Industrial Pumps Market Overview
The global industrial pump market is projected to grow at a CAGR of 4-5 percent to $54.6 billion by 2020. The APAC is the largest demand-generating region with 38 percent of the global pump market, followed by North America and Europe. Developing regions such as LATAM, the Middle East, Africa, and APAC will promote the growth of the global pump market. The industrial pumps market is dominated by Tier-1 suppliers who have the ability to produce pumps of high quality and tailored specifications. In developing regions, the key driver of the industry is the demand for pumps which has increased due to urbanization and infrastructure development. However, in developed regions, the demand is driven by constant process improvements in manufacturing.
The report provides a detailed analysis of the global industry outlook and the various opportunities and challenges in the industrial pumps market. It also covers the key technological trends in the pump industry, including energy-efficient and renewable pumps, smart sensors & remote monitoring, predictive software, and engineered machined products (EMP). The report also discusses the procurement strategies and provides a comprehensive overview of major industry suppliers.
Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.
Industrial Pumps Market Trends
Category Intelligence on Industrial Pumps covers the following
- Information relating to market, supply, cost, and pricing analysis
- Hard to find data on cost and TCO models, supplier details, and performance benchmarks
- Macroeconomic and regional trends impacting cost, supply, and other market dynamics
- Category-specific negotiation and sourcing advice
Industry Outlook & Drivers
Global Pump Market Outlook
- Market survey for pumps shows that the global pump market was valued at $49.9 billion in 2018
- 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
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
Global Pump Market by Product Category
- Centrifugal pumps account for 51 percent of the overall pumps market
- Though centrifugal pumps account for a majority of the overall pumps market, major end-user industries are switching to PD pumps, due to high performance and low lifetime cost
Centrifugal Pumps
- The utility sector will be contributing to the rising demand for centrifugal pumps
- Increasing throughput demand has led to the development of high-capacity centrifugal pumps. For example, the steel industry requires large and powerful pumps to transfer high volume of water for coolants
- The demand for centrifugal pumps will be primarily from China, followed by Japan, India, Germany, and France
- Driving industries: The major industries driving demand for centrifugal pumps in the emerging countries are infrastructure and wastewater treatment
PD Pumps
- Most reliable and efficient pump types known for constant flow with self-priming, highly suitable for dangerous chemicals, sensitive and abrasive fluids
- In energy-efficiency-related applications, there has been an increasing adoption of PD pumps. For example, industries focused as energy, chemicals, and hygiene, have adopted PD pumps, due to high performance and low lifetime cost
- North America holds the major market share in this segment. Energy demand in Asian countries has lead to high demand for these pumps
- Driving industries: F&B and agriculture industries drive the demand for peristaltic pumps, which are a type of volumetric pump
Other specialty pump markets:
- The specialty pumps are predominantly used in niche applications
- For example, vacuum pumps are used in process industries, due to concerns over process contamination. The major end users for vacuum pumps are chemical, petrochemical, electronics, and automobile industries
