The global axial flow pump market size was estimated at USD 3,992.0 million in 2022 and is anticipated to grow at a compounded annual growth rate (CAGR) of 3.1% from 2023 to 2030. The growth of the market is primarily attributed to the rising investments in wastewater treatment facilities and an uptick in activity in the oil industry to meet the rising energy demand. In addition, it is anticipated that rapid urbanization and industrialization across the world will have a beneficial effect on the expansion of the market in the coming years. Government laws, such as DOE energy conservation standards, that are strict on energy efficiency, safety, and standards are anticipated to have a significant impact on the market.
Many government agencies have not only restructured their existing structures but also their current policies. The U.S. held the largest market share of the global industrial pumps market in North America in 2022. The replacement of the nation's outdated industrial water & wastewater infrastructure is also anticipated to be a major factor driving the market growth. Moreover, the market is expected to grow significantly in the U.S. owing to increasing exploration activities in both the onshore & offshore unconventional oil & gas sectors.
In addition, renovation and technological developments of the existing industrial water & wastewater management infrastructure in the country will support the overall market growth. Axial flow pumps are used in setting up wastewater management & water treatment facilities in various countries, such as the U.S., China, UAE, India, and Australia, which is expected to drive the overall market growth over the forecast period. In addition, product usage is likely to grow in the chemical industry as they offer a high discharge rate with controlled vertical heads, thus avoiding spillage.
The high-power type segment accounted for a significant market share of 58.9%, in terms of revenue, in 2022. High-power axial flow pumps offer a great rate of flow and power as compared to their counterparts. In this regard, the heightened application of these pumps in the flood dewatering, and water & wastewater, and oil & gas industries, is driving the segment’s growth. The increasing inclination toward using axial flow pumps with high power to accelerate industrial operations in various end-use industries is anticipated to provide impetus to the segment.
The mini-watt type segment is likely to witness a lucrative growth rate of 2.7% over the forecast period. This rapid growth can be attributed to the emphasis on energy efficiency. Mini-watt axial flow pumps are designed to consume minimal power while delivering fluid circulation, making them suitable for applications where energy conservation is a priority.
On the basis of configurations, the global market has been further bifurcated into single-stage and multi-stage configurations. The single-stage configuration segment accounted for the largest share of 62.7%, in terms of revenue, in 2022. One of the primary factors driving the demand for single-stage axial flow pumps is their ability to handle high flow rates of fluids. These pumps are well-suited for applications where a significant volume of fluid needs to be moved efficiently.
On the other hand, the multi-stage type segment is likely to witness the fastest growth rate of 3.9% over the forecast period. Multi-stage axial flow pumps are well-suited for applications that require high discharge pressures, such as water supply for tall buildings, high-pressure irrigation, industrial processes, and oil and gas pipelines.
The agriculture segment accounted for a maximum share of 23.2% in 2022 in terms of revenue and is likely to continue to dominate the market over the forecast period. Product utilization in the agricultural sectors, such as drainage, irrigation, and fisheries, among others, is a major driving factor for the segment growth. In addition, there is a greater need for food production due to the growing population, and axial flow pumps are frequently used for irrigation. Axial flow pumps are used for handling flammable, vicious, aggressive, and abrasive fluids with ease.
Chemicals are used in various end-use industries, including automotive, manufacturing, and construction. The growth of the aforementioned industries is likely to augment the demand for various chemicals, thereby impacting the penetration of axial flow pumps for chemical handling. The rapid development of residential and commercial construction has resulted in an increased need for proper sewage systems. The municipal authorities are expected to invest significantly in pumping solutions to provide a consistent water supply across residential locations. The rapid expansion of cities is expected to have a positive impact on the product demand in the domestic water & wastewater industry.
Asia Pacific led the market and accounted for a 46.8% share of the global revenue in 2022. The growing product demand in the region is attributed to the tremendous growth of the end-use industries, including domestic water & wastewater, and petroleum. In addition, rapid investments in the manufacturing sector to cater to the demand from a rapidly growing population are expected to fuel market growth over the forecast period. The demand for axial power pumps in Central & South Africa is expected to be driven by the rapidly expanding power generation sector in Brazil and Argentina.
