Industrial Pumps Market By Application (Oil and Gas, Chemicals, Utilities (Water and wastewater), Building, Residential Construction, and Others (Food and Beverage, etc.)), By Product Type (Centrifugal Pumps, Positive Displacement Pumps, and Specialty Pumps) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023

An industrial pump is a device used to transfer fluids (gases or liquids) or sometimes semi-liquid mixtures by mechanical action. Pumps operate through multiple energy sources, including electricity, an engine, wind, or even manually using a reciprocating or rotary mechanism. The global market for industrial pumps is relatively mature and is expected to witness steady growth during the forecast period of 2016–2023. The growth is expected to be spurred by increased infrastructural development leading to increased construction spending and investments made in wastewater treatment and recycling projects by the concerned authorities across the globe. These factors are expected to contribute to a CAGR of 5.2% during the forecast period of 2016–2023.

This report analyses the global industrial pump market in terms of product type, end-use application, and geography. Based on product type, the global industrial pump market is segmented into centrifugal pumps, positive displacement pumps, and specialty pumps. Similarly, on the basis of end-use application, the global market for industrial pumps is further classified into oil and gas, chemicals, building, residential construction, utilities (water and wastewater), and food and beverage, among others. The geographical distribution of the global industrial pumps market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

1.1 Report Description

Purpose of the Report

The purpose of this strategic research study titled "Industrial Pumps Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the industrial pumps market.

1.1.1 Target Audience

• Industry Investors
• Industrial Pump Manufacturers
• Original Equipment Manufacturers
• Other component manufacturers
• Distributors, Retailers, and End-Users

Overall, the research study provides a holistic view of the global industrial pumps market, offering market size and estimates for the period from 2013 to 2023, keeping in mind the above-mentioned factors.

Based on product type, the global industrial pumps market is segmented into the following categories:

• Centrifugal Pumps
• Positive displacement pumps
• Specialty Pumps

As of 2015, centrifugal pumps represented the largest product segment in the global industrial pumps market. It is presumed that centrifugal pumps will continue their dominance throughout the forecast period on account of their low maintenance cost, durability, and ability to effectively handle wide-ranging pressures and loads.

Their ability to handle fluids with high solid content makes them the preferred product variant amongst end-users. In addition, infrastructural development, especially in emerging economies like India and China, is expected to trigger both fresh and replacement demand for centrifugal pumps. On the other hand, positive displacement pumps are presumed to witness maximum adoption, offering healthy growth and investment opportunities during the forecast period of 2016–2023. The anticipated growth in demand for positive displacement pumps can be largely credited to increasing process manufacturing activities, especially in the chemicals and food and beverage sectors.

On the basis of end-use application, the global industrial pumps market is categorized into the following segments:

• Oil and gas
• Chemical
• Building
• Residential Construction
• Utilities (Water and Wastewater)
• Others (food and beverage, etc.)

As of 2015, the oil and gas end-use segment led the global industrial pumps market. The segment accounted for around 25% of the global market revenue share in the same year. The trend shall prolong, and the segment is poised to exhibit sturdy growth during the forecast period of 2016–2023. Growing energy demand coupled with increased production of oil and gas from subsea sources is expected to trigger demand for large and expensive pumps. On the other hand, demand for pumps for water and wastewater treatment is expected to increase.

The demand for pumps for water and wastewater treatment is growing due to a rise in population, infrastructural development, and manufacturing activities. In addition, stringent regulations imposed for brushing vessel stack emissions and ballast water treatment are expected to drive demand for industrial pumps in the utility segment.

On the basis of geography, the global market for industrial pumps is segmented into the following regions and countries:

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia Pacific
• Japan
• China
• India
• Rest of Asia Pacific
• Rest of the World
• Latin America
• Middle East
• Africa

In the base year of 2015, Asia Pacific led the industrial pumps market in terms of both revenue and unit shipments. The region accounts for over 35% of the global demand for industrial pumps and is expected to register robust growth in the coming years, retaining its dominant position through 2023. The anticipated growth in demand for industrial pumps can be credited to the growing industrialization of major countries, including India, China, and South Korea.

Infrastructure development, resulting in increased construction spending and investments in water and wastewater treatment, is also expected to propel the demand for industrial pumps in the region. Developed economies like North America and Europe are expected to witness sluggish growth, with the maximum demand coming from the replacement of existing pumps and parts.

Frequently Asked Question: