The Industrial Pumps Global Market Report 2023 by The Business Research Company, provides industrial pumps market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Industrial Pumps Global Market Report 2023, the global industrial pumps market size is expected to grow from $60.95 billion in 2022 to $64.71 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global industrial pumps is expected to grow to $80.55 billion in 2027 at a CAGR of 5.6%.
An increase in construction activities is expected to propel the industrial pumps market growth going forward. Construction activities refer to the installation and assembling activities associated with land-disturbing activities to develop infrastructure and structures. Industrial pumps are used in construction to remove the excess water on the site accumulated due to high water tables or heavy rain, so an increase in construction activities will propel the market.
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The industrial pumps market is segmented:
1) By Product: Centrifugal Pump, Positive Displacement Pump, Other Products
2) By Position: Submersible, Non-Submersible
3) By Driving Force: Engine Driven, Electrical Driven
4) By Application: Oil And Gas, Chemicals, Construction, Power Generation, Water And Wastewater, Other Applications
Product innovation is a key trend gaining popularity in the industrial pumps market. Major companies operating in the industrial pumps market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Vogelsang GmbH & Co. KG, a Germany-based highly engineered equipment producer, developer, and distributor launched highly efficient rotary lobe pumps. These are uniquely designed for extreme conditions and constant high-pressure performance suitable for oil and gas industry applications. It is one of a kind pump in the market that has a heavy-duty gearbox that allows constant pressure output of 18 bar and temperature tolerance of up to 200° C.
The industrial pumps market report table of contents includes:
1. Executive Summary
2. Industrial Pumps Market Characteristics
3. Industrial Pumps Market Trends And Strategies
4. Industrial Pumps Market – Macro Economic Scenario
5. Industrial Pumps Market Size And Growth
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26. Africa Industrial Pumps Market
27. Industrial Pumps Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Pumps Market
29. Industrial Pumps Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Grundfos Holding A/S
- Xylem Inc
- Flowserve Corporation
- SPX Flow Inc
- KSB SE &Co. KGaA
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