The global Industrial Pumps market is forecast to reach USD 93,621.5 million by 2026, according to a new report by Reports and Data. Industrial pumps find their application in various sectors and help in mainly transferring liquids from one location to another. Technological trends like the introduction of magnetic drive pumps, intelligent pump systems, and next-generation industrial automation are boosting the growth of this market. Rapid infrastructural development is another driving factor. APAC countries are witnessing rapid construction which in turn is boosting the market for industrial pumps. Demand for industrial pumps from the process and manufacturing industries is a significant driving factor. The rise in product energy pumps for the transportation and extraction of oil and natural gas is having a positive effect on the market. An increase in crude oil price is also boosting the demand for the market as it fuels the energy sector’s revenue.
Growing construction, automotive, and manufacturing industries are expected to raise the demand for industrial pumps in the Asia Pacific region. The Indian government has passed a policy for the promotion of FDI investment in the oil and gas sector. This will increase the production of petrochemicals and polymers in the country, hence propelling the demand in this region. Increased investment in desalination plants and wastewater is also expected to increase the sale of industrial pumps. Industrial Pumps are also in high demand from the power generation sector.
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The chemicals and materials industry produces a massive variety of products consumed by people across the world on a daily basis. While several products, namely detergents, perfumes, soaps, and others are bought directly by the consumers, the others are used as ingredients to make numerous products. For instance, in Europe, nearly 70% of the chemicals that are manufactured are used to make other products. The industry uses a wide range of raw materials ranging from oil, minerals, air, and others. With growing competition among industry players, innovation remains vital in discovering new paths to meet the needs of sophisticated, demanding, and environmentally conscious consumers.
The competitiveness within the chemical industry and among the chemicals, the chemical industry spends large amounts on research, particularly in the highly industrialized countries, which will foster market size in the coming years.
Industry players in the Industrial Pumps market are adopting the strategy of forwarding integration to cater to increasing product demand and to enhance their footprint in the global market.
This market report provides details of new recent developments, import-export analysis, trade regulations, production analysis, value chain optimization, market share, analyses opportunities in terms of emerging revenue pockets, the impact of domestic and localized market players, changes in the market, trends, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
North America is expected to dominate the global materials and chemicals market landscape during the forecast period owing to the strong presence of prominent industry players in this region.
APAC is projected to be the fastest-growing Industrial Pumps market globally. The increasing manufacturing and export over the past years have led several global leading companies to not only make huge investments in the region’s chemical sector but also set up their own manufacturing sites to increase their presence in this emerging market.
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Top companies operating in the market and profiled in the report include:
Flowserve Corporation (U.S.), Grundfos Holding A/S (Denmark), ITT Inc. (U.S.), Suzler Ltd. (Switzerland), Titan Manufacturing Inc. (U.S.), Ebara Corp. (Japan), Weir Group PLC (Scotland), Schlumberger Ltd. (U.S.), Baker Hughes Inc. (U.S.), and Clyde Union Inc. (Scotland) among others.
Industrial Pumps Market Segmentation:
The report segments the Industrial Pumps markets on the basis of product types, end-use industries, technology, and region.
Type Outlook (Revenue, USD Million; 2018-2026)
Capacity Outlook (Revenue, USD Million; 2018-2026)
Small Capacity Pumps
Medium Capacity Pumps
High Capacity Pumps
End Users Outlook (Revenue, USD Million; 2018-2026)
Water and wastewater
Oil & Gas
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Key Points Illustrated in the Regional Analysis:
Regional contribution to the overall market revenue
Forecast revenue share of each regional market
Vital information and data related to the production and consumption rates in all the regions
Factors driving the regional market growth over the forecast period
Leading products and application segments in each regional market
Presence of key market competitors in each of these regions
Regional Analysis covers:
Middle East & Africa
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