Industrial Pumps Market Intelligence

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