Pumps Market (By Product: Stationary, Portable; By Driving Force: Electrical Driven, Engine Driven; By Technology: Diaphragm Pumps, Centrifugal Pumps; By Application: Oil & Gas, Mining, Municipal, Building & Construction, Industrial) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

Acumen research and consulting estimates that global Pumps market is expected to reach the market value of around US$ 82 Bn by 2027 and is anticipated to grow at a CAGR of around 3% in terms of revenue during the forecasting period 2020 – 2027.

Pumps are equipment which operates by mechanical operation, circulates gasses, and other. Pumps of various forms are available depending on location, systems, power source, fuel, etc. Pumps find use in various end-user industries like petroleum / gas, coal, industrial, food & beverages, construction, forestry, flow conversion, etc.  

The report provides analysis of global Pumps market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Dynamics

Improved demand from leading end-user industries such as oil and gas, chemical & petrochemical products, water and wastewater, mining etc. drives the pumps market growth In addition, exploration and development operations are projected to move into deeper offshore areas, leading to growing ventures for offshore deep-sea, owing to the increase in oil prices and the rising number of onshore and offshore fields maturing is expected to drive during the forecast period. Nonetheless, the technical success of mainstream pumps such as solar pumps in the alternative method is expected to obstruct the demand of pumps during this estimated time. Due to the rising water demand, the production of water and waste water services has become imperative. As a result of rapid water infrastructure growth, demand for pumps from the water and wastewater industries is increasing quickly. This will push the pump demand in effect during the prediction period.

Regional Stance

Asia-Pacific has undergone rapid economic growth, contributing to industrial infrastructure expansion. Industrial infrastructure in the region with policy emphasis on driving the various applications sectors is experiencing growth.

Most Asia-Pacific countries are in an increasing process, which has led to increased demand for water supplies as a result of the higher population growth. As Chinese companies tend to sell low-cost goods, leading producers differentiate themselves by integrating innovative technologies and a range of additional services. Despite growing emphasis on cost savings, equipment leasing is becoming a feasible and cost-effective option to purchasing. Pump producers have also developed innovative approaches to address these developments and satisfy different demands for multiple end users.

North America and Europe have a strong growth opportunity owing of rising demand for oil & gas and fresh drinking water. Rapid urbanisation, population development and knowledge of water and wastewater treatment have made the introduction of heavy-duty pumps simpler.

Report coverage

The market research study on “Pumps Market (Pumps Market By Product: Stationary, Portable; Pumps Market By Driving Force: Electrical Driven, Engine Driven; Pumps Market By Technology: Diaphragm Pumps, Centrifugal Pumps; Pumps Market By Application: Oil & Gas, Mining, Municipal, Building & Construction, Industrial) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Pumps market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Pumps market size, and segment markets by frequency, sales channel, vehicle type, and geography along with the information on companies operating in the market. The Pumps market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Pumps market is segmented as below:

Market Segmentation

Pumps Market By Product

• Stationary
• Portable

Pumps Market By Driving Force

• Electrical Driven
• Engine Driven

Pumps Market By Technology

• Diaphragm Pumps
• Centrifugal Pumps

Pumps Market By Application

• Oil & Gas
• Mining
• Municipal
• Building & Construction
• Industrial

Pumps Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

Key Players and Market Situation

Participants include major global players such as Gorman Rupp, Magnum, Flowserve Corp., Xylem Inc., Atlas Copco, Gardner Denver, MultiQuip Generac, Ebara Corp., Grundfos, Wacker Neuson, Sulzer Ltd., Others.

Prominent manufacturers have failed to manufacture heavy duty pumps for various industries including chemical products, food processing, mining etc. Regional players, such as the Alfa Pumps company in India, for instance, are providing heavy duty gear pumps to the food and chemical industries and the centrifugal heavy duty mining pumps from Sunbo Pumps in China.