Pump Market Size & Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Pump market.

Trusted Business Insights presents an updated and Latest Study on Pump Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Pump market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Pump Market Size & Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)

Industry Insights, Market Size, CAGR, High-Level Analysis: Pump Market

The global pump market size was valued at USD 91.2 billion in 2018 and is anticipated to progress at a CAGR of 5.5% over the forecast period. Increasing utilization of pumps in numerous applications including chemicals and water & wastewater treatment is anticipated to drive the market over the forecast period.
Rising technological advancements are anticipated to drive the demand for pumps in the coming years. Increasing product demand from various end-use sectors coupled with advanced production facilities is anticipated to boost the market growth over the forecast period. Rising investments for infrastructure development in multiples regions are also likely to have a significant impact on the product demand over the forecast period.

Water & wastewater treatment industry has gained significant momentum in the U.S. market over the past few years. Ascending demand for freshwater, mainly owing to increasing population, rising industrialization, technological development, and rapid urbanization, is expected to result in a high growth in the use of centrifugal pumps in this industry in the country.
In 2016, the U.S. Department of Energy (DOE) released energy conservation standards for pumps. The DOE determined that these new standards, which are technologically practicable and economically justified, would result in significant conservation of energy. Manufacturers of pumps are required to comply with the new standards by 2020. Given the aforementioned standards, highly efficient pumps are expected to be available in the coming years, which will be a major driving factor for the growth of the market.
The market is extremely competitive in nature and relies on technological development and product improvements. Companies are focusing on developing new applications of the product in order to gain a competitive advantage. The presence of local players in Asia Pacific poses a substantial threat to the large global companies based on price and product quality offered to the customers. This can be attributed to the availability of highly skilled workforce as well as raw materials at low cost in the region.

Product Insights of Pump Market

Based on product, the market has been segmented into centrifugal pumps, positive displacement pumps, and others. Centrifugal pump is further segmented into axial flow, radial flow, and mixed flow. This segment is anticipated to dominate the market over the forecast period.
Axial flow pump segment is expected to emerge as the largest and fastest-growing type of centrifugal pump, registering a CAGR of 5.5% from 2021 to 2026. Rising demand for axial flow pumps in water & wastewater application segment is likely to boost the growth of this segment over the forecast period.
The global market is witnessing a significant demand for centrifugal pumps owing to the boom in hydraulic fracturing in oil & gas industry in the developed countries including the U.S. and Canada. The requirement for upgrading aging infrastructure is further expected to propel the demand for centrifugal pumps on a global level.
Positive displacement product segment is projected to grow significantly over the forecast period. It is further segmented into reciprocating, rotary, and others. Rotary pump segment accounted for the largest share of 51.7% in positive displacement pump segment in 2018.

Application Insights of Pump Market

Based on application, pumps market has been segmented into oil & gas, chemicals, food & beverage, power, pharmaceutical, water & wastewater, and others. Water & wastewater expected to emerge as the dominant application segment over the forecast period owing to its wide-scale utilization in numerous end-use industries. The segment is expected to ascend at the fastest CAGR of 5.7% from 2021 to 2026.
Oil & gas segment is expected to move ahead at a CAGR of 5.6% in terms of revenue over the forecast period. The global demand for crude oil is witnessing an increase in order to facilitate production centers, overseas logistics, and domestic transport. This is expected to boost offshore and onshore exploration activities, in turn, contributing to the demand for pumps in oil & gas industry.

Globally, automotive, manufacturing, and construction sectors, which are major end users of chemical products, have witnessed tremendous expansion activities over the past decade and this trend is anticipated to continue over the forecast period. This, in turn, is projected to propel the demand for centrifugal, peristaltic, and diaphragm pumps as they can handle most flammable, viscous, aggressive, and abrasive fluids with ease.
Pumps are used in the manufacture of capsules, injectables, semi-solids, sprays, syrups, and tablets in pharmaceutical industry. These pumps require high levels of sterility and need to meet all the national & international hygiene standards established by government agencies. Increasing utilization of centrifugal pumps and diaphragm pumps in pharmaceutical industry is expected to boost the market growth.

Regional Insights of Pump Market

Asia Pacific is expected to emerge as a significant market for pumps on account of tremendous growth in end-use industries including water & wastewater treatment and oil & gas. Rising need for reusable water is one of the major concerns in the emerging economies, such as China and India, in the region. This is expected to have a positive impact on the market for pumps over the forecast period.
North America held a significant market share in 2018. The market for pumps in North America is anticipated to grow at a steady rate over the forecast period, driven by key application sectors including water & wastewater treatment, chemical, and oil & gas.
Europe market for pumps is anticipated to ascend at a CAGR of 4.5% over the forecast period. The presence of stringent environmental regulations and increased spending in water & wastewater sector are expected to propel the product demand in the region over the forecast period.
CSA and MEA are projected to move ahead at a CAGR of 4.7% and 5.6% respectively from 2021 to 2026. Increasing demand for potable water in residential and industrial sectors is contributing to rising installations of water & wastewater treatment plants in these regions. This, in turn, is projected to amplify the industry growth of rotary, diaphragm, and centrifugal pumps over the forecast period.

Market Share Insights of Pump Market

The global market for pumps is highly fragmented in nature with the presence of a large number of participants across the value chain. However, the major market share is jointly held by giants such as Flowserve Corporation, Grundfos Holding A/S, Sulzer Ltd, Ingersoll-Rand, and Xylem Inc.
All the major players have invested extensively in research and development activities, which has led to the introduction of several innovative products that can be utilized across the market. The focus of major players is on the economies of scope rather than economies of scale as pumps can be used for numerous applications across several end-use industries. Therefore, new product development and extensive marketing activities hold a significant importance in order to a gain competitive edge in the market.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Pump Market Research Report
This report forecasts market share and revenue growth at global, regional, and country levels and provides an analysis of industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global pump market report based on product, applications, and region:

Product Outlook (Revenue, USD Million, 2019 – 2030)

Centrifugal Pump

Axial Flow Pump

Radial Flow Pump

Mixed Flow Pump

Positive Displacement Pump





Applications Outlook (Revenue, USD Million, 2019 – 2030)

Oil & Gas


Food & Beverage



Water & Wastewater



Looking for more? Check out our repository for all available reports on Pump in related sectors.

Quick Read Table of Contents of this Report @ Pump Market Size & Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)


Trusted Business Insights
Shelly Arnold
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580