Industrial Pumps Market – Opportunities & Forecast, 2020-2027


Posted September 23, 2020 by shaqibakram

The key factor driving the growth of the global industrial pumps market includes the increasing adoption of these pumps across numerous end-use industries such as chemicals and petrochemicals.

 
An industrial pump is defined as a heavy-duty process pump used to move different types of materials such as water, chemicals, petroleum, wastewater, oil, sludge, slurry, or food. The industrial pump can be categorized into two groups: Centrifugal Pumps and Positive Displacement Pumps. The Centrifugal pumps are cost-effective as compared to other types of pump and have a longer life span. These pumps use a rotating impeller to increase the pressure. The Positive Displacement Pumps offers constant flow at a fixed speed, irrespective of the counter pressure.

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The key factor driving the growth of the global industrial pumps market includes the increasing adoption of these pumps across numerous end-use industries such as chemicals and petrochemicals. The rising demand for wastewater and water treatment, along with the continuous expansion of the oil & gas industry driven by the increasing rate of population and industrial development will further boost the growth of the market in the coming years. The centrifugal pumps have a lower price, requires less maintenance, and are used in high-flow, low head application with high viscosity fluids. In addition to this, the increasing investment for building efficient water infrastructure facilities, especially in developing nations around the world, will have a positive impact on the market. On the other hand, the need for consistent monitoring of the pumps and higher power needs will have a negative impact on the growing demand of the global industrial pumps market.

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Various key players in this market include AR North America, Colfax Corporation, Global Pump, GRUNDFOS, Haight Pumps, IIT Inc., Iwaki America Inc., Franklin Electric, Roper Technologies, Inc., Sulzer Ltd. among others.

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The global Industrial Pumps market has been segmented on the basis of product, application and region. Based on product, the market is segmented into Centrifugal Pumps, Positive Displacement Pumps and Others. Based on Centrifugal Pumps, the market is segmented into Axial Flow Pump, Radial Flow Pump and Mixed Flow Pump. Based on Positive Displacement Pumps, the market is segmented into Reciprocating Pumps, Rotary Pumps and Others. Based on application, the market is segmented into Oil & Gas, Chemicals, Construction, Power, Water & Wastewater Treatment and Others.

Key questions answered in this research report:

At what pace is global Industrial Pumps market growing? What will be the growth trend in the future?
What are the key drivers and restraints in Industrial Pumps market? What will be the impact of drivers and restraints in the future?
What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Industrial Pumps market?
Which product generated maximum revenues in 2019 and identify the most promising products during the forecast period?
What are the various application areas of global Industrial Pumps market and how they are poised to grow?
What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

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Last Updated September 23, 2020