Global Industrial Pumps Market Size & Growth Trends Analysis Report

There are numerous important factors contributing to the growth of the industrial pumps market globally. Industrial pumps are a need in water supply systems and treatment facilities due to the growing demand for water and wastewater treatment brought on by fast urbanization and industrialization. Companies leading this industry are Grundfos and Xylem Inc. Similarly, as the oil and gas sector grows, so does the demand for specialized pumps in transportation, drilling, and refining operations. Sulzer Ltd. and Flowserve Corporation are two companies that have made significant contributions to this need. Moreover, as the chemical and petrochemical sectors grow, there is an increasing need for dependable pumps to handle a range of fluids, including dangerous and corrosive chemicals. Businesses such as KSB SE & Co. KGaA are meeting this demand from the chemical and petrochemical industry. Furthermore, improvements in technology, including the creation of smart pumps with sophisticated monitoring features, improve operational effectiveness and decrease downtime. Leading companies in the integration of digital technologies with industrial pumps include ABB and Siemens.

Although there are obstacles in the form of high startup prices, energy consumption, and adhering to strict environmental rules, there is also a lot of potential in the market, especially in rising economies such as China and India. Large-scale infrastructure projects, the use of smart pump technology, and the emphasis on sustainability and renewable energy sources all present plenty of opportunities for the market growth of industrial pumps. The environmental and energy efficiency regulations are enforced by regulatory authorities such as the European Union (EU) and the U.S. Environmental Protection Agency (EPA), which set standards that influence market dynamics.

Impact of COVID-19

The COVID-19 pandemic had a major effect on the worldwide market for industrial pumps, posing both opportunities and challenges. One way that the pandemic caused delays in manufacturing and distribution was by upsetting supply systems. The need for industrial pumps decreased across several industries, including mining, construction, and oil and gas. Several industrial projects were canceled or reduced. In several industries, operational halts and movement restrictions also resulted in lower production, which had a detrimental impact on the market. However, there was a rise in demand for some industrial pump product categories. For instance, additional pumps were needed by the pharmaceutical and healthcare sectors for use in the production of medical supplies, chemical processing, and water treatment. The pandemic also made automation and digital technology more widely used in industrial processes, which made more sophisticated and effective pumping solutions necessary. Overall, the COVID-19 pandemic caused major disruptions to the global industrial pumps market, but it also highlighted areas of resilience and development potential, especially in industries crucial to pandemic response and recovery.

Segmentation

The global industrial pumps market is segmented into type and application. The type segment is further bifurcated into centrifugal pumps, positive displacement pumps, and others. In 2023, the market was dominated by the centrifugal pump category, which held a 67.7% market share. A leader in the world of sophisticated pump solutions, Grundfos offers a variety of centrifugal pumps for use in industrial operations, wastewater treatment, and water delivery, among other uses. Well-known for producing premium centrifugal pumps, KSB provides services to the water treatment, energy, and building services industries. Verder Group focuses on positive displacement pumps used in the food and beverage, pharmaceutical, and chemical processing sectors. These pumps include diaphragm and peristaltic pumps. The Fluid Technology Group at Watson-Marlow is a top producer of peristaltic pumps, serving industries like mining, food and beverage, and pharmaceuticals. Weir Group, well-known for its slurry pumps, provides services to the mining, oil sands, and minerals processing industries. Xylem provides a variety of specialized pumps, such as submersible pumps for use in mining, construction, and wastewater treatment.

By application, the market is further segmented into water & wastewater treatment, oil & gas, chemicals, power generation, food & beverage, and others. Due to the growing need for water treatment facilities to control the wastewater generated and combat the growing water scarcity in municipalities worldwide, the water and wastewater treatment segment led the market in 2023. Ebara Corporation, renowned for its dependability and efficiency, offers systems and pumps for wastewater treatment and water delivery. Sulzer Ltd provides a wide selection of centrifugal and submersible pumps for use in water and wastewater applications. Flowserve Corporation provides centrifugal and positive displacement pumps, among other types of pumps, to the oil and gas sector. Schlumberger, well-known for producing specialised pumps used in the extraction and processing of oil and gas. ITT Inc. offers corrosive and aggressive chemical handling pumps that are extensively utilized in the chemical sector. Lewa GmbH provides process diaphragm pumps and metering pumps for accurate dosing in chemical processing. Power plant pumps, such as cooling water and boiler feed pumps, are supplied by SPX Flow. Additionally, Flowserve Corporation offers pumps for a range of power generation uses, guaranteeing dependable and effective operations. Alfa Laval, well-known for its hygienic pumps that are used in the preparation of food and beverages to ensure secure and effective fluid handling.

