Industrial Pumps Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The global Industrial Pumps market reached a value of about USD 62.62 billion in 2021. The industry is projected to grow at a CAGR of around 4.5% in the forecast period of 2022-2027 to reach a value of about USD 81.54 billion by 2027.

The global Industrial Pumps industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is being driven by the extensive application of these goods in various industries, such as water and wastewater, chemical, oil and gas, and power generation. The Asia Pacific is the highest category spender by region, driving the demand for the Industrial Pumps industry.

Industry Definition and Segmentation

An industrial pump is a piece of heavy-duty machinery; it has a wide range of uses in various sectors and may be used to transfer a variety of items including chemicals, water, petroleum, oil, wastewater, sludge, and slurry, or food. The Industrial Pumps industry report comprises segments by type (Centrifugal Pumps and Positive Displacement Pumps), end-use industry (Water and Wastewater, Construction, Chemicals, Oil and Gas and Power) and region (North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America).

The Asia Pacific Region is Driving the Growth of the Industry

The Asia Pacific holds a significant share in the industry due to the region's declining groundwater levels; water reuse has grown in popularity, increasing the usage of pumps in the construction of water and wastewater infrastructure, resulting in increased demand for the product.

The industry is being driven by the need for these products in a wide range of industries. Oil and gas firms increased spending in exploration and production operations is expected to stimulate market demand. In addition, the water pumping systems are in high demand due to the growing need for water treatment facilities to fulfil the worlds growing water shortage demands across municipalities and industry, further boosting the market demand. The worldwide industrial pumps market is increasing due to the increased usage of industrial pumps in the petrochemicals, chemicals, medical, and pharmaceutical industries. The increasing residential and commercial infrastructure building has led to rapid urbanisation, contributing to the sector's development. Also, the increase in food demand from emerging countries supports the expansion of the food and beverage processing industry. This is also predicted to increase demand for industrial pumps, boosting the industrial pumps industry's growth.

Due to the following factors, the industry is augmenting; however, the price fluctuations in industrial pump components owing to high demand from end-user sectors are likely to hamper the industry's expansion.

Best Procurement Practices

The global Industrial Pumps industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Industrial Pumps regions, such as engagement models, contract terms, and buyer and supplier negotiation levers.

Category Management Studies

Pumps function by producing a vacuum where ambient air pressure forces the liquid. Pumps all function by creating low-pressure zones. The water in a centrifugal pump is accelerated to the outside of the impeller by centrifugal force, resulting in low pressure at the impeller's eye or centre. The upstroke of the plunger or piston in reciprocating pumps generates a vacuum. A vacuum is formed in gear pumps or lobe pumps as the teeth or lobes mesh and then come apart. The pressure difference creates suction. A liquid that is under higher pressure will travel to a lower-pressure location.

Developments in the Product, Further Driving the Procurement of Industrial Pumps

The industry is being propelled by the sector's increased focus on product development. Major refiners are working to improve their infrastructure to produce low sulphur fuels as their demand grows. With refineries slated to undergo renovations, demand for pumps is predicted to rise, propelling the industry forward. The focus on energy efficiency will drive up demand for efficient and long-lasting equipment. Furthermore, the increased focus on improving existing wastewater treatment plants fuels market expansion. With modern technology, such as remote monitoring facilities and speciality pumps, Pumps will help the market expand. Also, governments throughout the globe are rethinking their policies to encourage the use of industrial pumps equipped with cutting-edge technology in a variety of industries.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Industrial Pumps Industry Report

• Flowserve Corporation
• The Weir Group Plc.
• Xylem, Inc.
• Grundfos Holding A/S
• Pentair Plc.

Market Landscape

Because there are so many players in the sector, the industrial pump market is fragmented. Key players utilise several channels to sell their products, including company websites, e-commerce websites, merchants, distributors, and end-users. Product cost, performance, design, technology, reputation, and availability are all factors that manufacturers compete. New product releases, distribution network growth, R&D expenditure, and mergers and acquisitions are among the ways companies are using to extend their market reach and market share. Furthermore, to increase their product range and get an advantage over their competitors, the leading players employ creative methods and focus on mergers and acquisitions (M & M&A) with small and medium-sized firms (SMEs).

Key Initiatives by Companies

• With the tagline "Go West," GEA Group debuted its range of sanitary centrifugal pumps in the United States in March 2020. The GEA centrifugal pumps have a unique impeller design that enables easy cleaning and handling of a wide range of liquids. According to the firm, the dairy business offers the most immediate possibility for the GEA centrifugal pump.
• PBM Inc., a specialised valve manufacturer with a broad line of industrial valves and other flow control devices, was bought by IMI plc in August 2019.