Industry Background:
A pump is a mechanical device that is used to force a fluid (liquid or gas) or sometimes slurries to move forward inside a pipeline. It is typically converted from electrical energy into hydraulic energy. Pumps play a vital role from irrigation to sewage treatment. These devices are constantly evolving and enhancing, with new technologies and designs emerging all the time. They serve a wide range of applications such as pumping water from wells, aquarium filtering, pond filtering, and aeration, in the energy industry for pumping oil and natural gas or for operating cooling towers, in the car industry for water-cooling and fuel injection, and other components of heating, ventilation and air conditioning systems. Further in the medical industry, pumps are used for biochemical processes in manufacturing and developing medicine, and as artificial replacements for body parts. In addition, pumps are also used to produce pressure by the creation of a suction (partial vacuum), that causes the fluid to rise to a higher altitude.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Flowserve Corporation (United States), Grundfos Holding AS (Denmark), KSB SE & Co. KGaA (Germany), ITT Inc. (United States), Sulzer Ltd (Switzerland), Schlumberger Ltd. (United States), Ingersoll Rand (United States), Ebara Corporation (Japan), Weir Group PLC (United Kingdom), Baker Hughes Company (United States) and Dover Corporation (United States) |
This growth is primarily driven by Increasing demand in the oil and gas sector and Growing demand for water supplies.
Globally, a noticeable market trend is evident Growing demand for more energy efficient pumps
Major Manufacturers, such as Flowserve Corporation (United States), Grundfos Holding AS (Denmark), KSB SE & Co. KGaA (Germany), ITT Inc. (United States), Sulzer Ltd (Switzerland), Schlumberger Ltd. (United States), Ingersoll Rand (United States), Ebara Corporation (Japan), Weir Group PLC (United Kingdom), Baker Hughes Company (United States) and Dover Corporation (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Pumps market is a fragmented market due to the presence of various players. The players are focusing on launching new, innovative products for various applications using advanced technology. Rising investments in research and development manufacture more energy-efficient pumps will drive the market growth. The companies are also planning strategic activities like mergers, collaboration, partnerships, and acquisitions will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
In August 2022, Grundfos enters into agreement to acquire leading water technology company Mechanical Equipment Company, Inc. (MECO). This acquisition further aimed to strengthen company’s presence in global water treatment market
In October 2022, Flowserve Corporation advances its desalination offerings with launch of new Flowserve FLEX™ Isobaric Energy Recovery Device, it is the next-generation compact pressure exchanger for reverse osmosis plants. This launch further aided the company’s product portfolio.
Influencing Trend:
Growing demand for more energy efficient pumps and Rising advancements with non-metal components and additive manufacturing
Market Growth Drivers:
Increasing demand in the oil and gas sector and Growing demand for water supplies
Challenges:
Technological advancements in alternative options of conventional pumps
Restraints:
High repair and maintenance cost and Scarcity of qualified talent in the design and manufacturing areas
Opportunities:
Technological advancement such as rise in adoption of 3D printing technology in pumps
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Pumps Market Market
- Analysis about New Entrants in Pumps Market Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Pumps Market Study Sheds Light on
The Pumps Market Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Pumps Market industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Pumps Market industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.