Global Water Pump Market Size, Share & Industry Trends Analysis Report By Type (Centrifugal and Positive Displacement), By Driving Force (Electric Driven and Engine Driven), By Application, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Water Pump Market
Market Report Description
The Global Water Pump Market size is expected to reach $71.7 billion by 2028, rising at a market growth of 4.5% CAGR during the forecast period.
A water pump is a tool that raises water pressure so that it may be moved from one place to another. Modern water pumps are utilized globally to deliver water for agricultural, industrial, municipal, and residential uses. In sewage treatment facilities, wastewater is also transported using water pumps. Electricity is often used to power water pumps; other energy sources like gasoline or diesel engines are also used.
The need for pumps rises as the oil and gas sectors expand, which is expected to accelerate the expansion of the water pump market. In addition, the demand for water pumps is increasing due to the ease with which ordinary valves may be modified utilizing automated actuators or control systems. Additionally, the food and beverage sector, particularly in developing countries, has seen significant growth in demand for water pumps. The major components of a pump body are the body, seat, and stem, which may or may not be made of the same material.
Additionally, industrial pumps are often made to order and come with pre-designed valves tailored to the business's needs. Further, the use of pumps is increasing in the oil and gas, food and beverage, power generating, water and wastewater treatment, chemicals, and other significant processing sectors. Additionally, due to increased agriculture and demand for processed foods, nations like India, Brazil, and others have seen substantial expansion in the food and beverage processing business.
This has led to a significant increase in the need for water pumps in the processing sectors, boosting the market for water pumps. Additionally, it is projected that changes in the price of raw materials would impede the expansion of the water pump market. On the other hand, it is launched that technical advancements in water pumps would provide profitable prospects for expanding the water pump market.
COVID-19 Impact Analysis
The COVID-19 pandemic has halted the manufacture of several items for users of water pumps, primarily due to protracted lockdowns in important worldwide nations. This has considerably slowed the demand for water pumps during the epidemic. The U.S., Germany, the UK, Italy, and China, all significant manufacturing nations severely impacted by the coronavirus outbreak that halted demand for equipment and machinery, were formerly the primary sources of order for such items. To react to immediate emergencies and establish new methods of operating after COVID-19 infection instances start to decline, makers of equipment and machinery must concentrate on safeguarding their employees, operations, and supply networks.
Market Growth Factors
Centrifugal water pumps have a simple design and a low fuel need
Centrifugal pumps don't have a leakage problem and may pump away dangerous liquids without losing their performance. Furthermore, due to their straightforward construction, centrifugal pumps are far less likely to experience wear and tear than other pumps. These elements will probably increase the centrifugal pump segment's water pump market share. The increased emphasis on wastewater purification and saltwater desalination for household use is also one of the significant market trends for industrial water pumps. This is driving up demand in wastewater treatment facilities for centrifugal water pumps.
Demand for water pumps has increased in industrial settings.
Water pumps are also widely used in the oil and gas and refining sectors for various purposes, including pipelines, pumping stations, cooling loops, circulation for heat exchangers, cooling systems, water supply and drainage, hot water discharge, and cooling and refrigeration systems. The use of water pumps is spreading around the globe due to increasing investments in the exploration and extraction of conventional oil and gas. In addition, the oil and gas industry's upstream operations are anticipated to increase output levels, which will fuel the water pump market projection. This supports the growth of the regional market.
Market Restraining Factor
High cost associated with the product
The market expansion is anticipated to be constrained by the high initial cost of the smart pump. Intelligent pump frameworks have advanced to use wireless technology for greater control over greater distances. However, doing so may have a very high startup cost, which many end users would need help to afford. Nevertheless, they may get government assistance over the coming years as they realize how clever pumps may help with energy conservation in the face of the present energy crisis. Furthermore, since they need less manual labor and have more compelling features, smart pumps are superior pumping options for the mining and metal sectors. As a result, the market's expansion has been limited by its decline.
Based on the type, the water pump market is segmented into centrifugal and positive displacement pumps. In 2021, the centrifugal pumps segment dominated the water pump market by generating maximum revenue share. This is because centrifugal pumps, the most common type of pump used in industries including oil and gas, chemical, water and wastewater treatment, agricultural, and construction, are the most significant technology for handling water and thin liquids and slurries. A centrifugal pump offers numerous benefits over other materials, including durability and ease of maintenance.
