Industrial Pumps Market growing at a CAGR of 4.5% from 2024 to 2030

Request Free Sample Report: https://www.grandviewresearch.com/industry-analysis/industrial-pumps-market/request/rs1

Growth in population, urbanization, and manufacturing activities are leading to increasing wastewater generation. In water & wastewater treatment facilities, the pumps are used to move the wastewater from lower to higher elevations to allow continuous and cost-effective water treatment. Industrial pumps are ideal for handling highly viscous fluids with constant flow rate in wastewater treatment facilities. Hence, the growth of wastewater treatment facilities is expected to lead to the adoption of industrial pumps over the foreseeable period. Moreover, increasing investments in exploration & production activities by oil & gas companies across the globe are anticipated to boost the demand for industrial pumps in the oil & gas industry. Industrial pumps are used to move oil through a pipeline or pump oil from the ground. Rising infrastructural upgrades, in terms of changing or installation of new pipelines, are expected to have a positive impact on the market growth.

Growing investments by the federal government and adoption of stringent regulations to strengthen the supply of clean water are driving the industrial pumps market in the U.S. In February 2024, the U.S. government announced its plan to invest USD 6.0 billion in clean drinking water & wastewater infrastructure. Additionally, environmental acts established by the U.S. government, such as the Clean Water Act (CWA) and Safe Drinking Water Act (SDWA), have been implemented to govern water regulations in the country. Such regulations are expected to increase the commencement of new water treatment plants, thereby driving the adoption of industrial pumps in the country.

Moreover, ongoing technological innovations in industrial pumps are propelling market expansion. Technologically advanced industrial pumps improve the productivity and capability of various end-use industries, such as chemical, oil & gas, and pharmaceutical. For instance, artificial intelligence-based pump monitoring technology is driving the market. This new intelligent pump monitoring technology continuously collects data from pump operations, as well as evaluates and analyses the data, which acts as a barrier against sudden pump failure.

Market Concentration Characteristics

The industrial pump industry is at a medium growth stage with an accelerating pace of growth, characterized by high degree of competition, owing to various cost-efficient technologies adopted by industry players for manufacturing industrial pumps. Furthermore, emerging economies witnessed rapid growth in end-use industries, such as oil processing and water & wastewater treatment, thereby driving the competition between industry players to design and manufacture technologically advanced & cost-effective pumps. The industrial pump industry is fragmented and characterized by a high degree of product innovation, which results in the development of high-quality industrial pumps.

Key industry players, such as KSB SE & Co. KGaA and Xylem, are dominating the industry by launching new products and entering into new segments. In November 2023, Xylem launched an e-80SCXL vertical in-line centrifugal pump, which is equipped with a modular pump condition monitoring system. This system analyses the pump temperature & vibrations and recommends predictive maintenance before the pump fails. Key industry players adopted strategies like acquisitions and regional expansion. Strategic acquisitions can assist players to increase their industry penetration by entering new segments and expanding their customer base.

Product Type Insights

The centrifugal pump segment dominated the market by holding 67.4% market share in 2023. These pumps are used to control and regulate the direction of gases, vapors, liquids, and other fluids. Due to the low maintenance requirement and ability to achieve higher fluid flow rates, these products are widely utilized in several applications, including water supply, food & beverage, pharmaceutical, and chemical industries. Furthermore, these pumps are used in power generation facilities to transfer the coolant. Hence, with rising demand for electricity and power, the demand for industrial pumps is also likely to grow over the forecast period.

The positive displacement pump segment is anticipated to witness the highest growth over the forecast period, as reciprocating pumps are used in precision dosing and high-pressure output applications. The investment in specialized reciprocating pumps is increasing, due to their requirement in the complex refining process, which involves high temperatures and high-pressure operations. Moreover, these pumps can handle viscous and abrasive fluids more effectively as compared to centrifugal pumps.

Application Insights

The water & wastewater treatment segment dominated the market in 2023, owing to increasing demand for water treatment facilities to manage the wastewater being generated and overcome the growing water scarcity in municipalities across the globe. Centrifugal pumps are used to transfer water over longer distances. Additionally, positive displacement pumps can handle a variety of sludges found in wastewater. With the growing urbanization, the demand for wastewater treatment is growing, which is likely to drive the demand for industrial pumps.

The chemicals segment is likely to witness the highest growth over the forecast period. Industrial pumps are extensively utilized in the chemicals industry, due to their ability to handle a wide range of chemical fluids with different pH levels, maintain precise control over fluid discharge rates, and operate reliably under various pressure conditions. Positive displacement pumps are used to inject the catalyst with accurate quantity and synthesize quality compounds in the chemical processing industry. Centrifugal pumps are used to transfer different acidic, corrosive, highly viscous, volatile, and hazardous chemicals from one point to another.

Industrial Pumps Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 45.56 billion
Revenue forecast in 2030	USD 59.95 billion
Growth rate	CAGR of 4.7% from 2024 to 2030
Historical data	2018 – 2023
Forecast period	2024 – 2030
Quantitative units	Revenue in USD million/billion and CAGR from 2024 to 2030
Report coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
Segments covered	Product, application, region
Regional scope	North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scope	U.S.; Canada; Mexico; Germany; France; Italy; UK; China; Japan; India; Brazil; Argentina; Saudi Arabia; UAE
Key companies profiled	Grundfos Holding A/S, Xylem; Ingersoll-Rand; Flowserve Corporation; SPX Flow; KSB SE &Co. KGaA; Sulzer Ltd.; Pentair; Iwaki Co. Ltd.; ITT, INC.; Schlumberger Limited; EBARA International Corporation; The Weir Group PLC; Vaughan Company; HERMETIC-Pumpen GmbH
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options