Dublin, Jan. 08, 2025 (GLOBE NEWSWIRE) — The “Pumps Market by Type, Operation, End User, and Region – Global Forecast 2029” report has been added to ResearchAndMarkets.com’s offering.
The global pumps market is expected to grow significantly from an estimated USD 61.32 billion in 2024 to USD 79.01 billion by 2029, at a CAGR of 5.2%
The report will help the market leaders/new entrants pumps market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The global pump market is expected to grow well, as a result of accelerating industrialization and urbanization coupled with a strong rise in investment in infrastructure around the world. This growth is led by growing demand across such sectors as water and wastewater, oil and gas, chemicals, power generation, and construction.
Energy-efficient and smart technologies in pumps can be driven further by environmental regulations and sustainability goals supporting overall market growth. Advances in digitalization and IoT-enabled pumps are opening new avenues for monitoring and optimizing pump performance, thus reducing operational costs and enhancing reliability.
The global pumps market is dominated by key players that hold a wide regional presence and offer a diverse range of products. Leading companies in the pumps market include Grundfos Holding A/S (Denmark), Xylem (US), Flowserve Corporation (US), KSB Limited (India), Sulzer Ltd (Switzerland) among others.
Reciprocating pumps segment, by type, is expected to hold third largest market share during forecast period
Reciprocating pumps are the third largest segment in the global pumps market because they can better handle high-pressure and low-flow applications, which make them useful in all oil and gas, petrochemicals, and chemical processing industries. They are extremely efficient for applications that demand the control of fluid, as well as in applications requiring the handling of viscous fluids, abrasive slurries, and even those of solids-laden liquids.
Centrifugal or rotary pumps struggle to handle these frequently in an efficient manner. Demand for reciprocating pumps comes in high because these are more prominent in areas where heavy industrial processes are developed, and robust, reliable designs make them the first priority for applications where downtime and equipment failure must be kept to a minimum.
South America is expected to hold the least market share during forecast period.
South America is the fifth and smallest market share in the global pumps market, mainly due to various structural and economic challenges. Since industrialization is not as pronounced as it is in more developed regions, demand is relatively low across industries such as manufacturing and energy. Economic instability, along with low investments in infrastructure, has further constrained the growth of those sectors that largely depend on more sophisticated systems involving pumps. Countries like Brazil and Argentina have some industrial activities, but industrial and urban development are slower than in regions like Asia Pacific or North America.
The report provides insights on the following pointers:
- Analysis of key drivers (Rapid industrialization and urbanization, Significant focus on infrastructure development), restraints (Regulatory complexity and high cost of compliance, High upfront investments and skill shortages) opportunities (Adoption of smart and IoT enabled pumps, Significant growth potential in emerging markets), and challenges (Complexity in retrofitting and integrating pumping systems, Competition from low-cost, non-branded products) influencing the growth.
- Product Development/ Innovation: In the global pumps market, product development and innovation trends are focused on product enhancement in terms of energy efficiency, smart technology, and sustainability. There is an increasing focus on pump manufacturers to develop pumps with IoT capabilities that enable real-time monitoring, predictive maintenance, and data-driven optimisation; this trend is being driven by cross-industry demand for systems that reduce operational costs and improve productivity. Innovations in materials and design enable pumps to handle corrosive and high-temperature fluids much better than before, which is expanding applications in industries such as chemical processing and oil & gas. Another aspect companies are keen on is creating modular and customizable solutions for end-user-specific requirements, especially in water and wastewater management. Such product developments, oriented more toward enhancing the pump’s performance, reliability, and environmental compliance, are critical to achieve market competitiveness.
- Market Development: Large-scale development in the global pumps market is seen to be led by expanding industrialization, urbanization, and infrastructure projects, especially in economies in developing regions. Sustained growth in segments like water and wastewater management, oil and gas, chemical processing, and building services helps boost demand, due to increasing requirements for efficient and reliable pump systems. Moreover, leading players are expanding their network of distribution, forging strategic partnerships and upgrading service delivery capabilities to unlock new markets and cater to the evolving requirements of customers worldwide. All these together are making the scope of the market grow and provide growth opportunities in mature as well as emerging regions.
- Market Diversification: The strategy of diversification helps in maintaining long-term growth in the global pumps market as well as navigating regional or sectoral fluctuations in economic growth. Players in the market are gradually expanding their portfolios to serve greater numbers of application across diversified sectors including agriculture, pharmaceuticals, mining, HVAC, new areas of renewable energy, and electric vehicle manufacture, wherein specialized pumping solutions are increasingly sought. To support their diversification efforts, companies are currently investing in R&D for designing pumps that are not only energy efficient and eco-friendly but also have the ability to integrate with IoT systems for smart monitoring. Diversifying offerings for specific industries and geographies, pump manufacturers have positioned themselves to seize opportunities across high growth as well as resilient sectors and, therefore, strengthen their market presence while growing further into a global footprint.
- Competitive Assessment: In-depth analysis of market share, growth plans, and service offerings of top companies in the global pumps market, including Grundfos Holding A/S (Denmark), Xylem (US), Flowserve Corporation (US), KSB Limited (India), Sulzer Ltd (Switzerland), Pentair (US), ITT INC. (US), EBARA CORPORATION (Japan), The Weir Group PLC (Scotland), Danfoss (Denmark), KIRLOSKAR BROTHERS LIMITED (INDIA) (India), Bakes Hughes Company (US), ALFA LAVAL (Sweden), among others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 289 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $61.32 Billion |
| Forecasted Market Value (USD) by 2029 | $79.01 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Companies Featured
- Grundfos Holding A/S
- Xylem
- Ksb SE & Co. KGaA
- Sulzer Ltd
- Flowserve Corporation
- Pentair
- Itt Inc.
- Wilo SE
- Ebara Corporation
- The Weir Group PLC
- Danfoss
- Spx Flow, Inc.
- Kirloskar Brothers Limited (India)
- Baker Hughes Company
- Alfa Laval
- Weg
- Torishima Pump Mfg. Co. Ltd
- Gorman-Rupp Pump
- Spt Pumpen
- Leo Group Pump Co. Ltd.
- Grindex
- Hcp Pump Manufacturer Co. Ltd.
- Proril
- Cnp India Private Limited
- Zhejiang Doyin Technology Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/uz8mfi
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