Driving Force Outlook
Based on the driving force, the water pump market is divided into electric-driven and engine-driven segments. The engine-driven segment covered a considerable revenue share in the water pump market in 2021. The pump and engine designs are straightforward, contributing to their long lifespans and ease of maintenance. Additionally, they last a very long period since they are repairable. These water pump sets work well and provides top-notch goods. These pumps are also quite sturdy and lasting. It has a long lifespan and provides excellent overall performance if used appropriately.
Based on application, the water pump market is bifurcated into oil & gas, chemicals, power generation, water & wastewater, and others. In 2021, the oil & gas segment held the highest revenue share in the water pump market. Due to the tremendous need for water pumps from almost all its operations, the oil and gas sector consumes the most water pumps. In addition, the infrastructure of the oil and electricity industries has seen significant investment due to the rise in worldwide energy demand. Additionally, European nations have prioritized the production of electricity from renewable resources, including solar, geothermal, and hydraulic energy.
|Market size value in 2021||USD 53.2 Billion|
|Market size forecast in 2028||USD 71.7 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 4.5% from 2022 to 2028|
|Number of Pages||214|
|Number of Table||353|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Application, Driving Force, Type, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on geography, the water pump market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2021, Asia-Pacific region led the water pump market with maximum revenue share. Most of the emerging nations in Asia-Pacific, including Indonesia, Vietnam, and India, provide the profitable potential for the water pumps industry. Additionally, it is projected that growing countries like China and India will continue to build their infrastructure, which would support the expansion of the water pump market.
Free Valuable Insights: Global Water Pump Market size to reach USD 71.7 Billion by 2028
KBV Cardinal Matrix - Water Pump Market Competition Analysis
The major strategies followed by the market participants are Acquisition. Based on the Analysis presented in the Cardinal matrix; Atlas Copco AB and Sulzer Ltd. are the forerunners in the Water Pump Market. Companies such as Xylem, Inc., Ebara Corporation and Grundfos Holding A/S are some of the key innovators in Water Pump Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Atlas Copco AB, Baker Hughes Company, Flowserve Corporation, Grundfos Holding A/S, Sulzer Ltd., Ebara Corporation, Xylem, Inc., KSB SE & Co. KGaA, Kirloskar Brothers Limited (Kirloskar Group), and Husqvarna Group.
Recent Strategies Deployed in Water Pump Market
» Partnerships, Collaborations and Agreements:
- Mar-2022: Flowserve Corporation came into a partnership with Gradiant, a developer of cleantech water projects and solutions provider. Under this partnership, Flowserve Corporation would be able to integrate Flowserve’s product expertise and flow control solutions with Gradiant’s innovative tailored water treatment technology to deliver exceptional total water treatment solutions for its customers.
» Product Launches and Product Expansions:
- Oct-2022: Flowserve Corporation unveiled the new Flowserve FLEX Isobaric Energy Recovery Device. This Flowserve FLEX Isobaric Energy Recovery Device is the next-generation consolidated pressure exchanger for reverse osmosis plants. Additionally, this new product has the capability to recuperate more than 98% of hydraulic energy and deliver the highest unit capacity available.
- Oct-2022: Sulzer Ltd., unveiled the new MSN-RO high-pressure pump range. The MSN-RO high-pressure pump range integrates established elements from existing Sulzer designs with numerous improvements to optimize both operating and capital costs.
- Aug-2022: Baker Hughes Company unveiled its new Fast all-Electric Tiebacks Solution. These new Fast all-electric tieback solutions deliver structured building blocks for significant subsea assemblies to decrease cycle time. Additionally, when integrated with Baker Hughes’ all-electric control systems and electrification solutions, these new solutions can produce a decline in project capital expenditure (CapEx) costs by more than 15% corresponded to traditional electro-hydraulic multiplexed (EH-Mux) systems.
