Industrial Pumps Market size is forecast to reach US$62.5 billion by 2027, after growing at a CAGR of 3.9% during 2022-2027. Industrial pumps are used in process industries for regulation, control, and direction of gases, liquids, vapors, slurries, and others. They are mainly manufactured using cast iron, stainless steel, carbon steel, and other high functioning metal alloys to obtain efficient flow control in industries such as water & wastewater, oil & power, food & beverages, chemicals, and others. Increasing demand for lift and sewage pumps in the industrial sector and wastewater sector is is expected to initiate the segment growth. The most common type of industrial pump includes dynamic Pumps like centrifugal and positive displacement pumps like diaphragm. Reciprocating pumps are used where a precise amount of fluid is required to be delivered and generally operate at higher efficiencies than other pumps, generally reaching levels of 90% or more efficiency. The increasing demand and investment in the water and wastewater sector is escalating the growth of the industrial pumps market, for instance, in 2020 U.S. Department of Agriculture (USDA) Deputy Under Secretary for Rural Development Bette Brand invested US$281 million in 106 projects to improve water and wastewater infrastructure (PDF, 252 KB) in rural communities in 36 states and Puerto Rico.
The strict lockdown in all the regions and restrictions have severely impacted the industries, including industrial pump market. Manufacturing activities were impeded resulting in disruption in the supply chain and unavailability of labor. To control the spread of this disease and avoid the related consequences, governments across the globe have announced lockdowns, majorly impacting many manufacturing and service industries, including water and wastewater treatment. However, the industries are recovering and certainly started seeing potential growth in the market.
Industrial Pumps Market Segment Analysis – By Operation Type
Electric segment holds the largest share in the industrial pumps market in 2021 and forecast to grow at 5.2% CAGR during 2022-2027. A pump is widely used mechanical equipment that can be driven by many types of power sources, such as manual operation, electricity, engines, and even sustainable energy sources such as wind power. These energy sources can be a variety of equipment, varying in size, from a micro microscope for medical use to large industrial pumps in waterworks, or from the transmission of machine tool coolant to industrial pumps of ordinary size. Pumps have a wide range of applications in industry, such as pumping water from wells, aquarium filtration work, and pond filtration tasks. In the automotive industry, pumps can be used for water cooling and fuel injection. In the energy industry, pumps can be used to transport oil and gas and to operate cooling towers.
Industrial Pumps Market Segment Analysis – By End-Use Industry
The water and wastewater segment accounted for approximately 14% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Industrial pumps spin at high speeds to force wastewater out of the pump and into the discharge pipes or areas within the facility. The centrifugal pump is the ideal pump for the vital part of the water treatment process which is excess material in the wastewater treatment system. It provides the gentle action required to maintain the biological floc that is the essential ingredient in the activated sludge treatment process. In 2020, New Zealand Council has allocated US$40 million in Government funding to upgrade parts of the city’s drinking and wastewater infrastructure. So the growing investments and developments in the wastewater treatment sector are driving the market growth during the forecast period. The rise in the numeral of water treatment plants and rising onsite reuse of water by various industries in driving the market for industrial pumps during the forecast period 2022-2027.
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Industrial Pumps Market Segment Analysis – By Geography
Asia-Pacific segment holds the largest share in the industrial pumps market in 2021 up to 41% and is forecast to grow at 4.9% CAGR during 2022-2027. The increasing population, mainly the urban population, indicates a prior factor for industrial and agriculture expansion, which, in turn, creates pressure on water sources. According to the World Bank, in 2009-2020, global spending on water and sewerage projects exceeded US$26 billion, with 84% of investments in wastewater treatment being in greenfield projects, which means a predominance of new facilities in this segment of infrastructure. A significant proportion of these projects are being implemented in China and other East Asian countries, where governments have recently turned towards environmental protection. Thus, the growth of waste treatment in the region certainly anticipates the growth of industrial pump market.
Industrial Pumps Market Drivers
Increasing Investment for water and wastewater management in developed countries
Wastewater reuse is a key solution to overcome water insufficiency and meet the growing water requirements. Industrial pumps like centrifugal pumps are used broadly in wastewater treatment plants to process used water. These pumps retain rotating impellers to increase impeller velocity and push fluids through outlet valves. Thus, the growing investment in global wastewater treatment plants is expected to increase the demand for industrial pumps. For instance, The European Investment Bank (EIB) invested US$21 million to improve wastewater management and provide affordable access to water and wastewater services for more than 90 000 people in the municipality of Gjilan/Gnjilane in Kosovo. Also, plans to close to US$1.57 billion for over 1 600 projects, the EIB is making water security and climate change adaptation a priority. On the other hand, according to the Government of Canada, the government has invested US$2.07 billion to support water and wastewater-related infrastructure projects. Thus, the constant development and investment of wastewater treatment are driving the market growth of industrial pumps during the forecast period.
Increasing Demand for Centrifugal Pumps to Drive the Market
Centrifugal pumps are perhaps the most common type of pumps used in a range of applications. With a variety of configurations available, centrifugal pumps are widely used because of their design simplicity, high efficiency, a wide range of capacity and head, smooth flow rate, and ease of operation and maintenance. The increasing demand for centrifugal pumps in wastewater treatment, construction, refineries, and other sector owing to its ability to provide efficient solutions to difficult situations in one heavy-duty long-lasting pump. Thus, the manufacturers are developing the product as per the demand, for instance, in 2022 Sulzer has extended its portfolio of clean water centrifugal pumps with the launch of the SES and SKS ranges, which are EN733 standard pumps designed for municipalities, water treatment facilities, and commercial and irrigation applications. Besides, the increase in the refining capacity globally has also increased the demand for centrifugal pumps in refineries, and this is expected to continue, thus boosting the overall industrial pump market over the forecast period.
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Industrial Pumps Market Challenges
Cavitation effect in centrifugal pumps
Cavitation in a centrifugal pump has a significant effect on pump performance. It degrades the performance of the pump, resulting in fluctuation of flow rate and discharge pressure. Cavitation can also cause excessive pump vibration, which could damage pump bearings, wearing rings, and seals. Besides, a small number of centrifugal pumps are designed to operate under the condition where cavitation is unavoidable. Vapor bubbles that are formed within centrifugal pumps owing to inadequate liquid tend to move toward areas of high pressure within them to collapse under sufficient pressure and return to the liquid state. The implosion of these bubbles flakes off small portions of metal from impeller surfaces, resulting in low-frequency vibration and noise, along with extensive damage to centrifugal pumps. This impacts the performance of pumps, resulting in their reduced sales and high replacement costs. Thus, cavitation and dry-run related failures can hinder the growth of the industrial pumps market.
Industrial Pumps Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Industrial Pumps. Major players in the Industrial Pumps Market include:
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