Pumps Market Analysis

Global Pumps Market Overview:

Pumps Market Size was valued at USD 50.15 billion in 2023. The pumps market industry is projected to grow from USD 52.51 Billion in 2024 to USD 75.82 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.7% during the forecast period (2024 - 2032). The building and construction and the food and beverage industries, are expanding quickly, which is a major market driver for the pumps business.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Pumps Market Trends

Growing need for water and wastewater treatment facilities to boost market growth

Over two-thirds of people on earth reside in regions with a water shortage for at least one month per year. The majority of those who experience this level of water scarcity reside in China and India. As a result, the demand for wastewater treatment is anticipated to increase water usage efficiency and supply water to the municipal and industrial sectors. 

The United Nations University Institute of Water, Environment and Health estimates that high-income nations will treat around 74% of the industrial and municipal wastewater they produce in 2020, compared to 43% for upper-middle-income nations and about 26% for lower-middle-income nations. The need for water treatment facilities, and consequently, pumps in water treatment facilities, is anticipated to rise in emerging countries due to rising environmental awareness and a growing water deficit. 

The initial problem of a large initial expenditure has been lessened by the modular design of wastewater treatment plants, allowing an affordable alternative. Therefore, it is anticipated that demand for pumps will rise throughout the projection period due to growing worries about the environmental effects of wastewater and water scarcity, strict government restrictions, and lowering costs of water treatment plants.

Furthermore, infrastructure improvements and increased industrial activity have contributed to the pumps market's expansion. The need for pumps has surged, particularly as the chemical industries worldwide have expanded quickly. The use of pumps in chemical transfer systems has expanded due to recent developments in corrosion-resistant pumps. Chemicals like sulfuric acid and sodium hydrochloride can be transported easily with the aid of these pumps. 

The development of the pumps market in recent years has also been assisted by unique inventions such as leak detection pressure switches that guarantee safety during chemical activities. Therefore, this factor has enhanced the pumps market CAGR globally in recent years.

Additionally, several emerging nations, like India, are aggressively seeking international alliances to access overseas markets. India, in particular, is promoting technical advancement and upgrading its small-scale enterprises to enter high-tech industries like aerospace and defense by providing financial support. 

Furthermore, a lot of little-known pumps producers are actively offering prices for high-quality substitutes to the pricey pumps on the market. In recent years, these purchases and initiatives have raised the market value of pumps.

However, energy-efficient items are more valuable in Europe, Asia, and North America. In order to produce energy-efficient products across all industries, the governments of those nations have also implemented strict government rules. The Indian government has provided information on using solar water pumps for subsidized electricity. 

The installation of irrigation facilities has been encouraged by such nationwide announcements to farmers and agriculturalists. Thus, driving the growth of the pumps market revenue.

Pumps Market Segment Insights:

Pumps Type Insights

The Pumps Market segmentation, based on type, includes positive displacement and dynamic. The positive displacement segment held the majority share in 2021 in respect to the Pumps Market revenue. Their effective low-speed operation and constant flow rates are responsible for this. Additionally, the positive displacement pumps' demand in the oil and gas industry is anticipated to support segment growth.

Figure 2: Pumps Market, by Type, 2021 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Pumps End-Users Insights

The Pumps Market segmentation, based on end-users, includes oil & gas, water & wastewater, power generation, chemicals, pharmaceuticals, food & beverage and others. The water & wastewater segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. 

The growing need for pumps stations in wastewater treatment facilities where gravity flow is impractical, combined with high flow rate deliverability and high transmission velocity, is projected to accelerate market expansion. Hence, it positively impacts the market growth.

On the other hand, the oil & gas category maintained a sizable share during the forecasted time. Shale gas is expected to be used more frequently in the manufacturing and energy sectors. There will be a rise in shale gas exploration operations due to technological developments like horizontal and hydraulic drilling.

Pumps Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America pumps market accounted for USD 20.1 billion in 2021 and is expected to exhibit a significant CAGR growth. The industrial and commercial construction markets in North America are experiencing a major uptick in building activity, and this activity is expected to continue growing. Additionally, it is anticipated that increased installation of independent power plants and technology advancements will fuel product demand in North America during the course of the forecast period.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Pumps Market Share By Region 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia Pacific pumps market accounts for the second-largest market share. Due to the Asia Pacific region's growing economies' quick industrialization and rising investment in manufacturing, commercial, and industrial projects, the regional market has grown overall. 

Additionally, it is projected that greater product penetration in a variety of end-use industries, such as petrochemical and agriculture, will support market expansion. Further, the China pumps market held the largest market share, and the India pumps market was the fastest growing market in the European region

Europe America pumps Market is expected to grow at the fastest CAGR from 2022 to 2030. Over the projected period, it is anticipated that increasing offshore exploration and production operations in Europe will boost demand for pumps. The demand for water treatment in the municipal and industrial sectors is predicted to rise significantly as a result of strict laws meant to prevent residential water pollution. Moreover, Germany pumps market held the largest market share, and the UK pumps market was the fastest growing market in the North American region.

