Industrial Pumps Global Market Report 2023: Sector to Reach $80.55 Billion by 2027 at a 5.6% CAGR
Global Industrial Pumps Market
Dublin, June 08, 2023 (GLOBE NEWSWIRE) -- The "Industrial Pumps Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.The global industrial pumps market is expected to grow from $60.95 billion in 2022 to $64.71 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The industrial pumps market is expected to grow to $80.55 billion in 2027 at a CAGR of 5.6%.
An increase in construction activities is expected to propel the industrial pumps market growth going forward. Construction activities refer to the installation and assembling activities associated with land-disturbing activities to develop infrastructure and structures. Industrial pumps are used in construction to remove the excess water on the site accumulated due to high water tables or heavy rain, so an increase in construction activities will propel the market.
For instance, according to Marsh, a US-based professional services firm, the residential construction activity was the fastest growing sector globally at 7.1% in 2021, and further construction of infrastructure grew at a rate of 6.8% in 2021. Therefore, an increase in construction activities is driving the growth of the industrial pump market.Product innovation is a key trend gaining popularity in the industrial pumps market. Major companies operating in the industrial pump market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Vogelsang GmbH & Co. KG, a Germany-based highly engineered equipment producer, developer, and distributor launched highly efficient rotary lobe pumps.
These are uniquely designed for extreme conditions and constant high-pressure performance suitable for oil and gas industry applications. It is one of a kind pump in the market that has a heavy-duty gearbox that allows constant pressure output of 18 bar and temperature tolerance of up to 200 C.In August 2021, Atlas Copco, a Swedish-based industrial tools, pumps, and equipment manufacturer acquired CPC Pumps International Inc. for an undisclosed amount. This acquisition of combined resources expanded and strengthened the market position of Atlas Copco by adding the complementary assets of CPC to the portfolio. CPC Pumps International Inc. is a Canada-based leader in manufacturing, designing, and testing industrial heavy-duty process pumps.Asia-Pacific was the largest region in the industrial pumps market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The countries covered in the industrial pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.Reasons to Purchase
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Description:Where is the largest and fastest growing market for industrial pumps? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial pumps market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope Markets Covered:1) By Product: Centrifugal Pump; Positive Displacement Pump; Other Products2) By Position: Submersible; Non-Submersible3) By Driving Force: Engine Driven; Electrical Driven4) By Application: Oil And Gas; Chemicals; Construction; Power Generation; Water And Wastewater; Other ApplicationsKey Attributes:
No. of Pages
2023 - 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered: 1. Executive Summary 2. Industrial Pumps Market Characteristics 3. Industrial Pumps Market Trends And Strategies 4. Industrial Pumps Market - Macro Economic Scenario 5. Industrial Pumps Market Size And Growth 6. Industrial Pumps Market Segmentation
7. Industrial Pumps Market Regional And Country Analysis7.1. Global Industrial Pumps Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion7.2. Global Industrial Pumps Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ BillionA selection of companies mentioned in this report includes
Grundfos Holding A/S
SPX Flow Inc.
KSB SE &Co. KGaA
EBARA International Corporation
The Weir Group PLC.
Iwaki Co. Ltd..
Baker Hughes Company
Alfa Laval AB
For more information about this report visit https://www.researchandmarkets.com/r/a854ez
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Global Industrial Pumps MarketResearchAndMarkets.com's Reasons to Purchase Description: Scope Markets Covered: Key Attributes: Report Attribute Details Key Topics Covered: 1. Executive Summary 2. Industrial Pumps Market Characteristics 3. Industrial Pumps Market Trends And Strategies 4. Industrial Pumps Market - Macro Economic Scenario 5. Industrial Pumps Market Size And Growth 6. Industrial Pumps Market Segmentation 7. Industrial Pumps Market Regional And Country Analysis A selection of companies mentioned in this report includes About ResearchAndMarkets.com Attachment