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Industrial Pumps Market Size

Report ID: GMI10553
Published Date: Jul 2024
Report Format: PDF

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Industrial Pumps Market Size

Industrial Pumps Market was valued at around USD 44.4 billion in 2023 and is estimated to register a CAGR of around 5.1% between 2024 and 2032, driven by the innovative strategies of major players, technological advancements, and industry progress.

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Notably, sectors like oil and gas, chemicals, water management, and manufacturing are leading this upswing, highlighting an increasing demand for effective pumping solutions. As an example, Flowserve, a prominent player, has notably advanced in creating high-efficiency pumps and digital solutions. Their technology, "Flowserve Seal Minder," offers real-time monitoring for mechanical seals, enhancing pump longevity by averting failures.

Industrial Pumps Market Report Attributes
Report Attribute	Details
Base Year:	2023
Industrial Pumps Market Size in 2023:	USD 44.4 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.1%
2032 Value Projection:	USD 69 Billion
Historical Data for:	2021 - 2023
No. of Pages:	152
Tables, Charts & Figures:	365
Segments covered:	Pump Type, Power Source, Flow Rate, Horse Power, Technology, Application, Distribution Channel, Region
Growth Drivers:	Rapid industrialization and urbanization Technological Advancements
Pitfalls & Challenges:	Cost constraints

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In developing economies, many businesses might deem the cost of advanced industrial pumps and associated technologies prohibitive. This cost encompasses advanced materials, innovative technology, and energy-efficient designs. The industrial pumps market witnesses intense competition, given its multitude of participants, ranging from established entities to newcomers. Such competition can directly influence individual companies' profit margins and market share. Moreover, global supply chain challenges, including logistical hurdles and component supply disruptions, can significantly affect production schedules and delivery timelines for industrial pumps.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Industrial pumps industry size was USD 44.4 billion in 2023 and will grow at 5.1% CAGR between 2024 and 2032 due to increasing industrialization and infrastructure development.

Industrial centrifugal pumps market will reach USD 34.8 billion by 2032, driven by their versatility, efficiency, and wide range of application in various industries for fluid transfer and circulation.

North America industrial pumps industry will register 5.1% CAGR through 2032, attributed to its advanced industrial infrastructure and significant investments in manufacturing and infrastructure projects.

Prominent firms operating in the industrial pumps market are Atlas Copco AB, Ebara Corporation, Flowserve Corporation, Gardner Denver Holdings, Inc., Gorman-Rupp Company, Grundfos, ITT Inc., Kirloskar Brothers Limited, KSB SE & Co. KGaA, SPX FLOW, Inc., Sulzer Ltd., Tsurumi Manufacturing Co., Ltd., Weir Group PLC, Wilo SE, and Xylem Inc., among others.