Furthermore, the replacement of commonly used centrifugal pumps with axial flow pumps owing to their ability to increase workplace efficiency at power plants and water management plants, is anticipated to augment the product demand in the region. North America is expected to expand at a CAGR of 1.7% from 2023 to 2030. The presence of advanced processing capabilities in the U.S., coupled with continuous R&D activities for manufacturing pumps, is expected to drive the market in the region. Furthermore, rising water scarcity has resulted in innovations that are likely to promote product demand in the region.
The industry is extremely competitive due to the presence of both international and local players. Manufacturers use a variety of strategies to increase market penetration and meet the dynamic technological demands of end-use industries, such as agriculture, construction & building services, water & wastewater, power generation, oil & gas, chemicals, and others. For instance, Flowserve introduced the SIHI Boost UltraPLUS dry-running vacuum pump in May 2023. Cycle times for batch processes can be cut by 50% or more with the help of this new unit. This new device also provides high performance and low power consumption. Some of the prominent players in the global axial flow pump market include:
Ebara Corporation
Flowserve Corporation
Grundfos Holding A/S
Handol Pumps Limited
Hitachi Industrial Products Ltd.
ITT Goulds Pumps
Pentair PLC
Sulzer Ltd.
The Weir Group PLC
Xylem Inc.
Report Attribute |
Details |
Market size value in 2023 |
USD 4,082.5 million |
Revenue forecast in 2030 |
USD 5,109.1 million |
Growth rate |
CAGR of 3.1% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
Report updated |
October 2023 |
Quantitative units |
Revenue in USD million, and CAGR from 2023 to 2030 |
Report coverage |
Revenue forecast, company market position analysis, competitive landscape, growth factors, and trends |
Segments covered |
Type, configuration, end-use, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country Scope |
U.S.; Canada; Mexico; France; Germany; Italy; UK; China; Japan; India; Australia; Argentina; Brazil; Saudi Arabia; UAE |
Key companies profiled |
Ebara Corporation; Flowserve Corp.; Grundfos Holding A/S; Handol Pumps Ltd.; Hitachi Industrial Products Ltd.; ITT Goulds Pumps; Pentair PLC; Sulzer Ltd.; The Weir Group PLC; Xylem Inc. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global axial flow pump market report on the basis of type, configuration, end-use, and region:
Type Outlook (Revenue, USD Million, 2018 - 2030)
High Power
Miniwatt
End-use Outlook (Revenue, USD Million, 2018 - 2030)
Agriculture
Construction & Building Services
Water & Wastewater
Power Generation
Oil & Gas
Chemicals
Others
Configuration Outlook (Revenue, USD Million, 2018 - 2030)
Single-stage
Multi-stage
Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
UK
Asia Pacific
China
Japan
India
Australia
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
UAE
b. The global axial flow pump market size was estimated at USD 3,992.0 million in 2022 and is expected to reach USD 4,082.5 million in 2023.
b. The axial flow pump market, in terms of revenue, is expected to grow at a compound annual growth rate of 3.1% from 2023 to 2030 and reach USD 5,109.1 million by 2030.
b. Asia Pacific dominated the axial flow pump Market with a revenue share of 46.8% in 2022 owing to the growing demand for axial flow pumps in the region is attributed to the tremendous growth of the end-use industries, including domestic water and wastewater and petroleum. In addition, rapid investments in the manufacturing sector to cater to the demand of a rapidly growing population are expected to fuel market growth over the forecast period.
b. Some of the key players operating in the axial flow pumps market include Ebara Corporation, Flowserve Corporation, Grundfos Holding A/S, Handol Pumps Limited, Hitachi Industrial Products Ltd., ITT Goulds Pumps among others.
b. The key factors that are driving the axial flow pumps market include the growth of the market can be primarily attributed to the growth of the market can be primarily attributed to the rising investments taking place in the wastewater treatment plants and the increase in oil filed activities taking place to satisfy the increased energy demand. In addition, the rapid urbanization & industrialization around the world is also expected to positively impact the growth of global axial flow pumps market in the coming years.
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