DUBLIN, Dec. 14, 2023 /PRNewswire/ — The “Industrial Pumps – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Industrial Pumps Market to Reach $87.4 Billion by 2030
The global market for Industrial Pumps estimated at US$59.8 Billion in the year 2022, is projected to reach a revised size of US$87.4 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.
This report begins with an introductory overview of industrial pumps, providing readers with a foundational understanding of this critical equipment. It then proceeds to discuss the various types of industrial pumps, offering insights into their classifications and functionalities. Additionally, the report explores the wide-ranging applications of industrial pumps across various industries and their crucial role in enabling various processes.
Centrifugal, one of the segments analyzed in the report, is projected to record a 4.8% CAGR and reach US$58 Billion by the end of the analysis period. Growth in the Positive Displacement segment is estimated at 5.3% CAGR for the next 8-year period.
Furthermore, it delves into the end-uses of industrial pumps, showcasing their importance in sectors such as manufacturing, oil and gas, water treatment, and more. The competitive landscape of the industrial pumps market is analyzed, with a focus on the global key competitors’ percentage market share in 2023. The competitive market presence of players worldwide is also examined, categorizing them as strong, active, niche, or trivial.
The report then provides an outlook on the global industrial pumps market, emphasizing its potential for rapid growth. It identifies key growth drivers propelling the market forward, as well as market deterrents that may pose challenges. Within the product category, centrifugal pumps are projected to remain dominant as demand continues to surge.
The U.S. Market is Estimated at $10.9 Billion, While China is Forecast to Grow at 6.6% CAGR
A regional analysis offers insights into the market outlook across different geographical areas. Recent market activity is also highlighted, providing readers with a glimpse of noteworthy developments and trends in the industrial pumps industry. In conclusion, this report equips industry stakeholders with a comprehensive view of the industrial pumps landscape, enabling them to navigate the market effectively and make informed decisions.
The Industrial Pumps market in the U.S. is estimated at US$10.9 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$22.7 Billion by the year 2030 trailing a CAGR of 6.6% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$16.3 Billion by the year 2030.
MARKET TRENDS & DRIVERS
- Growing Industry Focus on Water Reuse Amid Looming Water Crisis Benefits Demand for Industrial Pumps
- Applications of Water Reuse
- Select Stats Highlighting World Water Crisis and Need for Water Reuse
- World Water Resources: Percentage Breakdown by Water Quality
- Increasing Levels of Water Contamination Drive the Need for Industrial Pumps
- Water & Wastewater Industry: Focus on Infrastructure Development Drives Demand
- Growing Need for Innovative Technologies
- Recovery in the Construction Industry to Boost Demand for Industrial Pumps
- Global Construction Spending (in US$ Trillion) for the Years 2020-2028
- Planned Construction Projects as Bright Spot in 2023
- US Construction Outlook
- United States Housing Units Starts: 2015-2021 (Housing Units in Thousands)
- Thrust Towards Digitalization and Automation across Industries Augurs Well for Long-Term Growth
- Global Industrial Automation Market (In US$ Billion) for the Years 2021, 2023, 2025 & 2027
- Rise of Industry 4.0 & Smart Factory Mandates Technology Adjustments to Industrial Pumps Market
- Global Industry 4.0 Market Size (in US$ Billion) for the Years 2021, 2024 and 2027
- Digitalized Pumps to Drive the Industrial Pumps Market to Greater Heights
- Heightened Demand for Smart Pumps
- Select Leading Smart Pumps Available in the Market
- Expansion in Oil & Gas Sector Augurs Well for Market Growth
- Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2023
- Global Oil Production: Percentage Share Breakdown of Volume Production by Country (2022)
- Global Oil Production: Percentage Breakdown of Production Volume by Onshore, Offshore, and Offshore Deepwater Activity for the Years 2011, 2015 and 2021E
- Impact of Covid-19 on the Oil & Gas Industry
- Implications of Russia-Ukraine Conflict on Oil & Gas Industry
- Inflated Oil Prices Drive Global Capital Expenditure
- Global E&P CAPEX: 2015-2023
- Growing Relevance of Industrial Pumps in Power Industry
- China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand (GED) in TWh for 2017-50
- Increased Demand in Chemicals Industry Bodes Well for Market Growth
- Urban Sprawl Extends Broad-based Opportunities
- World Urban Population in Thousands: 1950-2050
- Smart City, the New Urban Infrastructure Concept, to Fuel Fresh Wave of Growth
- Global Market for Smart City Technologies in US$ Million for the Years 2020 and 2027
- Speed Flow Controllers to Change the Game for Industrial Pumps
- Innovated Compact Pumps to Make their Way
- Rising Demand for Industrial Pumps in Textile Industry
- Select Innovations in the Industrial Pumps Industry to Drive Market Expansion
- Switch from Gas Pumps to Electric – A Significant Trend
- Extremely Precise Flow Control Pumps to Foray into the Market
- On-Demand “Smart Pump” Applications
- Waste Reduction and Sustainability
- Chemical Compatibility
- Compact Pump Footprint
FOCUS ON SELECT PLAYERS (Total 297 Featured)
- Baker Hughes Company
- Danfoss AS
- Dover Corporation
- EBARA Corporation
- Flowserve Corporation
- General Electric Company
- Grundfos Holding AS
- ITT Inc.
- KSB SE & Co. KGaA
- Ruhrpumpen Group
- Schlumberger Ltd, doing business as SLB
- SPP Pumps Inc.
- SPX Flow Corporation
- Sulzer Ltd.
- The Weir Group plc
- Wilo Mather & Platt Pumps Pvt. Ltd
- Xylem Inc.
For more information about this report visit https://www.researchandmarkets.com/r/rpt32q
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