Pumps Market Research Report

Pumps Market Size:

The global pumps market size reached USD 77.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 99.0 Billion by 2033, exhibiting a growth rate (CAGR) of 2.78% during 2025-2033. The market is propelled by rapid urbanization and industrialization, significant technological advancements, increasing infrastructure development, rising demand for water and wastewater management, integration of IoT and smart pump technologies, shift toward energy-efficient and eco-friendly pumps, and growing adoption of variable frequency drives (VFDs).

Pumps Market Analysis:

• Major Market Drivers: The pumps market size is expanding, driven by rapid urbanization, industrialization, technological advancements, and increased infrastructure development.
• Key Market Trends: Key market trends include integration of IoT and smart pump technologies, shift toward energy-efficient and eco-friendly pumps, and increasing adoption of variable frequency drives (VFDs).
• Geographical Trends: Rapid industrialization, increasing urban population, and infrastructure development are some of the pumps market key trends in the Asia Pacific region.
• Competitive Landscape: Some of the major market players in the pumps industry include Baker Hughes Company, Ebara Corporation, Flowserve Corporation, Grundfos Holding A/S, ITT Inc., KSB SE & Co. KGaA, Pentair plc, Schlumberger Limited, Sulzer Ltd., The Weir Group PLC, Vaughan Co. Inc., and Xylem Inc., among many others.
• Challenges and Opportunities: Some of the challenges include high energy consumption, varying raw material prices, and stringent environmental regulations. Whereas, increasing adoption of smart pump technology, growth in renewable energy sector, and increasing demand in emerging markets are some of the pumps market recent opportunities.
   

Pumps Market Trends:

Rapid Urbanization and Industrialization

One of the primary factors driving the global pumps market is the rapid urbanization and industrialization seen across various regions, especially in developing economies. According to the World Health Organization, almost 68% individuals are expected to reside in urban areas by 2050. As more individuals migrate to urban areas, the demand for essential infrastructure such as water supply systems, sewage systems, and heating, ventilation, and air conditioning (HVAC) systems increases significantly. This urban expansion necessitates the deployment of a wide range of pumps to ensure the efficient delivery of water and the proper functioning of sanitation systems, thereby creating a positive pumps market outlook. Industrialization also plays a critical role. The expansion of manufacturing and processing industries requires robust pump systems to manage fluids, chemicals, and other materials used in production processes. Pumps are integral to a myriad of industrial applications, from cooling and heating to the transfer of hazardous substances. For instance, in the manufacturing sector, pumps are crucial for maintaining the cooling systems necessary to keep machinery operational and efficient.

Technological Advancements

Technological advancements in pump design and functionality are another major driver of the global pumps market. Pumps market recent developments such as smart pumps equipped with IoT (Internet of Things) capabilities and advanced monitoring systems are revolutionizing the industry. These smart pumps allow for real-time monitoring and control, leading to improved efficiency, reduced downtime, and lower operational costs. They can provide predictive maintenance alerts, thus preventing costly breakdowns and extending the lifespan of the pump systems. Furthermore, advancements in materials science have led to the development of more durable and energy-efficient pump components. Modern pumps are designed to handle a wider range of fluids, including corrosive and abrasive substances, which expands their applicability across different industries. Additionally, the integration of variable frequency drives (VFDs) allows pumps to operate at variable speeds, optimizing energy consumption and reducing wear and tear, further propelling the pumps market growth.

Increasing Infrastructure Development

Infrastructure development, particularly in emerging economies is significantly leading to a significant rise in the pumps demand. Governments and private entities are investing heavily in building and upgrading infrastructure, including transportation networks, water and wastewater treatment facilities, and energy generation plants. For instance, in February 2024, the Biden-Harris Administration announced nearly $6 billion in funding for clean drinking water and wastewater infrastructure. The initiative includes over $2.6 billion designated for upgrading wastewater and sanitation systems, contributing to a total of $7 billion in funding for these projects. These infrastructure projects require a wide array of pumps for various applications. Water and wastewater management are particularly crucial in infrastructure development, thus contributing to the pumps market revenue. As urban areas expand, the need for effective water treatment and distribution systems becomes paramount. Pumps play a vital role in ensuring the efficient movement and treatment of water, making them indispensable in infrastructure projects.

Pumps Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on product type and application.

Breakup by Product Type:

• Centrifugal Pump
  • Axial Flow Pump
  • Radial Flow Pump
  • Mixed Flow Pump
• Positive Displacement Pump
  • Reciprocating Pump
  • Rotary Pump
• Others
   

Centrifugal pump accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product type. This includes centrifugal pump (axial, radial, and mixed flow pumps) and positive displacement pump (reciprocating and rotary pumps) and others. According to the pumps market report, centrifugal pump represented the largest segment.

Centrifugal pumps dominate the market by product type due to their versatility, efficiency, and broad application spectrum. These pumps operate on the principle of converting kinetic energy into hydrodynamic energy through centrifugal force, making them suitable for a wide range of fluid types, including water, chemicals, and petroleum products. Their simple design and ease of maintenance further enhance their appeal, leading to lower operational costs and higher reliability. As per the pumps market overview, centrifugal pumps are also highly efficient in terms of energy consumption, which is critical in applications where continuous operation is required, such as in water supply, wastewater treatment, and industrial processes. Their ability to handle large volumes of fluid at relatively low costs compared to other types of pumps contributes to their widespread adoption. Moreover, technological advancements have improved their performance, durability, and adaptability to different operating conditions, reinforcing their market dominance.