- Jan-2022: Kirloskar Brothers Limited unveiled Jaldaksh. Jaldaksh is the range of Mini pumps offered by the company. Jaldaksh is a compact, lightweight, highly efficient, and energy-saving design. The new product is available in two model ranges, i.e., Jaldaksh-Bronze with a capacity of 3000 to 750 LPH. and Jaldaksh-Silver with a capacity of 3300 to 760 LPH.
- Jan-2022: Sulzer Ltd., unveiled SES and SKS ranges. By launching these new ranges of products, Sulzer Ltd. is expanding its portfolio of clean water pumps. Additionally, these new EN733 standard pumps are a reliable, efficient, and cost-effective proposition for water treatment facilities, municipalities, and commercial and irrigation applications.
- Sep-2021: Kirloskar Brothers Limited launched the NEO Series 4-inch. The NEO Series 4-inch is crafted for domestic, rural, and community water supply markets, including buildings, farms, and construction sectors. The new product comes with an advanced water-cooled motor which guarantees 60% more life and energy-saving and 30% higher discharge.
- Aug-2021: Grundfos Holding A/S unveiled the new SCALA1. The SCALA1 is a complete pressure booster with high-efficiency hydraulics and a motor with low-noise operation. Additionally, SCALA1 is a self-priming pump created for optimal pressure boosting.
- May-2021: KSB SE & Co. KGaA launched The AmaDrainer 3. The AmaDrainer 3 is the new era of its time-tested submersible greywater pumps. This new product is present in four sizes and is the company’s answer to customer demands for a design that is easy to handle and more compact.
» Acquisitions and Mergers:
- Feb-2023: Flowserve Corporation took over Velan Inc, the Canadian manufacturer of highly engineered industrial valves. Through this acquisition, Flowserve Corporation would be able to integrate Velan's firm standing in the cryogenic, nuclear, defense, and industrial markets along with a highly complementary product portfolio to advance its own Decarbonization, Digitization (3D) strategy, and Diversification as well.
- Jan-2023: Xylem Inc. acquired Evoqua, a leader in mission-critical water treatment solutions and services. Through this acquisition, Xylem Inc. would be able to handle affordability, water scarcity, and resilience at a much greater scale. Moreover, both organizations combined would provide an outstanding portfolio of integrated services, advanced technologies, and application knowledge across the water cycle.
- Nov-2022: Atlas Copco AB took over Shandong Jinggong Pump Co., Ltd., a Chinese manufacturer of industrial vacuum pumps and systems. Through this acquisition, Atlas Copco AB would be able to align this step with its local-for-local strategy and would join an experienced machine and manufacturing company in China.
- Aug-2022: Baker Hughes Company took over AccessESP, a leading provider of advanced technologies for artificial lift solutions. Through this acquisition, Baker Hughes Company would be supported in modifying its prime business by concentrating on future-proof technologies that aid development options and improve its portfolio.
- Aug-2022: Baker Hughes Company acquired Quest Integrity, a global leader in the development and delivery of technology-enabled asset inspection and reliability management solutions. Through this acquisition, Baker Hughes Company would strengthen its extraordinary capabilities to fetch holistic industrial asset management services to its customers.
- Aug-2022: Grundfos Holding A/S took over Mechanical Equipment Company, Inc. (MECO), a world leader in the engineering and manufacturing of water purification solutions. Through this acquisition, Grundfos Holding A/S would be able to strengthen both MECO and Grundfos’ position to evolve the leading global providers of water treatment solutions. Furthermore, this would also enhance the quality of life for people.
- Jul-2022: Atlas Copco AB took over Glaston Compressor Services Ltd, a compressed air distributor and service provider based in Skelmersdale, Lancashire. Through this acquisition, Atlas Copco AB would be able to extend its existence in the Northwest of England.
- Mar-2022: Baker Hughes Company took over Altus Intervention, a leading international provider of well intervention services and down-hole oil & gas technology. Through this acquisition, Altus Intervention would support Baker Hughes Company's methods to alter gas and core oil functions by improving technological abilities and delivering customers with higher-efficiency solutions.
- Mar-2022: Baker Hughes Company took over Qi2 Elements, a designer and manufacturer of advanced robotic sensor systems. Through this acquisition, Qi2 Elements would greatly extend Baker Hughes's asset inspection offering.
