Industrial Pumping Machinery Market – Growth of Market Size, Market Dynamics and Forecast Period (2024-2030)

Industrial Pumping Machinery Market Overview

The increasing use of these goods across a range of sectors, such as water and wastewater, chemical, oil and gas, and power generation, is anticipated to positively affect market expansion. Due to the closure of manufacturing businesses, the lockdown measures implemented by the governments of many nations in anticipation of the COVID-19 pandemic in 2020 have had a negative impact on growth. The pandemic has also caused distribution of raw materials to be delayed, which has a negative impact on global industrial capacity. The demand for industrial pumps in power generating is expected to increase as a result of factors like increased electricity demand, industrialisation, and investments in renewable energy generation in various nations.

 

The demand for oil and gas is predicted to increase as oil and gas businesses in the U.S. increase their spending in exploration and production activities. It is anticipated that the regulatory framework put in place in the Middle East and China to improve the output of the domestic refining sector will increase demand for industrial pumps used in refineries throughout these regions. The Middle East and China are expected to experience increased growth as a result. Throughout the projection period, price changes in industrial pump component parts as a result of high end-user industry demand are anticipated to have a detrimental effect on capital investments. Over the anticipated years, major corporations are likely to enhance their efforts in establishing low-cost manufacturing processes and cutting-edge technologies for the productivity improvement of pumps, consequently promoting growth.

 

 

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Industrial Pumping Machinery Market Dynamics

The need for pumping equipment to efficiently transfer liquids, gases, and other materials is driven by the expansion of sectors including manufacturing, oil and gas, chemicals, and construction. The need for pumps and associated equipment is increased by investments in infrastructure projects like water delivery, wastewater treatment, and irrigation systems. Companies are being urged to modernise their pumping equipment through pump innovations, such as energy-efficient designs and sophisticated monitoring systems. Stricter environmental rules compel businesses to use more eco-friendly and effective pumping systems in order to save money and cut emissions.

 

As the world becomes more aware of the problem, investments are being made in desalination and water management, both of which need pumping systems. To cut operating costs, enterprises are encouraged to invest in energy-efficient pumps and systems by rising energy prices and environmental consciousness. Specialised pumping equipment is necessary for the expansion of the oil and gas sector, including offshore drilling and hydraulic fracturing. There is a high need for pumps because of the chemical handling and transportation needs of these sectors. Pumps are needed in the mining and construction industries for applications like slurry transfer and dewatering, which helps the industry expand.

 

Industrial Pumping Machinery Market Opportunities

Increasing demand for renewable energy sources like wind and solar power necessitates effective pumping systems for fluid circulation, heating, and cooling. The need for sophisticated pumping systems in municipal and industrial applications is driven by the growing emphasis on water conservation and wastewater treatment. To extract and transport gas, the oil and gas industry has to continue its exploration and production activities. The tendencies of automation and Industry 4.0 open up chances for creative, energy-efficient pumps in production procedures. Pumping systems are needed for building, water supply, and sewage control due to the rapid urbanisation and infrastructure projects taking place around the world. Effective dewatering and slurry pumping systems are required in mining operations due to the rising demand for minerals.

 

Precision agriculture and irrigation demand efficient pumps for water distribution and crop management. Stringent quality standards in these industries drive demand for specialized pumping equipment. Integration of IoT and data analytics in pumping systems offers opportunities for remote monitoring and predictive maintenance services. Increasing environmental regulations push industries to adopt eco-friendly and energy-efficient pumping solutions.

 

Industrial Pumping Machinery Market Challenges

As the market for energy-efficient products grows, producers must create pumps with low energy consumption and minimal environmental impact. High maintenance expenses might be a problem because industrial pumps need to have their parts replaced and maintained frequently. For certain manufacturers, it can be expensive and difficult to keep up with technological breakthroughs and incorporate smart features. It can be difficult to comply with strict environmental rules, particularly in industries that handle dangerous materials. The market is quite competitive, with firms competing for market share from different parts of the world. This can put pressure on prices. Global calamities like the COVID-19 pandemic have brought attention to supply chain weaknesses, influencing the availability of parts and resources.

 

The market is divided into different pump types (such as centrifugal and positive displacement pumps), which makes it difficult for both sellers and customers to navigate. Manufacturers are under pressure to create environmentally friendly pump solutions as sustainability and carbon emissions are becoming more and more important. For some businesses, it might be difficult to locate competent professionals to operate and maintain complex pumping equipment. As technology advances, earlier pump models may become outdated, necessitating constant innovation and adaption.

 

Industrial Pumping Machinery Market Restraints

The industrial pumping equipment's high initial costs, which include the purchase and installation, may put off some potential purchasers. Pumping equipment frequently uses a significant amount of energy, which raises the cost of operating. Concerns about energy efficiency and growing energy costs may restrain market expansion. To keep pumping equipment operating effectively, routine maintenance and repairs are required. Some businesses may find these recurring costs to be burdensome. Strict environmental regulations mandate particular efficiency and emissions limits for industrial pumping equipment. Compliance can be difficult for producers and expensive. Rapid technological development in this industry can cause equipment obsolescence, making it challenging for businesses to stay on top of the most recent advances.

