(MENAFN- GlobeNewsWire - Nasdaq) Delray Beach, FL, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Pumps market size is projected to grow from USD 61.32 billion in 2024 to USD 79.01 billion by 2029, at a CAGR of 5.2% according to a new report by MarketsandMarketsTM. Emerging revenue pockets for the global Pumps Market include an increased adoption of smart and IoT-enabled pumps that enable predictive maintenance and optimized performance across sectors, as well as increasing uses of energy-efficient pumps, driven by more stringent regulations and sustainability goals. Improving investment in infrastructure will serve as a significant growth stimulant in developing regions, most notably within the Asia-Pacific and the Middle East markets. At the same time, the adoption of electric-driven pumps in renewable energy, water & wastewater treatment, and agriculture sectors offers new avenues for revenue, as those industries continue to grow in response to global environmental and resource management challenges. Browse in-depth TOC on“Pumps Market”
259 – Tables
66 – Figures
288 – Pages
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Scope of the Report
| Report Metric | Details |
| Pumps Market Size Values | CAGR 5.2% USD 79.01 billion by 2029 USD 61.32 billion in 2024 |
| Base Year | 2023 |
| Forecast Period | 2024–2029 |
| Forecast Unit | Value (USD Billion) |
| Segments Covered | Pumps Market by type, operation, end user, and region. |
| Geographic Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa and South America |
| Companies Covered | Holding A/S (Denmark), Xylem (US), Flowserve Corporation (US), KSB Limited (India), and Sulzer Ltd (Switzerland) |
Rotary pumps segment, by type, hold the second-largest market share in global Pumps Market due to their suitability for handling thick viscous fluids and offering smooth continuous flow without pulsation, which makes them worthwhile in oil and gas, chemicals, pharmaceuticals, and food and beverage industries. They are particularly very efficient in transferring thick sticky or abrasive liquids where other pump types cannot cope. Other factors like operational efficiency and flexibility of rotary pumps in lubricants, adhesives, paints, and other viscous fluids heighten market appeal. Because more industries require precision in fluid handling and hence strive to optimize energy consumption, the steady growth of rotary pump demand supports its strong market position.
Mechanical pumps segment, by operation, holds the second-highest market share in the Pumps Market during the forecast period. It is because they are better suited for specialized applications in industries with limited electricity availability or higher energy efficiency requirements. These pumps are used in some oil & gas and mining and agricultural sectors, which require reliable and low-cost operation. There are opportunities to be explored through the increasing demand for eco-friendly solutions with non-electric pumps, such as manual, hand-operated, or solar-powered pumps. Many unstable power supplies or underdeveloped areas will also find a suitable and inexpensive alternative in non-electric pumps. With no need for constant power supply, it increases their adoption rate in developing markets, and they become a first choice in industrial applications and in rural areas.
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Europe holds the second largest market share in the global Pumps Market during the forecast period. It is because of its established industrial bases with stringent environmental regulations and a focus on energy efficiency. Highly efficient, sustainable pumping solutions are required by the various industries in Europe: chemicals, pharmaceutical, water treatment, and manufacturing, which creates demand for more advanced pump technologies. The sustainability and emission reduction commitments of the region add another factor to opting for innovative, energy-efficient pumps for cleaner industrial operations and less degradation. Moreover, extensive investment in infrastructure modernization, water and wastewater management, and a supplier network also underpin Europe's position within the international Pumps Market.
Key Market Players
Diversified strategies are being used by key players in the global Pumps Market, including Grundfos Holding A/S (Denmark), Xylem (US), Flowserve Corporation (US), KSB Limited (India), and Sulzer Ltd (Switzerland) for maintaining the competitive advantage.
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Recent Developments
In November 2024, KSB Limited opened a new service station in Baddi, Himachal Pradesh. This new service station, which covers an area of approximately 4,600 sq. feet, will service pumps in various markets, including water, wastewater, and energy. In October 2024, Sulzer Ltd launched the ZF-RO end-suction pump to match the technical requirements of the energy recovery device (ERD) booster pump service. It combines the reliable design used in the ZF range with extensive references for excellent efficiency in the hydrocarbon and desalination industries. In September 2024, Grundfos acquired Culligan's commercial and industrial (C&I) business in Italy, France, and the UK. This acquisition will likely expand Grundfos's position in the European water treatment market, bringing a complementary portfolio of solutions and technologies for industrial and commercial needs. In September 2023, Xylem Inc. and LORENTZ, the German solar water pump manufacturer, entered into a distribution partnership agreement to expand the availability of solar-powered pumping systems globally. In July 2023, Grundfos Holding A/S acquired XPV Water Partners portfolio company Metasphere, a leading provider of telemetry and analytics solutions for water networks. This acquisition will add to the company's core competencies within pumps and hydraulics and get ART Sewer integrated solutions from Metasphere. In May 2023, Xylem Inc. acquired Evoqua Water Technologies Corp, a leader in mission-critical water treatment solutions and services, to create the world's most advanced platform to tackle critical water challenges faced by customers and communities
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