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 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).

Dewatering or getting rid of excess water is a common use for industrial pumps. The movement of a variety of fluids from one location to another is made possible by industrial pumps, which are used in a variety of industries.

Different industries use industrial pumps in different ways; for example, in the water and wastewater area, these are utilized to eliminate overabundance of water while in treatment facilities, they are utilized to eliminate overabundance of oil collection. It is anticipated that the expansion of the market will be aided by the rising use of these products in a variety of sectors, such as the power generation, chemical, oil and gas, and water and wastewater treatment sectors. Due to the closure of manufacturing facilities,

Throughout the projection period, price fluctuations in industrial pump components as a result of strong demand from end-user industries are anticipated to have a negative impact on capital investments. Over the coming years, major companies are likely to put more effort into developing low-cost manufacturing processes and cutting-edge technology for pump productivity enhancement.