Author: Vikas Kumar
14 February 2023
Industrial pumps are a machine that transfigures the mechanical energy that it absorbs from the thermal, electrical, or any other kind of motor. It transforms it into a fluid as hydraulic energy which allows the transportation of fuel from one place to another. The market for industrial pumps has recently experienced strong demand as a result of the growing adoption from a number of industries, including agriculture, construction, municipal, sewage & waste, among others. Additionally, the integration of industry 4.0 compels businesses to upgrade their infrastructure, which is anticipated to support demand for industrial pumps during the projection period. The need is also expected to be driven by the usage of industrial pumps in numerous applications, including fluid management for large volumes, chemical processing, pressured fluid/water, and water movement.
The Industrial Pumps Market is expected to grow at a steady rate of around 6% during the forecast period (2022-2028) owing to the increasing adoption of centrifugal pumps for agriculture applications along with the increasing investment in wastewater treatment plants around the world. Major companies in the market are focusing to provide industrial pumps with technologically advanced features along with new product launches, collaboration, and mergers & acquisitions. Major companies in the market are focusing to provide industrial pumps with technologically advanced features along with new product launches, collaboration, and mergers & acquisitions. For instance, in June 2022, Atlas Copco acquired Shandong Jinggong Pumps Co. Ltd. a Chinese manufacturer of industrial vacuum pumps & systems which strengthened its presence in the Asia-Pacific region.
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Based on application, the market is segmented into chemical, oil & gas, power generation, general industry, water & wastewater, and other. The water & wastewater segment is expected to register significant market growth during the forecast period due to the increasing demand for water treatment facilities to meet the growing need for drinkable water around the world. Additionally, several kinds of industrial pumps, such as high-pressure pumps, submersible water pumps, agitator pumps, and circulation pumps among others, are deployed in water and wastewater treatment facilities to collect wastewater from various locations and transport it to the treatment facility, where it is then redirected for end use.
On the basis of operation, the market is segmented into hydraulic, electrical, and air driven. The electrical segment is expected to witness significant CAGR during the forecast period owing to its ability to handle both liquid and solid as well as to increase production across the industries. Electric pumps are also more effective and require less servicing. The electrical segment is also estimated to assist market expansion during the forecast period as it imposes less exposure to breakdown and malfunction along with lower operational costs than its counterpart. Furthermore, the increasing demand for electrical pumps in different industries including mining, oil & gas exploration, and water treatment industries among others owing to the system design and reduced fueled pressure is expected to propel the demand for the electricity-driven segment.
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For a better understanding of the market adoption of the industrial pumps industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to rapid industrialization and economic expansion. Also, the growth in the manufacturing sector, oil & gas industries, and increasing demand for usable water among others will support the market growth. Additionally, the industrial pumps market will experience growth due to mergers and acquisitions, new product launches, and decreasing production and labor costs in the region. Additionally, it is expected that rising R&D expenditures, mergers & collaboration between the leading players along with the new product launch, and investments in infrastructure will fuel market expansion throughout the course of the projection period. For instance, in January 2022, Sulzer group diversified its product portfolio of clean water pumps with the launch of the SKS and SES ranges products that are suitable to use in water treatment facilities, municipalities, and commercial & irrigation systems.
Some of the major players operating in the market include Flowserve Corporation, Grundfos Holding A/S, KSB SE & Co. KGaA, Iwaki Co. Ltd., SPX Flow, Sulzer Ltd., Xylem, Ingersoll-Rand, Pentair, and Atlas Copco AB
Global Industrial Pumps Market Segmentation
Market Insight, by Type
Market Insight, by Operation
Market Insight, by Application
Market Insight, by Region
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