Market Size

The global pump market size was valued at USD 60.5 billion in 2019 and is estimated to reach a value of USD xx billion in 2027. The pump market analysis shows that it will grow with a CAGR of 5.9% over the forecast period of 2021 to 2027.

Market Driver

The adoption of pumps is becoming immensely popular in different industries, such as chemical, water and wastewater, power generation, and oil and gas, which will drive the market growth. Thus, global pumps become a popular requisite in a large variety of shapes, sizes, and capacities. Moreover, their use is quite extensive in the power industry for a variety of processes such as boiler feed, sludge handling, and circulation. In the coming years, the chemical industry's expansion is expected to have a positive effect on the overall product demand.

Product Outlook

Centrifugal pumps were dominant in the market in 2020, accounting for 63.5% of global revenue. Global demand is expected to increase as a result of the boom in hydraulic fracturing in the O&G segment in Canada, the United States, the United Kingdom, and Brazil. The positive displacement pumps segment is anticipated to grow with the highest CAGR of 4.5% during the forecast period Key factor driving this market growth is its capacity to operate at lower speeds, which makes them less susceptible to damage from slurries and high viscosity oils. Furthermore, these are preferred in the oil and gas industry as a result of the centrifugal pumps' limitations. Reciprocal pumps are used in a large number of applications due to their high suction lift and simple design. Additionally, they have fewer components, which results in lower maintenance and repair costs. Reciprocal pumps are used in a wide variety of liquids, including acids, pure water, slurries, and different viscous fluids. Submersible pumps are used to pump excess water from flooded basements or construction sites. Additionally, they are used to remove excess slurries. Submersible pumps are used in the oil and gas industry to transport oil from offshore or inland oil wells to facilities above the surface.

Geographical Outlook

Asia Pacific was dominating the market in 2020, and further accounting for 45% of global revenue. Additionally, the market expects expansion as application industries such as chemical, water, and wastewater, and oil and gas continue to grow at a rapid pace. The burgeoning demand for reusable water is a major issue in emerging economies such as China, India, and Malaysia. This will heighten the regional market growth during the forecast period. Analysts are expecting North America to undergo significant growth as a result of technological advancements relating to the region's superior performance of pumping systems. Additionally, rising demand for the O&G segment is expected to drive regional market growth. Europe's market is expected to expand at a 4%  compound annual growth rate during the forecast period of 2021 to 2027. Stringent regulations aim at reducing domestic water pollution are will further propel the demand for water treatment in the industrial and municipal segments in the coming years. Increased installation of water and wastewater treatment plants in the Middle East and Africa is likely to boost the product need. This is due to the growing demand for potable water in the industrial and residential sectors. Additionally, the rising demand for crude oil to support manufacturing centers, international and domestic transportation will boost onshore and offshore exploration activities in the region. Thus, it is expected to positively impact the market curve.

Research Methodology

Pump market report consists of market analysis including both primary and secondary research. Primary research comprises of the interaction between manufacturers, industry experts channel partners, and end-users, while the secondary research presents an analytical interpretation of relevant published databases, which contains details like company annual reports, and financial reports, white papers, and purchased databases. For single, team, and corporate user licenses, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an enquiry for the pricing details.

About Us

Market Insight Solutions is a leading market research firm that caters to a diverse portfolio of research campaigns. We are one of the fastest-growing research organizations led by an extensive team of individuals. Our team has individuals with more than 10 years of experience in diverse research domains. Our strategic insights aim at providing credible and practical solutions to meet the specific requirements of our clients. We offer market studies on basis of facts across cross domains.

Segments Covered in the report

Pump Market Size and Outlook by Pump Type

• Dynamic Pump
  • Centrifugal pumps
  • Vertical centrifugal pumps
  • Horizontal centrifugal pumps
  • Submersible pumps
  • Fire hydrant systems
• Positive Displacement Pump
  • Diaphragm pumps
  • Gear pumps
  • Peristaltic Pumps
  • Lobe pumps
  • Piston Pumps

Pump Market Size and Outlook by Driving Forces

• Engine-Driven
• Electrical-Driven

Pump Market Size and Outlook by Position

• Submersible
• Non-submersible

Pump Market Size and Outlook by Operation

• Portable
• Stationary

Pump Market Size and Outlook by Application

• Oil & Gas
• Chemicals
• Construction
• Power
• Water & Wastewater Treatment
• Others

Pump Market Size and Outlook by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Companies Profiled in this Report

• A.R. North America, Inc.
• Colfax Corporation
• Flowserve Corporation
• Global Pump
• GRUNDFOS
• Haight Pumps
• ITT Corporation
• Iwaki America Inc.
• SPX Flow Inc.
• Vaughan Company Inc.

Actionable Outcomes

Our Pump Market Report offers a thorough assessment of estimations and projections on the market dynamics. Further, it helps in the implementation of these results as they show tangible benefits. Additionally, it will also influence business stakeholders and industry entities' decisions as leaders.

Strategic Planning

Every business needs to understand how their product will function in the forthcoming years. With the current uncertainness due to the COVID-19 scenario, this analysis becomes significant to understand past disruptions and boost the preparedness for the next steps of decision. We at Market Insight Solutions are trying to break down the complex market for the business leaders through strategic insights and resilience in unpredictable situations.

Highlights of the report:

• COVID-19 impact on Pump market size
• Pump market size, drifts, drivers, and opportunities
• Analyzing the regional market for the growth factors, estimated analysis, and its penetration to the global market
• Pump market size in the United States
• Understanding the dynamics of the parent market
• Prime fluctuations of the market dynamics
• Evaluation of the market opportunities
• Historical, current, and projected Pump market size from the standpoint of both value and volume
• Market segmentation and comprehensive analysis in the second or third level
• Reporting and evaluation of recent industry developments
• Analysis of market share and developments
• Detailed company profiling of leading companies
• Opportunities to newer markets in global and regional markets
• Analyzing the trajectory line of the business
• Analyze Pump market share
• Measures to consider for Pump market