The global industrial pumps market size is expected to reach USD 95.09 Billion in 2030 and register a revenue CAGR of 4.9% during the forecast period. Rising demand for industrial pumps from the pharmaceutical industry for manufacturing large volumes of medicines at a rapid rate is driving market revenue growth. In addition, increasing prevalence of chronic diseases is resulting in increasing production of highly effective medicines by healthcare industry manufacturers. There is high demand for machines that can aid in manufacturing large volumes of medicines using easy and faster process. Manufacturers are adopting high-performance industrial pumps that aid in effectively cooling medicine manufacturing equipment that runs for long hours. Moreover, cooling pharmaceutical equipment significantly increases lifespan of machines and reduces expenses on equipment maintenance. Centrifugal pumps are the most commonly used industrial pumps in the pharmaceutical industry. These pumps are primarily preferred due to high efficiency and cost-effectiveness benefits offered. Moreover, these pumps have simple design and operation, and can be used for variety of applications.
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Top Players in the Global Industrial Pumps Market:
Flowserve Corporation, Grundfos Holding A/S, Titan Manufacturing Inc., ITT INC., Sulzer Ltd., Ebara Corporation, The Weir Group PLC, Schlumberger Limited, Baker Hughes Company, Celeros Flow Technology, Atlas Copco AB, and KSB SE & Co. KGaA.
However, industrial pumps often get corroded and affect performance of machines due to frequent contact with water and other fluid substances. This is one of the major factor hampering large-scale adoption of industrial pumps. Corrosion and erosion are phenomena that are primarily caused due to a fluid’s corrosive nature. For instance, in case of industrial pumps, when the fluid is pumped at high or low pressure the fluid’s velocity combined with its corrosive particulates, causes wear on internal components of industrial pumps such as the impeller, suction head, nozzle, and others. This significantly depreciates the performance and efficiency of components over time, thereby affecting the entire operation.
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Market segmentation based on Type Outlook:
- Centrifugal pumps
- Reciprocating pumps
- Rotary pumps
- Diaphragm pumps
Capacity Outlook:
- Small capacity pumps
- Medium capacity pumps
- High capacity pumps
End-Use Outlook:
- Construction
- Water and wastewater
- Chemicals
- Oil & Gas
- Power Generation
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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