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Industrial Pumps Market Trends

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

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Industrial Pumps Market Trends

The pump industry is witnessing a transformation, courtesy of the Internet of Things (IoT) and the integration of digital technologies. Smart pumps, equipped with sensors and networking capabilities, enable real-time monitoring, predictive maintenance, and heightened efficiency. This shift is fueling the demand for interconnected pump systems. Furthermore, escalating concerns about global water scarcity and the imperative for efficient wastewater treatment are propelling the growth of the water and wastewater management sector. To address the distribution, treatment, and recycling of water, the industry is increasingly turning to advanced pump systems.

Additionally, innovations in high-performance alloys, corrosion-resistant materials, and advanced coatings are expanding the applications of industrial pumps to a wider array of industries and challenging environments.

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.