Water Pump Market–Global Industry Size, Share, Trends, Opportunities, and Forecast, 2028 Segmented By Type (Centrifugal Pumps, Positive Displacement Pumps), By Driving Force (Electric Driven, Engine Driven), By Application (Oil and Gas, Chemicals, Power Generation, Water/wastewater, and Others), By Region, and Competition

Water pump market is anticipated to grow at a steady pace during the forecast period. Growing investments in the construction sector in regions, such as the Middle East & Africa, and supportive government policies, such as the Ganga rejuvenation policy in India and the introduction of the 13th Five-year plan in China, which is focused on proper wastewater treatment, are further anticipated to fuel the demand for water pumps across the world during the forecast period.

To move water from one location to another, a water pump is a device that raises the water's pressure. Agricultural, municipal, industrial, and residential applications all require access to modern water pumps. In sewage treatment plants, wastewater is transferred using water pumps as well. However, other energy sources, such as petrol or diesel engines, are also used to power water pumps. Electricity is the energy source that powers them most frequently.

Rising Demand for Pipeline Replacement/Installation

The demand for pumps in the oil and gas sector is expected to increase as oil and gas companies are increasing their spending on exploration and production activities around the world. The market is anticipated to benefit from the increasing number of infrastructure improvements, such as pipeline replacement or installation. The demand is primarily ascribed to several end-use industries, including electricity, water and wastewater treatment, and oil and gas, and the market is predicted to experience slow expansion throughout the projection period.

As the oil and gas industries grow, there is a greater requirement for pumps, which is anticipated to hasten market growth for water pumps. The simplicity with which standard valves can be altered using automated actuators or control systems is another factor driving up demand for water pumps. Additionally, there has been a considerable increase in demand for water pumps in the food and beverage industry, particularly in developing nations. The body, seat, and stem are the three main parts of a pump body; they may or may not be constructed of the same material.

Rising Trends of Technological Advancements

The improvements in pump technology have improved fundamental process operations, increased pump dependability, and provided a long-term decrease in routine operating procedures. The majority of businesses using these cutting-edge pumps are those that deal with industrial wastewater, agriculture, power, and chemicals. To meet the changing demands of the market, manufacturers are also concentrating on the introduction of new products. Manufacturers may need to rebuild pumps to meet increased energy efficiency criteria, which could be expensive and time-consuming and limit market expansion.

Rising investments in the oil and gas industry are expected to support the water pump market in the years to come. The market is anticipated to benefit from technological advancements in pump manufacturing and new product introductions that focus on improved performance. Pump reliability has been enhanced, fundamental process operations have been improved, and routine operating procedures have been permanently reduced due to advances in pump technology.

Additionally, while using less energy, these advancements have increased the dependability and performance of pumps. The demand for these cutting-edge pumps will increase over the projected period due to their use in a variety of end-use industries, including agricultural, power, industrial wastewater, and chemicals.

In recent years, the end-use industry has increased its expenditure to upgrade the quality of industrial pumps and install cutting-edge process control. This is due to the rising consumer demands. As a result, pump makers in the area have increased their spending to enhance energy efficiency, which is projected to fuel the demand for more energy-efficient pumps over the forecast period.

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Growth in Agriculture and Rising Demand for Processed Food

Additionally, industrial pumps are typically made to order and come with pre-designed valves that have been tailored to the needs of the business. Furthermore, the use of pumps is increasing in food and beverage, power generating, water and wastewater treatment, chemicals, and other significant processing industries. Additionally, due to an increase in agriculture and a rise in the demand for processed foods, countries like India, Brazil, and others have seen significant expansion in the food and beverage processing business. This has led to a significant increase in the need for water pumps in the processing sectors, which is boosting the market for water pumps.  Also, it is projected that changes in the price of raw materials will impede the expansion of the water pump market. On the other hand, it is projected that technological advancements in water pumps would create profitable prospects for the market’s growth over the coming years.

High Initial Cost of Smart Pump Acts as Restraint

The high initial cost of the smart pump is expected to impose restrictions on the market's growth in the near future. Frameworks for intelligent pumps have been developed to employ wireless technology for better control over longer distances. But doing so might come with a very high initial cost, which many end users would require assistance to afford. Nevertheless, when they become aware of how intelligent pumps may aid in energy saving considering the current energy crisis, they may receive government support over the coming years. Smart pumps are also preferable solutions for pumping in the mining and metal industries since they require lab testing activities and have more appealing features. The market's downturn has, thus, limited further growth.

