In this blog post, we delve into the world of Pumps Industry Statistics to explore the latest trends, market dynamics, and key insights shaping this crucial sector. Join us as we uncover data-driven perspectives that offer valuable insights for professionals and enthusiasts alike.
The Latest Pumps Industry Statistics Explained
The global pumps market size was valued at USD 71.1 billion in 2019.
The statistic indicating that the global pumps market size was valued at USD 71.1 billion in 2019 represents the total monetary value of all pump equipment sold worldwide during that year. This figure provides insight into the scale and significance of the pumps industry on a global level, highlighting the substantial economic activity and demand for pump products across various sectors such as industrial, commercial, and residential applications. Analyzing trends and changes in this market size over time can offer valuable information to businesses, policymakers, and investors regarding the growth and potential opportunities within the pumps industry.
The pumps market is predicted to reach USD 102.6 billion by 2027.
This statistic indicates a forecasted value for the pumps market in terms of USD, estimating it to be valued at $102.6 billion by the year 2027. This prediction suggests significant growth potential in the pumps market over the specified time period, likely driven by factors such as increasing industrialization, urbanization, infrastructure development, and technological advancements. The forecast also implies a positive outlook for the pumps industry, highlighting opportunities for businesses operating within this sector to capitalize on the anticipated market expansion and meet the growing demand for pumping systems and solutions.
The pumps industry’s expected Compound Annual Growth Rate (CAGR) from 2020 to 2027 is 4.4%.
The statistic indicates that the pumps industry is projected to experience an average annual growth rate of 4.4% from 2020 to 2027, as measured by the Compound Annual Growth Rate (CAGR). This means that, on average, the industry’s revenue or market size is expected to increase by 4.4% each year during this period. The CAGR provides a smooth representation of the industry’s growth over time, accounting for compounding effects. A 4.4% CAGR suggests steady growth in the pumps industry during the specified period, which could be influenced by factors such as increasing demand for pumps in various sectors, technological advancements, and market trends.
In 2019, centrifugal pumps held the dominant market share of over 70%.
The statistic ‘In 2019, centrifugal pumps held the dominant market share of over 70%’ indicates that out of all the pump types available in the market, centrifugal pumps were the most popular and widely used, accounting for more than 70% of the market share. This suggests that centrifugal pumps were the preferred choice for various applications such as water distribution, wastewater treatment, industrial processes, and many others. The high market share demonstrates the effectiveness, efficiency, and reliability of centrifugal pumps as well as the trust placed in this type of pump by industries and consumers in 2019.
The water and wastewater segment dominated the pumps market in 2019, occupying over 23% share.
In 2019, the water and wastewater segment held a significant position in the pumps market, accounting for more than 23% of the overall market share. This dominance indicates that the demand for pumps within the water and wastewater industry was substantial, possibly driven by factors such as infrastructure development, population growth, and increasing focus on water conservation and environmental sustainability. The high market share suggests that pumps used in water treatment plants, municipal water systems, wastewater treatment facilities, and other related applications were in high demand, highlighting the importance of this segment within the broader pumps market landscape.
Asia Pacific held the largest share in the pumps market in 2019.
The statistic “Asia Pacific held the largest share in the pumps market in 2019” indicates that the Asia Pacific region accounted for the highest proportion of market sales or revenue in the global pumps industry during 2019. This suggests that countries within the Asia Pacific region had a significant presence in the market and likely drove a large portion of the overall industry’s performance that year. Factors such as industrial growth, infrastructure development, and increased demand for pumping equipment in sectors like oil and gas, water treatment, and manufacturing likely contributed to the region’s leading position in the market.
The global submersible pumps market size was valued at USD 11.5 billion in 2020.
The statistic “The global submersible pumps market size was valued at USD 11.5 billion in 2020” indicates the total monetary value of submersible pumps sold worldwide during the year 2020. This figure represents the revenue generated by the sales of submersible pumps for various applications such as water and wastewater management, oil and gas extraction, agriculture, and others. The size of the global market for submersible pumps can be used as a key indicator of the demand and growth in the industry, reflecting factors such as economic conditions, infrastructure development, and technological advancements driving the market.
The submersible pumps market is expected to grow at a CAGR of 8.2% from 2021 to 2028.
This statistic indicates that the submersible pumps market is projected to experience a Compound Annual Growth Rate (CAGR) of 8.2% between the years 2021 and 2028. This suggests a steady and consistent growth rate over the forecasted period. A CAGR of 8.2% indicates that the market is expected to expand significantly, potentially driven by factors such as increasing demand for submersible pumps across various industries, technological advancements in pump designs, and growing infrastructure development activities globally. This statistic provides valuable insights for investors, businesses, and stakeholders looking to understand and potentially capitalize on the growth opportunities within the submersible pumps market.
The global Progressing Cavity Pump (PCP) systems market size was valued at USD 3.50 billion in 2020.
The statistic indicating that the global Progressing Cavity Pump (PCP) systems market was valued at USD 3.50 billion in 2020 represents the total estimated monetary worth of sales of PCP systems worldwide during that year. This figure reflects the market size and economic significance of PCP systems, which are utilized in various industries such as oil and gas, wastewater treatment, and food processing. The value of the market provides insight into the level of demand for PCP systems, as well as the overall economic activity and investment in this particular sector. Understanding the market size allows for analysis of trends, forecasts, and strategic decision-making within the PCP industry.
The PCP systems market is predicted to reach USD 5.57 billion by 2028.
