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The latest report by IMARC, titled “ Industrial Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022 -2027
” " the global industrial pumps market reached a value of US$ 60.3 Billion in 2021. Industrial pumps refer to mechanical equipment that are generally used for heavy-duty applications, including transferring slurry, chemicals, petroleum and sludge. They are commonly manufactured using cast iron or carbon steel that provides excellent heat resistance, strength and superior casting performance to the pumps. They are usually operated manually or with the help of energy sources, such as electricity, wind power and engines. They are widely utilized for water injection, hydrocarbon processing, pipeline systems and refineries across numerous sectors. The rising infrastructural development projects are providing a boost to the uptake of industrial pumps across the globe.
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The global market is primarily driven by significant growth across the oil and gas industry. This is supported by the increasing exploration activities on the global level. Additionally, the rising utilization of centrifugal pumps for biochemical processes is acting as a major growth-inducing factor. Furthermore, the growing number of petrochemical plants across numerous countries are impelling the market growth. In addition to this, the widespread adoption of industrial pumps in wastewater management and the increasing utilization of submersible pumps for pumping excess water in the construction sites are positively influencing the market growth. Moreover, various technological advancements are providing a boost to the market growth. In line with this, the integration of the Internet of Things (IoT) with the manufacturing process of industrial pumps for reducing human interference is creating a positive outlook for the market. Other factors, including rapid industrialization, continuous product innovations and extensive research and development (R&D) activities conducted by key players, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 83.4 Billion by 2027, growing at a CAGR of 6.1% during 2022-2027.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).
Market Summary:
Breakup by Product:
• Centrifugal Pump
• Axial Flow Pump
• Radial Flow Pump
• Mixed Flow Pump
• Positive Displacement Pump
• Reciprocating
• Rotary
• Others
• Others
Breakup by Distribution Channel:
• Online
• Offline
Breakup by Application:
• Oil and Gas
• Chemicals
• Construction
• Power Generation
• Water and Wastewater
• Others
Breakup by Region:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Note: We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report.
Competitive Landscape with Key Players:
Ebara Corporation
Flowserve Corporation
Grundfos Holding A/S
ITT Inc.
Iwaki Co. Ltd.
KSB SE & Co. KGaA
Schlumberger Limited
SPX Flow Inc.
Sulzer Ltd.
The Weir Group PLC
Vaughan Co. Inc.
• Xylem Inc.
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