Pumps Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the pumps market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the pumps industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global pumps industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, pumps industry has provided medicine with some of the most significant benefits. 

The pumps market major player such as Rundfos (Denmark), Sulzer (Switzerland), Flowserve (US), ITT Corporation (US), Danfoss (Denmark), Ingersoll-Rand (Ireland), The Weir Group (UK), Ebara Corp (Japan), KSB (Germany), Schlumberger (US), Nikkiso Co Ltd (Japan), Wilo AG (Germany) and Roper Industries (US).

A international engineering firm with its Scottish headquarters in Glasgow is called The Weir Group plc. As an engineering firm, the business was founded in 1871. In February 2020, three Lewis pumps were introduced by Weir Mineral: the Horizontal Process Pump, Axial Pump, and Vertical High-Pressure Molten Salt Pump. 

Due to fluctuating raw material prices, broken supply chains, and bad cash flows, several manufacturers were forced to incur losses as a result of the epidemic. This increased the rate of industry mergers and acquisitions, with players like Ingersoll Rand and Grundfos leading the way.

Manufacturing firm situated in Tokyo, Japan called Ebara Corporation produces industrial and environmental machinery such pumps and turbines. In 2018, Ebara Corporation merged Ebara Indstrias Mecânicas e Comércio Ltda (EIMCO) with its fully-owned manufacturer, Thebe Bombas Hidráulicas Ltda, to create "Ebara Bombas América do Sul Ltda" (EBAS).

Key Companies in the pumps market includes

• Grundfos (Denmark)


• Sulzer (Switzerland)


• Flowserve (US)


• ITT Corporation (US)


• Danfoss (Denmark)


• Ingersoll-Rand (Ireland)


• The Weir Group (UK)


• Ebara Corp (Japan)


• KSB (Germany)


• Schlumberger (US)


• Nikkiso Co Ltd (Japan)


• Wilo AG (Germany)


• Roper Industries (US)

Pumps Industry Developments

June 2021:The Jabsco rotary lobe pump product line was purchased from Xylem by the Verder Group, a Dutch firm that produces and distributes pumps and laboratory equipment. Verder's group offering in the pharmaceutical and food & beverage markets is anticipated to improve as a result of the acquisition.

April 2021:For a cash payment of USD 470 million, IDEX Corporation reached a definitive agreement to buy investment funds managed by EagleTree Capital's Airtech Group Inc., US Valve Corporation, and affiliated entities. Positive displacement vacuum pumps, regenerative blowers, compressor systems, and valves are just a few of the engineered pressure technology products that Airtech makes and designs.

May 2024

Rheinmetall's plug-and-play heat pump system has received two new orders, extending its electromobility business into new markets. The first order is a high-single-digit million euro deal from an international electric bus conversion specialist, while the second is from a German off-road electric vehicle expert.

After launching the heat pump module for electrifying drive systems in commercial vehicles, construction machines, and boats, these two new orders reflect the Group's marketing and positioning strategy's next step. The clever cooling and heating control of the heat pump pre-filled with R1234yf optimizes vehicle range, battery life, and driving comfort. Customers are receiving heat pumps with a five-year warranty for the first order and a seven-year warranty for the second.

A thorough examination of the base vehicle and operator operating cycles is underway by the first client to convert conventional buses to electric drives. Modeling and simulating a conceptual powertrain starts with this. The drive compartment is extensively scanned for CAD and digitized to create an engine compartment-specific electrical e-drive platform after removing the diesel unit and all related components.

Series manufacture of the second new customer's off-road electric vehicle has begun. The creators, who have competed in off-road racing like the Dakar Rally, have created a modular mining vehicle that can be used globally, even in impoverished nations. The customer's basic vehicle design prioritizes material recyclability and degradability for sustainable manufacture and a circular life cycle. 

The heat pump optimizes vehicle battery temperature regulation for a 72.5 kWh lithium iron phosphate (LFP) battery. The system voltage may be adjusted to 850 V (HV3) if needed from 450 V (HV2). Design's maximum cooling capacity is 8 kW.

Due to the increasingly complicated thermal management of current electric cars, regardless of application, the number of coolant and refrigerant circuit components and connections is expanding quickly. Rheinmetall's innovative energy recovery system's compact form saves installation space. For 400- and 800-volt applications, the system solution provides 8 kW nominal cooling capacity and 11 kW heating power.

Pumps Market Segmentation

Pumps Type Outlook (USD Billion, 2018-2030)

• Positive Displacement


• Dynamic

Pumps End-User Outlook (USD Billion, 2018-2030)

• Oil & Gas


• Water & Wastewater


• Power Generation


• Chemicals


• Pharmaceutical


• Food & Beverage


• Others

Pumps Regional Outlook (USD Billion, 2018-2030)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America