The global vertical turbine pump market size is projected to reach USD 26.2 billion in 2024. The industry is anticipated to surge at a CAGR of 5% during the forecast period from 2024 to 2034. It is likely to attain a value of USD 44.9 billion by 2034.
Vertical turbine pumps play a crucial role in several industries owing to their high versatility and dependability. These pumps are essential for lifting water from deep sources, transporting it over long distances, and maintaining adequate pressure in the distribution network within the water and sewage control industries. These are hence set to be crucial for ensuring a steady supply of fresh water to communities and end-users.
Effective operation of these pumps assists in optimizing water usage and sustaining crop productivity, further contributing to high food security. These pumps are necessary for tasks like water injection, transportation of crude oil over long distances, and offshore platform operations.
Their sturdy design enables them to withstand harsh operating conditions, making them indispensable for upholding the productivity and safety of the oil and gas industry.
| Attributes | Description |
|---|---|
| Estimated Global Vertical Turbine Pump Market Size (2024E) | USD 26.2 billion |
| Projected Global Vertical Turbine Pump Market Value (2034F) | USD 44.9 billion |
| Value-based CAGR (2024 to 2034) | 5% |
The pumps are also significant for the extraction of water or other liquids from reservoirs or deep wells where normal pumps may not be suitable due to depth restrictions. These offer a practical solution for accessing underground water and other types of liquid sources for various purposes, such as irrigation, city water distribution, and industrial uses.
They are specifically designed to function effectively in challenging environmental conditions, providing high flow rates and pressure capabilities. The multi-stage impeller design of these pumps enables efficient energy conversion, leading to increased effectiveness and reduced operational expenses compared to alternative pump varieties.
In Asia Pacific, countries like India and China are projected to require efficient pumping equipment for smooth water supply, farming, mining, and manufacturing. In North America, a well-established industrial sector and ongoing infrastructure projects contribute to the sales of these pumps.
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The table below projects a comparative assessment of the variation in the estimated CAGR for the vertical turbine pump industry over the semi-annual periods spanning from the base year (2023) to the current year (2024). The examination of the compound annual growth rate showcases the shifts in the performance of the market and reveals revenue realization patterns.
The examination assists organizations in gaining a better understanding of the industry and its growth trajectory over the years. The first half of the year, or H1, spans from January to June. The second half, H2, includes the months from July to December. In the first half (H1) of 2023 to 2033, it witnessed a CAGR of 4.5%, followed by a slight rise in the growth rate during the second half (H2), where the CAGR was estimated to be 4.8%.
| Particular | Value CAGR |
|---|---|
| H1 | 4.5% (2023 to 2033) |
| H2 | 4.8% (2023 to 2033) |
| H1 | 4.9% (2024 to 2034) |
| H2 | 5.1% (2024 to 2034) |
Progressing to the ensuing period, from H1 2024 to H2 2034, the CAGR is anticipated to remain steady at 4.9% in the first half (H1) and then increase slightly to 5.1% in the second half. In the first half (H1), the industry witnessed a decrease of 40 BPS while in the second half (H2), it experienced a surge of 30 BPS.
Integration of 3D Printing and CNC Machining Technologies Bolster Demand
The adoption of mechanical and hydraulic simulation software, alongside advanced manufacturing technologies is significantly influencing the design and production of these turbine pumps. Manufacturers are leveraging 3D printing and CNC machining technologies to refine the internal geometry of pumps, resulting in enhanced operational characteristics and efficiency.
The trend underscores the industry’s commitment to precision engineering, where computational fluid dynamics and finite element analysis play an essential role in testing and optimizing pump designs. The seamless transition from CAD files to 3D printed models ensures the preservation of mechanical and hydraulic characteristics, resulting in highly effective pump performance.
Customization of Vertical Turbine Pumps for Industry-specific Needs is a Key Trend
Offering solutions that are tailored to a specific industry’s requirements is opening up new opportunities for companies. In the field of agriculture, where accurate and sufficient irrigation is crucial, key companies are providing customized pumps with versatile features that guarantee efficient water management.
They are finding solutions to resist harsh conditions, specifically for the oil and gas industry, where durable and dependable pumping is critical. For instance, Grundfos offers customizable pumps that cater to the unique requirements of municipal water treatment, where regulatory compliance and efficiency are crucial.
Taking advantage of significant opportunities is crucial in the ever-changing turbine pump industry. Customizing products to specific fields is proving to be revolutionary. Businesses that use this strategy are leading the charge for innovation, as they have to design certain components for different parameters based on the needs of different industries.
Water Management Challenges in Mining Industry Driving Vertical Turbine Pump Sales
Water management stands out as a key challenge in the mining industry. It plays a decisive role in propelling the demand for these turbine pumps.
