What Are The Key Drivers Of Global Pumps Market?

Pumps Market Highlights

Pumps Market is anticipated to surpass over USD 61 Billion by the year 2027, with a CAGR of 5.70% during forecast period.

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Report Attribute	Details
Forecast Period	2022 - 2030
Market Growth value	5.70 % CAGR
Revenue forecast in 2022-2030	USD 61 billion
Base year for estimation	2021
Historical data	2019 – 2020
Unit	USD Billion, CAGR (2021 – 2030)
Segmentation	By Application, By End-Use, and By Region

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Key Players

The key players of the global pumps market are Grundfos (Denmark), Sulzer (Switzerland), Flowserve (US), ITT Corporation (US), Danfoss (Denmark), Ingersoll-Rand (Ireland), The Weir Group (UK), Ebara Corp (Japan), KSB (Germany), Schlumberger (US), Nikkiso Co Ltd (Japan), Wilo AG (Germany), and Roper Industries (US), among others.

Market Research Analysis

Asia Pacific accounts for the largest market for pumps.

Region wise, Asia Pacific held the largest market share of the global Pumps market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment infrastructure development. Moreover, the increased demand from the water and wastewater sector, moderate demand from constructions sector, rising urbanization, and supportive government plans are expected to drive the market for pumps in Asia Pacific region.

Pumps are basically classified into two categories, namely, positive displacement and dynamic pumps. Positive displacement pumps are further classified intro two types, namely, reciprocating and rotary. Dynamic pumps are of two type, namely, centrifugal and special effect pumps. Centrifugal pumps are used to transport liquid with large volume and substantial pressure head and are largely utilized for water, wastewater, and industrial liquid transportation in the power, steel, and domestic sectors.

Based on end-user, the market is segmented as oil gas, water wastewater, power generation, chemicals, pharmaceutical, food beverage, and others. Water wastewater segment is estimated to dominate the market during the forecast period. Water wastewater segment is estimated to dominate the market during the forecast period due to rising investment in waste water industry across the globe. The awareness level of water reuse has increased due to the decreasing level of groundwater globally. Industrial sector consumes a large volume of water, and due to depleting reserves of groundwater, the reuse of water has become essential.

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Scope of the Report

This report provides an in-depth analysis of the global Pumps market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Pumps market by its type, end-user, and by region.
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