Industrial Pump Market

Industrial Pump Market Outlook (2024 to 2034)

The global industrial pump market is expected to be valued at USD 68.0 billion by 2024 and rise to USD 113.5 billion by 2034. The market size is expected to develop at a CAGR of 5.3% during the forecast period.

The industrial pump market is growing globally due to increasing industrialization, infrastructure development, and water and wastewater treatment solutions demand. This report analyzes the industrial pump market in the United States, the United Kingdom, Japan, China, and South Korea.

Attributes	Key Statistics
Expected Base Year Value (2024)	USD 68.0 billion
Anticipated Forecast Value (2034)	USD 113.5 billion
Estimated Growth (2024 to 2034)	5.3% CAGR

Key Market Drivers

• Industrialization in developing economies drives the demand for industrial pumps across various manufacturing, construction, and mining sectors.
• The increasing focus on water conservation and stringent regulations regarding wastewater treatment is driving the demand for industrial pumps used in water supply, sewage treatment, and desalination plants.
• The growth of the oil and gas industry, particularly in offshore exploration and production activities, is fueling the sales of industrial pumps used in crude oil transportation, refining, and petrochemical processing.
• Ongoing pump technology advancements drive market growth by offering improved performance, reliability, and cost-effectiveness.
• The chemical and pharmaceutical industries require specialized pumps for handling corrosive chemicals, solvents, and pharmaceutical ingredients, driving demand for industrial pumps tailored to meet their stringent requirements.
• Infrastructure development initiatives drive the demand for industrial pumps globally in various construction and infrastructure projects.
• The increasing emphasis on energy efficiency and sustainability leads to adopting energy-efficient pump technologies, including variable frequency drives (VFDs) and high-efficiency pumps, to reduce energy consumption and operating costs.

Consumption Analysis of the Industrial Pump Market

• Efficiency is a priority for industries, and they prefer industrial pumps that offer high efficiency, reliability, and durability. This helps optimize processes, reduce downtime, and minimize operational costs.
• Industrial pump manufacturers are expanding their sales efforts globally. They are capitalizing on emerging opportunities in developing economies and strategic partnerships to penetrate new markets.
• The adoption of advanced pump technologies is increasing. Energy-efficient pumps, variable frequency drives (VFDs), and smart pump systems are becoming popular.
• The need for improved performance, energy savings, and predictive maintenance capabilities drives this.
• With growing concerns over water scarcity and environmental regulations, there is a rising demand for industrial pumps used in water supply, wastewater treatment, desalination, and irrigation systems.
• Industries seek customizable pump solutions tailored to their specific applications and operating conditions. This drives innovation and specialization among pump manufacturers.

Restraining Factors Adversely Affecting the Industrial Pump Market

While the industrial pump market is experiencing growth, several restraining factors can adversely affect its development and expansion. These include:

• The global economy is constantly in flux, with recessions and currency fluctuations common occurrences. These conditions can significantly impact industrial investment decisions, reducing demand for industrial pumps.
• While industrial pumps are essential for numerous businesses, the initial cost of purchasing and installing them can be intimidating, especially for small and medium-sized enterprises (SMEs).
• Industrial pumps require regular maintenance, repair, and energy consumption, which can add to significant operational costs. This can strain budgets and reduce profitability, particularly for older or inefficient pump systems.
• Technological advancements in the pump industry are occurring rapidly, and it can take time for businesses to keep up with them.
• Regulatory compliance is becoming increasingly important in the modern business landscape, particularly regarding environmental protection, worker safety, and energy efficiency. Businesses that fail to comply with these regulations can face steep fines and penalties, impacting their bottom line.
• The industrial pump market is highly competitive, with manufacturers offering various pump types and technologies.

