According to this report, the global pumps market size reached approximately USD 73.90 billion in 2024. Aided by the increasing demand for efficient fluid handling systems in various sectors such as water treatment, oil and gas, and manufacturing, the market is projected to grow at a CAGR of 3.0% between 2025 and 2034, reaching a value of around USD 97.08 billion by 2034.
Pumps are mechanical devices used to move fluids, including liquids, gases, and slurries, from one place to another. They are essential in a wide range of applications, from household water supply to industrial processes and wastewater management. The market is experiencing steady growth driven by rising infrastructure development, increasing urbanisation, and the growing need for water and energy efficiency. The use of pumps in vital sectors such as oil and gas, chemicals, and agriculture is propelling the pumps market growth.
The increasing focus on sustainability and energy efficiency is playing a key role in driving innovation within the pump sector. With growing environmental concerns, manufacturers are developing energy-efficient pumps that reduce energy consumption while maintaining optimal performance. Additionally, technological advancements such as smart pumps with remote monitoring and automation capabilities are gaining traction across various sectors.
The water and wastewater treatment sector is one of the primary drivers of the market. With the increasing global population, urbanisation, and the growing awareness of the importance of clean water and sanitation, there is a rising demand for efficient water management systems. Pumps are crucial in these systems, ensuring the continuous movement of water for treatment, distribution, and waste management. The rising focus on water conservation and the increasing investment in water infrastructure are expected to further fuel the demand for pumps in the coming years, consequently driving up the pumps market share.
The oil and gas sector is another significant driver of the market. Pumps are essential in various stages of oil extraction, refining, and distribution, facilitating the efficient transport of crude oil, natural gas, and petroleum products. As the global demand for energy continues to rise, the oil and gas sector is expanding its operations, leading to increased demand for high-performance pumps capable of handling extreme conditions and ensuring operational efficiency.
The industrial sector, including manufacturing, chemicals, and pharmaceuticals, also plays a crucial role in driving the market. In industrial applications, pumps are used for fluid transfer, cooling systems, and chemical processing. The growing need for automation and precision in manufacturing processes is leading to the adoption of advanced pump technologies, such as positive displacement pumps and centrifugal pumps, which offer higher efficiency and reliability.
One of the notable pumps market trends is the rising trend of sustainability. With rising environmental concerns and stringent regulations aimed at reducing energy consumption and carbon emissions, multiple sectors are seeking energy-efficient solutions that minimise their environmental impact. Manufacturers are responding to this demand by developing energy-efficient pumps that comply with global energy standards. These pumps offer improved performance while consuming less power, making them an attractive choice for sectors seeking to reduce operational costs and enhance sustainability.
Additionally, in the agricultural sector, pumps are used for irrigation, drainage, and water management. The growing need for efficient irrigation systems to support agricultural productivity is driving the demand for pumps, particularly in regions with limited water resources. Solar-powered pumps are gaining popularity in the agriculture sector due to their energy efficiency and ability to operate in remote areas with limited access to electricity.
As per the pumps market analysis, the adoption of smart pumps and digital technologies is another major trend in the market. Smart pumps, equipped with sensors, remote monitoring capabilities, and automation features, enable real-time monitoring and control of pump operations. These systems help optimise pump performance, reduce downtime, and improve energy efficiency. The integration of the Internet of Things (IoT) and data analytics is further enhancing the capabilities of smart pumps, allowing multiple sectors to implement predictive maintenance and improve overall operational efficiency.
Pumps are mechanical devices used to move fluids, including liquids, gases, and slurries, from one place to another. They are essential in a wide range of applications, from household water supply to industrial processes and wastewater management. The market is experiencing steady growth driven by rising infrastructure development, increasing urbanisation, and the growing need for water and energy efficiency. The use of pumps in vital sectors such as oil and gas, chemicals, and agriculture is propelling the pumps market growth.
