USD 16.81 billion
Heavy-duty Pumps Market Size, Share, Growth Analysis, By Product Type(Stainless Steel, Cast Aluminium, Cast Iron, and Other), By Application(Processing Industry, Oil and Gas Industry, Other), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20E2071 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
64
|Figures:
75
Heavy-duty Pumps Market Insights
Global Heavy-Duty Pumps Market size was valued at USD 16.81 billion in 2022 and is poised to grow from USD 17.75 billion in 2023 to USD 27.45 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).
A number of important variables are driving the considerable growth trends in the market for heavy-duty pumps worldwide. First, the market is being driven ahead by the rising need for dependable and effective pumping solutions across several industries, including mining, water and wastewater treatment, and oil and gas. Transporting fluids, especially caustic and abrasive compounds, requires heavy-duty pumps, making them crucial to crucial industrial operations. Furthermore, as rising economies upgrade their water supply and wastewater treatment systems, the development of infrastructure projects, urbanization, and industrialisation are providing significant possibilities for heavy-duty pump producers.
The market, meanwhile, too has its share of difficulties. The growing attention being paid to environmental sustainability and energy efficiency is one of the main problems. Energy-efficient pumps with less environmental effect are becoming more and more in demand from consumers and regulatory organizations. It may be more expensive for producers to produce heavy-duty pumps since they must conform to greater energy efficiency criteria. Additionally, when more competitors enter the market, the level of competition rises, placing pressure on prices. To stay competitive and get a greater market share, manufacturers need to concentrate on innovation, product differentiation, and service offers.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Oil and Gas Industry
Fastest Growth
Oil and Gas Industry
Growth Rate
5.6% CAGR
Global Heavy-duty Pumps Market ($ Bn)
Country Share for North America Region (%)
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Heavy-duty Pumps Market Segmental Analysis
The global heavy-duty pumps market is segmented on the basis of product type, application, region. By product type, the market is segmented into stainless steel, cast aluminum, cast iron, etc. By application, the market is segmented into processing industry, oil and gas industry, and others. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Analysis By Product
For heavy-duty pumps, cast iron has always been the material of choice. This choice is a result of the material's strong properties, which include resilience, toughness, and adaptability to a variety of industrial processes. Cast iron pumps have a strong reputation for tackling difficult and demanding applications with remarkable performance, gaining them a lot of respect in a variety of sectors.
The ever-changing market dynamics and the formation of sector trends are key factors in determining the fastest-growing category. Pumps made of stainless steel have become a market that is expanding significantly. Due to stainless steel's inherent resistance to corrosion, which makes it extremely well-suited for applications in sectors like chemicals and pharmaceuticals, the demand for it has increased. In areas where chemical compatibility and strict hygiene requirements are vital, stainless steel's corrosion-resistant property is of the highest importance. As a result, stainless steel pumps are becoming more and more popular in the market for heavy-duty pumps.
Analysis By Application
The oil and gas industry has always held a commanding position in this sector. This industry heavily depends on a wide variety of heavy-duty pumps to make key processes like the extraction, refining, and transportation of oil and gas products possible. Heavy-duty pumps are in high demand due to the unforgiving and frequently severe circumstances that exist in the oil and gas industry. These conditions call for the use of reliable and durable pumping equipment.
At the same time, the processing industry has turned out to be one of the markets for heavy-duty pumps that is increasing the fastest. This category covers a wide range of uses, including those in the chemical, pharmaceutical, food and beverage, and wastewater treatment sectors. The need for heavy-duty pumps made to control various fluid-handling operations has greatly increased due to the ongoing expansion of industrial production and manufacturing activities. In addition, the processing sector has adopted innovative pumping technologies as a result of increasingly strict rules controlling environmental protection and product quality. As a result, this market has experienced significant expansion, indicating the changing heavy-duty pump market across international sectors.
