Industrial Pumps Market
Dublin, May 29, 2024 (GLOBE NEWSWIRE) — 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$62.7 Billion in the year 2023, is projected to reach a revised size of US$87.4 Billion by 2030, growing at a CAGR of 4.2% over the analysis period 2023-2030. Centrifugal Pumps, one of the segments analyzed in the report, is projected to record a 4.2% CAGR 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 pumps market includes various types such as centrifugal, positive displacement, peristaltic, and submersible pumps, each suited to different applications like water and wastewater treatment, oil and gas, and chemical processing. The market is poised for rapid growth, driven by increasing demand in these end-use sectors despite some market deterrents. Centrifugal pumps are expected to remain the dominant product category.
The U.S. Market is Estimated at $11.3 Billion, While China is Forecast to Grow at 5.8% CAGR
A global economic update and competitive landscape analysis reveal 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 Industrial Pumps market in the U.S. is estimated at US$11.3 Billion in the year 2023. 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 5.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.4% respectively over the 2023-2030 period. Within 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 a revised size of US$16.3 Billion by the year 2030.
Key Attributes:
Report Attribute | Details |
No. of Pages | 1038 |
Forecast Period | 2023 – 2030 |
Estimated Market Value (USD) in 2023 | $62.7 Billion |
Forecasted Market Value (USD) by 2030 | $87.4 Billion |
Compound Annual Growth Rate | 4.9% |
Regions Covered | Global |
MARKET OVERVIEW
A Prelude to Industrial Pumps
Different Types of Industrial Pumps
Applications of Industrial Pumps
End-uses of Industrial Pumps
Global Economic Update
Competitive Landscape
Industrial Pumps – Global Key Competitors Percentage Market Share in 2023 (E)
Global Market Prospects and Outlook
Global Industrial Pumps Market Set for a Rapid Growth
Growth Drivers
Market Deterrents
Centrifugal Pumps to Remain Dominant Product Category as Demand Surges
Regional Analysis
Market Outlook
Recent Market Activity
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
Planned Construction Projects as Bright Spot in 2023
US Construction Outlook
Thrust Towards Digitalization and Automation across Industries Augurs Well for Long-Term Growth
Rise of Industry 4.0 & Smart Factory Mandates Technology Adjustments to Industrial Pumps Market
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
Inflated Oil Prices Drive Global Capital Expenditure
Growing Relevance of Industrial Pumps in Power Industry
China and India Lead the Global Rise in Demand for Electricity
Increased Demand in Chemicals Industry Bodes Well for Market Growth
Urban Sprawl Extends Broad-based Opportunities
Smart City, the New Urban Infrastructure Concept, to Fuel Fresh Wave of Growth
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/2f0z34
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