Factors such as increase in demand for industrial pumps in regions including North America propels the need for importing industrial pumps from other countries. This drives the industrial pumps market growth across the globe. Increase in demand for food from developing nations fuels the growth of the food & beverages processing industry, adding to the demand for industrial pumps, and propelling the growth of the market.
Portland, OR, Sept. 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global industrial pumps market is expected to generate $86.34 billion in 2030, from $55.83 billion in 2020, manifesting a CAGR of 4.3% from 2021 to 2030. The report provides an in-depth industrial pumps market analysis of the current and upcoming global industrial pumps market trends, market, and dynamics.
Growth of F&B processing sector and rise in demand for industrial pumps from North America are key factors driving the market growth. Technological innovation in industrial pumps is projected to open many doors of lucrative opportunities for the global industrial pumps market. However, fluctuation in raw material prices is expected to hinder the growth of the market. The U.S. administration increased the tariffs on derivative aluminum and steel imports leading 25% hike on steel and a 10% increase on aluminum imports, which built restrain for the U.S. manufacturing sector.
Download Sample PDF (300 Pages with More Insight):
Covid-19 impact on global industrial pumps market:
The COVID-19 pandemic forced manufacturers to shut the production and sales of multiple products in the industrial pumps sector.
Stretched lockdown in major countries of the world, such as the U.S., Italy, the U.K., and others have affected the supply chain network globally.
Uncertain raw material prices are expected to hinder the growth of the global industrial pumps market.
The report offers the detailed segmentation of the global industrial pumps market based on type, position, driving force, end user, and region.
Based on end user, the general industry segment accounted for the largest market share in 2020, contributing to more than two-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the power generation segment is estimated to witness the fastest CAGR of 4.9% from 2021 to 2030.
Get detailed COVID-19 impact analysis on the industrial pumps market Request Here
Based on driving force, the electrical driven segment contributed to the largest share in 2020, accounting for more than three-fourths of the global industrial pumps market. The same segment is expected to manifest the highest CAGR of 4.5% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in 2020, followed by Europe and North America, holding more than two-fifths of the total share. The same region is anticipated to manifest the fastest CAGR of 4.9% during the forecast period.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/8620
Leading players of the global industrial pumps market analyzed in the research include Atlas Copco, ClydeUnion Pumps, Flowserve Corporation, Baker Hughes Incorporated, Halliburton Company, KSB Pumps Ltd, Busch LLC, General Electric, ULVAC Technologies, Inc., Ebara Corporation
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Electrohydraulic Pumps Market - Global Opportunity Analysis and Industry Forecast, 2021–2030
Industrial Water Pump Market - Global Opportunity Analysis and Industry Forecast, 2021-2028
Sea Water Pumps Market - Global Opportunity Analysis and Industry Forecast, 2020–2027
Reciprocating Compressor Market - Global Opportunity Analysis and Industry Forecast, 2020 –2027
Ultra High Pressure Water Pump Market - Global Opportunity Analysis and Industry Forecast, 2021–2030
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free (USA/Canada): +1-800-792-5285,
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on | Facebook | Twitter | LinkedIn