemicals, contributing to a sustained demand throughout the forecast period.
.png)
Need any customization research on Pumps Market - Enquiry Now
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
The major key players are Aqua Group, Best Engineers Pumps, Commitment Reliability Innovation (C.R.I), CNP Pumps, Deccan, Duke Plasto Technique, ELLEN, Endura Pumps, Falcon Pumps, Grundfos and Other Players
Best Engineers Pumps-Company Financial Analysis
The pump market is currently witnessing several noteworthy trends that are shaping its trajectory. One significant trend is the increasing demand for water and wastewater treatment plants, driven by a growing awareness of environmental concerns and the need for sustainable water management. As populations rise and urbanization accelerates, the necessity for efficient water treatment processes becomes more pronounced. Another key trend is the surge in infrastructure projects in developing economies. Rapid urbanization and industrialization in these regions are propelling the construction of various infrastructure facilities, including water supply systems, transportation networks, and energy projects, thereby boosting the demand for pumps.
The rise in modular construction projects is also contributing to the dynamics of the pump market. Modular construction methods, which involve assembling pre-fabricated components off-site, are becoming increasingly popular due to their efficiency and cost-effectiveness. Pumps play a crucial role in the fluid management systems of these modular constructions. The demand for energy-efficient pumps is on the rise as industries and consumers increasingly prioritize sustainability and energy conservation. Energy-efficient pumps not only reduce operational costs but also align with global efforts to promote environmentally friendly practices.
In December 2022: EBARA Pumps Europe S.p.A., based in Gambellara, Italy, unveiled its latest in-line pump model 3E/3ES for global markets, excluding Japan. The EBARA Group, with a commitment to advancing efficiency and innovation, will prioritize ongoing product development initiatives.
In March 2023: Gorman Rupp Europe disclosed the introduction of its innovative rental pump platform. This platform, initially launched in February in the Netherlands, aims to streamline and enhance the process of pump rentals, ensuring a "faster, easier, and more reliable" experience. Notably, the platform features a sophisticated 10-step pump picker tool designed to recommend the most suitable pump for specific project requirements.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 95.8 Billion |
| Market Size by 2031 | US$ 128.25 Billion |
| CAGR | CAGR 3.71% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments |
• By Type (Centrifugal Pumps, Positive Displacement Pumps) • By End-use (Agriculture, Water & Wastewater, Construction & Building Services, Oil & Gas, Chemical, Power Generation, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Aqua Group, Best Engineers Pumps, Commitment Reliability Innovation (C.R.I), CNP Pumps, Deccan, Duke Plasto Technique, ELLEN, Endura Pumps, Falcon Pumps, and Grundfos. |
| Key Drivers |
• Water conservation and wastewater treatment improvements. • Increased industrial activity and infrastructural renovation. • Agricultural Sector Development. |
| Restraints | •Heavy losses in the agricultural sector were unexpected. •Raw material costs that fluctuate. |
Ans: - Pumps Market Size was valued at USD 95.8 Bn in 2023.
Ans: - Following are major driving factor for pumps market
.
Ans: - 2 segments of the Pumps Market.
Ans: - The major key players are Aqua Group, Best Engineers Pumps, Commitment Reliability Innovation (C.R.I), CNP Pumps, Deccan, Duke Plasto Technique, ELLEN, Endura Pumps, Falcon Pumps, and Grundfos.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Pumps Market Segmentation, by Type
8.1 Portable
8.2 Stationary
9. Pumps Market Segmentation, by Position
9.1 Submersible
9.2 Non-submersible
10. Pumps Market Segmentation, by Driving Force
10.1Engine-Driven
10.2Electric-Driven
11. Pumps Market Segmentation, by Technology
11.1 Dynamic Pumps
11.1.1 Centrifugal
11.1.2 Others
11.2 Positive Displacement Pump
11.2.1 Rotary
11.2.2 Gear
11.2.3 Vane
11.2.4 Screw
11.2.5 Others
11.3 Reciprocating
11.3.1 Diaphragm
11.3.2 Piston/Plunger
12. Pumps Market Segmentation, by End-user
12.1 Mining
12.2 Building & construction
12.3 Oil & Gas
12.4 General industries
12.5 Water & wastewater treatment
12.6 Chemicals
12.7 Power generation
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 Aqua Group
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Best Engineers Pumps
14.3 Commitment Reliability Innovation (C.R.I)
14.4 CNP Pumps
14.5 Deccan
14.6 Duke Plasto Technique
14.7 ELLEN
14.8 Endura Pumps
14.9 Falcon Pumps
14.10 Grundfos
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Industrial Vacuum Cleaner Market size was estimated at USD 681 million in 2022 and is expected to reach USD 995 million by 2030 at a CAGR of 4.86% during the forecast period of 2023-2030.
The Irrigation Automation Market size was valued at USD 4.17 Billion in 2022 and is expected to grow to USD 15.01 Billion By 2030 and grow at a CAGR of 17.37% over the forecast period of 2023-2030.
The Drilling Jars Market Size was valued at USD 1.08 billion in 2022 and is supposed to arrive at USD 2.17 billion by 2030 and develop at a CAGR of 9.15% over the forecast period 2023-2030.
The Fertilizer Spreader Market size was estimated at USD 763.39 million in 2023 and is expected to reach USD 1154.79 million by 2031 at a CAGR of 5.31% during the forecast period of 2024-2031.
The Total Organic Carbon (TOC) Analyzer Market size was valued at USD 1.21 Bn in 2022 and is expected to reach USD 2.04 Bn by 2030 and grow at a CAGR of 6.71% over the forecast period 2023-2030.
The Packaged Water Treatment System Market Size was valued at USD 28.66 Bn in 2023 and is expected to reach USD 66.53 Bn by 2031 and grow at a CAGR of 10.89% over the forecast period 2024-2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
