Industrial pumps find application in various industries and play an essential role in moving an assortment of fluids from one location to another. Industrial pumps come in a variety of shapes, sizes, and capacities. Industrial pumps are broadly segmented as centrifugal pumps (also called roto-dynamic pumps) and positive displacement pumps. Centrifugal pumps comprise axial, mixed-flow, and radial types.
Positive displacement pumps include piston, screw, sliding vane, and rotary lobe types. Conformance to performance standards and reliability of these pumps is very crucial. For instance, pump failure in a cooling system can result in overheating and substantial damage to equipment.
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The global industrial pump market has been witnessing new developments in micro disc pump technology. One of the key factors contributing to the growth of this market is the increase in infrastructural development. China, India, and other Asian and African countries are experiencing robust investments into infrastructure, which is expected to aid in increasing industrial output; in turn, driving growth for industrial pumps. Demand for industrial pumps from the process and manufacturing industries is expected to drive the growth of the industrial pumps market in developed regions such as Europe and North America.
Western Europe is expected to witness sluggish market growth, characterized by stagnant economic conditions and low industrial output. Eastern Europe is expected to exhibit relatively stronger growth owing to improving industrial output in the chemicals and water treatment industries. Middle East expenditure for industrial pumps is expected to rise as the pump sales in this region are expected to gain traction due to investments in desalination plants.
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Improving economic conditions in the Asia Pacific (APAC) region are expected to open up enormously potential opportunities for pump manufacturers, like the automotive, construction, and manufacturing industries are likely to witness substantial growth in the coming years. Along with the harsh impact of the recent recession, tough competition from low-cost manufacturers in developing nations is indeed a major restraint for the development of the industrial pumps market in this region. Customers are usually inclined towards low-cost products, which barely comply with environmental standards. This factor is impacting the industrial pumps market to a considerable extent.
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As it is difficult to compete with low-cost rivals based on price, leading industrial pump manufacturing companies will need to adopt different promotional strategies, based on the quality of their products, services, and maintenance to sustain in the global market.
Pumping systems are critically important for any process or manufacturing plant to operate efficiently. Industrial pumps are used for various industrial applications such as power and petrochemical plants, which directly support generation and production processes, and usually, work for extended durations. It is estimated that around 27% of all the energy consumed by any industry is constituted by motor-driven equipment. This offers manufacturers of industrial pumps a window of opportunity to improve efficiency and launch newer and more innovative products.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. The report provides analysis and information by categories such as market types, technology, and applications.
It report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
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Various end-use industries for industrial pumps include water, wastewater, oil & gas, chemicals, food & beverages, and others. Centrifugal pumps are the extensively used type because of their low cost, low maintenance, and long service life. Centrifugal pumps are used in high-flow, low head applications with low fluid viscosity. In contrast, positive displacement pumps are used in low-flow, high head applications with high viscosity fluids and accurately controlled flow applications.
The key players in the industrial pumps market are ITT Corp., Flowserve Corp., KSB AG, Sulzer Ltd., Grundfos A/S, Ebara Corp., Weir Group plc, Baker Hughes, Inc., Schlumberger Ltd., and Clyde Union, Inc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. In addition, the report also maps the qualitative impact of various market factors on market segments and geographies.