As water enters mines through various sources, the risk of flooding looms large. The catastrophic consequences of pump failure, leading to mine inundation and subsequent operational shutdowns, underscore the crucial nature of effective dewatering systems.
The significance of these turbine pumps lies in their effectiveness in mitigating water-related challenges in mining operations. By facilitating efficient dewatering processes, these pumps contribute to maintaining safe and sustainable working environments underground.
The adoption of innovative approaches, such as using submersible pumps on floating platforms, further enhances the reliability and longevity of water management systems in mines. These factors ultimately drive sales of vertical turbine pumps.
Structural Vibration and Resonance Problems Impose Constraints on Growth
Structural vibration arises due to natural frequencies in the machine's operating range. These turbine pumps, characterized by high mass and low stiffness, are prone to resonant conditions, especially when subjected to vibratory forces during operation.
The utilization of variable speed drives further aggravates these issues. This is because adjusting the pump's rotating speed increases the likelihood of encountering natural frequencies, leading to resonant conditions.
Diagnosing and addressing these challenges requires sophisticated vibration analysis. This task is often daunting for maintenance professionals lacking specialized expertise. Correcting structural vibration and resonance issues in these turbine pumps demands a methodical approach. Beyond basic analysis, additional tests such as operating deflection shapes (ODS) and modal analysis become essential.
Maintenance Complexities due to Submersible Design to be a Key Restraint
The vertical turbine pump industry encounters a substantial restraint in the form of maintenance complexities. These restraints stem from the submersible design of these pumps.
The inherent challenges associated with submersible configurations contribute to increased downtime, operational disruptions, and high maintenance costs. All of these pose a notable impediment to growth.
The submersible design, while advantageous in certain applications, presents challenges during maintenance activities. Accessibility is a primary concern when the pump components are submerged, requiring specialized equipment and skilled personnel for inspection and repair.
The intricate nature of submersible systems demands meticulous planning and execution of maintenance procedures, contributing to extended downtimes that can adversely impact operational efficiency.
Principal Consultant
The global vertical turbine pump market grew at a CAGR of 3.6% between 2019 and 2023. Vertical turbine pump sales around the globe witnessed moderate growth between 2019 and 2023. The reason behind this was the rapid growth of end-use industries and infrastructure development projects worldwide. Industries, such as water and wastewater management, oil and gas, farming, and mining mainly relied on turbine pumps for their critical operations.
Several industries had an increasing requirement for these pumps, which contributed to the growth in overall sales. Increasing concerns about water shortage and the requirement for effective water management solutions also made turbine pumps a crucial product. These pumps were primarily used for water extraction and distribution, particularly in farmlands and urban areas facing water challenges.
The vertical turbine pump market analysis estimates the value to reach USD 26.2 billion in 2024. It is projected to rise at a CAGR of 5% during the forecast period and attain a value of USD 44.9 billion by 2034.
Over the forecast period, demand for these turbine pumps on a global scale is set to experience robust growth. Investments in infrastructure development activities and rising demand from various manufacturing facilities are anticipated to be key driving factors in bolstering sales of these pumps across the globe.
Improvements in pump designs and advancements in technology, including enhancements in efficiency, reliability, and smart features, are likely to make these pumps appealing to consumers.
Manufacturers are projected to focus on creating innovative pump designs. They are planning to deliver superior performance, reduce energy consumption, and promote remote monitoring capabilities to meet varying consumer requirements and strict norm compliance.
Rising population worldwide is likely to create a high need for vertical turbine pumps for city water supply, wastewater treatment, and buildings. Vertical turbine pumps are projected to become a leading choice due to their high capacity, effectiveness, and suitability for urban infrastructure use, thereby increasing sales.
Tier 1 companies comprise key leaders with a revenue of above USD 50 million. They capture a significant market share of 30% to 35% globally. These leaders are characterized by high production capacity and a wide product portfolio.
Companies in Tier 2 are distinguished by their expertise in manufacturing and a broad geographical reach, underpinned by a robust consumer base. Renowned companies in Tier 1 include Trillium Flow Technologies, Peerless Pumps, Grundfos, Flowserve, Sulzer, Ruhrpumpen, Xylem, KBL, Taco Inc, Pentair, ITT INC., KSB SE & Co. KGaA, Ebara Corporation, The Weir Group PLC, Wilo, and Tsurumi Manufacturing Co., Ltd.
Tier 2 includes a large portion of medium-sized companies operating at the local level and serving niche industries. These companies are oriented toward fulfilling the demand from the local market and are hence classified under the Tier 2 segment.
Tier 3 consists of regionally based small-sized players. These enterprises have limited geographical reach. Tier 3, within this context, is recognized as an unorganized segment, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
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The section below offers businesses an overview of the industry on a country-by-country basis. It comprises a detailed examination of the upcoming trends and opportunities. This country-specific examination of the dynamics is likely to assist businesses in understanding the complex environment of the sector.
