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Pumps Market by Product, End-user, and Geography - Forecast and Analysis 2022-2026

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR72007
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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?

Pumps Market Size

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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.

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?

Pumps Market Market segmentation by region

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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?

Pumps Market Segmentation

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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.

 

Pumps Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.73%

Market growth 2022-2026

$ 22.14 billion

Market structure

Fragmented

YoY growth (%)

5.20

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 50%

Key consumer countries

China, US, Russian Federation, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

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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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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Centrifugal pumps - Market size and forecast 2021-2026
    • Specialty pumps - Market size and forecast 2021-2026
    • Positive displacement pumps - Market size and forecast 2021-2026
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Oil and gas - Market size and forecast 2021-2026
    • Water and wastewater - Market size and forecast 2021-2026
    • Chemical - Market size and forecast 2021-2026
    • Building - Market size and forecast 2021-2026
    • Others - Market size and forecast 2021-2026
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2021-2026
      • Europe - Market size and forecast 2021-2026
      • North America - Market size and forecast 2021-2026
      • South America - Market size and forecast 2021-2026
      • MEA - Market size and forecast 2021-2026
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • 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

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your sample now!
      Pumps market growth will increase by $22.14 billion during 2021-2026.
      The pumps market is expected to grow at a CAGR of 5.73% during 2021-2026.
      Technavio has segmented the pumps market by product (Centrifugal pumps, Specialty pumps, and Positive displacement pumps) ,end user (Oil and gas, Water and wastewater, Chemical, Building, and Others) , and geographic (APAC, Europe, North America, South America, and MEA).
      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 are a few of the key vendors in the pumps market.
      APAC will register the highest growth rate of 49.82% among the other regions. Therefore, the pumps market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • US
      • Russian Federation
      • Japan
      • Germany
      The key factors driving the pumps market growth are:
      • Rising focus on improving energy efficiency in industries
      The pumps market vendors should focus on grabbing business opportunities from the centrifugal pumps segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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      • Detailed vendors report with competitive landscape
      • Covid-19 impact and recovery analysis
      • Data on revenue-generating market segments
      • Details on the market shares of various regions
      • Five-force market analysis

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