Industrial Pumps
Market, Supplier, Risk and
Competitive Intelligence

Industry Outlook & Drivers

Global Pump Market Outlook

• The global pump market was valued at $62.6 billion in 2019
• The market is forecast to grow at a CAGR of 5–6 percent to $99.3 billion by 2027
• APAC is the highest demand-generating geography, followed by North America and MEA

Global Industrial  Pump Market Maturity

• The global industrial pump market was valued at $47.6 Bn in 2017. It was expected to grow at a CAGR of 4–5% until 2020.
• The industrial pump market is extremely competitive, catering to various industries with vast end-user segments and suppliers.
• Prominent players in the market are embracing strategies such as new product launches and acquisition of small and medium-scale businesses (SMB) to enhance their market penetration and gain the upper hand over their peers.
• Moreover, market players are investing heavily in research and development (R&D) activities to innovate products that can be used across the market. 
• The focus of key players in the industrial pump market is more on the economies of the scope instead of the economies of scale as industrial pumps find use in several use cases across numerous end-use sectors. 

Global Industrial Pump Market: Drivers and Constraints 

• The demand drivers vary by region: In developing regions, the demand for industrial pumps increases owing to urbanization 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 primary 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 

• Emphasis on energy efficiency will increase the demand for efficient and sustainable equipment.
• Specialty pumps and pumps with advanced technology such as remote monitoring facilities will favor the market growth.
• Furthermore, several governments across continents are reinventing their existing policies, encouraging the penetration of industrial pumps equipped with cutting-edge technologies across different sectors.

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 the replacement segment increases the scope for global manufacturers in aftermarket parts and services.
• Further, the replacement of existing water and wastewater plants across the globe, especially in the developed regions, is anticipated to bode well for industrial pump manufacturers.

Constraints

Raw material price fluctuation 

• The pump industry is highly price-based, given the stiff competition from low-cost producers, especially in APAC. As such, uncertainty in the product pricing is hampering the market growth in Europe and the Americas. 
• Fluctuations in the currency exchange rate and 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 Industrial Pump Market by Product Category

• Centrifugal pumps account for 51% of the overall industrial pumps market.
• Though centrifugal pumps account for a majority of the overall pumps market, major end-user industries are switching to PD pumps given their high performance and low lifetime costs.

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 a high volume of water for coolants.
• The demand for centrifugal pumps will be primarily from China, followed by Japan, India, Germany, and France.
• The major industries driving demand for centrifugal pumps in 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 owing to concerns over process contamination. The major end-users for vacuum pumps are the chemical, petrochemical, electronics, and automobile industries.

Why You Should Buy This Report

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.