GVR Report cover Industrial Pumps Market Size, Share & Trends Report

Industrial Pumps Market Size, Share & Trends Analysis Report By Product (Centrifugal, Positive Displacement), By Application (Water & Wastewater, Construction), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Mar, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-1-68038-325-6
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 152

Report Overview

The global industrial pumps market size was valued at USD 60.21 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2021 to 2028. The rising adoption of industrial pumps in various industries, including water and wastewater, chemical, oil and gas, and power generation, is expected to have a positive impact on market growth. Industrial pumps are manufactured in numerous sizes, shapes, and capacities. They are also extensively used in the power industry in various processes, including circulation, boiler feed, and sludge handling. The growth of the chemical industry is expected to have a positive impact on product demand over the forecast period.

U.S. industrial pump market size, by product, 2017 - 2028 (USD Billion)

The U.S. held the largest share in the North American market in 2020. Rising exploration activities in both the offshore and onshore oil and gas sector are anticipated to drive the demand for industrial pumps over the forecast period. In addition, the replacement of existing water and wastewater infrastructure in the country is likely to boost the demand for these pumps over the forecast period.

The presence of stringent government policies for energy efficiency and safety standards is projected to play an important role in market growth. Several government authorities are restructuring their present policies and introducing new frameworks, favoring the penetration of pumps using advanced technologies across various industries.

Factors such as rapid urbanization, growing industrialization, technological developments, and increased spending on infrastructure are propelling the demand for energy fuel. This, in turn, is expected to result in high growth of oil and gas, power, and water treatment industries, thereby augmenting the demand for pumps in the aforementioned industries.

The market is highly price-sensitive owing to the increasing competition from low-cost producers, particularly in Asia Pacific. Therefore, unpredictability in the product prices is a restraining factor for the market growth in the Americas and Europe. Continuous investment in research & development activities is essential for maintaining the market share along with focusing on growth.

Product Insights

Centrifugal pump led the market and accounted for 63.4% share of the global revenue in 2020. The demand for centrifugal pumps is projected to expand on account of the boom in hydraulic fracturing in the oil and gas industry in countries, including the U.S., Canada, the U.K., and Brazil. Centrifugal pump is further segmented into radial flow pump, axial flow pump, and mixed flow pump.

Positive displacement pumps are likely to expand at the fastest CAGR of 4.2% over the forecast period owing to their ability to work at lower speeds, which makes them less prone to damages caused by high viscosity oils and slurries. These are preferred in the oil and gas industry mainly because of the limitations of centrifugal pumps.

Reciprocating pumps are used in a wide variety of applications as they are known for their suction lift characteristics and are very simple in design. Furthermore, they have fewer parts enabling low maintenance and repair cost. The reciprocating pump finds applications in all kinds of liquid, including good grade fluid, acids, slurries, and various viscous fluids.

Submersible pumps are referred for applications for pumping excess water such as flooded basements or work sites in construction sites. They are also used for removing excess slurries. In the oil and gas industry, submersible pumps are used in offshore or inland oil wells for pumping oil from the ground to facilities above the surface.

Application Insights

The water and wastewater application segment led the market and accounted for a 24.7% share of the global revenue in 2020. Increasing demand for lift and sewage pumps on account of expanding industrial platforms and accumulation of wastewater in large volumes is expected to complement the segment growth. The growing manufacturing facilities across emerging countries are expected to play a crucial role in increasing the requirement of industrial pumps.

The oil and gas application segment is expected to expand at a CAGR of 3.6% over the forecast period on account of the rising demand for crude oil to facilitate production centers, domestic transports, and overseas logistics. The growth of the oil and gas industry is projected to increase the onshore and offshore exploration activities in the future, thereby driving the demand for industrial pumps capable of handling subsea pressures and providing utility functions.

