The Global Pumps Market to Reach $91.08 Billion by 2027. Centrifugal Pumps Powered by Digitalization is Propelling Market Growth - Arizton
The global pumps market is expected to reach $91.08 billion by 2027 from $71.87 billion in 2022
Chicago, July 05, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the global pump market is expected to grow at a CAGR of 4.72% during the forecast period. Centrifugal and positive displacement pumps are smart and intelligent pumps used across several end-user applications. Centrifugal pumps have more variable flow applications than positive displacement pumps. Therefore, many of these pumps are expected to be used for live monitoring purposes.
In addition, European regulations on motor and pump performance enable manufacturers to be completely informed of maximum device quality; thus, the use of smart and connected technologies to enhance pumps’ overall quality is anticipated to increase in the future.
The advent of intelligent pumps has helped in reducing operating costs and plant downtime. Centrifugal and positive displacement pumps are smart and intelligent pumps used across several end-user applications. The need for intelligent pumping systems in the oil & gas industry is high owing to strict environmental regulations related to energy consumption and pollution. The high number of M&As by major players is anticipated to boost the demand for intelligent and smart pumps. Vendors deliver quality products and user-friendly innovative software solutions to control and design smart systems. Furthermore, continuous technological advances and R&D, smart city projects, and focus on digitalization will drive the demand for intelligent and smart pumps during the forecast period.
Global Pumps Market Report Scope
Report Attributes | Details | |
Market Size (2027) | $91.08 Billion | |
Market Size (2021) | $69.08 Billion | |
CAGR (2022-2027) | 4.72% |
|
Base Year | 2021 |
|
Forecast Year | 2022-2027 | |
Largest Market Share by Product Type | Centrifugal Pumps | |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
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How APAC Leading the Global Pumps Market?
Pump sales in APAC are expected to be based on high capital spending and construction expenditure growth. The growth in the demand for electricity supply in developing countries in APAC, such as India, Japan, and Indonesia, is expected to increase the demand for centrifugal pumps. Economic improvements in APAC are projected to generate enormous opportunities for pump manufacturers since substantial development is anticipated in the future in the automotive, building, and manufacturing industries. However, heavy competition from low-cost suppliers is a major barrier to the development of the pump industry in the region.
Market Segmentation
The adoption of new technologies in agriculture to improve productivity will increase the demand for rotary pumps. Improved intelligent production plants with pumps connected to cloud services are expected to be available during the forecast period. However, high raw material costs will increase rotary pump prices and could impede their demand. Rotary pumps offer cost-effective options for primary, secondary, and tertiary water management plans for wastewater disposal. The lobe rotary pump is the most used and cost-effective pump for water and wastewater treatment with 3% sludge and over. The rotary pump market is moderately fragmented due to product differentiation, which provides companies with innovation potential.
Product
Centrifugal
Single Stage
Multistage
Submersible
Turbine
Others
Reciprocating
Piston
Diaphragm
Rotary
Gear
Lobe
Peristaltic
Vane
Others
End-user
Industrial
Oil & Gas
Water & Wastewater
Food & Beverage
Chemical
Power
Mining
Pharmaceutical
Others
Agricultural
Commercial
Residential
Geography
APAC
China
Japan
India
Australia
South Korea
Europe
UK
Germany
France
Italy
Spain
North America
US
Canada
Middle East & Africa
Saudi Arabia
UAE
Turkey
Latin America
Brazil
Mexico
Prominent Vendors
Alfa Laval
WILO
Xylem
The Weir Group
Torishima
Sulzer
SPX FLOW
KSB
Kirloskar Brothers
Franklin Electric
Flowserve
DESMI
CIRCOR
Baker Hughes
Nikkiso
Other Prominent Vendors
Arian Pumps
AR North America
Bosch Rexroth
CP Pumpen AG
Dover
Masdaf
Norm Hydrophore Pump
Sempa
Sumak Pump
Vesta Pump
Vansan
Samsun Makina Sanayi
Sahinler Submersible Pump
PUMPPORT
Jetox Pumps
Ebara
Grundfos
Global Pump
Haight Pumps
HERMETIC-Pumpen
Iwaki America
Klaus Union
Kracht
Leitritz Group
Naniwa Pump
Netzsch
Pentair
Roper Pumps
Ruhrpumpen
SEKO
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CONTACT: Arizton Advisory and Intelligence Call: +1-312-235-2040 +1 302 469 0707