Category-wise Insights

Attributes	Details
Product	Centrifugal Pump
CAGR (2024 to 2034)	5.1%

Centrifugal Pumps are a Versatile and Efficient Option for Various Industrial Applications

Based on the product, centrifugal pumps dominate the global industrial pump market with a 5.1% CAGR through 2034. This rise is attributable to:

• Centrifugal pumps can handle multiple fluids, including water, chemicals, and petroleum products, making them suitable for applications in water supply, wastewater treatment, irrigation, and fluid transfer tasks.
• Centrifugal pump's simple design with fewer moving parts reduces maintenance requirements and enhances reliability, making it a popular choice across industries.
• Centrifugal pumps offer several advantages over alternative pump types, including lower initial costs, higher flow rates, and smoother operation.
• Centrifugal pumps can accommodate different flow rates and pressure requirements, making them suitable for small-scale and large-scale industrial applications.
• Advancements in centrifugal pump technology have further improved their performance, energy efficiency, and durability, consolidating their position as the top choice in the industrial pump market.

Inclination toward Online Distribution Channels Grows Due to Unparalleled Advantages to Buyers and Sellers

Attributes	Details
Distribution Channel	Online
CAGR (2024 to 2034)	4.9%

Based on the distribution channel, online dominates the global industrial pump market with a 4.9% CAGR through 2034. This rising popularity is attributed to:

• The convenience and accessibility of online platforms are provided to buyers, who can easily browse and compare pump products, make purchases from anywhere and at any time, and access details about the products they are interested in.
• Online platforms provide greater transparency, information accessibility, and value-added services such as technical support and after-sales service, increasing trust and confidence in online transactions.
• For sellers, online channels offer a cost-effective way to reach a wider audience, streamline inventory management, and reduce overhead costs.

Country-wise Insights

The section analyzes the global industrial pump market in the United States, the United Kingdom, China, Japan, and South Korea. The table presents the CAGR for each country, indicating the expected trajectory in that country through 2034.

Countries	CAGR
The United States	5.4%
The United Kingdom	6.4%
China	5.6%
Japan	6.7%
South Korea	6.2%

United States Benefits from a Robust Manufacturing Sector, Technological Innovation, and Strong Demand from Various Industries

The United States dominates the global industrial pump market in the North American region. The market in the United States is predicted to exhibit an annual growth rate of 5.4% until 2034.

• American pump manufacturers are renowned for their advanced technologies and engineering expertise, enabling them to produce high-quality pumps tailored to diverse industrial requirements.
• With their global competitiveness, these manufacturers continue to innovate and develop cutting-edge pumps that cater to the evolving needs of industries.

Engineering Excellence in Oil and Gas, Water Management, and Pharmaceuticals Boosts Sales in the United Kingdom

The United Kingdom is the leading European country in the global industrial pump market, and is predicted to register an annual growth rate of 6.4%.

• United Kingdom-based pump manufacturers have a skilled and knowledgeable workforce, strong R&D capabilities, and a reputation for quality and reliability, which positions them as preferred suppliers in the global market.
• Manufacturers produce innovative, high-quality pumps well-suited for various industrial applications, and their continued focus on research and development ensures that they remain at the forefront of the industry.

Industrial Pump Market in China thrives on Burgeoning Industrialization

The market in China is anticipated to register a CAGR of 5.6% through 2034.

• China's industrialization, infrastructure development, and increasing investments in water treatment, construction, and manufacturing sectors fuel the expansion of the industrial pump market.
• Chinese pump manufacturers leverage cost advantages, scale production capabilities, and government support to offer competitively priced pumps to domestic and international markets, driving global growth.
• Manufacturers are revolutionizing the industry by providing innovative and reliable pump solutions catering to the needs of various sectors. Their continued focus on research and development has enhanced their global competitiveness.

Japan's Technological Prowess and Focus on Quality Aids Market Expansion

The market in Japan is anticipated to register a CAGR of 6.7% through 2034.

• Japan specializes in high-precision pumps for electronics, automotive, and pharmaceutical industries.
• Japanese pump manufacturers are renowned for their expertise in developing innovative pump technologies, meeting stringent quality standards, and providing reliable solutions that cater to industries' diverse needs.
• By focusing on research and development, these manufacturers continue to innovate and develop cutting-edge pumps that meet the evolving needs of industries.

South Korea's Advanced Manufacturing Capabilities in Electronics, Automotive, and Shipbuilding Surges Product Sales

The market in South Korea is anticipated to register a CAGR of 6.2% through 2034.

