GVR Report cover 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)

Report Overview

The global industrial pumps market size was valued at USD 63.29 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. The rising adoption of these products in various industries, including water and wastewater, chemical, oil and gas, and power generation, is expected to have a positive impact on market growth. The lockdown measures implemented by the governments of various countries, in light of the COVID-19 pandemic in 2020, have adversely affected growth due to the closure of manufacturing industries. Furthermore, the pandemic has resulted in delays in raw material distribution, thereby affecting the production capacity across the globe.

U.S. industrial pumps market size, by product, 2020 - 2030 (USD Billion)

Factors such as high electricity demand, industrialization, and investments in renewable power generation in countries are anticipated to augment the demand for industrial pumps in power generation. Increasing investments in exploration and production activities by oil & gas companies in the U.S. are anticipated to boost the demand in the oil & gas industry.

Global oil & gas production is likely to witness significant growth in non-OPEC and developing countries. Growing demand for energy, shale gas, tight gas, and coal bed methane (CBM) on account of the maturity of conventional oil & gas resources is expected to be a major driver triggering the growth.

The regulatory framework implemented in the Middle East and China for enhancing the production output of the domestic refining sector is expected to lead to an increased demand for industrial pumps used in refineries across these geographies. This, in turn, is projected to fuel growth in the Middle East and China.

Price variations in industrial pump components due to strong demand from end-user industries are expected to have a negative impact on capital investments throughout the projection period. Major companies are likely to increase their efforts in developing low-cost manufacturing processes and modern technologies for the productivity improvement of pumps over the forecast years, thereby boosting growth.

Product Insights

Centrifugal pumps have led the market and accounted for a revenue share of over 67.3% in 2022. These products are widely utilized in several applications, including water supply, fire protection systems, sewage disposal, food and beverage industries, and chemical industries, due to their low maintenance.

The growth of the global centrifugal pumps market is being driven by the rapid construction of residential and commercial infrastructure and the expansion of the manufacturing sector. The growth is attributed to the increased infrastructure investment, which has resulted in fast urbanization. The wastewater treatment sector's demand for these products is expected to drive the industry over the coming years.

The positive displacement pumps are expected to expand at the fastest CAGR of 5.4% over the forecast period. Positive displacement pumps are expected to witness significant growth over the forecast period, as reciprocating pumps gain popularity due to their higher efficiency than centrifugal pumps and their application in precision dosing and high-pressure output applications.

The increased investment in specialized reciprocating pumps is due to the current complex refining process, which involves high temperatures, high pressures, and the ability to handle volatile fluids. As a result, the market for positive displacement pumps is likely to grow over the forecast period, thereby driving this industry.

Application Insights

The water and wastewater treatment segment led the market and accounted for a revenue share of over 24.5% in 2022. The increasing demand for water treatment facilities to meet the world's growing water scarcity needs across municipalities and industries is driving the demand for water pumping systems across the globe.

These products are utilized in a variety of applications in the power generation industry, including boiler feed water, cooling water, circulation water, condensate water, flue gas desulfurization services, and auxiliary services. Moreover, steam generation, which is a critical aspect of power plants, requires several products that include boiler feed pumps, booster pumps, condensate pumps, and circulating pumps.

Global industrial pumps market share, by application, 2022 (%)

The demand for these products in the chemical industry is likely to expand at a CAGR of 5.4% over the forecast period. The chemical industry is one of the major contributors to industrial economic growth as a source of raw materials for a wide range of sectors. The application of these products in the chemical sector is expected to rise due to the increasing concerns over employee safety and the surrounding environment.

Industrial pumps are required in several applications in the construction industry, which include dewatering, removal of excess water to prevent water logging, cement production, dyeing processes, roofing tile production, and dust trapping. Peristaltic pumps are used for chemical dosing and transfer of cement slurry in construction.

Regional Insights

Asia Pacific led the market and accounted for a revenue share of over 45.4% in 2022. As the groundwater levels are reducing in the region, water reuse has become increasingly popular in recent years, which has expanded the use of pumps for the building of water and wastewater infrastructure, resulting in higher demand for the product.

The increase in energy demand and the government's continued investment in sustainable energy sources are expected to fuel industry growth in Europe. Furthermore, strict laws aimed at reducing water pollution are likely to play a vital role in driving the demand for water treatment in the municipal and industrial sectors, which will drive this industry throughout the forecast period.

Industrial Pumps Market Trends by Region

Despite having abundant water resources, water distribution in Central and South America is inconsistent. Additionally, due to a lack of quality infrastructure in the region, more water is being drained from local basins to meet overall water needs. Furthermore, the robust presence of oil & gas reserves in Brazil, Argentina, Venezuela, and Columbia is expected to have a positive impact on the industry growth.

Oil-based industries in Saudi Arabia include the companies engaged in the production of oil, industrial gas, petrochemicals, and refineries of petroleum, ammonia, and caustic. Thus, the presence of vast oil & gas reserves, coupled with a robust infrastructure for processing oil, is anticipated to propel the growth of the petrochemical industry, thereby boosting the demand for these products.

Key Companies & Market Share Insights

The market is characterized by the presence of both international and local manufacturers due to the ongoing development in demand for water treatment. Companies market their products through a variety of channels, including company websites, e-commerce websites, merchants, distributors, and end-users.

Manufacturers compete on a variety of aspects including product pricing, performance, design, technology, reputation, and availability. Companies are adopting a variety of strategies to expand their market reach and market share, including new product launches, distribution network expansion, R&D spending, and mergers and acquisitions. Some prominent players in the global industrial pumps market include:

  • Grundfos Holding A/S

  • Xylem

  • Ingersoll-Rand

  • Flowserve Corporation

  • SPZ Flow

  • KSB SE &Co. KGaA

  • Sulzer Ltd.

  • Pentair

  • Iwaki Co. Ltd.

  • ITT, INC.

  • Schlumberger Limited

  • EBARA International Corporation

  • The Weir Group PLC

  • Vaughan Company

  • HERMETIC-Pumpen GmbH

Industrial Pumps Market Report Scope

Report Attribute


Market size value in 2023

USD 65.24 billion

Revenue forecast in 2030

USD 92.98 billion

Growth Rate

CAGR of 4.9% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company market position analysis, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country Scope

U.S.; Canada; Mexico; Germany; France; Italy; U.K.; China; Japan; India; Brazil; Argentina; UAE; Saudi Arabia

Key companies profiled

Grundfos Holding A/S; Xylem; Ingersoll-Rand; Flowserve Corporation; SPX Flow; KSB SE & Co. KGaA; Sulzer Ltd.; Pentair; Iwaki Co. Ltd.; ITT, INC.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Global Industrial Pumps Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global industrial pumps market report based on product, application, and region:

Global Industrial Pumps Market Segmentation

  • Product Outlook (Revenue, USD Million, 2018 - 2030)

    • Centrifugal Pump

      • Axial Flow Pump

      • Radial Flow Pump

      • Mixed Flow Pump

    • Positive Displacement Pump

      • Reciprocating

      • Rotary

      • Others

    • Others

  • Application Outlook (Revenue, USD Million, 2018 - 2030)

    • Oil & Gas

    • Chemicals

    • Construction

    • Power Generation

    • Water & Wastewater

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • U.K.

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • UAE

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