The Asia Pacific Industrial Pumps market share is projected to reach US$ 39.3 Bn in 2032. The growing worldwide industrialization has been increasing the demand for the industrial pump.
According to FMI, the Asia Pacific Industrial Pumps market is estimated to be valued at US$ 24.8 Bn in 2022 and is projected to increase at a CAGR of 4.7% in the forecast period from 2022 to 2032.
| Attributes | Details |
|---|---|
| Market Size (2021) | US$ 22.8 Billion |
| Market Size 2022 | US$ 24.8 Billion |
| Market Size 2032 | US$ 39.3 Billion |
| Value CAGR (2022 to 2032) | 4.7% |
Industrial pumps are made especially for heavy-duty industrial applications. Industrial pumps are used in many different industries and are crucial for transporting a variety of fluids like oil, chemical, food, beverages, slurries, and water from one place to another.
Any process or manufacturing facility needs effective pumping systems to run smoothly. Industrial pumps are employed in a wide range of industrial settings, including power and petrochemical plants, which directly support production and generating processes and frequently operate for extended periods. According to estimates, motor-driven machinery i.e. industrial pump makes up about 27% of all the energy used by all industries.
Industrial Pumps are mainly classified as centrifugal pumps which are also called roto-dynamic pumps and positive displacement pumps. Centrifugal pumps are creating sections by one or more rotating impellers, while Positive displacement pumps are consisting of a piston that pushes in and out of fluid for suction creation. Centrifugal pumps are of three types axial, mixed-flow, and radial types, and Positive displacement pumps include piston, screw, sliding vane, diaphragm, and rotary lobe types.
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The analysis of industrial pump demand from 2017 to 2021 showed a historical growth rate of less than 3.6% CAGR, with growing industrial sector expansion and development in various industries like chemicals, oil & gas, and other industry driving the market growth.
The significant drop-off due to the COVID-19 pandemic affects the global industrial sector like the food & beverages industry, construction industry, and other contact-intensive manufacturing industries. Barriers to the supply chain, lack of raw material, industry closing, and an obstacle to the sales network temporarily dashed growth expectations of the industrial pump market.
However, when infection curves started to flatten starting in 2022, industrial production activity resumed in significant markets. As a result, FMI’s Asia Pacific Industrial Pumps demand projection predicts a CAGR of 4.7% by 2032.
The Asia Pacific region's improving economic conditions are anticipated to present great potential prospects for regional industrial pump manufacturers, as the manufacturing, construction, and energy sectors are predicted to experience significant expansion in the coming years.
The demand for industrial pumps in the Asia Pacific region is being driven by rising investments in infrastructure projects for buildings and water supplies, as well as by a steady increase in the urbanization and industrialization. The growing number of industries in the countries like India, Australia, and New Zealand in the Asia Pacific region is creating opportunities for industrial pump manufacturers to grow. sectors like mining, pulp, and paper production, food, and beverage manufacturing, and power generation, as well as end-use industries like chemical, Oil & gas, and wastewater treatment facilities, this has led to an increase in the use of industrial pumps.
However, growing urbanization and rising demand for these types of industrial applications and operations will continue the growth of the Asia Pacific Industrial Pumps market's growth trajectory.
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Stringent government regulations about the environment, are somewhat limiting the Asia Pacific Industrial Pumps market's growth. The number of industrial pumps used in various industries has different horsepower, liquid discharge capacity, and efficiency which depend upon plant capacity. This pump is regularly active at the plant site on continuous process plant, due to which there is continuous carbon emission is occurring at that region for that respective operation.
Most of the industrial pumps which are engine driven are runs off with the use of gasoline or diesel. Due to this fuel system, the pump is led to emit harmful emissions throughout its running time. This may lead to adverse action on environmental bodies around the industry. This factor may hinder the industrial pump market to grow.
Furthermore, Industrial pumps either engine-driven or electric-driven is required regular and time-to-time maintenance for their smooth and continuous operation. However, heavy-duty pumps or say, pumps of more efficiency is required more maintenance sometimes for efficient and secure operations. This factor can also hamper the industrial pump market to grow.
Geographically, the market is sub-segmented into fourteen countries namely India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Indonesia, Singapore, Philippines, Vietnam, Indonesia, and Thailand. Among all of these countries, China and Japan are among the top nations in terms of industrial and manufacturing output sectors, collectively accounting as a prominent contributor to the total industrial pump market in 2021.