 

The industrial pumping equipment industry is highly fragmented, with both small and major manufacturers present. It can be difficult for businesses to sustain market share and profitability due to intense competition. Economic downturns and fluctuations may have an influence on certain industrial sectors, which may then have an impact on the demand for pumping equipment, notably in sectors like manufacturing and construction. Disruptions in the global supply chain and natural disasters can cause delays in the manufacture and delivery of pumping equipment, which can have an impact on the stability of the market. Some companies research new technologies that, in some cases, could replace old pumping equipment, such 3D printing or pneumatic systems.

 

Industrial Pumping Machinery Market Trends

By converting rotating kinetic energy to fluid flow hydrodynamic energy, centrifugal pumps move fluids. Rotational energy is frequently provided by an engine or an electric motor. They are axisymmetric dynamic work-absorbing turbo machineries. Both dangerous and delicate fluids can be pumped with centrifugal pumps. Centrifugal pumps are simple in their design and operation, have no issues with leakage, and do not lose power due to friction. Since there is enough room between the motor and the chamber, heat transfer is also not a problem. The need for centrifugal pumps in refineries has increased as a result of the expanded worldwide refining capacity, and this trend is anticipated to last for some time. The Statistical Review of World Energy estimates that the world's daily refining capacity will reach 101902 thousand barrels in 2022, with a 0.5% annual growth rate.

 

Similar to this, centrifugal pumps are frequently employed in the manufacturing of chemicals, water supply, and sewage disposal. By offering SEK and SES end-suction centrifugal pumps for delivering clean water to municipalities, water treatment facilities, irrigation systems, and commercial applications, for instance, Sulzer Ltd. broadened the scope of its range. In general, the market for centrifugal pumps will be driven by the need for refined fossil fuels and emerging industries in developing and developed countries.

 

Industrial Pumping Machinery Market Regional Insights

North America: The industrial sector is well-established in North America, particularly in the United States and Canada. Because of the substantial manufacturing, oil and gas production, and building activities, there is a high need for industrial pumping equipment.

 

Europe: The industrial sector in Europe is likewise strong, with large contributions coming from nations like Germany, France, and the United Kingdom. Manufacturing in the automotive, chemical, and pharmaceutical industries is a major driver of the demand for pumping equipment.

 

Asia-Pacific: This region, which includes nations like China and India, has experienced a quick industrialization. In order to assist industries including manufacturing, mining, and infrastructure development, there has been an increase in demand for pumping equipment.

 

Middle East & Africa: The Middle East needs sophisticated pumping equipment for oil and gas exploration and production, especially in oil-rich nations like Saudi Arabia and the UAE. The mining and agricultural industries in Africa fuel demand for industrial pumps.

 

Latin America: The need for pumping equipment in nations like Brazil and Mexico is fuelled by the region's expanding industrial operations in industries like mining, water management, and agriculture.

 

Industrial Pumping Machinery Market Segment Analysis

A pump moves liquids by means of mechanical action. Pumping applications for industrial pumps include oil and gas operations, well water pumping, aquarium and pond filtration, water cooling and fuel injection in the automotive industry.

 

Type, end-user industry, and geography are used to segment the industrial pump market. Centrifugal pumps, reciprocating pumps, rotary pumps, and other types of pumps are the sorts of pumps into which the market is divided. Oil and gas, water and wastewater, chemicals and petrochemicals, mining, power generation, and other end-user industries are the market's main end-user segments. The market size and projections for the industrial pump market across the major regions are also covered in the report. For each segment, market estimates and forecasts have been made based on revenue (USD).

 

Industrial Pumping Machinery Market Competitive Landscape

EBARA Corporation: In keeping with the globalisation of the hydrogen market, EBARA Corporation produced one of the first liquid hydrogen booster pumps for hydrogen power generation.

 

Sulzer Ltd.: An upgraded submersible recirculation pump from Sulzer was released with better performance and efficiency. The newest line of recirculation pumps features design modifications that increased hydraulic efficiency by 20% points. Additionally, a new 25 kW unit at the top of the range for the Premium Efficiency drive motors boosts performance for larger applications. The improvements to the propeller design and the reduction of the clearances between the propeller and the shroud have led to efficiency increases.

 

Flowserve Corporation: TMGcore, Inc., a major Texas-based developer of high-performance computing solutions with expertise in liquid immersion cooling technologies, has contracted with Flowserve Corporation to purchase pumps from them. Commercial-grade pumps that enable fluid movement and recirculation are an essential part of immersion-cooled devices.

 

Industrial Pumping Machinery Market Scope Table

Industrial Pumping Machinery Market
Market Size in 2023	USD  66.01 Bn.
Market Size in 2030	USD  88.63 Bn.
CAGR (2024-2030)	4.30 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Type Centrifugal Pump Reciprocating Pump Rotary Pump
	by End-user Oil & Gas Water & Wastewater Chemicals & Petrochemicals Mining Power Generation
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Industrial Pumping Machinery Market Key Players

1. Flowserve Corporation
2. Sulzer Ltd.
3. EBARA Corporation
4. Grundfos Holding A/S
5. Weir Group PLC.
6. KSB AG.
7. ITT Inc.
8. Dover Corporation
9. Schlumberger Ltd
10. Baker Hughes Inc.
11. Xylem
12. Vaughan Company
13. Iwaki Co. Ltd.
14. SPZ Flow