Regional Analysis

Industrial pumps have a developed market in North America owing to their advanced technologies and strict environmental restrictions. The primary source of demand in this region is the oil and gas sector, which uses pumps for drilling, processing, and refining. Due to increasing regulatory emphasis on environmental protection and water conservation, the water and wastewater treatment industries are among the other contributors. North America's main markets include the U.S. and Canada, where firms such as ITT Inc. and Flowserve Corporation are well-established and heavily invested.

Europe has a well-established industrial pump industry that is fueled by the food and beverage, water treatment, and chemical industries. The development of environmentally friendly and energy-efficient pumping technologies is encouraged by the strict environmental requirements of the European Union. Major contributions include the UK, France, and Germany, as well as companies such as Grundfos and KSB. The region's emphasis on circular economy and sustainable development is encouraging the development of sophisticated pumping systems with low environmental effects.

The rapid urbanization and industrialization are driving up demand for industrial pumps in the Asia Pacific region. Owing to the development of infrastructure, the growth of industrial sectors, and the rising cost of water and wastewater treatment projects, emerging economies such as China and India are the two largest markets. The industrial pumps are also heavily utilized by the chemical and pharmaceutical industries in the region. Firms such as Kirloskar Brothers Limited and Ebara Corporation are the key players in the Asia Pacific region. There is fierce competition in the market, with regional producers providing affordable options alongside well-known global names.

The mining, oil and gas, and agricultural industries are the main drivers of the industrial pumps market in Latin America. Major markets like Brazil and Mexico are driven by investments in energy projects and the expansion of infrastructure. Efficient water and wastewater treatment technologies are increasingly needed in the region due to water management difficulties. Enterprises such as Xylem and Sulzer Ltd. are well-established in the region. Nonetheless, market dynamics may be impacted by political unpredictability and economic volatility.

The oil and gas sector is the main driver of the industrial pumps market in the Middle East and Africa region. Petroleum extraction, refining, and petrochemical processing are the main industries in nations like Saudi Arabia, the United Arab Emirates, and South Africa. Owing to the region's problems with water scarcity, there is also a large demand for wastewater and water management solutions. The major participants in the market, such as Weir Group, and Sulzer Ltd., are well established in the region. However, in other regions, market expansion may be hampered by political unrest and cyclical economic conditions.

Competitive Analysis

The key players in the global industrial pumps market are Grundfos Holding A/S, Pentair, Ingersoll-Rand, ITT INC., Flowserve Corporation, Sulzer Ltd., Schlumberger Limited, EBARA International Corporation, and The Weir Group PLC.

In 2023, Metasphere, a Tadworth-based provider of wastewater and climate change monitoring services was acquired by Grundfos. Similarly, in the same year, ITT purchased SVANEHØJ, a Svenstrup-based firm that was established in 1928 and specialized in producing pumps for the marine and upstream oil and gas sectors.

Turbo Services, a Margate-based business that provides manufacturing, refurbishment, repair, and training services for turbines and turbine generator sets, was purchased by Sulzer in March 2021. Turbo Services, which was established in 2002, improves Sulzer's capacity to repair and maintain turbine machinery.

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The global industrial pumps market is segmented as follows:

By Type (Revenue: USD Billion, 2019 – 2031)
●    Centrifugal Pumps
●    Positive Displacement Pumps
●    Others

By Application (Revenue: USD Billion, 2019 – 2031)
●    Water and Wastewater Treatment
●    Oil & Gas
●    Chemicals
●    Power Generation
●    Food & Beverage
●    Others

By Region (Revenue: USD Billion, 2019 – 2031)

● North America
o U.S.
o Canada
o Mexico

● Europe
o U.K.
o France
o Germany
o Italy
o Spain
o Rest of Europe

● Asia Pacific
o China
o Japan
o India
o South Korea
o South East Asia
o Rest of Asia Pacific

● Latin America
o Brazil
o Argentina
o Rest of Latin America

● Middle East & Africa
o GCC Countries
o South Africa
o Rest of Middle East & Africa