Industrial Pumps Market Size, Share & Trends Report

Industrial Pumps Market Size, Share & Trends Analysis Report By Product (Centrifugal Pump, Positive Displacement Pump), By Application (Water & Wastewater, Chemicals, Construction), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-325-6
  • Number of Pages: 152
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the industrial pumps market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for industrial pumps market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of industrial pumps market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Industrial Pumps Market Categorization:

The industrial pumps market was categorized into three segments, namely product (Centrifugal Pump, Positive Displacement Pump), application (Oil & Gas, Chemicals, Construction, Power Generation, Water & Wastewater), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The industrial pumps market was segmented into product, application, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The industrial pumps market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fourteen countries, namely, the U.S.; Canada; Mexico; Germany; France; Italy; the UK; China; Japan; India; Brazil; Argentina; UAE; Saudi Arabia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Industrial pumps market companies & financials:

The industrial pumps market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Grundfos Holding A/S - Located in Bjerringbro, Denmark, Grundfos Holding A/S was founded in 1945. Producing centrifugal, submersible, and circulator pumps, the mechanical engineering firm is regarded as one of the biggest pump producers globally. A vast array of products is available across multiple categories, including but not limited to pumps, services, agitators, mixing loops, disinfection systems, water dispenser systems, digital dosing pumps, fire systems, lift stations, pressure managers, water treatment systems, measurement & control, mechanical dosing pumps, pump motors, solutions, sensors, and accessories. Utilizing rainwater collection and household water supply, air conditioning, oil and gas, wastewater treatment, and pressure boosting are just a few of the industries that use the company's products. Through 83 active businesses globally, the corporation has a large network of partners, distributors, and sub-dealers that are directly reachable in around 56 countries. 19,221 employees were employed by the corporation throughout all of its facilities as of December 2020, serving and keeping a large customer base across all mechanical sectors.

  • Xylem - Established in 2011, Xylem's headquarters are located in New York, USA. This multinational water technology corporation designs and develops cutting-edge technical solutions to address pressing worldwide water issues. Services and solutions, measurement, and use of drinking water for the collection, testing, analysis, and treatment of water under customer demands are all included in the company's product line. In the application areas of treatment, transport, smart metering, digital solutions, infrastructure evaluations, condition assessments, and leak detection in residential, commercial, and industrial processes, the firm has established a distinct market positioning. With a large client base spanning over 150 countries, it is served by a unique worldwide distribution network made up of direct sales representatives and independent channel partners. The firm provides a range of products made to tackle the difficulties and needs of treating water and wastewater. It offers complete services and solutions supported by an integrated portfolio to guarantee the treated water continues to function at its peak. Among the goods and services provided by the firm are pumps and packaged pump systems, analytical instruments and equipment, hydro turbines, hydronic and steam heating, light and electricity, and others. By the end of 2020, it employed about 16,700 people worldwide.

  • Ingersoll Rand - Founded in 1872, Ingersoll Rand's headquarters are located in North Carolina, USA. The firm offers four main product lines: high-pressure solutions, speciality vehicle technologies, precision and scientific technologies, and industrial technologies and services. Aerospace, chemicals, plastics & rubbers, consumer, electronics & semiconductors, environmental, food & beverage, general manufacturing, government & military, industrial gases, marine, oil & gas, power generation, PET bottle blowing, and water & wastewater treatment are just a few of the industries to which the company supplies its goods. The firm sells its goods under many names, such as Runtech Systems, Nash, CompAir, Gardner Denver, ARO, Thomas, Emco Wheaton, and Evolution. Under the ARO brand, the firm offers industrial pump equipment. The firm employed over 16,000 people worldwide as of September 2020.

  • Flowserve Corporation - The U.S. company Flowserve Corporation was founded in 1997 and has its headquarters in Texas. Durco International and BW/IP, two well-known, industry-leading fluid control and motion firms, merged to establish the new company. It produces carefully designed flow control devices for material transportation, protection, and management. Pumps, valves, automation, seals, aftermarket services, and support for water management, oil and gas, chemical power generation, and general industrial markets are among the products offered by the firm. It offers a broad variety of aftermarket equipment services, such as sophisticated diagnostics, installation, repair, and retrofitting of the relevant equipment, by utilizing a worldwide network of rapid response centres (QRC) and other manufacturing platforms. With a broad global reach, the company's product selection and services are utilized by over 10,000 businesses, including top engineering, procurement, and construction (EPC) firms, OEMs, distributors, and end users. Centrifugal, specialty, and positive displacement pump systems are provided by Flowserve Pumps for the hydrocarbon and chemical processing, oil and gas, and water resource industries, among other industries. It is essential to the provision of clean energy, as is the use of modern manufacturing techniques and process technologies.

