Industrial Pump Market Value Projected to Reach USD 113.5 billion by 2034

The global industrial pump market is expected to develop with a projected CAGR of 5.3% through 2034. In 2024, the market is expected to cross a valuation of USD 68.0 billion, and by 2034, it is estimated to touch USD 113.5 billion.

The key drivers behind this growth include industrialization in developing economies, stringent wastewater treatment regulations, and advancements in pump technology. Various sectors, including manufacturing, construction, mining, and oil and gas, drive the demand for pumps. Efficiency, reliability, and customization are the key factors that are emphasized in these sectors.

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The market’s competitiveness also presents challenges, with numerous manufacturers offering various pump types and technologies. Despite these challenges, leading pump manufacturers contribute significantly to the market’s growth by leveraging their unique strengths.

Consumption Analysis

The industrial pump market in the United States holds sway over North America, poised for an annual growth rate of 5.4% until 2034.

Meanwhile, the United Kingdom leads the European charge in the global industrial pump market, forecasted to clock a robust annual growth rate of 6.4%.

In China, the market is expected to surge ahead with a commendable CAGR of 5.6% through 2034, showcasing its dominance in the global arena.

Likewise, Japan anticipates steady growth with a projected CAGR of 6.7% through 2034, underscoring its resilience and significance in the industrial pump market.

In South Korea, the market is set to thrive with a promising CAGR of 6.2% through 2034, indicative of its steadfast presence and growth potential in the global landscape.

Growth Factors

The surge of industrialization in emerging economies continues to be a primary catalyst propelling the demand for industrial pumps across diverse sectors such as manufacturing, construction, and mining.

The escalating emphasis on water conservation, coupled with stringent regulations governing wastewater treatment, is fostering a robust demand for industrial pumps utilized in water supply, sewage treatment, and desalination plants.

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Key Companies in the Market

  • Dover Corporation
  • Ebara Corporation
  • Flowserve Corporation
  • Grundfos Holding A/S
  • ITT Inc.
  • Xylem
  • Flowserve Corporation
  • WILO SE
  • KSB SE & Co. KGaA
  • Sulzer Ltd
  • Schlumberger Limited
  • The Weir Group PLC
  • ALFA LAVAL
  • Pentair
  • IDEX
  • Baker Hughes Company
  • SPX Flow

 Recent Developments:

  • In January 2024, SPX FLOW launched the Universal 2nd (U2ND) Positive Displacement Pump Series under its Waukesha Cherry-Burrell (WCB) brand, catering to industrial users’ needs.
  • In November 2023, DXP Enterprises, Inc. acquired Alliance Pump & Mechanical Service, Inc., a prominent player in municipal and industrial pump sales, service, and repair.
  • In August 2023, Atlas Copco acquired Sykes Group Pty Ltd, a dewatering pump manufacturer, which complements its portfolio.

Market Segmentation

By Product:

  • Centrifugal Pump
  • Axial Flow Pump
  • Radial Flow Pump
  • Mixed Flow Pump
  • Positive Displacement Pump
  • Reciprocating
  • Rotary
  • Others

By Distribution Channel:

  • Online
  • Offline

By Application:

  • Oil and Gas
  • Chemicals
  • Construction
  • Power Generation
  • Water and Wastewater
  • Others

By Region:

  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • Latin America

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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