Industrial Pumps Market Worth $86,346.0 Million in 2030 | by Type, Position & Driving Force

Rise in adoption of industrial pumps in petrochemicals, chemicals, medical, and pharmaceutical industry fuels the growth of the global industrial pumps market.

PORTLAND, OR, UNITED STATES, September 14, 2021 /EINPresswire.com/ -- Industrial pumps are electro-mechanical or mechanical devices used for control of gases, liquid, slurries, and others through pipes and tubes in industries. Different kinds of industrial pumps perform various functions such as shut on/off, pressure control, and other regulation purposes. Moreover, industrial pumps are manufactured using carbon steel, cast iron, stainless steel, and various other metal alloys for attaining high efficiency.

The global industrial pumps market size is expected to reach $86.3 billion in 2030 from $55.8 billion in 2020, growing at a CAGR of 4.3% from 2021 to 2030.

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Furthermore, the high automation and control in industrial pumps improve their functioning in hazardous applications such as oil & gas, chemical processing, nuclear power generation plants, and others. In addition, the implementation of automation technologies has assisted in reducing the wastage of liquids passing through the pipes, resulting in reduction of costs. Various industries adopt automation and control technologies by upgrading their pre-installed industrial pumps, which, in turn, drives the industrial pumps market growth.

Covid-19 Impact Analysis

The COVID-19 pandemic has negatively affected the industrial pumps market mainly due to the halt in international trade, prolonged lockdowns, and ceased manufacturing processes. In addition, the major end-user manufacturing companies located in countries, such as the U.S., Germany, the UK, and others, are also facing financial impacts due to halt in production, which hindered the growth of the industrial pumps market in 2020.

Key Market Players

Flowserve Corporation
The Weir Group plc
Grundfos
KSB
ITT Inc
Sulzer
EBARA Corporation
Xylem
SPX Flow Corporation
Baker Hughes

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Key Market Segments

BY TYPE

Centrifugal

Submersible Motor
Single-Stage
Multi-Stage
Others

Reciprocating

Piston/Plunger
Others

Rotary
Gear
Vane
Screw
Others

Others

BY POSITION

Submersible
Non-submersible

BY DRIVING FORCE

Engine-Driven
Electrical-Driven

BY END-USER

Oil & Gas

Onshore
Offshore
Refining

Chemicals

Basic Chemicals
Biofuels
Other Chemicals

Power Generation

Coal/Oil Power
Gas/Cogen Power
Nuclear Power
Hydro Power

Water & Wastewater

General Industry
Mining
Food & Beverage
Metal Manufacturing
Building Services
Construction Dewatering
Others

BY REGION

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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