With sales of chopper pumps enjoying Y-o-Y growth of 4.5% in 2022, the market is expected to reach US$ 818.4 Mn by the end of the year. Going forward, the global chopper pumps market is anticipated to reach a valuation of US$ 1.21 Bn by 2030, expanding at a CAGR of 5% (2022-2030).
In its most recent study on the chopper pump market, Future Market Insights, an ESOMAR-certified market research company, predicts that the market will surpass US$ 1.20 Bn by 2030. Manufacturers of chopper pumps are stepping up their efforts to improve chopper pump pumping efficiency. According to FMI’s analysis, a 2%–3% increase in efficiency would result in annual cost savings of thousands of dollars.
About 15%–20% of chopper pumps in nations like the US are energy-efficient, enhancing market prospects through 2030. This has also paved way for increased R&D spending wherein manufacturers are focusing on development of innovative chopper pump solutions with high durability and increased efficiency.
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Key Takeaways of Chopper Pumps Market Study
- Superior durability, higher product lifecycles and reduced installation costs will be primary USPs of chopper pump manufacturers
- Organized aftermarket services and a robust network of distributorships for maintenance services will brighten prospects for chopper pumps market through 2030
- Cost saving processing in food and beverages sector is anticipated to create new investment streams for chopper pumps in developing regions such as China and India
- Strong branding and brand positioning by SME’s and small-scale retailers of chopper pumps is enabling penetration of local players in the market.
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COVID-19 Impact on Chopper Pumps Market
Manufacturers are seeing their revenue pools shrink with large scale disruptions in supply chains due to quarantines and factory shutdowns.
Sectors such as chemicals, paper and pulp, wastewater management and agriculture are seeing a slowdown in new project developments and is impacting overall demand for pumps.
The near-term impact on chopper pumps market will be determined by effective management of supply chains and fiscal/control measures for continued liquidity for SMEs. Post pandemic, it is anticipated that chopper pump manufacturers will re-shore their manufacturing and facilities towards South Asia in countries such as India. With agriculture and food processing relatively less affected by the pandemic, the market will recover in the foreseeable future.
Chopper Pumps Market Competition Landscape
The market for chopper pumps is fairly fragmented. The leading stakeholders have a large footprint in regions such as North America and Europe.
- Sulzer, a Switzerland based pump manufacturer, has introduced dewatering submersible chopper pumps with an equipped aquatronic unit giving real time intelligence
- Vaughan Co, a US based pumps supplier, has launched more than 2o patents for its range of innovative products
- Cornell Pump Company, another US based pump manufacturer, accounted for 2.4% of the market share in 2019. It extensively brands its pumps by participating in trade shows and events across the world
- The Danish Water Technology alliance between the Danish water sector and North America is projected to create numerous opportunities for Landia, a Denmark based pump manufacturer. The company actively strives for new and innovative chopper pumps to achieve lowest lifespan costs with minimal resource consumption
On the other hand, smaller players are penetrating extensively in developing regions of Asia Pacific where they are expanding their local networks by either setting up their own sales and distribution channels or collaborating with independent distributors.
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Key Segments Of Chopper Pumps Industry Survey
Chopper Pumps Market by Product:
- Submersible Chopper Pumps
- Cantilever Chopper Pumps
- Vertical Dry Pit Chopper Pumps
- Self-priming Chopper Pumps
- End Suction Chopper Pumps
- Vertical Wet Well Chopper Pumps
Chopper Pumps Market by Outlet Diameter:
- Up to 50 mm Chopper Pumps
- 50 – 100 mm Chopper Pumps
- 100 – 150 mm Chopper Pumps
- Above 150 mm Chopper Pumps
Chopper Pumps Market by Application:
- Agriculture
- Municipal
- Water Treatment
- Sewage Treatment
- Automotive
- Steel
- Chemicals & Petrochemicals
- Food Processing
- Mining
- Paper & Pulp
Chopper Pumps Market by Region:
- North America Chopper Pumps Market
- Latin America Chopper Pumps Market
- Europe Chopper Pumps Market
- East Asia Chopper Pumps Market
- South Asia & Pacific Chopper Pumps Market
- Middle East & Africa (MEA) Chopper Pumps Market
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