However, India is expected to register the highest CAGR after China and Japan followed by South Korea. The growth in India is supported by the rise in industries and construction of big infrastructure projects along with the rise in water infrastructure with constant expansion of access to water supply in the country’s small villages and growing urban areas. This operation has led to an increment in using of industrial pumps across the country.
Similarly, the manufacturing sector is the backbone of the South Korean economy, 30% of its GDP is from the industrial sector of the country. The development of the heavy and chemical industry is consistently increasing in the country in the past few years. This growth in the manufacturing sector is lead to more consumption of industrial pumps in the country.
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Key players operating in the Asia Pacific Industrial Pumps market include Grundfos Holding A/S, Flowserve Corporation, Sulzer Ltd., Ebara Corporation, Kirloskar Brothers Limited, KSB SE & Co. KGaA, Pleuger Industries, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd., WILO SE, Xylem Inc.
The Asia Pacific Industrial Pumps market is highly consolidated, with a limited number of large-scale vendors having the lion's share. The majority of companies in the industrial pump market invest a large amount of money in detailed research and development, mostly to create new and improved products. The primary strategies taken by the key players in the industrial pump market are product expansion and mergers and acquisitions.
They also engage in mergers and acquisitions and collaborations while obtaining regulatory permissions.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Product Type, Drive Mechanism, End Use, Countries |
| Region Covered |
Asia Pacific |
| Key Countries Covered |
India, China, Japan, South Korea, Australia, New Zealand, ASEAN |
| Key Companies Profiled |
Grundfos Holding A/S; Flowserve Corporation; Sulzer Ltd.; Ebara Corporation; Kirloskar Brothers Limited; KSB SE & Co. KGaA; Pleuger Industries; The Weir Group PLC.; Tsurumi Manufacturing Co., Ltd.; WILO SE; Xylem Inc. |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Asia Pacific Industrial Pumps market reached over US$ 22.8 Bn.
During the forecast period, the Asia Pacific Industrial Pumps market is estimated to expand at a CAGR of 4.7% during 2022-2032.
The Asia Pacific Industrial Pumps market is projected to reach US$ 39.3 Bn by the end of 2032.
India is projected to lead the Asia Pacific Industrial Pumps market in the forecast period.
The key players operating in the Asia Pacific Industrial Pumps market are Grundfos Holding A/S, Flowserve Corporation, Sulzer Ltd., Ebara Corporation, Kirloskar Brothers Limited, KSB SE & Co. KGaA, Pleuger Industries, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd., WILO SE, Xylem Inc.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Asia Pacific Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Asia Pacific Market Analysis and Forecast
6.1. Product Type
6.2. Drive Mechanism
6.3. End Use
7. Asia Pacific Market Analysis and Forecast, By Product Type
7.1. Centrifugal Pump
7.2. Reciprocating
7.3. Rotary
7.4. Others
8. Asia Pacific Market Analysis and Forecast, By Drive Mechanism
8.1. Engine Driven
8.2. Electric Driven
9. Asia Pacific Market Analysis and Forecast, By End Use
9.1. Oil & Gas
9.2. Chemicals
9.3. Power Generation
9.4. Water & Wastewater
9.5. General Industry
10. Asia Pacific Market Analysis and Forecast, By Region
10.1. India
10.2. China
10.3. Japan
10.4. South Korea
10.5. Australia
10.6. New Zealand
10.7. ASEAN
11. India Sales Analysis and Forecast, by Key Segments and Countries
12. China Sales Analysis and Forecast, by Key Segments and Countries
13. Japan Sales Analysis and Forecast, by Key Segments and Countries
14. South Korea Sales Analysis and Forecast, by Key Segments and Countries
15. Australia Sales Analysis and Forecast, by Key Segments and Countries
16. New Zealand Sales Analysis and Forecast, by Key Segments and Countries
17. ASEAN Sales Analysis and Forecast, by Key Segments and Countries
18. Sales Forecast by Product Type, Drive Mechanism, and End Use for 30 Countries
19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
20. Company Profile
20.1. Grundfos Holding A/S
20.2. Flowserve Corporation
20.3. Sulzer Ltd.
20.4. Ebara Corporation
20.5. Kirloskar Brothers Limited
20.6. KSB SE & Co. KGaA
20.7. Pleuger Industries
20.8. The Weir Group PLC.
20.9. Tsurumi Manufacturing Co. Ltd.
20.10. WILO SE
20.11. Xylem Inc.
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Asia Pacific Industrial Pumps Market
