The Industrial Pumps Market Analysis has demonstrated strong growth, with a valuation of USD 62.36 billion in 2022. Projections suggest significant expansion, with the market expected to reach USD 93.55 billion by 2030, reflecting a robust Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period from 2023 to 2030.
A pump, a mechanical device designed for moving fluids or slurries, plays a pivotal role in various applications. Operating on reciprocating and rotating mechanics, pumps can be powered by manual operation, electricity, engines, or wind power. Their versatility allows for pumping water from wells, fuel injection, cooling towers, and other processes. In the industrial context, pumps are heavy-duty applications used to transport materials such as water, chemicals, fuel, wastewater, tar, sludge, slurry, or food.
Key Highlights:
1. Current Valuation: As of 2022, the Industrial Pumps Market Analysis is valued at USD 62.36 billion, underscoring its indispensable role in fluid transportation across diverse industries.
2. Projected Growth: Forecasts suggest significant expansion, with the market anticipated to reach USD 93.55 billion by 2030, demonstrating a robust CAGR of 5.2% during the forecast period.
3. Versatile Applications: Industrial pumps find applications in a wide range of industries for transporting various materials, including water, chemicals, fuel, wastewater, tar, sludge, slurry, and food.
4. Power Sources: Pumps can be powered by manual operation, electricity, engines, or wind power, allowing for flexibility in their usage across different contexts.
Industry analysts attribute the anticipated growth to the increasing demand for efficient fluid transportation solutions in industrial processes. The Industrial Pumps Market presents opportunities for stakeholders, investors, and businesses operating within the manufacturing, chemical, and other industrial sectors.
KEY MARKET SEGMENTATION
- Basis of Type
- Centrifugal
- Reciprocating
- Rotary
- Other
- Basis of Position
- Submersible
- Non-Submersible
- Basis of Driving Force
- Engine-Driven
- Electrical Driven
On The Basis of End-User
- Oil & Gas
- Chemicals
- Power Generation
- Water & Wastewater
- General Industry
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Key Players
The major key players are Atlas Copco Ab, Ebara Corporation, Flowserve Corporation, Grundfos Holding A/S, Itt Inc., Ksb Se & Co. Kgaa, Sulzer Ltd., The Gorman-Rupp Company, The Weir Group Plc, Xylem Inc. and Other Players
Driving Factors
- Chemicals and wastewater treatment are examples of different uses.
- Demand for modern manufacturing facilities comes from a variety of businesses.
Opportunities
- Considerable exploration activity in the unconventional gas and oil industry, both onshore and offshore.
- Industrial pump technical improvement is expected to give profitable prospects.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis...14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion