What is the global market size of GCC Industrial Pumps Market?

GCC Industrial Pumps Market size was valued at USD 2.7 billion in 2021 and is poised to grow from USD 2.9 billion in 2022 to USD 4.2 billion by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).

GCC Industrial Pumps Market Size, Share, Growth Analysis, By Product(centrifugal, reciprocating, rotary, and Other), By Application(water and wastewater, oil and gas, chemicals and petrochemicals, power generation), By Region - Industry Forecast 2024-2031

Report ID: SQMIR15J2077 | Region: Regional | Published Date: February, 2024
Pages: 242 | Tables: 67 | Figures: 75

GCC Industrial Pumps Market Dynamics

GCC Industrial Pumps Market Drivers

In-Demand Oil & Gas Industry is Creating Lucrative Opportunities for Players in the GCC Industrial Pumps Market

The requirement that refineries produce low-sulfur crude oil end products in order to comply with government regulations is the primary market driver for the industrial pumps market. Heavy investments in new infrastructure projects, the expansion of the oil and gas industry, and the expanding industrial sector worldwide are additional drivers of growth.

GCC Industrial Pumps Market Restraints

Concerns related to Carbon Emission to Hinder Market Growth

The main factor limiting the market for industrial pumps is the carbon emissions produced by the pumps while they are in use. As a result, the nation's environmental organizations might pursue legal action against the sector. Another obstacle to the market is the necessity for frequent maintenance on the pumps to maintain their effectiveness.

GCC Industrial Pumps Market Report Snapshots

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GCC Industrial Pumps Market size was valued at USD 2.7 billion in 2019 and is poised to grow from USD 2.9 billion in 2023 to USD 4.2 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

The market is characterized by the presence of both international and local producers due to the ongoing development in demand for water treatment in the coming years. Companies use a variety of channels to sell their products, such as company websites, e-commerce websites, merchant websites, distributor websites, and websites for end users. 'Grundfos Holding A/S', 'Xylem', ' Sulzer Ltd. ', ' Flowserve Corporation ', ' KSB AG ', ' ITT Goulds Pumps ', ' Ebara Corporation ', ' Weir Group PLC ', ' SPX Flow Inc. ', ' Alfa Laval AB ', ' Baker Hughes Company ', ' Wilo SE ', ' Kirloskar Brothers Limited ', ' Gorman-Rupp Company ', ' Pentair PLC ', ' Tsurumi Manufacturing Co., Ltd. ', ' Calpeda S.p.A. ', ' Verder Group ', ' ClydeUnion Pumps (SPX FLOW) ', ' DESMI A/S '

The requirement that refineries produce low-sulfur crude oil end products in order to comply with government regulations is the primary market driver for the industrial pumps market. Heavy investments in new infrastructure projects, the expansion of the oil and gas industry, and the expanding industrial sector worldwide are additional drivers of growth.

Rising exploration activities in the oil and gas sector due to the escalating energy demand represent one of the main factors driving the market growth. The market is also expanding as a result of the increasing emphasis placed on upgrading existing wastewater treatment facilities. This can also be a result of a lack of potable water, growing environmental concerns, and a growing awareness of the negative effects of drinking contaminated water.

Smart Tek Log is a leading industrial pump manufacturer in Saudi Arabia. Over the next few years, the USD 23 billion Barakah Nuclear Power Plant in the United Arab Emirates and the USD 563 million Doha South Sewage Treatment infrastructure in Qatar are anticipated to drive demand for industrial pumps in Saudi Arabia.

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GCC Industrial Pumps Market Size, Share, Growth Analysis, By Product(centrifugal, reciprocating, rotary, and Other), By Application(water and wastewater, oil and gas, chemicals and petrochemicals, power generation), By Region - Industry Forecast 2024-2031

GCC Industrial Pumps Market Dynamics

GCC Industrial Pumps Market Report Snapshots

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