The statistic indicates a prediction that the PCP (Progressing Cavity Pump) systems market is forecasted to grow and reach a value of USD 5.57 billion by the year 2028. This suggests that there is an expected increase in demand and adoption of PCP systems, likely driven by factors such as technological advancements, increasing applications in industries like oil & gas, water treatment, and food & beverage, and growing awareness of the benefits of PCP systems. The forecasted market value serves as a benchmark for the expected size and potential growth of the PCP systems market over the next few years, presenting opportunities for businesses and stakeholders in this industry to capitalize on this growth trend.
Water & wastewater treatment segment is expected to remain the dominant application of PCP systems until 2028.
The statistic “Water & wastewater treatment segment is expected to remain the dominant application of PCP systems until 2028” indicates that, based on current trends and forecasts, the usage of Progressive Cavity Pumps (PCP) in the water and wastewater treatment industry is projected to continue to be the most prominent application of these systems until at least 2028. This suggests that the demand for PCP systems in the water and wastewater treatment sector is expected to remain high compared to other industries that also utilize these pumps. Factors such as increasing population growth, urbanization, and environmental regulations driving the need for efficient and reliable systems for water and wastewater treatment could be contributing to this projected dominance of PCP systems in the industry.
North America was the leading regional market for PCP systems in 2020.
The statistic ‘North America was the leading regional market for PCP (Progressive Cavity Pump) systems in 2020’ indicates that North America had the highest sales or market share of PCP systems compared to other regions during the specified year. This suggests that the demand for PCP systems in North America surpassed that of other regions, potentially driven by factors such as industrial growth, oil and gas exploration, water management projects, or other applications where PCP systems are commonly used. The prominence of North America in this market indicates a strong presence of PCP system manufacturers, suppliers, and users in the region, highlighting the region’s importance in this specific industry sector.
Market leaders in the global pumps market include Flowserve Corp, Xylem Inc., and Grundfos, amongst others.
The statistic highlights the dominant players in the global pumps market, with Flowserve Corp, Xylem Inc., and Grundfos emerging as leading companies. These market leaders likely have significant market share, established brand reputation, advanced technology, and a wide range of pump products and services. Being at the forefront of the industry, these companies are expected to influence market trends, set benchmarks for innovation, and drive competition to maintain their positions. Their presence among the top players underscores their competitive advantage and strong performance in serving the diverse needs of customers worldwide, positioning them as key players in shaping the dynamics of the global pumps market.
The vacuum pumps market is projected to reach USD 4.26 billion by 2025.
This statistic indicates the expected growth and size of the vacuum pumps market by the year 2025, with a projected value of USD 4.26 billion. The figure represents the estimated total revenue generated by sales of vacuum pumps within various industries such as manufacturing, semiconductors, healthcare, and others. The projected value suggests a growing demand for these pumps, likely driven by increased industrialization, technological advancements, and a greater focus on efficiency and sustainability in various sectors. Companies operating in the vacuum pumps market may anticipate opportunities for expansion and innovation to capitalize on this projected growth.
Over the forecast period of 2019-2027, the Asia Pacific region is likely to register the highest CAGR at over 7% in the hydraulic pumps market.
This statistic indicates that from 2019 to 2027, the hydraulic pumps market in the Asia Pacific region is expected to experience the highest Compound Annual Growth Rate (CAGR) among all regions, reaching over 7%. This forecast suggests a significant growth trajectory for the hydraulic pumps market in Asia Pacific, driven by factors such as increasing industrialization, infrastructural development, and the adoption of advanced technologies in the region. This projection highlights the growing importance and demand for hydraulic pumps in various industries within Asia Pacific, positioning it as a key market for hydraulic pump manufacturers and suppliers to focus on in the coming years.
The hydraulic pumps market is expected to reach USD 14.9 billion by 2027.
The statistic ‘The hydraulic pumps market is expected to reach USD 14.9 billion by 2027’ indicates the projected valuation of the hydraulic pumps market within the context of future economic and industry trends up to the year 2027. This estimate suggests a significant growth trajectory for the market, with an anticipated increase in demand for hydraulic pumps, likely driven by factors such as industrial expansion, technological advancements, and infrastructure development. This statistic serves as a forecast for the potential size and value of the market in the coming years, providing valuable insights for industry stakeholders, investors, and policymakers to make informed decisions and strategies.
The positive displacement segment held the highest market share in the hydraulic pumps market in 2019.
The statistic indicates that in 2019, the positive displacement segment of hydraulic pumps held the largest proportion of market share compared to other segments within the industry. Positive displacement pumps work by trapping a fixed amount of fluid in a specific space and then forcing it into a discharge pipe or system. This information suggests that customers within the hydraulic pumps market preferred positive displacement pumps over other types such as centrifugal pumps. The dominance of the positive displacement segment implies that manufacturers and suppliers operating within this space may have benefitted from a larger customer base and increased sales volume during the specified period.
The global smart pumps market is expected to reach USD 3.92 billion in 2024.
The statistic indicates a forecasted valuation for the global smart pumps market in the year 2024, estimated at USD 3.92 billion. This figure represents the anticipated total revenue generated from the sales and adoption of smart pumps worldwide for the specified year. Smart pumps, equipped with advanced technological features such as connectivity, automation, and real-time monitoring capabilities, are increasingly being integrated into various industries including healthcare, industrial, and water treatment sectors for enhanced efficiency, accuracy, and safety in fluid handling processes. The projected market size highlights a growing demand for smart pump solutions and reflects the expanding market opportunity and potential investment in this innovative technology sector.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.millioninsights.com
2. – https://www.www.mordorintelligence.com
3. – https://www.www.fortunebusinessinsights.com
