According to IMARC Group’s latest report, titled “Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the pumps market share.
The global pumps market size reached US$ 72.65 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 89.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.32% during 2023-2028. Pumps are mechanical devices that are designed to move fluids or gases from one location to another. They are widely used in various industries, such as chemicals, oil and gas, and water treatment. Pumps work by creating a pressure difference, which causes the fluid to flow through a pipe or a system. There are many different types of pumps, each with its own unique set of features and advantages. Some common types of pumps include centrifugal pumps, positive displacement pumps, and air-operated diaphragm pumps. Pumps play an essential role in many industrial processes and are critical to the smooth functioning of various systems.
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Pumps Market Growth and Development:
The rise of industrialization in various sectors, such as oil and gas, chemical, and water treatment, represents a key factor driving the market growth across the globe. In line with this, the increasing need for water and wastewater treatment is contributing to the growth of the market. This is primarily attributed to the rising population and urbanization. The market is also driven by the increase in infrastructure development, such as the construction of new buildings and facilities, as pumps are required for heating, ventilation, and air conditioning (HVAC) systems. Other factors, such as the increasing product utilization in the power generation industry and the escalating need for reliable power generation solutions, are creating a positive outlook for the market further across the globe.
Pumps Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the pumps market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Baker Hughes Company
- Ebara Corporation
- Flowserve Corporation
- Grundfos Holding A/S
- ITT Inc.
- KSB SE & Co
- KGaA, Pentair plc
- Schlumberger Limited
- Sulzer Ltd.
- The Weir Group PLC
- Vaughan Co. Inc.
- Xylem Inc, etc.
Key Market Segmentation:
The report has segmented the global pumps market based on product type, application and region.
Breakup by Product Type:
- Centrifugal Pump
- Axial Flow Pump
- Radial Flow Pump
- Mixed Flow Pump
- Positive Displacement Pump
- Reciprocating Pump
- Rotary Pump
- Others
Breakup by Application:
- Agriculture
- Construction and Building Services
- Water and Wastewater
- Power Generation
- Oil and Gas
- Chemical
- Others
Breakup by Region:
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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