26-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Industrial Pump Market By Product (Centrifugal Pumps, Positive Displacement Pumps, and Others) and By Application (Oil & Gas, Chemicals, Construction, Power, Water & Wastewater Treatment, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global industrial pump market in 2019 was approximately USD 62.8 billion. The market is expected to grow at a CAGR of 5.9% and is anticipated to reach around USD 93.5 billion by 2026.
Increasing spending on infrastructure development in several regions is expected to positively impact market growth in the upcoming years. Rising technological advances are also anticipated to fuel market growth over the forecast period. Increasing demand for industrial end-use pumps, combined with advanced plants, is expected to increase market demand over the forecast period. Due to the rising demand from the end-use industries, fluctuations in the component prices of industrial pumps are expected to influence capital expenditure in the upcoming years. Strengthening investment by industry leaders in strategic activities such as mergers and acquisitions to advance minimal-cost production processes is expected to raise demand for industrial pumping systems.
Browse the full “Industrial Pump Market By Product (Centrifugal Pumps, Positive Displacement Pumps, and Others) and By Application (Oil & Gas, Chemicals, Construction, Power, Water & Wastewater Treatment, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/industrial-pump-market-by-product-centrifugal-pumps-positive-971
Demand for centrifugal industrial pumps is projected to grow in developed nations, including the US and Canada, due to the boom in hydraulic fracturing in the oil and gas industries. Considering the availability of easy suppliers, the high visibility of centrifugal pumps in the manufacturing sector is expected to remain a positive factor for market growth. Over the forecast period, the segment of positive displacement industrial pumps is projected to grow at the fastest CAGR. The industry dominated the water and wastewater treatment application segment, accounting for a revenue share of 26.5 percent in 2019. In recent years the water and wastewater industry has grown due to urbanization, population growth, and increased manufacturing activities. It is anticipated that the oil & gas segment will grow at a fast pace in the upcoming years due to the growing demand for crude oil for the purpose of production centers, overseas logistics as well as domestic transports. Hence it is expected that these factors will boost the market.
The Asia Pacific is expected to dominate the market as end-use industries, including wastewater treatment, water treatment, and oil and gas are growing considerably. The rising share of revenue in the Asia Pacific in 2019 was more than 47.2 percent. The population growth in countries like India and China, combined with an increasing manufacturing sector, is expected to remain a significant factor for the industry over the forecast period. As a result of the growing demand for pumps from various global end-users for industries, including food and beverages and petrochemicals as well as chemicals, Europe was the second most important regional market with a revenue share of over 20.1 percent in 2019. Strict regulations are anticipated to be crucial for decreasing the water pollution in the domestic sector to increase demand for civic and commercial water treatment and therefore boost demand for industrial pumps in the upcoming years.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 62.8 billion |
Projected Market Size in 2026 |
USD 93.5 billion |
CAGR Growth Rate |
5.9% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Colfax Corporation, GRUNDFOS, ITT INC., Franklin Electric, Sulzer Ltd., Vaughan Company, HERMETIC-Pumpen GmbH, DESMI A/S, SPECK Pumpen Verkaufsgesellschaft GmbH, Klaus Union, CP Pumpen AG, AR North America, Global Pump, Haight Pumps, Iwaki America Inc., Roper Technologies, Inc., Flowserve Corporation, SPX FLOW, SEKO S.p.A, SUMMIT PUMP, Inc., KRACHT Corp. and Others. |
Key Segment |
By Type, By Application, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the key players of the industrial pump market are Colfax Corporation, GRUNDFOS, ITT INC., Franklin Electric, Sulzer Ltd., Vaughan Company, HERMETIC-Pumpen GmbH, DESMI A/S, SPECK Pumpen Verkaufsgesellschaft GmbH, Klaus Union, CP Pumpen AG, AR North America, Global Pump, Haight Pumps, Iwaki America Inc., Roper Technologies, Inc., Flowserve Corporation, SPX FLOW, SEKO S.p.A, SUMMIT PUMP, Inc., KRACHT Corp., and Others.
This report segments the industrial pump market as follows:
Global Industrial Pump Market: By Product Segmentation Analysis
- Centrifugal Pumps
- Positive Displacement Pumps
- Others
Global Industrial Pump Market: By Application Segmentation Analysis
- Oil & Gas
- Chemicals
- Construction
- Power
- Water & Wastewater Treatment
- Others
Global Industrial Pump Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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