Recent Developments

• In February 2023, a Canadian manufacturer of highly developed industrial valves, Velan Inc., was acquired by Flowserve Corporation. Through this acquisition, Flowserve Corporation would be able to advance its decarbonization, digitization (3D) strategy, and diversification goals by incorporating Velan's strong position in the cryogenic, nuclear, defense, and industrial markets and a highly complementary product range.
• In January 2023, Xylem Inc. procured Evoqua, a pioneer in mission-critical water treatment technologies and services. With this acquisition, Xylem would be able to tackle affordability, water scarcity, and resilience on a much larger scale. Additionally, the combined offerings of the two organizations would offer an exceptional portfolio of integrated services, cutting-edge technology, and application expertise throughout the water cycle.
• In November 2022, Shandong Jinggong Pump Co., Ltd., a Chinese manufacturer of industrial vacuum pumps and systems, was acquired by Atlas Copco AB. By joining a seasoned machine and manufacturing company in China through this acquisition, Atlas Copco AB would be able to match this action with its local-for-local approach.
• In August 2022, AccessESP, a renowned supplier of cutting-edge technologies for artificial lift solutions, was acquired by Baker Hughes Company. By focusing on technologies with long-term viability that facilitate development possibilities and broaden its portfolio, Baker Hughes Company would be helped in changing its core business through this acquisition.
• Mechanical Equipment Company, Inc. (MECO), a pioneer in the design and production of water purification technologies, was acquired by Grundfos Holding A/S in August 2022. To advance as the top global provider of water treatment solutions, Grundfos Holding A/S would be able to strengthen the positions of MECO and Grundfos through this acquisition. Additionally, this would improve people's quality of life.
• Glaston Compressor Services Ltd, a distributor and service provider of compressed air situated in Skelmersdale, Lancashire, was acquired by Atlas Copco AB in July 2022. Atlas Copco AB would be able to expand its presence in the Northwest of England with this acquisition.
• Altus Intervention, a top international supplier of well intervention services and down-hole oil & gas technology, was acquired by Baker Hughes Company in March 2022. By enhancing technology capabilities and offering customers higher-efficiency solutions, Altus Intervention would support Baker Hughes Company's strategies to change gas and core oil activities.
• Anadolu Flygt, the market leader in Turkey for the provision, installation, and after-sale support of pump and water treatment systems, was acquired by Xylem, Inc. in October 2021. By making this acquisition, Xylem, Inc. would be able to expand its portfolio of smart water solutions into Turkey, demonstrating its potential to take the lead in innovative technological solutions for the water sector.

Market Segmentation

The global water pump market is segmented into type, positive displacement, driving force, application, and region. Based on type, the market is segmented into centrifugal pumps and positive displacement pumps. Based on driving force, the market is split into electric driven, engine driven. Based on application, the market is segmented into oil and gas, chemicals, power generation, water/wastewater, and others.

Market Players

Major market players in the global water pump market are Grundfos Holding A/S, Xylem Inc., Sulzer Ltd., KSB SE & Co. KGaA, Ebara Corporation, The Weir Group plc, Flowserve Corporation, Wilo SE, ITT Inc., and Kirloskar Brothers Limited.

Report Scope:
In this report, the Global Water Pump Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

·         Water Pump Market, By Type:

o    Centrifugal Pumps

o    Positive Displacement Pumps

·         Water Pump Market, By Driving Force:

o    Electric Driven

o    Engine Driven

·         Water Pump Market, By Application:

o    Oil and Gas

o    Chemicals

o    Power Generation

o    Water/wastewater

o    Others

·         Water Pump Market, By Region:

o    North America

§  United States

§  Canada

§  Mexico

o    Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Indonesia

o    Europe

§  Germany

§  United Kingdom

§  France

§  Russia

§  Spain

o    South America

§  Brazil

§  Argentina

o    Middle East

§  Saudi Arabia

§  South Africa

§  UAE

§  Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global water pump market.

Available Customizations:

Global Water Pump Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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