- Oct-2021: Xylem, Inc. took over Anadolu Flygt, Turkey’s market leader in the supply, installation, and after-sales service for pump and water treatment systems. Through this acquisition, Xylem, Inc. would be able to extend its smart water portfolio into Turkey, highlighting its promise of becoming a leader in intelligent technology solutions for the water industry.
- Aug-2021: Atlas Copco AB acquired CPC Pumps International Inc., a company that specializes in the design, manufacturing, and servicing of custom-engineered, mission-critical centrifugal pumps. Through this acquisition, Atlas Copco AB would be able to combine the supportive assets to its portfolio and strengthen its market standing. Moreover, the following acquisition is a suitable fit as CPC Pumps's market presence and technology checks with Atlas Copco's existing Process and Gas business.
- Feb-2021: Sulzer Ltd., took over Nordic Water, a leading supplier of water treatment technology. Through this acquisition, Sulzer Ltd. along with Nordic Water would create a more powerful value proposition to its industrial and municipal water customers and would further extend important opportunities in expanding its sales sight worldwide.
- Dec-2020: Ebara Corporation took over Vansan A.S., a company that offers a wide range of pumps and motors for water and other fluids solutions. Through this acquisition, Ebara Corporation would be able to strengthen its presence and global supply chain in the Central Asia, European, African, and Middle East markets by widening its business of standard pumps.
- Apr-2018: KSB SE & Co. KGaA took over Dubric Industries Inc., a US pump service and sales company. Through this acquisition, KSB SE & Co. KGaA would be able to expand its service web in the highly industrial US Midwest.
» Geographical Expansions:
- Sep-2022: Grundfos Holding A/S expanded its geographical footprint in Serbia by establishing its advanced plant. This new building aids Grundfos Holding A/S to extend its production footprint and would allow it to help its customers.
- Jun-2022: Atlas Copco AB has extended its geographical footprint by opening a new manufacturing facility for vacuum pumps used in the global manufacture of semiconductors in Asan City in Chungcheongnam-do province, South Korea. This new vacuum pump factory in Korea would become a critical part of helping its customers.
- Mar-2022: Ebara Corporation expanded its geographical footprints in Canada by designating Ebara Pumps Canada Corporation (EPCC) which delivers standard pumps as well as support and service.
Scope of the Study
Market Segments Covered in the Report:
- Positive Displacement
By Driving Force
- Electric Driven
- Engine Driven
- Oil & Gas
- Water & Wastewater
- Power Generation
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Atlas Copco AB
- Baker Hughes Company
- Flowserve Corporation
- Grundfos Holding A/S
- Sulzer Ltd.
- Ebara Corporation
- Xylem, Inc.
- KSB SE & Co. KGaA
- Kirloskar Brothers Limited (Kirloskar Group)
- Husqvarna Group
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North America Water Pump Market Report 2022-2028
Europe Water Pump Market Report 2022-2028
Asia Pacific Water Pump Market Report 2022-2028
What would be the size of the Water Pump Market by 2028?
The global Water Pump Market size is expected to reach $71.7 billion by 2028.
What are the key driving factors and challenges in the Water Pump Market?
Centrifugal water pumps have a simple design and a low fuel need are driving the market in coming years, however, High cost associated with the product restraints the growth of the market.
What are the major top companies in the competitive landscape?
Atlas Copco AB, Baker Hughes Company, Flowserve Corporation, Grundfos Holding A/S, Sulzer Ltd., Ebara Corporation, Xylem, Inc., KSB SE & Co. KGaA, Kirloskar Brothers Limited (Kirloskar Group), and Husqvarna Group.
At what CAGR is the Water Pump Market estimate to grow in the forecast period?
The expected CAGR of the Water Pump Market is 4.5% from 2022 to 2028.
Which segment shows a high revenue share of the Water Pump Market in 2021?
The Electric Driven segment acquired maximum revenue share in the Global Water Pump Market by Driving Force in 2021 thereby, achieving a market value of $46 billion by 2028.
Which region dominated the Water Pump Market in 2021?
The Asia Pacific market dominated the Global Water Pump Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $28.3 billion by 2028.