Industrial Pumps Market Analysis By Product (Centrifugal, Reciprocating, Rotary, Diaphragm), By Application (Oil & Gas, Chemicals, Construction, Power, Water & Wastewater Treatment), By Region (North America, Europe), And Segment Forecasts, 2018 - 2025

Industry Insights

The industrial pumps market size was valued at USD 50.14 billion in 2015 and is expected to witness a growth at a CAGR of 5.9% over the forecast period on account of its increasing use in various applications such as chemicals and waste water treatment. The product plays an essential role in the transportation of various types of fluids from one location to another.

Rising expenditure for infrastructure development in various regions is expected to have a positive impact on the product market over the next nine years. In addition, growth of the food & beverage industry is will fuel product demand over the forecast period.

U.S. industrial pumps market by application, 2014-2025, (USD Million)

Industrial pumps are manufactured in numerous sizes, shapes and capacities and find extensive use in the power industry. They provide various services in this industry including circulation, boiler feed and sludge handling. Growth of the power industry is expected to have a positive impact on the product demand over the next nine years.

Increasing infrastructural development in emerging economies of Asia Pacific including India and China is subsequently expected to create a higher demand for the industrial pumps over the forecast period.

Asian and African countries have been receiving robust infrastructure investments over the past few years which in turn is expected to fuel industrial output over the next nine years. This will consequently fuel the global market over the forecast period. In addition, increasing demand for these product in North America and Europe from manufacturing industries is expected to propel industry growth over the forecast period.

Further, the escalating power consumption and the investments in the transmission infrastructures in China, India, Saudi Arabia and U.A.E. are anticipated to be the key factors spurring the market growth.

Application insights

Water & waste water treatment was the largest application segment accounting for over 20% of global revenue in 2015. The water & wastewater industry has been growing over the past few years growing due to urbanization, population growth and rise in manufacturing activities. Industries such as pharmaceuticals, food & beverage and power are heavily dependent on water for their day-to-day activities and will have a significant impact on the global demand for water.

Production increase in the manufacturing sector makes water conservation as well as adherence to environmental regulations paramount. In addition, governments of various developing countries including India, Brazil and China are heavily investing for wastewater treatment. This is expected to have a positive impact on the industrial pumps demand over the forecast period.

Product insights

The global industrial pump market has been segmented by products into centrifugal, reciprocating, rotary, diaphragm. Centrifugal pumps are expected to be the fastest growing product segment at a CAGR of over 6% from 2016 to 2025. Rising infrastructural development in developing countries such as India and China is expected to fuel product demand over the forecast period.

Global industrial pumps market by product, 2015 (%)

This product is employed in low head, high flow applications with low viscosity. Numerous industries prefer this product as opposed to the counterparts on account of is low maintenance, long service life and low cost. These features are expected to propel its demand over the next nine years.

Regional insights

Asia Pacific is expected to be the fastest growing market for industrial pumps on account of tremendous growth in end-use industries including water & wastewater treatment and power. Rising investments in China for the construction of indirect and direct liquefaction plants where pumps are employed to move treatment chemicals, water and other products is expected to fuel its demand over the forecast period.

Rising need for reusable water is one of the major concerns in emerging economies in the region including China and India. This is expected to have a positive impact on the industrial pump market over the next eight years.

Competitive insights

Companies focus their marketing strategies on increasing sales and targeting specific applications so as to exploit their competitive strengths. In order to achieve this, they emphasize on expanding their geographical presence and capitalize on new markets and industries for existing as well as new products.

The key players in the industrial pumps industry are Flowserve Corp., Schlumberger Ltd, ITT Corp., Sulzer Ltd., KSB AG, Ebara Corp., Weir Group plc, Grundfos A/S, Baker Hughes, Inc., and Clyde Union, Inc.

Report Scope

Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the industrial pumps market on the basis of product, application, and region:

• Product type Outlook (Revenue, USD Million, 2014 - 2025)

  • Centrifugal

  • Reciprocating

  • Rotary

  • Diaphragm

• Application Outlook (Revenue, USD Million, 2014 - 2025)

  • Oil & gas

  • Chemicals

  • Construction

  • Power

  • Water & wastewater treatment

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Brazil

  • MEA

    • UAE