The pumps market share is expected to increase by USD 22.14 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.73%.

This pumps market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers pumps market segmentation by product (centrifugal pumps, specialty pumps, and positive displacement pumps), end-user (oil and gas, water and wastewater, chemical, building, and others), and geography (APAC, Europe, North America, South America, and MEA). The pumps market report also offers information on several market vendors, including Alfa Laval AB, Danfoss AS, Dover Corp., Flowserve Corp., General Electric Co., Grundfos Holding AS, Ingersoll Rand Inc., Robert Bosch GmbH, Sulzer Ltd., and The Weir Group Plc among others.

What will the Pumps Market Size be During the Forecast Period?

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"The Government of China has introduced a new pollution tax to reduce emissions from industries in the country."

Pumps Market: Key Drivers, Trends, and Challenges

The rising focus on improving energy efficiency in industries is notably driving the pumps market growth, although factors such as high initial cost and limitations of pumps may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the pumps industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Pumps Market Driver

The rising focus on improving energy efficiency in industries is one of the key factors driving the pumps market share growth. The rising cost of energy and the environmental effects due to the emission of a high amount of carbon from fossil fuel-based energy sources have increased the focus of industries on adopting pumps. The pulp and paper and chemical industries and other similar industries are the major energy consumers, owing to the use of energy-intensive equipment such as pumps, blowers, and motors. Moreover, the new regulatory norms are now focusing on curbing the high energy costs and carbon emissions in industrial applications, thereby creating opportunities for pumps. For example, the US Department of Energy introduced Better Buildings, Better Plants Program, a national voluntary program aiming to improve energy efficiency in the industrial sector. Such instances will drive market growth during the forecast period.

Key Pumps Market Challenge

High initial costs and limitations of pumps may hinder the pump's market growth during the forecast period. Most industrial end-users depend on traditional heating solutions as they are unaware of the superior efficiency of pumps compared to traditional equipment and their contribution to the environment by using renewable energy sources. The chemical and paper, and pulp industries are energy-intensive and thus extensively use pumps as these are energy-efficient. In these industries, the nature of the processes also makes it easier and more beneficial to deploy pumps. However, the high initial cost of pumps has reduced their adoption by other end-user industries. Hence, these factors hinder the growth of the global pumps market during the forecast period.

This pumps market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Market Overview

The parent, the global industrial machinery market, covers companies engaged in manufacturing industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. The global industrial machinery market is expected to grow at a moderate pace. 

Who are the Major Pumps Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Alfa Laval AB
• Danfoss AS
• Dover Corp.
• Flowserve Corp.
• General Electric Co.
• Grundfos Holding AS
• Ingersoll Rand Inc.
• Robert Bosch GmbH
• Sulzer Ltd.
• The Weir Group Plc

This statistical study of the pumps market encompasses successful business strategies deployed by the key vendors. The pumps market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The pumps market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Pumps Market?

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50% of the market's growth will originate from APAC during the forecast period. China and Germany are the key markets for the pumps market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing number of end-user industries such as the paper and pulp and chemical manufacturing sectors in the region will facilitate the pumps market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Pumps Market?

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The pumps market share growth by the centrifugal pumps segment will be significant during the forecast period. Centrifugal pumps provide a much higher flow rate than other pumps. This is particularly advantageous in the wastewater treatment, oil and gas, mining, and power industries where a large amount of water is being handled. Though these pumps do not provide a very energy-efficient option for regulating the flow rate, technological developments such as 3D printing have helped vendors in making superior-quality impellers, thereby increasing the efficiency of centrifugal pumps. Such factors will drive the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the pumps market size and actionable market insights on post COVID-19 impact on each segment.

You may be interested in the regional reports:

China Pump market - The market share will grow at a CAGR of more than 7% by 2021.

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What are the Key Data Covered in this Pumps Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive pumps market growth during the next five years
• Precise estimation of the pumps market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the pumps industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of pumps market vendors

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