Breakup by Application:

• Agriculture
• Construction and Building Services
• Water and Wastewater
• Power Generation
• Oil and Gas
• Chemical
• Others
   

Water and wastewater hold the largest share of the industry

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes agriculture, construction and building services, water and wastewater, power generation, oil and gas, chemical, and others. According to the report, water and wastewater accounted for the largest pumps market share.

Water and wastewater management is the largest segment in the market breakup by application primarily due to the essential and universal need for clean water and effective waste disposal. With increasing global urbanization and population growth, the demand for efficient water supply and sanitation systems has increased. Municipalities and industries alike rely on a wide range of pumps for water distribution, sewage treatment, and wastewater management to maintain public health and environmental standards. The stringent government regulations and policies aimed at water conservation and pollution control have further propelled the adoption of advanced pump technologies in this sector. The necessity of maintaining and upgrading aging infrastructure in developed countries, coupled with the need for new infrastructure in developing regions, has driven significant investment in water and wastewater projects. According to the pumps market forecast, the dominance of this industry is also attributed to the critical role pumps play in various processes, including water treatment, sludge handling, and wastewater recycling, ensuring the continuous and reliable operation of water and wastewater facilities.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest pumps market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest regional market for pumps.

Asia Pacific Pumps Market

The Asia Pacific region is the largest segment in the global pumps market due to rapid urbanization and industrialization in China, India, and Southeast Asian countries. As these economies grow, there is a heightened demand for infrastructure development, including water supply, sewage treatment, and industrial processes, all of which rely heavily on pump systems. Additionally, the significant investments of the region in manufacturing, construction, and energy sectors further boost pump demand. The agricultural sector, crucial in countries, such as India and China also drive the need for irrigation pumps. The vast population of Asia Pacific base and economic growth create a substantial market for pumps, reinforced by increasing foreign investments and the expansion of local industries.

Europe Pumps Market

Europe's pumps market is driven by stringent regulations related to emissions and energy efficiency, particularly in the EU, which encourage the adoption of advanced, energy-efficient pump technologies. The region shows strong demand in water and wastewater treatment, along with steady growth in the chemical and pharmaceutical sectors. Moreover, Europe's focus on renewable energy projects, such as geothermal and biomass energy, presents significant opportunities for pump manufacturers.

North America Pumps Market

In North America, the pumps market benefits from robust technological advancements and a well-established industrial sector. The U.S. leads the region with a significant demand linked to oil and gas applications, despite recent volatility in oil prices. There is also a growing emphasis on sustainable practices and modernizing infrastructure which promotes the use of high-efficiency pump systems in municipal water management, wastewater treatment, and manufacturing industries.

Latin America Pumps Market

Latin America’s pumps market growth is influenced by the development in mining and agricultural activities, particularly in countries like Brazil, Chile, and Peru. Economic stabilization and recovery efforts across the region are expected to increase investments in water infrastructure and energy sectors, thereby driving demand for pumps. However, the market faces challenges such as political instability and economic fluctuations which can affect growth.

Middle East and Africa Pumps Market

The Middle East and Africa region shows promising growth in the pumps market, primarily driven by investments in water infrastructure, along with oil and gas exploration activities. Countries such as Saudi Arabia, the UAE, and South Africa are leading the demand, focusing on water scarcity solutions and expanding their industrial bases. The push towards diversifying economies and developing sustainable energy sources like solar and wind energy also contributes to the demand for pumps in this region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the pumps industry include:

• Baker Hughes Company
• Ebara Corporation
• Flowserve Corporation
• Grundfos Holding A/S
• ITT Inc.
• KSB SE & Co. KGaA
• Pentair plc
• Schlumberger Limited
• Sulzer Ltd.
• The Weir Group PLC
• Vaughan Co. Inc.
• Xylem Inc.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Key players in the pumps industry are actively pursuing strategies to enhance their market position and address evolving market demands. Major pump companies such as Grundfos, Xylem Inc., Flowserve Corporation, and Sulzer Ltd. are investing heavily in research and development to introduce innovative and energy-efficient pump technologies. They are focusing on smart pump solutions equipped with IoT and advanced monitoring systems to offer real-time data analytics and predictive maintenance, thereby improving operational efficiency and reducing downtime for their consumers. Strategic mergers and acquisitions are another critical approach, enabling these companies to expand their product portfolios, enter new markets, and achieve economies of scale.

Pumps Market News:

• May 2024: Grundfos announced its agreement to acquire Culligan’s Commercial & Industrial business, which operates in Italy, France, and the UK. This acquisition aims to enhance Grundfos' water treatment portfolio and strengthen its position as a leader in water technologies. This move follows previous acquisitions by Grundfos, including EUROWATER, MECO, and Water Works, and is part of their strategy to bolster innovation in water treatment solutions.
• August 2024: Flowserve announced its plan to acquire MOGAS Industries, a move aimed at enhancing its growth strategy in the 3D (digital, decarbonization, and decentralization) sectors. This acquisition is expected to strengthen Flowserve's position in the market by expanding its product offerings and capabilities.
• September 2024: EBARA Corporation announced plans to establish a new testing and development center for hydrogen infrastructure equipment in Futtsu City, Chiba Prefecture, Japan. The project encompasses an approximately 18,000m2 site area, involving an investment of around 16 billion yen. The center will serve as the world's first full-scale commercial product testing facility for liquid hydrogen pumps, utilizing liquid hydrogen at -253°C.

Pumps Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the pumps market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global pumps market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the pumps industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.