Global industrial pump market share, by application, 2020 (%)

Globally, the automotive, manufacturing, and construction sectors, which are major end users of chemical products, have witnessed tremendous expansion activities in the past decade. These sectors are also anticipated to witness significant growth in the next few years, leading to rising demand for chemicals. This, in turn, is likely to boost the demand for centrifugal, peristatic, and diaphragm pumps as they can handle most flammable, viscous, aggressive, and abrasive fluids with ease.

The rising population has resulted in an increased demand for energy, thereby contributing to the growth of the power generation industry. In the power generation industry, pumps are used in numerous applications, including boiler feed water services, cooling water services, circulating water services, condensate water services, flue gas desulfurization services, and auxiliary services.

Regional Insights

Asia Pacific led the market and accounted for 44.9% share of the global revenue in 2020. The market is expected to grow on account of the tremendous growth of the end-use industries, including water and wastewater, chemical, and oil and gas. The rising need for reusable water is one of the major concerns in emerging countries, including India, China, and Malaysia. This is expected to have a positive impact on the regional market growth over the forecast period.

North America is anticipated to witness significant growth on account of the technological advancements pertaining to the superior performance of pumping systems in the region. Furthermore, rising demand for oil and gas from other sectors, such as commercial transportation and heating and cooling in residential and commercial applications, is anticipated to drive the oil and gas industry, thereby complementing the market growth in the region.

The market in Europe is anticipated to expand at a CAGR of 3.5% over the forecast period. Stringent regulations aimed at reducing water pollution at the domestic level are expected to play a key role in increasing the demand for water treatment in the municipal and industrial sectors, which, in turn, is expected to drive the pump industry over the forecast period.

Rising installations of the water and wastewater treatment plants in the Middle East and Africa due to the increasing demand for potable water in the residential and industrial sectors are expected to boost product demand. Furthermore, increasing demand for crude oil in order to facilitate production centers, overseas logistics, and domestic transports is expected to augment the offshore and onshore exploration activities in the region, thus positively impacting the market growth.

Key Companies & Market Share Insights

The market is characterized by the presence of large and small-scale manufacturers across the globe, thereby resulting in a moderate level of concentration. Major players adopt strategies such as new product development and acquisition of small and medium-scale enterprises to improve market penetration and gain an edge over their competitors.

Major players have invested extensively in research and development operations, which has led to the invention of several innovative products that can be utilized across the market. The focus of major players is more on the economies of scope than economies of scale as pumps can be used for numerous applications across several end-use industries. Some prominent players in the global industrial pumps market include:

  • Grundfos Pump Corp.

  • Xylem, Inc.

  • Ingersoll-Rand PLC

  • Flowserve Corp.

  • SPX Flow, Inc.

  • KSB SE & Co. KGaA

  • Sulzer Ltd.

  • Pentair PLC

Industrial Pumps Market Report Scope

Report Attribute


Market size value in 2021

USD 61.63 billion

Revenue forecast in 2028

USD 81.87 billion

Growth Rate

CAGR of 3.9% from 2021 to 2028

Base year for estimation


Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, 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; Saudi Arabia; UAE

Key companies profiled

Grundfos Pump Corp.; Xylem, Inc.; Ingersoll-Rand PLC; Flowserve Corp.; SPX Flow, Inc.; KSB SE & Co. KGaA; Sulzer Ltd.; Pentair PLC; Iwaki America, Inc.; ITT, Inc.; Schlumberger Ltd.; Ebara Corp.; Weir Group PLC; Vaughan Company, Inc.; Hermetic-Pumpen GmbH

Customization scope

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

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Segments Covered in the Report

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 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global industrial pumps market report on the basis of product, application, and region:

  • Product Outlook (Revenue, USD Million, 2017 - 2028)

    • Centrifugal Pump

      • Axial Flow Pump

      • Radial Flow Pump

      • Mixed Flow Pump

    • Positive Displacement Pump

      • Reciprocating

      • Rotary

      • Others

    • Others

  • Application Outlook (Revenue, USD Million, 2017 - 2028)

    • Oil & Gas

    • Chemicals

    • Construction

    • Power

    • Water & Wastewater

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • United Arab Emirates

      • Saudi Arabia

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