The latest study collated and published by Nova one advisor analyzes the historical and present-day scenario of the global Industrial Pumps Industry to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, future scopes, cost analysis and key trends during the forecast timeframe 2022 to 2030.

According to Nova one advisor, the global Industrial Pumps Industry was valued at USD 61.70 billion in 2021 and it is expected to hit around USD 93.18 billion by 2030 with a CAGR of 4.60% during the forecast period 2022 to 2030

Request Free Sample of This Report@ https://www.novaoneadvisor.com/report/sample/7406

Key Takeaways:

• By Product, the U.S. Industrial Pumps market was valued at USD 7.30 Billion in 2021 and expected to witness growth at a CAGR of 3.9% from 2022 to 2030.


• By product, centrifugal pumps held the largest revenue share of over 67.0% in 2021 owing to their increased applications in water supply, sewage disposal, food and beverage manufacturing, chemical, and oil & gas industries


• The water and wastewater application segment is expected to expand at the fastest CAGR from 2022 to 2030 on account of the increased demand for water treatment to address the global water crisis


• The market in China is expected to expand at a CAGR of 6.1% over the forecast period owing to the rapid growth in the food and beverage industries, which is attributed to the increasing population in the country


• The Asia Pacific region is expected to expand at the fastest CAGR from 2022 to 2030 due to the region's increased investment in industrialization


• The construction application segment held the second-largest revenue share in 2021 as a result of the increased infrastructure investment to support the growing demand for these products on account of the growth in the population

The market is primarily driven by the increasing investments in the exploration and production activities by the oil & gas companies, coupled with the rising adoption in the oil & gas industry across the globe.

The oil & gas sector is one of the most predominant markets in the world. In oil-producing countries like the Middle East, the product demand is driven by ongoing drilling activity. In addition, the rising hydraulic fracturing in the oil & gas industry is driving the demand for process equipment in the U.S., thereby driving the industry over the forecast period.

The pandemic impacted the demand for this product negatively as the lockdown restrictions aimed at limiting the spread of the virus across the globe resulted in the closure of industrial pump manufacturing facilities. Furthermore, the travel restrictions caused severe supply chain disruption, making it difficult for manufacturers to obtain raw materials for production.

The growing demand for water supply on account of the increasing population is augmenting the demand for water and wastewater treatment facilities across the world. Furthermore, the increasing investments in wastewater treatment plants, coupled with the rising adoption of the pump in these plants, are expected to drive the market over the forecast period.

Technological advancements and new product launch amid the COVID-19 pandemic restrictions are expected to drive the industry. For instance, with the launch of the DDP096, a 92cc/rev medium-duty radial piston pump that offers digital operational capabilities in the industries, Danfoss unveiled a new series of digital displacement hydraulic pumps in January 2021.

Major oil & gas refiners are anticipated to upgrade their existing infrastructure to produce low-sulfur fuels on account of the IMO 2020 standard that is effective from January 1, 2020. The demand for this product is expected to witness significant growth owing to the ongoing and projected refinery upgrades across the globe.

Immediate Delivery Available | Buy this Premium Research Report@ https://www.novaoneadvisor.com/report/checkout/7406

Product Insights

Centrifugal pumps have led the market and accounted for a revenue share of over 67.0% in 2021. These products are widely utilized in several applications, including water supply, fire protection systems, sewage disposal, food and beverage industries, and chemical industries, due to their low maintenance.

The growth of the global centrifugal pumps market is being driven by the rapid construction of residential and commercial infrastructure and the expansion of the manufacturing sector. The growth is attributed to the increased infrastructure investment, which has resulted in fast urbanization. The wastewater treatment sector's demand for these products is expected to drive the industry over the coming years.

The positive displacement pumps are expected to expand at the fastest CAGR of 6.0% over the forecast period. Positive displacement pumps are expected to witness significant growth over the forecast period as reciprocating pumps gain popularity due to their higher efficiency than centrifugal pumps and their application in precision dosing and high-pressure output applications.

The increased investment in specialized reciprocating pumps is due to the current complex refining process, which involves high temperatures, high pressures, and the ability to handle volatile fluids. As a result, the market for positive displacement pumps is likely to grow over the forecast period, thereby driving this industry.

Application Insights

The water and wastewater treatment segment led the market and accounted for a revenue share of over 21.0% in 2021. The increasing demand for water treatment facilities to meet the world's growing water scarcity needs across municipalities and industries is driving the demand for water pumping systems across the globe.

These products are utilized in a variety of applications in the power generation industry, including boiler feed water, cooling water, circulation water, condensate water, flue gas desulfurization services, and auxiliary services. Moreover, steam generation, which is a critical aspect in power plants, requires several products that include boiler feed pumps, booster pumps, condensate pumps, and circulating pumps.

The demand for these products in the chemical industry is likely to expand at a CAGR of 6.1% over the forecast period. The chemical industry is one of the major contributors to industrial economic growth as a source of raw materials for a wide range of sectors. The application of these products in the chemical sector is expected to rise due to the increasing concerns over employee safety and the surrounding environment.

Industrial pumps are required in several applications in the construction industry, which include dewatering, removal of excess water to prevent waterlogging, cement production, dyeing processes, roofing tile production, and dust trapping. Peristaltic pumps are used for chemical dosing and transfer of cement slurry in construction.

Regional Insights

Asia Pacific led the market and accounted for a revenue share of over 41.0% in 2021. As the groundwater levels are reducing in the region, water reuse has become increasingly popular in recent years, which has expanded the use of pumps for the building of water and wastewater infrastructure, resulting in higher demand for the product.

The increase in energy demand and the government's continued investment in sustainable energy sources are expected to fuel growth in Europe. Furthermore, strict laws aiming at reducing water pollution are likely to play a vital role in driving the demand for water treatment in the municipal and industrial sectors, which will drive this industry throughout the forecast period.

Despite having abundant water resources, water distribution in Central and South America is inconsistent. Additionally, due to a lack of quality infrastructure in the region, more water is being drained from local basins to meet overall water needs. Furthermore, the robust presence of oil & gas reserves in Brazil, Argentina, Venezuela, and Columbia is expected to have a positive impact on the industry growth.

Oil-based industries in Saudi Arabia include the companies engaged in the production of oil, industrial gas, petrochemicals, and refineries of petroleum, ammonia, and caustic. Thus, the presence of vast oil & gas reserves, coupled with a robust infrastructure for processing oil, is anticipated to propel the growth of the petrochemical industry, thereby boosting the demand for these products.

Some of the prominent players in the Industrial Pumps Market include:  Grundfos Holding A/S; Xylem; Ingersoll-Rand; Flowserve Corporation; SPX Flow; KSB SE & Co. KGaA; Sulzer Ltd.; Pentair; Iwaki Co. Ltd.; ITT, INC.

Full Report is Ready | For Purchase Inquiry@ https://www.novaoneadvisor.com/report/checkout/7406

You can place an order or ask any questions, please feel free to sales@novaoneadvisor.com| +1 9197 992 333