Sump Pumps Market Report 2024

This Sump Pumps market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The sump pumps market size has grown rapidly in recent years. It will grow from $12.72 billion in 2023 to $14.17 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth observed during the historic period can be attributed to increased residential construction, rising urbanization leading to more sump pump installations, higher frequency of heavy rainfall and flooding events, stricter building codes and regulations for flood management driving sump pump use, and growing interest in home improvement and renovations boosting sump pump sales.

The sump pumps market size is expected to see rapid growth in the next few years. It will grow to $21.91 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The anticipated growth during the forecast period can be attributed to the rising adoption of smart home systems, the replacement and upgrading of aging water management infrastructure, continued population growth, increased focus on climate adaptation and disaster preparedness, supportive government initiatives, and funding for flood control and water management projects. Key trends in this period include the integration of smart technology, the use of advanced and durable materials to enhance the longevity and performance of sump pumps, customized solutions, wireless and app-based control, and technological convergence.

The growth of the construction industry is anticipated to drive the expansion of the sump pumps market. The construction industry includes all activities related to building, infrastructure, and industrial projects, covering planning, design, financing, and construction. This sector is expanding due to factors such as increased urbanization, rising demand for residential and commercial spaces, and government investments in infrastructure development. Sump pumps play a crucial role in this industry by managing groundwater and preventing flooding at excavation sites and newly constructed buildings. For example, data from the Office for National Statistics in February 2023 revealed that annual construction output grew by 5.6% in 2022 compared to 2021, following a significant 12.8% increase the previous year. Consequently, the growth of the construction industry is fueling the demand for sump pumps.

Leading companies in the sump pumps market are focusing on developing advanced technologies to enhance pump efficiency, durability, and automation. Sump pump technology involves the systems and mechanisms designed to remove accumulated water from basements, crawl spaces, or flood-prone areas. For example, in February 2023, Delta Membrane Systems Limited, a UK-based provider of specialized structural waterproofing solutions, launched the 695 Groundwater Sump Pump Chamber. This innovative chamber improves water management for both ground and surface water collection and is compatible with Delta's Dual V3, V4, and V6 pump stations, offering versatility for various drainage needs. This development represents a significant leap in sump pump technology, suitable for both residential and commercial use.

In May 2022, Pedrollo Group, an Italy-based manufacturer of electric water pumps, acquired Superior Pump for an undisclosed sum. This acquisition enhances Pedrollo's presence in North America by leveraging Superior's established market position and broadening Pedrollo's product range, all while maintaining a strong focus on innovation, quality, and social responsibility. Superior Pump, a US-based company, specializes in providing water pumps for both residential and commercial applications, including sump pumps.

Major companies operating in the sump pumps market are Baker Hughes Company, Dover Corporation, Xylem Inc., Metso Corporation, Ebara Corporation, Grundfos Pumps Private Limited, Liberty Pumps Inc., Pentair plc, Flowserve Corporation, Sulzer Ltd, The Weir Group PLC, ITT Goulds Pumps, KSB SE, Leo Group Co Ltd, WILO SE, Franklin Electric Co. Inc., Tsurumi Manufacturing Co. Ltd., Shijiazhuang Industrial Pump Factory Co. Ltd., Zoeller Pump Company Llc., Excellence Pump Industry Co. Ltd., Glentronics Inc., Ridgid Tool.

North America was the largest region in the sump pumps market in 2023. The regions covered in the sump pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the sump pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A sump pump is a device used to remove excess water that collects in a sump pit, usually located in basements or crawl spaces. It helps prevent flooding and water damage by pumping the water out of the pit and away from the building's foundation. Sump pumps are especially useful in areas with heavy rainfall or high groundwater levels.

The main types of sump pumps include submersible sump pumps, pedestal sump pumps, and other variations. Submersible sump pumps are designed to operate underwater and are commonly used to remove water from basements or crawl spaces to prevent flooding. Sump pumps can be categorized by capacity into low, medium, and high, and by power rating into below 1 HP, 1-5 HP, 5-15 HP, and above 15 HP. They are sold through direct and distribution channels. Applications of sump pumps span across industries such as mining and minerals, construction, metallurgy and chemicals, pulp and paper, power generation, and others.

The sump pumps market research report is one of a series of new reports that provides sump pumps market statistics, including sump pumps industry global market size, regional shares, competitors with a sump pumps market share, detailed sump pumps market segments, market trends and opportunities, and any further data you may need to thrive in the sump pumps industry. This sump pumps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The sump pumps market consists of sales of pumps, pedestal pumps, battery backup systems, water-powered sump pumps, dehumidifiers, pump risers, check valves, float switches, alarm systems, and pump discharge hoses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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