Pumps Market Size, Share, Demand by Regions, Leading Companies, Industry Insights and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the global pumps market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the pumps market?

Report Attributes Details
Market Size in 2022 US$ 72.65 Billion
Market Forecast in 2028 US$ 89.1 Billion
Growth rate (2023 to 2028) CAGR of 3.32%
Base Year of the Analysis 2022
Forecast Period 2023-2028

What are Pumps?

Pumps are mechanical devices that are designed to move fluids or gases from one location to another. They are widely used in various industries, such as chemicals, oil and gas, and water treatment. Pumps work by creating a pressure difference, which causes the fluid to flow through a pipe or a system. There are many different types of pumps, each with its own unique set of features and advantages. Some common types of pumps include centrifugal pumps, positive displacement pumps, and air-operated diaphragm pumps. Pumps play an essential role in many industrial processes and are critical to the smooth functioning of various systems.

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What are the growth prospects and trends in the pumps industry?

The rise of industrialization in various sectors, such as oil and gas, chemical, and water treatment, represents a key factor driving the market growth across the globe. In line with this, the increasing need for water and wastewater treatment is contributing to the growth of the market. This is primarily attributed to the rising population and urbanization. The market is also driven by the increase in infrastructure development, such as the construction of new buildings and facilities, as pumps are required for heating, ventilation, and air conditioning (HVAC) systems. Other factors, such as the increasing product utilization in the power generation industry and the escalating need for reliable power generation solutions, are creating a positive outlook for the market further across the globe.

Who are the key players operating in the industry?

The report covers the major market players including:

  • Baker Hughes Company
  • Ebara Corporation
  • Flowserve Corporation
  • Grundfos Holding A/S
  • ITT Inc.
  • KSB SE & Co
  • KGaA, Pentair plc
  • Schlumberger Limited
  • Sulzer Ltd.
  • The Weir Group PLChttps://dailymuzz.com/
  • Vaughan Co. Inc.
  • Xylem Inc, etc.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:

  • Centrifugal Pump
    • Axial Flow Pump
    • Radial Flow Pump
    • Mixed Flow Pump
  • Positive Displacement Pump
    • Reciprocating Pump
    • Rotary Pump
    • Others

Breakup by Application:

  • Agriculture
  • Construction and Building Services
  • Water and Wastewater
  • Power Generation
  • Oil and Gas
  • Chemical
  • Others

Breakup by Region:

  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
  • Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

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