The Global Water Pump Market size is expected to reach $71.7 billion by 2028, rising at a market growth of 4.5% CAGR during the forecast period.
A water pump is a tool that raises water pressure so that it may be moved from one place to another. Modern water pumps are utilized globally to deliver water for agricultural, industrial, municipal, and residential uses. In sewage treatment facilities, wastewater is also transported using water pumps. Electricity is often used to power water pumps; other energy sources like gasoline or diesel engines are also used.
The need for pumps rises as the oil and gas sectors expand, which is expected to accelerate the expansion of the water pump market. In addition, the demand for water pumps is increasing due to the ease with which ordinary valves may be modified utilizing automated actuators or control systems. Additionally, the food and beverage sector, particularly in developing countries, has seen significant growth in demand for water pumps. The major components of a pump body are the body, seat, and stem, which may or may not be made of the same material.
Additionally, industrial pumps are often made to order and come with pre-designed valves tailored to the business's needs. Further, the use of pumps is increasing in the oil and gas, food and beverage, power generating, water and wastewater treatment, chemicals, and other significant processing sectors. Additionally, due to increased agriculture and demand for processed foods, nations like India, Brazil, and others have seen substantial expansion in the food and beverage processing business.
This has led to a significant increase in the need for water pumps in the processing sectors, boosting the market for water pumps. Additionally, it is projected that changes in the price of raw materials would impede the expansion of the water pump market. On the other hand, it is launched that technical advancements in water pumps would provide profitable prospects for expanding the water pump market.
The COVID-19 pandemic has halted the manufacture of several items for users of water pumps, primarily due to protracted lockdowns in important worldwide nations. This has considerably slowed the demand for water pumps during the epidemic. The U.S., Germany, the UK, Italy, and China, all significant manufacturing nations severely impacted by the coronavirus outbreak that halted demand for equipment and machinery, were formerly the primary sources of order for such items. To react to immediate emergencies and establish new methods of operating after COVID-19 infection instances start to decline, makers of equipment and machinery must concentrate on safeguarding their employees, operations, and supply networks.
Centrifugal pumps don't have a leakage problem and may pump away dangerous liquids without losing their performance. Furthermore, due to their straightforward construction, centrifugal pumps are far less likely to experience wear and tear than other pumps. These elements will probably increase the centrifugal pump segment's water pump market share. The increased emphasis on wastewater purification and saltwater desalination for household use is also one of the significant market trends for industrial water pumps. This is driving up demand in wastewater treatment facilities for centrifugal water pumps.
Water pumps are also widely used in the oil and gas and refining sectors for various purposes, including pipelines, pumping stations, cooling loops, circulation for heat exchangers, cooling systems, water supply and drainage, hot water discharge, and cooling and refrigeration systems. The use of water pumps is spreading around the globe due to increasing investments in the exploration and extraction of conventional oil and gas. In addition, the oil and gas industry's upstream operations are anticipated to increase output levels, which will fuel the water pump market projection. This supports the growth of the regional market.
The market expansion is anticipated to be constrained by the high initial cost of the smart pump. Intelligent pump frameworks have advanced to use wireless technology for greater control over greater distances. However, doing so may have a very high startup cost, which many end users would need help to afford. Nevertheless, they may get government assistance over the coming years as they realize how clever pumps may help with energy conservation in the face of the present energy crisis. Furthermore, since they need less manual labor and have more compelling features, smart pumps are superior pumping options for the mining and metal sectors. As a result, the market's expansion has been limited by its decline.
Based on the type, the water pump market is segmented into centrifugal and positive displacement pumps. In 2021, the centrifugal pumps segment dominated the water pump market by generating maximum revenue share. This is because centrifugal pumps, the most common type of pump used in industries including oil and gas, chemical, water and wastewater treatment, agricultural, and construction, are the most significant technology for handling water and thin liquids and slurries. A centrifugal pump offers numerous benefits over other materials, including durability and ease of maintenance.
Based on the driving force, the water pump market is divided into electric-driven and engine-driven segments. The engine-driven segment covered a considerable revenue share in the water pump market in 2021. The pump and engine designs are straightforward, contributing to their long lifespans and ease of maintenance. Additionally, they last a very long period since they are repairable. These water pump sets work well and provides top-notch goods. These pumps are also quite sturdy and lasting. It has a long lifespan and provides excellent overall performance if used appropriately.
Based on application, the water pump market is bifurcated into oil & gas, chemicals, power generation, water & wastewater, and others. In 2021, the oil & gas segment held the highest revenue share in the water pump market. Due to the tremendous need for water pumps from almost all its operations, the oil and gas sector consumes the most water pumps. In addition, the infrastructure of the oil and electricity industries has seen significant investment due to the rise in worldwide energy demand. Additionally, European nations have prioritized the production of electricity from renewable resources, including solar, geothermal, and hydraulic energy.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 53.2 Billion |
| Market size forecast in 2028 | USD 71.7 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 4.5% from 2022 to 2028 |
| Number of Pages | 214 |
| Number of Table | 353 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Application, Driving Force, Type, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on geography, the water pump market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2021, Asia-Pacific region led the water pump market with maximum revenue share. Most of the emerging nations in Asia-Pacific, including Indonesia, Vietnam, and India, provide the profitable potential for the water pumps industry. Additionally, it is projected that growing countries like China and India will continue to build their infrastructure, which would support the expansion of the water pump market.
Free Valuable Insights: Global Water Pump Market size to reach USD 71.7 Billion by 2028
The major strategies followed by the market participants are Acquisition. Based on the Analysis presented in the Cardinal matrix; Atlas Copco AB and Sulzer Ltd. are the forerunners in the Water Pump Market. Companies such as Xylem, Inc., Ebara Corporation and Grundfos Holding A/S are some of the key innovators in Water Pump Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Atlas Copco AB, Baker Hughes Company, Flowserve Corporation, Grundfos Holding A/S, Sulzer Ltd., Ebara Corporation, Xylem, Inc., KSB SE & Co. KGaA, Kirloskar Brothers Limited (Kirloskar Group), and Husqvarna Group.
By Type
By Driving Force
By Application
By Geography
The global Water Pump Market size is expected to reach $71.7 billion by 2028.
Centrifugal water pumps have a simple design and a low fuel need are driving the market in coming years, however, High cost associated with the product restraints the growth of the market.
Atlas Copco AB, Baker Hughes Company, Flowserve Corporation, Grundfos Holding A/S, Sulzer Ltd., Ebara Corporation, Xylem, Inc., KSB SE & Co. KGaA, Kirloskar Brothers Limited (Kirloskar Group), and Husqvarna Group.
The expected CAGR of the Water Pump Market is 4.5% from 2022 to 2028.
The Electric Driven segment acquired maximum revenue share in the Global Water Pump Market by Driving Force in 2021 thereby, achieving a market value of $46 billion by 2028.
The Asia Pacific market dominated the Global Water Pump Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $28.3 billion by 2028.
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