• Korean pump manufacturers leverage automation, robotics, and precision engineering to develop cutting-edge pump solutions that cater to the evolving needs of global industries.
• Manufacturers are renowned for their innovative and reliable pump solutions, and their focus on research and development ensures that they remain at the forefront of the industry.

Competitive Landscape

The industrial pump market is witnessing global growth driven by key players such as Grundfos, KSB Group, Xylem Inc., Sulzer Ltd., and Flowserve Corporation. To meet evolving industry demands, these companies invest heavily in research and development to develop advanced pump technologies that offer improved efficiency, reliability, and sustainability.

Besides expanding their geographical footprint through acquisitions, partnerships, and distribution agreements, these companies prioritize customer-centric approaches. They offer value-added services such as technical support, aftermarket services, and digital solutions to enhance customer satisfaction and drive long-term growth.

The key pump manufacturers are committed to implementing sustainable practices to reduce environmental impact. They are working to improve supply chain efficiency, reduce costs, improve delivery times, and enhance customer satisfaction.

Due to these strategic initiatives and the increasing demand for reliable and efficient pumping solutions across various industries, the global industrial pump market is expected to continue its growth trajectory in the coming years.

Recent Developments

• On January 29, 2024, SPX FLOW launched the Universal 2nd (U2ND) Positive Displacement Pump Series under its Waukesha Cherry-Burrell (WCB) brand, catering to industrial users' needs. This series, renowned for quality and durability, optimizes costs and suitability for the industrial market, effectively addressing industry demands.
• On November 3, 2023, DXP Enterprises, Inc. successfully concluded the acquisition of Alliance Pump & Mechanical Service, Inc. Utilizing cash reserves, DXP acquired Alliance, a prominent player in municipal and industrial pump sales, service, and repair.
• On August 22, 2023, Atlas Copco finalized the acquisition of Sykes Group Pty Ltd. from Seven Group Holdings Ltd., an Australian Securities Exchange-listed company. Sykes, a dewatering pump manufacturer, specializes in pumps primarily used in the mining and wastewater sectors, effectively complementing Atlas Copco's portfolio.

Key Companies in the Market

• Dover Corporation
• Ebara Corporation
• Flowserve Corporation
• Grundfos Holding A/S
• ITT Inc.
• Xylem
• Flowserve Corporation
• WILO SE
• KSB SE & Co. KGaA
• Sulzer Ltd
• Schlumberger Limited
• The Weir Group PLC
• ALFA LAVAL
• Pentair
• IDEX
• Baker Hughes Company
• SPX Flow

Key Coverage in the Industrial Pump Market Report

• Top 10 Industrial Pump Suppliers
• Demand Analysis for Industrial Pump Rental Market
• Strategies for Industrial Pump Manufacturers in India and Coimbatore
• Profiling of the Largest Industrial Pump Manufacturers
• Opportunities for Hydro Innovations in Industrial Pump Market

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product
  • 5.1. Centrifugal Pump
  • 5.2. Axial Flow Pump
  • 5.3. Radial Flow Pump
  • 5.4. Mixed Flow Pump
  • 5.5. Positive Displacement Pump
  • 5.6. Reciprocating
  • 5.7. Rotary
  • 5.8. Others
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel
  • 6.1. Online
  • 6.2. Offline
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
  • 7.1. Oil and Gas
  • 7.2. Chemicals
  • 7.3. Construction
  • 7.4. Power Generation
  • 7.5. Water and Wastewater
  • 7.6. Others
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Market Structure Analysis
• 18. Competition Analysis
  • 18.1. Dover Corporation
  • 18.2. Ebara Corporation
  • 18.3. Flowserve Corporation
  • 18.4. READ MORE
  • 18.5. ITT Inc.
  • 18.6. Iwaki Co. Ltd.
  • 18.7. KSB SE & Co. KGaA
  • 18.8. Schlumberger Limited
  • 18.9. SPX Flow Inc.
  • 18.10. Sulzer Ltd.
  • 18.11. The Weir Group PLC
  • 18.12. Vaughan Co. Inc.
  • 18.13. Xylem Inc.
  • 18.14. Grundfos Holding A/S
• 19. Assumptions & Acronyms Used
• 20. Research Methodology