Global Pump Market Outlook

  • The global pump market was valued at $47.6 billion in 2017
  • The market is forecast to grow at a CAGR of 4–5 percent to $54.6 billion by 2020 
  • APAC is the highest demand-generating geography, followed by North America and Europe

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Global Pump Market Maturity

  • The global pump market is valued to be $47.6 billion in 2017, and it is expected to grow at a CAGR of 4–5 percent until 2020
  • APAC accounts for approximately 38 percent of the global pump market, and it is expected to remain in a similar range (40–42 percent) until 2020 
  • The pump market is extremely fragmented and competitive, catering to a variety of industries with vast end-user segments and suppliers

Global Market Drivers and Constraints 

  • The demand drivers vary by region: In developing regions the demand for pumps increases due to urbanisation and infrastructure development. However, in developed regions, the demand is driven by continuous process improvement in manufacturing. 
  • Oil and gas and wastewater sectors are the primarily growth drivers: The unceasing drilling activities drive the demand in case of oil producing regions such as the Middle East. Also, the boom in hydraulic fracturing in the oil and gas sector drives the demand for process equipment in the US

Drivers 

Driven by End-user industries 

  • Increasing demand for water and wastewater treatment from emerging countries due to ever-increasing population, urbanisation and resource scarcity 

Driven by Efficiency and Advanced Technology 

  • Emphasis on energy efficiency will increase the demand for efficient and sustainable equipment.
  • Speciality pumps and pumps with advanced technology like remote monitoring facilities will boost the market. 

 Strong demand from replacement market 

  • Growing demand from replacement segment increases the scope for global manufacturers in aftermarket parts and services

Constraints

Raw material price fluctuation 

  • Fluctuations in currency exchange rate, as well as fluctuations in raw material prices, risk net revenue and operating margin of global manufacturers, respectively.

Regulations 

  • Stringent environmental laws and regulations with regard to water and waste disposal and air emission 
  • Non-industrial pump manufacturers in developing countries enter the attractive industrial pump segment by taking advantage of their low-cost manufacturing base and distribution network. It indicates a major threat to global industrial pump manufacturers