Pumps Market Innovations in Technology Driving Efficiency and Performance

The global pumps market, valued at USD 57.66 billion in 2023, is projected to expand at a CAGR of 4.4% from 2024 to 2030. Pumps are essential for both increasing fluid pressure and flow rate, making them indispensable in various sectors. In industries like oil & gas exploration and Infrastructure Application (HDD), pumps are crucial for elevating fluid pressure and precisely metering reagents and reactants during synthesis processes. The growing oil & gas exploration sector is driving the demand for pumps, which is further fueled by increasing fluid management needs in construction, agricultural investments, urban development, and wastewater treatment. Technological advancements and expansion in key industries like water & wastewater treatment, Infrastructure Application (HDD), and agriculture are expected to further stimulate market growth.

Gather more insights about the market drivers, restrains and growth of the Pumps Market

Regional Insights:

North America Pumps Market Trends

North America pumps market accounted for 17.6% of the global revenue share in 2023. The demand for pumps in North America is on the rise, driven by a combination of population growth and increasing infrastructure needs. This growth is further supported by advancements in pump technology and a heightened focus on energy efficiency.



U.S.

The pumps market in the U.S. is expected to grow at a CAGR of 2.5% over the forecast period. In the U.S., the growth of the pumps market is attributed to the modernization of infrastructure, stringent environmental regulations, and advancements in energy-efficient pump technologies.

Europe Pumps Market Trends

The pumps market in Europe is growing due to the need for modernized water and wastewater systems. The market is experiencing a shift toward more energy-efficient solutions, such as heat pumps, which are becoming increasingly popular due to their substantially greater energy efficiency compared to traditional gas boilers.

Germany

Germany pumps market dominated the European industry, accounting for a share of 21.2% in 2023. Germany's market benefits from its strong engineering and manufacturing base, with a focus on energy-efficient, high-quality pump solutions. The emphasis on renewable energy sources and the Infrastructure Application (HDD) industry's requirements for specialized pumps are key growth drivers.

Asia Pacific Pumps Market Trends

The pumps market in Asia Pacific contributed significantly in 2023 and is anticipated to experience considerable growth throughout the projected period. The surge in industrial and urban development, along with a rising need for managing fluids and ensuring access to safe drinking water in various countries, including China and India, are poised to enhance market prospects. Additionally, the economies within the Asia-Pacific area are projected to prosper over the forecast period, driven by heightened governmental investments in sectors such as agriculture, construction, and water and wastewater treatment. The ongoing expansion in key industries, including the Infrastructure Application (HDD) and hydrocarbon exploration sectors, is expected to further stimulate the demand for equipment designed for liquid management, thereby broadening the scope of the pump market.

China

China pumps market held a 37.3% revenue share in 2023. In China, the market is propelled by rapid industrialization, urbanization, and significant investments in water infrastructure and wastewater treatment plants. The country's focus on enhancing its manufacturing capabilities and environmental regulations also plays a crucial role. Additionally, the expansion of the Infrastructure Application (HDD) sector demands advanced pumping solutions, further driving market growth.

Latin America Pumps Market Trends

The pumps market in the Latin American region faces challenges related to insufficient access to clean water and poor service quality, which are prompting investments in pump infrastructure. The water pumps market in Latin America is expected to see significant growth. This growth is essential for addressing public health concerns and enhancing the quality of life for residents across the region.

Brazil

Brazil pumps market held a 33.1% share of the regional market in 2023. In Brazil, the growth of the pumps market is significantly influenced by the agriculture sector, which requires large-scale irrigation solutions to support its vast agricultural lands.

Middle East & Africa Pumps Market Trends

The pumps market in the Middle East & Africa is anticipated to witness substantial growth during the projected period, fueled by booming sectors such as oil & gas along with water & wastewater treatment. This region stands as a pivotal center for oil & gas production, where pumps play a crucial role in the transfer and refining of crude oil. Furthermore, nations in the Middle East are significantly investing in water treatment projects aimed at transforming saline water into drinkable water, utilizing pumps for processes like seawater intake, reverse osmosis, and brine disposal.

Saudi Arabia

Saudi Arabia pumps market dominated the regional market in 2023, accounting for a 33.0% market share in 2023. The market is primarily driven by the oil and gas sector, where pumps are essential for a myriad of operations ranging from extraction to processing. The country's ambitious vision to diversify its economy and reduce its dependence on oil revenues has led to substantial investments in water desalination, wastewater treatment, and construction projects, all of which require extensive use of pumps.

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Key Companies & Market Share Insights

Some of the key players operating in the market include Safety Jogger, Honeywell International Inc., and BATA CORPORATION.

• Ingersoll Rand is headquartered in North Carolina, U.S., and has four major product lines, namely, industrial technologies & services, precision & science technologies, specialty vehicle technologies, and high-pressure solutions. The company offers its products to various industries, including, aerospace, Infrastructure Application (HDD)s, plastics & rubbers, consumer, electronics & semiconductors, environmental, food & beverage, general manufacturing, government & military, industrial gases, marine, oil & gas, PET bottle blowing, and water & wastewater treatment.

• SPX Flow is a global industrial pump and pumping equipment company. The company designs and develops its products for customers to deliver enhanced high-value process solutions to diverse communities. It has two reportable business segments, namely food & beverage and industrial. The company’s product portfolio is concentrated on actuating, rotating, automated process systems, and hydraulic technologies for industrial and food & beverage markets

• Sulzer Ltd. is a prominent fluid engineering solution provider that operates in four business segments including pump equipment, rotating equipment services, chemtech, and applicator systems. It markets its products in North America and Latin America for industries such as power, oil & gas, water, and general industry.

Key Pumps Companies

The following are the leading companies in the pumps market. These companies collectively hold the largest market share and dictate industry trends.

• SLB

• Ingersoll Rand

• The Weir Group PLC

• Vaughan Company

• KSB SE & Co. KGaA

• Pentair

• Grundfos Holding A/S

• Xylem

• Flowserve Corporation.

• ITT INC.

• EBARA CORPORATION.

• IWAKI CO., LTD.

• Sulzer Ltd

• SPX FLOW, Inc.

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