The increasing focus on sustainability and energy efficiency is playing a key role in driving innovation within the pump sector. With growing environmental concerns, manufacturers are developing energy-efficient pumps that reduce energy consumption while maintaining optimal performance. Additionally, technological advancements such as smart pumps with remote monitoring and automation capabilities are gaining traction across various sectors.
The water and wastewater treatment sector is one of the primary drivers of the market. With the increasing global population, urbanisation, and the growing awareness of the importance of clean water and sanitation, there is a rising demand for efficient water management systems. Pumps are crucial in these systems, ensuring the continuous movement of water for treatment, distribution, and waste management. The rising focus on water conservation and the increasing investment in water infrastructure are expected to further fuel the demand for pumps in the coming years, consequently driving up the pumps market share.
The oil and gas sector is another significant driver of the market. Pumps are essential in various stages of oil extraction, refining, and distribution, facilitating the efficient transport of crude oil, natural gas, and petroleum products. As the global demand for energy continues to rise, the oil and gas sector is expanding its operations, leading to increased demand for high-performance pumps capable of handling extreme conditions and ensuring operational efficiency.
The industrial sector, including manufacturing, chemicals, and pharmaceuticals, also plays a crucial role in driving the market. In industrial applications, pumps are used for fluid transfer, cooling systems, and chemical processing. The growing need for automation and precision in manufacturing processes is leading to the adoption of advanced pump technologies, such as positive displacement pumps and centrifugal pumps, which offer higher efficiency and reliability.
One of the notable pumps market trends is the rising trend of sustainability. With rising environmental concerns and stringent regulations aimed at reducing energy consumption and carbon emissions, multiple sectors are seeking energy-efficient solutions that minimise their environmental impact. Manufacturers are responding to this demand by developing energy-efficient pumps that comply with global energy standards. These pumps offer improved performance while consuming less power, making them an attractive choice for sectors seeking to reduce operational costs and enhance sustainability.
Additionally, in the agricultural sector, pumps are used for irrigation, drainage, and water management. The growing need for efficient irrigation systems to support agricultural productivity is driving the demand for pumps, particularly in regions with limited water resources. Solar-powered pumps are gaining popularity in the agriculture sector due to their energy efficiency and ability to operate in remote areas with limited access to electricity.
As per the pumps market analysis, the adoption of smart pumps and digital technologies is another major trend in the market. Smart pumps, equipped with sensors, remote monitoring capabilities, and automation features, enable real-time monitoring and control of pump operations. These systems help optimise pump performance, reduce downtime, and improve energy efficiency. The integration of the Internet of Things (IoT) and data analytics is further enhancing the capabilities of smart pumps, allowing multiple sectors to implement predictive maintenance and improve overall operational efficiency.
Market Segmentation
The global pumps market can be divided based on type, end use, and region.Market Breakup by Type
- Centrifugal Pumps
- Positive Displacement Pumps
Market Breakup by End Use
- Oil and Gas
- Water and Wastewater
- Chemicals and Petrochemicals
- Mining Industry
- Power Generation
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global pumps market. Some of the major players explored in the report are as follows:- Flowserve Corporation
- Grundfos Holding A/S
- KSB Limited
- ITT Inc.
- Sulzer AG
- Ebara Corporation
- The Weir Group PLC
- Schlumberger Limited
- Baker Hughes Company
- Dover Corporation
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Pumps Market Analysis
6 North America Pumps Market Analysis
7 Europe Pumps Market Analysis
8 Asia Pacific Pumps Market Analysis
9 Latin America Pumps Market Analysis
1 Middle East and Africa Pumps Market Analysis
11 Market Dynamics
12 Trade Data Analysis (HS Code - 84135, 84137)
13 Competitive Landscape
Companies Mentioned
- Flowserve Corporation
- Grundfos Holding A/S
- KSB Limited
- ITT Inc.
- Sulzer AG
- Ebara Corporation
- The Weir Group PLC
- Schlumberger Limited
- Baker Hughes Company
- Dover Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 190 |
| Published | February 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 74.4 Billion |
| Forecasted Market Value ( USD | $ 97.08 Billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
