Global Industrial Pumps Market was Worth US$ 63.39 Billion in 2022, Anticipated to Gain CAGR of 4.4% from 2023 - 2031

HOUSTON, TEXAS, UNITED STATES, August 8, 2023/EINPresswire.com/ -- Global Industrial Pumps Market Introduction
Industrial pumps are machines that move fluids from one place to another. They are used in a wide variety of industries, including water and wastewater treatment, chemical processing, and power generation. There are many different types of industrial pumps, each designed for a specific purpose.
The industrial pumps market was thriving until the COVID-19 pandemic struck, resulting in a demand downturn due to manufacturing shutdowns and restricted logistics. However, the market is predicted to rebound as industries recover. The rising need for industrial pumps in sectors like water treatment, chemical processing, and power generation is expected to propel market growth. Furthermore, the introduction of advanced and safer industrial pumps is anticipated to further drive market demand. Despite the pandemic's setback, the industrial pumps market is poised for growth in the coming years with a focus on sustainability and efficiency.

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Global Industrial Pumps Market Growth Boosting Factors:
• Industrial Infrastructure Development: The growth in industrial infrastructure development, especially in emerging economies, drives the demand for industrial pumps market. According to a report by the World Bank, global industrial output increased by 4.5% in 2021. As new manufacturing facilities, refineries, and power plants are constructed, the need for efficient fluid handling solutions rises, propelling demand for industrial pumps.
• Rising Demand from Water and Wastewater Sector: The water and wastewater industry's expansion, driven by urbanization and increasing environmental regulations, fuels demand for industrial pumps market. According to the United Nations, 58% of the world's population lived in urban areas in 2021, necessitating robust water infrastructure. Industrial pumps play a vital role in water treatment, distribution, and wastewater management.
• Advancements in Pump Technology: Ongoing technological advancements in pump design and engineering spur market growth. Manufacturers are investing in research and development to enhance pump efficiency, energy conservation, and safety. For instance, the adoption of smart pump technologies, variable frequency drives, and IoT-enabled monitoring systems is rising, as industries seek innovative and sustainable solutions.

Global Industrial Pumps Market Recent Developments:
• The development of new industrial pumps with improved efficiency and safety profiles are designed to use less energy and to be more resistant to wear and tear. They also have features that make them safer to operate, such as automatic shut-off valves. Moreover, the expansion of the water and wastewater treatment market due to the increasing demand for clean water and the need to treat wastewater makes the use of industrial pumps for a variety of applications, such as pumping raw water, treating wastewater, and distributing treated water. Similarly, the growth of the chemical processing industry due to the increasing demand for chemicals in a variety of industries, such as manufacturing, agriculture, and healthcare triggers increased adoption of industrial pumps in a variety of chemical processing applications, such as pumping raw chemicals, mixing chemicals, and transporting chemicals. They are also used in a variety of power generation applications, such as pumping water to cooling towers, circulating water in boilers, and transporting fuel.
• The Middle East and Africa region is expected to witness highest growth rate in the global industrial pumps market. Based on data gathered and validated by Absolute Markets Insights, the region's market for industrial pumps has been experiencing substantial growth in recent years. The surge in oil and gas exploration, water management projects, and investments in mining and power generation have driven the demand for industrial pumps. The region's emerging economies and focus on industrial development are key factors contributing to its rapid growth in the industrial pumps market.

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Global Industrial Pumps Market: Competitive Landscape and Key Developments
o Baker Hughes Company
o Clyde Union Inc.
o Danfoss AS
o Dover Corporation
o Ebara Corp.
o Flowserve Corporation
o General Electric Company
o Grundfos Holding AS
o ITT Inc.
o KSB AG
o Ruhrpumpen Group (A Corporacion EG Company)
o Schlumberger Ltd
o SPP Pumps Inc.
o SPX Flow Inc.
o Sulzer Ltd
o Weir Group PLC
o Wilo Mather & Platt Pumps Pvt. Ltd
o Xylem Inc.
o Other Industry Participants

In March 2023, Danfoss introduced Bio100 pumps. These pumps are designed to cater specifically to the growing demand for sustainable and environmentally friendly solutions in the heating industry. With the Bio100 pumps, Danfoss aims to provide customers with reliable and efficient options for biofuel applications, further contributing to the promotion of renewable energy sources and reducing carbon emissions in the heating sector.
In July 2022, Baker Hughes completed the acquisition of AccessESP, with an aim to enhance core oil and gas operations by enabling cost reduction and minimizing downtime for operators. Through this strategic move, Baker Hughes seeks to strengthen its position in the industry and offer improved and efficient solutions to its customers.

Global Industrial Pumps Market:
By Type
o Centrifugal Pump
o Reciprocating Pump
o Rotary Pump
o Other Pump Types
By End-user Industry
o Oil and Gas
o Water and Wastewater
o Chemicals and Petrochemicals
o Mining
o Power Generation
o Other End-user Industries

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By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)s
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

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