The global Industrial Pumps market is forecast to reach USD 95.09 Billion by 2030, according to a new report by Reports and Data. Industrial pumps find their application in various sectors and help in mainly transferring liquids from one location to another.
Technological trends like the introduction of magnetic drive pumps, intelligent pump systems, and next-generation industrial automation are boosting the growth of this market. Rapid infrastructural development is another driving factor. APAC countries are witnessing rapid construction which in turn is boosting the market for industrial pumps. Demand for industrial pumps from process and manufacturing industries is a significant driving factor. The rise in product energy pumps for the transportation and extraction of oil and natural gas is having a positive effect on the market. Increase in crude oil price is also boosting the demand for the market as it fuels the energy sector’s revenue.
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Top Players in the Global Industrial Pumps Market:
Flowserve Corporation, Grundfos Holding A/S, Titan Manufacturing Inc., ITT INC., Sulzer Ltd., Ebara Corporation, The Weir Group PLC, Schlumberger Limited, Baker Hughes Company, Celeros Flow Technology, Atlas Copco AB, and KSB SE Co. KGaA.
Further key findings from the report suggest
- The operation of an intelligent motor-pump system in an integrated, coordinated manner can achieve unprecedented and important capabilities for protecting critical processes, process equipment, operations personnel, and the environment. This system also provides a basis for dynamic optimization of critical operating and financial objectives such as long MTBF, low life-cycle cost, or low cost per gallon pumped. Future intelligent systems will provide the basis for next generation CBM systems, future distributed intelligent systems, and autonomous, agent-based systems. These emerging trends are driving increasing automation in the industry
- Centrifugal pumps holds a major share of the Pump Type segment and are expected to maintain this leading position in the Industrial Pump industry during the forecast period
- Water and wastewater treatment plants have a very large market share in the End Use segment. Increase in desalination efforts and regulations curtailing the dumping of industrial wastes will enhance the demand for industrial pumps in this sector
- The construction sector is forecasted to have a high CAGR of 6.1% throughout the forecasted period. The construction boom being seen in the APAC region is pushing the demand for industrial pumps from this sector
- Oil and Gas occupy a significant market share and is forecasted to generate high revenues for the industrial pump market
- Growth in process manufacturing activity will result in an increase in demand for positive displacement pumps
- With the increase in manufacturing and processing activities, demand for aftermarket parts will see an upswing, majorly for the chemical industry as they have harsh operating environments for workers, where industrial pumps are used extensively
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Market segmentation based on Type Outlook:
- Centrifugal pumps
- Reciprocating pumps
- Rotary pumps
- Diaphragm pumps
Capacity Outlook:
- Small capacity pumps
- Medium capacity pumps
- High capacity pumps
End-Use Outlook:
- Construction
- Water and wastewater
- Chemicals
- Oil Gas
- Power Generation
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Industrial Pumps market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Industrial Pumps market?
- Which regional market is expected to lead in terms of revenue share in the global Industrial Pumps market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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