Pumping Industry Review

 

Pumping Industry Review

Pumping Industry is very Big segment and its very expanding sector in world. Pumps and motors is very essential products for the industry, farming , mining  for run his machinery and water related purpose.

USD 63.29 billion size was valued at in 2022 of the  global industrial pumps market and the  expected to be compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. The rising use  of pumps and motors in various industries, including Steel , water and chemical, wastewater, oil and gas, and power generation, is having a positive impact on market growth. Pandamic covid time affected the world manufacturing Industry.

Factors such as industrialization, high electricity demand, and investments in renewable power generation in countries are anticipated to augment the demand for industrial pumps in power generation. Increasing investments in Production and exploration activities by Gas & oil companies in the U.S. are anticipated to boost the demand in the Gas & Oil sagement Industry.

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Worldwide oil & gas production is likely to witness significant growth in non-OPEC and developing countries. Growing demand for power, Gas, oil and coal bed methane (CBM) on account of the maturity of conventional oil & gas resources is expected to be a major driver affect the growth.

 

The regulatory framework implemented in the Middle East and China for enhancing the production output of the domestic refining sector is expected to lead to an increased demand for industrial pumps used in refineries across these  geographies.

Price movement in industrial pump components due to strong demand from end-user industries are expected to have a negative impact on capital investments throughout the projection period. Major companies are likely to increase their efforts in developing low-cost manufacturing processes and modern technologies for the productivity improvement of pumps over the forecast years, thereby boosting growth.

Product Insights

Centrifugal pumps having a revenue share of over 67.3% in 2022 These pumps are widely utilized in several applications, including fire protection systems, water supply, sewage disposal, food and beverage industries, and chemical industries, due to their low cost factor.

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

In the forecast period  The positive displacement pumps are expected to expand at the fastest CAGR of 5.4%.  Positive displacement pumps are expected to witness significant increase over the coming 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 large investment in specialized reciprocating pumps is due to the current complex refining process, which involves high pressures, high temperatures, 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.

The main reason for increasing water pumping system is due to  water treatment plant generated by municipal corporation and  Industry worldwide for supply of treated water and  also these products are mainly  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.etc.

The revenue share of over 24.5%  is recorded in the water and wastewater treatment segment led market last year.


Global Market Insights of pumps Market

Sr.No.

Sagement

Year

Market Value

1.

Portable Pump

2020

66,685.07mn doller

2.

Electric Driven Pumps

2020

20. 6 Billion in doller

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