Industrial Pumps Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Overview:

An industrial pump is a device used to transfer fluids (gases or liquids), or sometimes semi-liquid mixture by mechanical action. Pumps operate through multiple energy sources including electricity, engine, wind, or even manually using reciprocating or rotary mechanism. The global market for industrial pumps is relatively matured and is expected to witness steady growth during the forecast period 2021 - 2029. The growth is expected to be spurred by increased infrastructural development leading to increased construction spending, and investments made in waste water treatment and recycling projects by the concerned authorities across the globe. These factors are expected to contribute towards a CAGR of 5.2% during the forecast period 2021 - 2029.

This report analyzes the global industrial pumps market in terms of product type, end-use application, and geography. Based on product type, the global industrial pumps market is segregated into centrifugal pumps, positive displacement pumps, and specialty pumps. Similarly, on the basis of end-use application, the global market for industrial pumps is further classified into oil and gas, chemicals, building, residential construction, utilities (water and wastewater), and food and beverage among others. The geographical distribution of the global industrial pumps market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Purpose of the Report

The purpose of this strategic research study titled “Industrial Pumps Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 - 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the industrial pumps market.

The report titled “Global Industrial Pumps Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 - 2029” offers strategic insights into the global industrial pumps market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on product type, application, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading industrial pump manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments. Other in-depth analysis provided in the report includes:

• An overview of the global industrial pumps market
• Current and future market trends to justify the forthcoming attractive sub-markets within the industrial pumps market
• Qualitative assessment tools such as market drivers, challenges and future prospects, value chain, and attractive investment proposition.
• Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics.
• A general overview of the industry structure
• Company profiles highlighting key information about the major players operating in the global industrial pumps market
• Market competition scrutiny tools such as market share analysis, fractal map, etc.
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global industrial pumps market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.

Based on product type, the global industrial pumps market is segmented into following categories

• Centrifugal Pumps
• Positive Displacement Pumps
• Specialty Pumps

As of 2020, centrifugal pumps represented the largest product segment in the global industrial pumps market. It is presumed that centrifugal pumps would continue their dominance throughout the forecast period on account of low maintenance cost, durability, and their ability to effectively handle wide-ranging pressure and loads. Their ability to handle fluids with high solid content makes them the preferred product variant amongst end-users. In addition, infrastructural development, especially in emerging economies like India and China is expected to trigger both fresh and replacement demand for centrifugal pumps. On the other hand, positive displacement pumps are presumed to witness maximum adoption, offering healthy growth and investment opportunities during the forecast period 2021 - 2029. The anticipated growth in demand for positive displacement pumps can be majorly credited to increasing process manufacturing activities, especially in chemicals and food and beverage sector

On the basis of end-use application, the global industrial pumps market is categorized into following segments:

• Oil and Gas
• Chemical
• Building
• Residential Construction
• Utilities (Water and Wastewater)
• Others (Food and Beverage, etc.)

As of 2020, the oil and gas end-use segment led the global industrial pumps market. The segment accounted for around 25% of the global market revenue share in the same year. The trend shall prolong and the segment is poised to exhibit sturdy growth during the forecast period 2021 - 2029. Growing energy demand coupled with increased production of oil and gas from subsea sources is expected to trigger demand for large and expensive pumps. On the other hand, demand for pumps for water and waste water treatment is expected to witness an upsurge. The demand for pumps for water and wastewater treatment is growing due to a rise in population, infrastructural development, and manufacturing activities. In addition, stringent regulations imposed for brushing vessel stack emissions and ballast water treatment is expected to drive demand for industrial pumps in the utilities segment.

On the basis of geography, the global market for industrial pumps is segmented into following regions and countries.

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia Pacific
• Japan
• China
• India
• Rest of Asia Pacific
• Rest of the World
• Latin America
• Middle East
• Africa

In base year 2020, Asia Pacific led the industrial pumps market in terms of both revenue and unit shipments. The region accounts for over 35% of the global demand for industrial pumps and is expected to register robust growth in the coming years, retaining its dominant position through 2029. The anticipated growth in demand for industrial pumps can be credited to the growing industrialization in major countries including India, China, and South Korea. Infrastructure development resulting in increased construction spending and investments in water and wastewater treatment is also expected to propel demand for industrial pumps in the region. The developed economies like North America and Europe are expected to witness sluggish growth with maximum demand coming from the replacement of existing pumps and parts.


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