Pumps Market Size, Share & Trends Report

Pumps Market Size, Share & Trends Analysis Report Analysis By Product Type (Positive Displacement, Centrifugal), By Application (Agriculture, Chemical), By Region (Europe, APAC), And Segment Forecasts, 2020 - 2027

  • Published Date: Dec, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-3-68038-772-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 100

Report Overview

The global pumps market size was valued at USD 95.05 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.6% from 2020 to 2027. Rising investments for infrastructure development, such as water treatment and power generation, in countries of the Asia Pacific and Middle East & Africa are expected to boost the demand for pumps. The global water & wastewater treatment industry has gained significant momentum over the past few years. Rising demand for freshwater mainly owing to increasing population, rapid industrialization & urbanization, and technological developments, is also likely to boost the market growth. In addition, rising government expenditures for the development of a modern irrigation system in the agriculture sector is expected to drive market growth.

The U.S. pumps market size, by product type, 2016 - 2027 (USD Billion)

The market is expected to grow significantly in the U.S., owing to the rapidly growing construction sector in the country, coupled with renovation in the water treatment activities in old residential and commercial complexes. In addition, significant growth in offshore and onshore exploration activities in the oil & gas sector is expected to augment product demand.

The increasing demand for crude oil globally for facilitating the production centers, overseas logistics, and domestic transports is expected to heighten the offshore and onshore exploration activities. The aforementioned trends are anticipated to promote the requirement of pumps capable of handling subsea pressures and providing utility functions.

The demand for pumps in the chemical industry is expected to grow worldwide, with innovations, such as resistance towards corrosion in chemical transfer systems, chemicals like sulfuric acid (H2SO4), and sodium hypochlorite (NaOCl). Manufacturers are also introducing innovative safety features, such as leak detection pressure switches and backup diaphragms, to deal with hazardous risks to surrounding during chemical operations.

Key pump manufacturers, such as Grundfos Pump Corp. and Xylem Inc., are partnering with industry players from the construction, chemicals, and water treatment industries for the development of customized pumps as per consumer needs. Companies focus their marketing strategies on increasing sales and targeting specific applications to exploit their competitive strengths.

Product Type Insights

Centrifugal pump led the market and accounted for over 51% share of the global revenue in 2019 owing to the increased investments in water & wastewater treatment plants in developing countries, primarily in the Asia Pacific and Middle East & Africa regions. The rapid expansion of infrastructure development in countries, such as India, China, Brazil, and South Africa, is expected to drive market growth.

Centrifugal pumps are further segmented into axial flow pumps, radial flow pumps, and mixed flow pumps. Axial flow pumps are expected to contribute to a significant share of the centrifugal pumps segment owing to the rising demand for energy fuel. This, in turn, is anticipated to augment the growth of end-use industries, such as water treatment and power generation. In addition, the high demand for energy-saving pumps is expected to boost the market growth.

The demand for positive displacement pumps is expected to grow at a CAGR of 3.8% from 2020 to 2027. This growth can be attributed to their increasing demand from the oil & gas industry, as these pumps can expand high pressures at fewer suction forces. In addition, the capacity of these pumps is not affected by external liquid force, thus making them an ideal choice at places where the inlet forces are low.

Positive displacement pumps are further segmented into reciprocating pumps, rotary pumps, and others. Rotary pumps are expected to draw a majority share of the positive displacement pumps segment, owing to their ability to facilitate flow even at differentiating pressures and viscosity conditions. They are used in the lubrication of processing equipment, wind turbines, and hydraulic fracturing trucks.

Application Insights

The agriculture application segment led the market and accounted for about 26% of the global revenue share in 2019. This is attributed to the presence of government subsidies that support the development and procurement of agricultural equipment. In addition, the growth in the land brought under irrigation, coupled with the increased mechanization of agricultural activities globally, is expected to complement demand.

The adoption of pumps for construction & building services is expected to grow at a CAGR of 3.6% from 2020 to 2027. This can be attributed to the increasing adoption of pumps in various construction applications, such as transferring of cement slurry, chemical dosing, sludge handing of mud, silt, and sand, and treatment of concrete washout. Furthermore, rapid urbanization and an increasing number of housing projects are expected to boost product demand.

Global pumps market share, by application, 2019 (%)

Increasing demand for clean water owing to rapid urbanization and industrial growth, coupled with depleting freshwater resources, is projected to drive the growth of the water and wastewater treatment industry. Rising environmental concerns, coupled with the need to comply with stringent government regulations concerning water and wastewater treatment across the globe, are further anticipated to have a positive impact on market growth.

Rising adoption of pumps in the power generation industry is attributed to the development of new power plants to meet the rapidly increasing energy demand across the globe. In addition, heavy investments for the development of power generation infrastructure, are expected to augment market growth over the forecast period.

Regional Insights

Asia Pacific led the market and accounted for the largest revenue share of over 45% in 2019. High demand for pumps is attributed to various infrastructure development schemes in the region for water treatment, power generation, and mechanizing of irrigation systems in agriculture. In addition, growth in the construction sector in developing countries, including China, India, and Brazil, is expected to have a positive impact on the pump market growth.

Stringent regulations aimed at reducing water pollution on a domestic level in Europe are expected to play a key role in increasing the demand for water treatment in municipal and industrial sectors, which is projected to drive the market growth in the region over the forecast period. In addition, increasing investments in the oil & gas sector owing to the rising demand for energy fuels is expected to augment market growth.

The market in North America is expected to be driven by the rise in demand from the end-user industries, such as oil & gas, chemicals & petrochemicals, and mining. In addition, an increase in the number of offshore and onshore field projects and rapid advancements in the water and wastewater treatment industry is expected to drive the market over the forecast period.

The market in Central & South America is expected to grow owing to various government investment schemes in countries, such as Brazil, Argentina, and Paraguay, for modernizing agricultural practices. In addition, installations of water treatment plants owing to rising demand from residential and commercial sectors are expected to boost product demand in the future.

Key Companies & Market Share Insights

The global market is highly competitive due to the presence of regional and multinational market participants. New product development coupled with technological advancements is one of the key strategies adopted by market participants to expand their product offerings and to reinforce their competitive positions in the market.

Manufacturers distribute products primarily through a direct sales channel; however, they also use independent OEMs, Value-Added Resellers (VARs), consultants, and distributors to supply and market their products. Companies focus on expanding their geographical presence and capitalize on new markets and industries for existing as well as new products. Some prominent players in the global pumps market include:

  • 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

Pumps Market Report Scope

Report Attribute


Market size value in 2020

USD 98.02 billion

Revenue forecast in 2027

USD 125.95 billion

Growth Rate

CAGR of 3.6% from 2020 to 2027

Base year for estimation


Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD billion and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product type, 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; India; Japan; Australia; Brazil; Argentina; UAE; Saudi Arabia

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

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global pumps market report on the basis of product type, application, and region:

  • Product Type Outlook (Revenue, USD Billion, 2016 - 2027)

    • Centrifugal

      • Axial Flow Pump

      • Radial Flow Pump

      • Mixed Flow Pump

    • Positive Displacement

      • Reciprocating Pump

      • Rotary Pump

      • Others

    • Others

  • Application Outlook (Revenue, USD Billion, 2016 - 2027)

    • Agriculture

    • Construction & Building Services

    • Water & Wastewater

    • Power Generation

    • Oil & Gas

    • Chemical

    • Others

  • Regional Outlook (Revenue, USD Billion, 2016 - 2027)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • The U.K.

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • UAE

      • Saudi Arabia

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