The examination consists of key factors, potential challenges, and forecasts influencing the demand, production, and consumption of the product within each country. This section aims to assist organizations in making informed decisions and developing effective strategies customized to individual countries.
ASEAN is estimated to emerge as a dominating country during the forecast period with a projected CAGR of 7% through 2034. India, Japan, and China are anticipated to follow behind ASEAN to become significant countries with anticipated CAGRs of 6.8%, 6.4%, and 6.2%, respectively.
| Countries | CAGR 2024 to 2034 |
|---|---|
| ASEAN | 7% |
| India | 6.8% |
| Japan | 6.4% |
| China | 6.2% |
| Brazil | 6% |
The United States vertical turbine pump industry is projected to reach a value of USD 7.1 billion by 2034. Increasing importance of water management in the country is a key driver propelling growth.
The government of the United States is focusing on addressing the global water crisis and enhancing water management through various initiatives, such as the 2022 to 2027 United States Global Water Strategy. These factors are set to propel the requirement for effective and reliable pumping solutions.
Vertical turbine pumps play a vital role in water infrastructure, particularly in managing water resources for agricultural, municipal, and industrial purposes. These pumps are ideal for situations where a reliable water supply is crucial.
They offer adaptability in handling different water levels. The growing focus on achieving water security, as outlined in the White House Action Plan on Global Water Security, further emphasizes the significance of strong pumping systems.
Aligning with the United States Agency for International Development’s (USAID) commitment to providing an additional 22 million individuals with access to clean drinking water and sanitation under the 2022 to 2027 Strategy, vertical turbine pumps are integral components of water supply projects in the country.
Their ability to lift water from deep wells lines up aptly with the goal of expanding access to safe drinking water, particularly in areas facing water scarcity or contamination challenges.
Sales of vertical turbine pumps in China are projected to soar at a CAGR of 6.2% during the assessment period. It is one of the dominating countries in agricultural production worldwide.
The country, therefore, faces the imperative of optimizing its water resource management to sustain the vast agriculture sector amid water scarcity and uneven distribution of water sources. In response to these challenges, China has implemented ambitious projects aimed at upgrading and modernizing its irrigation system.
Despite covering just a fifth of arable land, irrigated farms contribute to 40% of the nation's food production. China boasts the world's most prominent irrigated area, with more than half of its farmland benefiting from irrigation.
The practice supports the growth of 75% of food crops and 90% of economic crops in the country. This extensive irrigation, however, also accounts for a substantial portion of around 63% of China's total water usage.
The country has a pressing need for efficient irrigation systems and equipment like vertical turbine pumps to sustain agricultural productivity amid ongoing modernization efforts. This is attributed to the vital role of irrigation water in crop growth and yield, particularly in areas prone to water scarcity and extreme weather events.
Vertical turbine pumps have become essential components in this modernization effort due to their exceptional capabilities in efficiently lifting water from underground resources to provide irrigation benefits. With their ability to handle high flow rates and lift water across long distances, these are perfectly suited to meet the demands of China's diverse agriculture sector.
The vertical turbine pump market in India is expected to rise at a CAGR of 6.8% during the forecast period. The country’s massive agricultural lands have created a growing demand for robust lift irrigation.
The country is heavily investing in lift, drip, and micro-irrigation projects. The Government of India is also supporting this development through budget allocations and subsidies, further boosting the demand for vertical turbine pumps.
The country is undergoing rapid industrialization and infrastructure development. India is therefore witnessing a rising demand for pumps with high discharge. At the same time, increasing development of power generation and sewage treatment plants is likely to positively influence demand.
The section below provides organizations with insightful data and analysis of the two leading segments. Segmentation of these categories would help companies understand the dynamics and invest in the beneficial zones.
Examination of the growth of the segments enables businesses to gain a better understanding of the current trends, opportunities, and challenges. This analysis is likely to help companies navigate the complex business environment and make informed decisions.
In terms of head type, the 500 to 2000 m segment is estimated to dominate with a value CAGR of 5.3% from 2024 to 2034. Oil and gas is projected to emerge as the leading end-use category with a value CAGR of 4.6% in the same period.
| Segment | 500 to 2000 m (Head Type) |
|---|---|
| Value CAGR (2024 to 2034) | 5.3% |
The demand for vertical turbine pumps with heads ranging from 500 to 2000 m is estimated to rise in the forecast period at a CAGR of 5.3%. The segment is projected to hold a significant share of 54.7% in 2024.
