Global Pumps Market Expected to Reach USD 99.0 Billion by 2033 - IMARC Group

Global Pumps Market Statistics, Outlook and Regional Analysis 2025-2033         

The global pumps market size was valued at USD 77.3 Billion in 2024, and it is expected to reach USD 99.0 Billion by 2033, exhibiting a growth rate (CAGR) of 2.78% from 2025 to 2033.

One of the key drivers of the global pumps market is the rapid urbanization and industrialization across various regions, particularly in developing economies. For instance, according to the World Health Organization, nearly 68% of the population will live in urban areas by 2050. As more people move to cities, the need for critical infrastructure, such as water supply, sewage, heating, ventilation, and air conditioning (HVAC) systems grows dramatically. This urban expansion requires the deployment of a diverse variety of pumps to provide efficient water delivery and the proper operation of sanitation systems, resulting in a positive pump market forecast.

Moreover, infrastructure expansion, particularly in emerging nations, is driving a considerable increase in pump demand. Governments and corporate groups are making significant investments in infrastructure development and upgrades, such as transportation networks, water and wastewater treatment facilities, and electricity-producing plants. For example, in February 2024, the Biden-Harris administration announced approximately US $6 Billion in funding for clean water and wastewater infrastructure. The effort includes more than US $2.6 Billion for wastewater and sanitation system upgrades, bringing the total investment for these projects to US $7 Billion. These infrastructure projects necessitate a diverse set of pumps for distinct uses. Water and wastewater management are especially important in infrastructure development, which adds to the pumps market share. Furthermore, innovations in pump technologies are enhancing efficiency, reliability, and performance. Developments include the integration of Internet of Things (IoT) capabilities and the adoption of smart pump technologies, which allow for real-time monitoring and control, leading to improved operational efficiency. For instance, in August 2022, Kirloskar Brothers Ltd (KBL), a world-class pump manufacturing firm with expertise in engineering and fluid management systems, launched a new version of its distinctive the Internet of Things-based pump monitoring system, KirloSmart. KirloSmart is a unique hardware-software solution developed by KBL that allows the user to remotely monitor and troubleshoot the pump in real time without manual intervention, predict and take corrective measures to prevent breakdowns, and ensure the pump performs optimally.

Global Pumps Market Statistics, By Region

The market research 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, owing to the growing urbanization.

North America Pumps Market Trends:

Ongoing investments and collaboration by key players in upgrading and expanding infrastructure, particularly in water treatment and wastewater management, are increasing the demand for pumps. For instance, in July 2024, Workdry International, the parent company of engineered pump rental solutions and wastewater treatment asset rental providers Selwood, Siltbuster, and Vanderkamp, announced a strategic expansion into the North American market by acquiring Holland Pump Company, a regional market-leading water handling and pump rental services provider in the United States.

Europe Pumps Market Trends:

The European Union's commitment to reducing energy consumption has led to the adoption of high-efficiency pumps. The implementation of the Eco-Design Directive mandates the use of energy-efficient glandless circulating pumps, aiming for a 50% reduction in energy usage by 2020.

Asia Pacific Pumps Market Trends:

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 region’s significant investments in manufacturing, construction, and energy sectors further boost pump demand. The agricultural sector, crucial in countries, such as India and China also drives the need for irrigation pumps. For instance, in June 2021, Honda India Power Products (HIPP), a manufacturer of power products in India, launched 2-inch and 3-inch categories of "Self-priming" - "Gasoline (petrol) driven water pumps to meet farmers' need to irrigate farmlands efficiently and inexpensively. 

Latin America Pumps Market Trends:

The region's expanding industrial sector, particularly in oil and gas, mining, and chemical processing, has increased the demand for pumps. For instance, the surge in mining activities in countries like Brazil and Chile necessitates robust pumping solutions for mineral extraction and processing.

Middle East and Africa Pumps Market Trends:

Modern farming practices and the expansion of irrigation systems have led to increased demand for pumps. In Africa, agriculture accounts for a substantial portion of the GDP. For instance, Across Africa, south of the Sahara, agriculture is the largest sector in the economies of most countries, accounting for between 30 and 40% of GDP. This further necessitates efficient water management solutions, including centrifugal pumps, to enhance productivity.

Top Companies Leading in the Pumps Industry

Some of the leading pumps market companies 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. For instance, in May 2024, Grundfos acquired Culligan's Commercial & Industrial business, which operates in Italy, France, and the United Kingdom. The acquisition intends to expand Grundfos' water treatment range and boost its position as a water technology leader. This move follows Grundfos' past purchases of EUROWATER, MECO, and Water Works, and is part of their aim to drive innovation in water treatment systems. Similarly, in August 2024, Flowserve planned to acquire MOGAS Industries in order to strengthen its growth strategy in the 3D (digital, decarbonization, and decentralization) sector. This acquisition is expected to improve Flowserve's market position by expanding its product portfolio and capabilities.

Global Pumps Market Segmentation Coverage

• On the basis of the product type, the market has been bifurcated into centrifugal pump (axial flow pump, radial flow pump, and mixed flow pumps), positive displacement pump (reciprocating pump and rotary pump), and others, wherein centrifugal pump represented the largest segment due to their versatility, efficiency, and broad application spectrum.
• Based on the application, the market is categorized into agriculture, construction and building services, water and wastewater, power generation, oil and gas, chemical, and others, amongst which water and wastewater accounted for the largest pumps market share due to the essential and universal need for clean water and effective waste disposal.

Browse IMARC Related Reports on Pumps Market:

• Japan Pumps Market Report