Global Industrial Pumps Business Research Report 2024: Market to Reach US$87.4 Billion by 2030

Industrial Pumps Market

Dublin, May 29, 2024 (GLOBE NEWSWIRE) — The “Industrial Pumps – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offer.

Global industrial pump market to reach US$87.4 billion by 2030

The global Industrial Pumps market estimated at US$62.7 billion in the year 2023, is expected to reach a revised size of US$87.4 billion by 2030, growing at a CAGR of 4.2% during the analysis period 2023- 2030. Centrifugal Pumps, one of the segments analyzed in the report, is expected to register a CAGR of 4.2% and reach US$58 billion by the end of the analysis period. Growth in the Positive Displacement Pumps segment is estimated at 4.6% CAGR for the next 8-year period.

The industrial pump market includes various types such as centrifugal, positive displacement, peristaltic, and submersible pumps, each suitable for different applications such as water and wastewater treatment, oil and gas, and chemical processing. The market is poised for rapid growth, driven by increased demand in these end-use sectors, despite some market deterrents. Centrifugal pumps are expected to continue to be the dominant product category.

The US market is estimated at US$11.3 billion, while China is forecast to grow at 5.8% CAGR

A global economic update and competitive landscape analysis reveals key competitors and their market shares in 2023. The overall market outlook is positive, with regional analysis indicating robust growth prospects across different regions.

The US Industrial Pumps market is estimated to be worth US$11.3 billion by the year 2023. China, the world’s second largest economy, is expected to reach a projected market size of US$22.7 billion by the year 2030 , behind a CAGR of 5.8% throughout the year. analysis period from 2023 to 2030. Other geographic markets of note include Japan and Canada, each forecast to grow 2.5% and 3.4%, respectively, during the 2023-2030 period. In Europe, Germany is forecast to grow at approximately 3.1% CAGR. Led by countries such as Australia, India and South Korea, the market in Asia-Pacific is forecast to be a revised size of US$16.3 billion by 2030.

Attribute Keys:

MARKET OVERVIEW

• A prelude to industrial pumps

• Different types of industrial pumps

• Industrial Pump Applications

• End uses of industrial pumps

• Global Economic Update

• Competitive Landscape

• Industrial Pumps – Percentage Market Share of Main Global Competitors in 2023 (E)

• Global Market Outlook and Prospects

• Global Industrial Pumps Market Poised for Rapid Growth

• Growth engines

• Market Impediments

• Centrifugal pumps will remain dominant product category as demand increases

• Regional Analysis

• Market perspectives

• Recent market activity

The story continues

MARKET TRENDS AND DRIVERS

• Increasing industry focus on water reuse amid looming water crisis benefits demand for industrial pumps

• Water Reuse Applications

• Select statistics that highlight the global water crisis and the need to reuse water

• World Water Resources: Percentage Breakdown by Water Quality

• Rising levels of water contamination drive the need for industrial pumps

• Water and Wastewater Industry: Focus on Infrastructure Development Drives Demand

• Growing need for innovative technologies

• Recovery in the construction industry to increase demand for industrial pumps

• Construction projects planned as a bright spot in 2023

• Construction prospects in the USA

• The push towards digitalization and automation across sectors bodes well for long-term growth

• Rise of Industry 4.0 and Smart Factory require technological adjustments for the industrial pumps market

• Digitalized pumps to drive the industrial pump market to greater heights

• Greater demand for smart pumps

• Select the main smart pumps available on the market

• Expansion in the oil and gas sector bodes well for market growth

• Inflated Oil Prices Boost Global Capital Expenditure

• Growing relevance of industrial pumps in the energy industry

• China and India lead the global increase in electricity demand

• Rising demand in the chemical industry bodes well for market growth

• Urban expansion expands broad opportunities

• Smart City, the New Concept of Urban Infrastructure, to Fuel New Wave of Growth

• Fast flow controllers to change the game for industrial pumps

• Innovative compact pumps to lead the way

• Increased demand for industrial pumps in the textile industry

• Select innovations in the industrial pump industry to drive market expansion

• Switching from gas to electric pumps – a significant trend

• Extremely accurate flow control pumps to enter the market

• On-Demand “Smart Bomb” Apps

• Waste reduction and sustainability

• Chemical Compatibility

• Compact pump footprint

FOCUS ON SELECTED PLAYERS (Total 297 highlighted)

• Baker Hughes Company

• Danfoss AS

• Dover Corporation

• EBARA Corporation

• Flowserve Corporation

• General Electric Company

• Grundfos Holding AS

• ITT Inc.

• KSB SE & Co.

• Ruhrpumpen Group

• Schlumberger Ltd, doing business as SLB

• SPP Bombas Inc.

• SPX Fluxo Corporation

• Sulzer Ltda.

• The Weir Group plc

• Wilo Mather & Platt Pumps Pvt. Ltd

• Xylem Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/2f0z34

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