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Pumps Market Size to Reach Around US$ 94.4 Billion by 2030

According to Precedence Research, the global pumps market size is expected to reach over US$ 94.4 billion by 2030 from USD 67.7 billion in 2020, growing at a CAGR of 3.4% from 2021 to 2030.

/EIN News/ -- Ottawa, Feb. 02, 2022 (GLOBE NEWSWIRE) -- The global pumps market size was reached at US$ 69.81 billion in 2021. The global pumps market will expand at a moderate rate, owing to increased government spending on innovative water infrastructure. The increasing use of various types of pumps in various industries, such as oil and gas, water and wastewater treatment, food and beverage, electricity generation, and chemical industries will drive the pumps market growth.

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Moreover, the increased need for clean water for both domestic and industrial use would increase the number of water and wastewater treatment plants, driving up demand for pumps. As governments install state of the art flood control systems in flood prone areas, product demand will surge. Water conservation measures will be aided by an increasing awareness of the consumption of water, as well as the depletion of groundwater.

Report Coverage

Report Highlights Details
Market Size by 2030 USD 94.4 Billion
Growth Rate from 2021 to 2030 3.4%  
Fastest Growing Region North America
Largest Revenue Holder Asia Pacific
By Product Type
  • Centrifugal Pump
  • Positive Displacement Pump
  • Others
By Application
  • Agriculture
  • Construction and Building Services
  • Water and Wastewater
  • Power Generation
  • Oil and Gas
  • Chemical
  • Others

Report Highlights

  • Based on the product type, centrifugal pumps segment dominates the global pumps market during the forecast period. The centrifugal pumps are designed to transfer fluid through impellers using mechanical forces. The fluids are subjected to shear stress and are guided towards the outlet by rotating impellers. These aforementioned factors are driving the growth of the segment.

  • Based on the application, the water and wastewater segment is expected to grow at a rapid pace during the forecast period. The water scarcity and demand for potable water are expected to increase globally, resulting in high acceptance of water and wastewater application. Pump systems are necessary to remove impurities and release them into water resources in water and wastewater applications. Pumping systems are utilized in water supply activities such as clean water systems and grey water recycling to increase efficiency.

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Regional Snapshot

Asia-Pacific region lead the market and hit 47% revenue share in 2020. The presence of many low-cost product manufacturers in developing nations would help boost the regional market demand, as they can supply end users with long term tailored assistance. The existence of various small, medium, and large-scale pharmaceutical and chemical enterprises in India and China will bolster market expansion even further.

North America is the fastest growing segment for pumps market in terms of region. Due to a significant increase in construction activity in the industrial and commercial sectors, the North America market is likely to continue to grow steadily. Furthermore, throughout the projection period, a surge in the installation of independent power plants as well as technological improvements is expected to fuel product demand in North America.

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Market Dynamics


Increased investments in wastewater treatment plants

Wastewater reuse is a critical solution for overcoming water scarcity and meeting rising water demands. Pumps are widely used to process used water in wastewater treatment plants. Rotating impellers are used in these pumps to increase impeller velocity and push fluids through outlet valves. As a result, the increasing number of global wastewater treatment plants is expected to drive up demand for pumps.


Increased competition from unorganized sectors from gray market players

Gray market products pose significant challenges to brand owners by offering low-cost alternatives and cost-effective maintenance services. These alternative products are provided by local and grey market players in the pump industry. In terms of price competitiveness and an efficient local supply network, the unorganized sector, which includes grey market and local players, can outperform well-established companies in this market. Furthermore, because local players are close to consumers, they can respond quickly to their needs. This serves as an add-on for the purchase of alternative locally manufactured products. Thus, the easy availability of local alternative products hampers the entry of global pump manufacturers into the local market and poses a threat to the market.


Surge in demand in different industries

The pumps market expansion has also been boosted by increased industrial activities and infrastructure rehabilitation. Pump demand has surged due to the increasing growth of chemical industries around the world. Pumps have become more widely used in chemical transfer systems as a result of recent developments in corrosion resistant pumps. As a result, the surge in demand in different industries is huge opportunity for the growth of the pumps market.


Cavitation effects

Cavitation is the process by which the vapor phase of a liquid forms when it is subjected to reduced pressures at a constant ambient temperature. Vapor bubbles formed within pumps due to insufficient liquid tend to move toward areas of high pressure within them in order to collapse under sufficient pressure and return to the liquid state. Thus, the cavitation effects are a major challenge for the growth of the pumps market.

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Some of the prominent players in the global pumps market include:

  • EBARA International Corp.
  • Vaughan Company Inc.
  • Flowserve Corp.
  • Sulzer Ltd.
  • IWAKI Co. Ltd
  • Grundfos Holding A/S
  • KSB SE & Co. KGaA
  • Schlumberger Ltd.
  • Xylem
  • Sulzer Ltd.

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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