The pumps with the aforementioned head type are set to be ideal for various applications, including supplying water to municipalities and facilitating industrial processes. These also offer the necessary head capacity required for efficient fluid transfer and distribution, thereby fueling sales.
| Segment | Oil and Gas (End-use Industry) |
|---|---|
| Value CAGR (2024 to 2034) | 4.6% |
In terms of the end-use industry, the oil and gas segment is projected to thrive at a CAGR of 4.6% during the forecast period. The United States along with a few Gulf countries are global leaders in oil production.
They often face unique challenges in refining crude oil, necessitating the importation of specific oil types. This highlights a crucial aspect that underlines the continued significance of vertical turbine pumps across the industry.
The oil and gas industry witnesses a paradigm shift as the United States extends its influence in the global LNG market. These turbine pumps have emerged as essential components in liquefied natural gas (LNG) processing, contributing to the increasing trend of LNG exports.
This diversification in the energy landscape underscores the versatility of these pumps, as their applications extend beyond traditional oil extraction to accommodate the evolving needs of the industry.
Key players in the global vertical turbine pump market are Trillium Flow Technologies, Peerless Pumps, Grundfos, Flowserve, Sulzer, Ruhrpumpen, Xylem, KBL, Taco Inc., Pentair, ITT INC., KSB SE & Co. KGaA, Ebara Corporation, The Weir Group PLC, Wilo, and Tsurumi Manufacturing Co., Ltd. The market is moderately consolidated, with leading players accounting for about 30% to 35% of the share.
Companies are acquiring small-scale firms to expand their product offerings, enter new areas, and strengthen their position in existing markets. Expanding into new industries or geographic locations can reduce dependence on specific industries and mitigate risks associated with economic fluctuations or regulatory changes.
For instance, Pleuger's acquisition of AVI International demonstrates a strategic move to bolster its presence in North America. By acquiring AVI, the former gains access to new industries, such as power generation, marine, wastewater treatment, and manufacturing, thereby enhancing its overall reach.
Manufacturers are investing in research and development activities to bring innovation to their in-house turbine pumps. They are progressively working toward integrating sustainable practices in their production process, which is making their products appealing to eco-conscious consumers.
A few companies are rapidly engaging in mergers and acquisitions to gain a strong foothold in the industry. They are exploring the potential of these pumps in niche end-use industries. Long-term success in the market relies on staying updated and adhering to regulations mandated by specific countries.
Industry Updates
Based on head type, the industry is divided into up to 500 m, 500 to 2000 m, and 2000 m and above.
By material type, the industry is segmented into ductile iron, stainless steel, bronze, and cast iron pumps.
Based on stage, the industry is divided into single-stage and multi-stage.
By power rating, the industry is segmented into low power (up to 1500 HP), medium power (1500 to 4000 HP), and high power (4000 HP and above).
A few leading end-use industries are residential, commercial, agriculture, firefighting, municipal, and industrial. The industrial segment is further segregated into chemicals, pharmaceuticals, oil and gas, power generation, cement, mining, and others.
The industry is spread across North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, and the Middle East and Africa.
It is a centrifugal pump created to assist in areas that do not have sufficient pressure systems
The industry is expected to reach USD 26.2 billion in 2024
The market is projected to reach USD 44.9 billion by 2034
Trillium Flow Technologies, Peerless Pumps, Grundfos, Flowserve, and Sulzer are the key manufacturers
ASEAN is estimated to lead with a CAGR of 7% through 2034
The industry is anticipated to grow at a CAGR of 5%
A vertical pump is used for transporting water from deep underground pits or wells
India is projected to showcase a 6.8% CAGR through 2034
The pumps provide high flexibility across a wide range of industries
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. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Stage 6.2. End use 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Stage 7.1. Single Stage Vertical Turbine Pumps 7.2. Multi-Stage Vertical Turbine Pumps 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End use 8.1. Agriculture & Irrigation 8.2. Power Generation 8.3. Oil & Gas 8.4. Municipal 8.5. General Industry 8.6. Chemical 8.7. Mining 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. South Asia 9.5. East Asia 9.6. Eastern Europe 9.7. Middle East & Africa 10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Sales Forecast 2024 to 2034 by Stage and End use for 25 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. National Pump Company 19.2. Grundfos Pumps Corporation 19.3. Pentair Aurora Pump 19.4. Simflo Pump 19.5. Process Systems 19.6. Neptuno Pumps Ltda 19.7. Sintech Precision Products Ltd. 19.8. Xylem 19.9. Flowserve 19.10. Ruhrpumpen 19.11. Kirloskar Brothers Limited 19.12. ITT INC. 19.13. Gusher Pumps 19.14. Hydroflo Pumps 19.15. Sulzer 19.16. CNP PUMPS INDIA PVT. LTD 19.17. C.R.I. Pumps Private Limited 19.18. Hydroflo Pumps 19.19. Sulzer 19.20. Grundfos
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Vertical Turbine Pump Market
