Industrial Pumps Market To Reach $72,918.8 Million By 2033

February 2026 | Report Format: Electronic (PDF)

Industrial Pumps Market Growth & Trends

The global industrial pumps market size is estimated to reach USD 72,918.8 million by 2033, registering a CAGR of 5.7% from 2026 to 2033, according to a new report by Grand View Research, Inc. The market is primarily driven by the increasing investments in the exploration and production activities by oil & gas companies, coupled with the rising product adoption in the oil & gas industry across the globe.

The oil & gas sector is one of the most predominant markets in the world. In oil-producing regions like the Middle East, the product demand is driven by ongoing drilling activity. In addition, the rising hydraulic fracturing in the oil & gas industry is driving the demand for process equipment in the U.S., thereby driving the industry over the forecast period.

The pandemic impacted the demand for this product negatively as the lockdown restrictions aimed at limiting the spread of the virus across the globe resulted in the closure of industrial pump manufacturing facilities. Furthermore, the travel restrictions caused severe supply chain disruption, making it difficult for manufacturers to obtain raw materials for production.

The growing demand for water supply on account of the increasing population is augmenting the demand for water and wastewater treatment facilities across the world. Furthermore, the increasing investments in wastewater treatment plants, coupled with the rising adoption of pumps in these plants, are expected to drive the market over the forecast period.

Technological advancements and new product launch amid the COVID-19 pandemic restrictions are expected to drive the industry. For instance, with the launch of the DDP096, a 92cc/rev medium-duty radial piston pump that offers digital operational capabilities in the industries, Danfoss unveiled a new series of digital displacement hydraulic pumps in January 2021.

Major oil & gas refiners are anticipated to upgrade their existing infrastructure to produce low-sulfur fuels on account of the IMO 2020 standard that is effective from January 1, 2020. The demand for this product is expected to witness significant growth owing to ongoing and projected refinery upgrades across the globe.

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Industrial Pumps Market Report Highlights

Based on product type, the centrifugal pump segment holds the dominant share in the market and accounted for a share of 67.1% in 2025, due to its wide usage in water treatment, power generation, chemicals, and oil and gas industries.
Based on application, the water & wastewater segment dominates the industrial pumps market and accounted for a share of 25.1% in 2025, due to rising urbanization, population growth, and increasing demand for clean water.
Asia Pacific is a dominant market and accounted for the 46.1% share in 2025, driven by industrialization, urbanization, and infrastructure expansion.