  • SPX Flow - Located in North Carolina, the United States, SPX Flow was founded in 2015. The firm is a multinational supplier of industrial pumps and pumping equipment. For clients to provide improved, high-value process solutions to varied populations, the firm designs and develops its products. Food and beverage and industrial are its two reportable business segments. Hydraulic technology, automated process systems, actuation, and rotation are the company's main product offerings for the food and beverage and industrial industries. Furthermore, its activities are focused on process technologies, which carry out essential tasks for several sectors, such as fluid handling, separation, mixing, blending, thermal heat transfer, and other related activities. The company offers a broad range of pumps, filters, mixers, valves, air dryers, separators, hydraulic tools, homogenizers, heat exchangers, and aftermarket materials and services to support global industries including food and beverage, chemical processing, compressed air, and mining. Bolting Systems, Airpel, Bran+Luebbe, Johnson Pump, Power Team, and other associated companies are just a few of the many brands it services. About 4,800 people were employed by the corporation as of December 31, 2020, and they were spread throughout 34 countries.

  • KSB SE & Co. KGaA - Pumps, valves, and associated services are among the top offerings from KSB SE & Co. KGaA and its subsidiaries. The company's headquarters are in Frankenthal, Germany, where it was founded in 1871. The parent company of the KSB group, KSB SE & Co. KGaA, directly or indirectly owns shares in other KSB group firms. Pumps, Valves, and Services are the three business segments that make up the corporation. The pumps category provides drive and control systems that go along with single- and multistage pumps. This category serves a wide range of industries, including construction, water and wastewater treatment, petrochemical, manufacturing, and transportation. Butterfly, gate, globe, control, ball, and diaphragm valves, together with associated actuators and control systems, are included in the valves category. Pumps, valves, and related systems installation, inspection, commissioning, servicing, and maintenance and repair are all included within the service sector. About 67% of the total sales revenue in 2020 came from the Pumps sector, with the Services segment coming in second with an 18% share, and the Valves section with a 15% share. 15,076 people work for the organization worldwide as of December 2020.

  • Sulzer Ltd. - With its headquarters located in Winterthur, Switzerland, Sulzer Ltd. was founded in 1834. Pump equipment, rotating equipment services, applicator systems, and rotating equipment make up the company's four business sectors. It is a well-known producer of fluid engineering solutions. It sells its products in North America and Latin America to the power, water, oil and gas, and general industry sectors. The product range of the company encompasses a variety of items such as pumps, compressors & aeration, agitators & dynamic mixers, tower management systems, process plant accessories, pump & lifting stations, solids reduction, separation & removal systems, control & monitoring equipment, and digital solutions. Through focused research and development in fluid dynamics and innovative materials, the pump equipment business area produces pumps, compressors, agitators, screens, and grinders.

  • Pentair - Based in Twickenham, London, Pentair was founded in 1966. Pool and spa equipment, water quality, and water supply and disposal are the three product categories that the firm uses to market its goods. Water supply and disposal product lines are used by the corporation to supply water supply and disposal pumps, while pool and spa equipment product lines are used to supply pool pumps. The firm offers goods for agriculture, municipal, industrial, and domestic use. Across the world, the firm is physically present. About 9,750 workers were working for the firm worldwide as of December.

  • Iwaki Co. Ltd. - IWAKI CO., LTD. was founded on April 10, 1956, and its main office is in Tokyo, Japan. One of the oldest chemical pump producers in the world, it has operations in 23 nations and fully-owned subsidiaries in Germany and the United States. The business creates the global Iwaki network, which supplies fluid control equipment to a variety of sectors, together with its affiliates in various nations. With its headquarters located in Massachusetts, the United States, Iwaki America Inc. was founded in 1974. The firm is regarded as one of the leading producers of chemical handling equipment for industrial, OEMs, semiconductor applications, and chemical processes. It is one of the 25 global centers for the support and production of Iwaki pumps. Iwaki America, Iwaki Air, and Walchem all share a manufacturing plant in Holliston, Massachusetts. While Iwaki America and Walchem share corporate management resources and administration, each business continues to run its production, customer service, and R&D departments. Magnetic drive pumps, metering pumps, high purity pumps, bellow pumps, chemical process pumps, and self-priming pumps are just a few of the pumps that Iwaki America produces and sells.

  • ITT INC. - With its headquarters located in New York, United States, ITT INC. was founded in 1920. The firm, formerly known as ITT Corporation, is involved in the production of specialized technological solutions and essential engineering components for the transportation, energy, and industrial industries. The firm supplies goods to a wide range of markets, including defense, oil and gas, food and beverage, aerospace, automotive and heavy vehicle, industrial, infrastructure, oil and gas, and power generation. It is divided into three business segments: motion technology (MT), industrial process segment (IP), and connectivity & control technology (CCT) solutions. Industrial pumps, plant optimization systems and services, and valves are all offered by the company's IP, or industrial process, division, which also functions as an OEM and service provider. Centrifugal process pumps, positive displacement pumps, water systems, ATEX (Atmosphere, Explosibles, European directive), IECEx (IEC standard), ANSI (American Standard National Institute), and a wide range of other products are among them. The brands that fall within the purview of the company offer a range of pump-related goods, including Bornmann, Pro-Services, Engineered Valves, Rheinhutte Pumpen, and Goulds Pumps. The corporation employed 9,770 people in 35 different countries as of 2020.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Industrial Pumps Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Industrial Pumps Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

What questions do you have? Get quick response from our industry experts. Request a Free Consultation
pdf

GET A FREE SAMPLE

bck

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

cog

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

esomar icon

ESOMAR certified & member

ISO

ISO Certified

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.

great place to work icon