Global Heavy-duty Pumps Market By Application
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Heavy-duty Pumps Market Regional Insights
North America has historically been a significant market leader for heavy-duty pumps, with the United States occupying center stage. Several reasons, including the region's significant oil and gas production, massive industrial manufacturing, and robust infrastructural development, support this supremacy. In this environment, the oil and gas industry has been a significant driver of the need for heavy-duty pumps since these pumps are crucial to operations like drilling, refining, and pipeline transportation. The constant dedication of North America to infrastructure modernisation has also acted as a further impetus, increasing the need for heavy-duty pumps in a variety of settings, from building projects to municipal utilities.
The market for heavy-duty pumps has simultaneously seen a dynamic and quick expansion in the Asia-Pacific region. The region's quick industrialization, urbanization, and ambitious infrastructural expansion, especially in countries like China and India, are to blame for this explosive rise. The demand for heavy-duty pumps in the Asia-Pacific region has been greatly spurred by the rise in energy prices as well as the expansion of sectors including manufacturing, wastewater treatment, and chemicals.The need for effective fluid coping with answers has additionally been highlighted through strict environmental regulations, which has multiplied the adoption of heavy-responsibility pumps across lots of industries in the region.
Global Heavy-duty Pumps Market By Geography
- Largest
- Fastest
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Heavy-duty Pumps Market Dynamics
Drivers
Industry Development
- One important driver is the increase of some groups, including wastewater treatment, production, chemicals, manufacturing, and oil and fuel. Heavy-responsibility pumps are used in those industries for lots of fluid dealing with techniques.
Infrastructure Growth
- Heavy-responsibility pumps are wanted for powerful fluid transfer in infrastructure initiatives including construction, sewage remedy, and water transport, which increases demand.
Energy Needs
- The oil and gas industry is pushed with the aid of the want for strength, in particular oil and herbal gas, and is essentially depending on heavy-responsibility pumps for exploration, extraction, and transportation.
Restraints
High Prematurely costs
- Heavy-duty pumps want an enormous in advance investment, which may also dispose of some consumers, specifically smaller corporations.
Environment-Related Rules
- Strict environmental rules may have an impact on pump selection, preferring more cost-effective, eco-friendly, and efficient choices.
Economic Conditions Worldwide
- Pump demand may be impacted by economic turbulence and uncertainty with regard to capital investments in infrastructure development and industrial growth.
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Heavy-duty Pumps Market Competitive Landscape
The presence of multiple well-established competitors competing to retain and increase their market share defines the competitive landscape of the worldwide market for heavy-duty pumps. Among the well-known businesses in this industry are Grundfos Group, KSB SE & Co. KGaA, Flowserve Corporation, Sulzer Ltd., and ITT Goulds Pumps Inc. These industrial juggernauts are well-known on a global scale and provide a wide selection of heavy-duty pump solutions for varied uses.
The intense competition in the market forces producers to concentrate on product differentiation and innovation. Companies make significant investments in R&D to build energy-efficient, dependable, and long-lasting heavy-duty pumps in order to acquire a competitive edge. In the drive to fulfill changing consumer needs, digital technology integration and the creation of smart pumps with remote monitoring capabilities have also taken center stage.
Another prominent trend has been market consolidation through mergers and acquisitions, which has allowed businesses to broaden their global reach and product lines. The competitive environment of the global heavy-duty pump market is anticipated to keep changing as industries place an increasing emphasis on efficiency, sustainability, and cost-effectiveness, with a growing emphasis on technological advancements and aftermarket services to meet the varied needs of customers worldwide.
Top Player’s Company Profiles
- Grundfos Group (Bjerringbro, Denmark)
- KSB SE & Co. KGaA (Frankenthal, Germany)
- Flowserve Corporation (Irving, Texas, USA)
- Sulzer Ltd. (Winterthur, Switzerland)
- ITT Goulds Pumps Inc. (Seneca Falls, New York, USA)
- Xylem Inc. (Rye Brook, New York, USA)
- Weir Group PLC (Glasgow, Scotland, UK)
- Ebara Corporation (Tokyo, Japan)
- Pentair Plc (London, UK)
- Regal Beloit Corporation (Beloit, Wisconsin, USA)
- Tsurumi Manufacturing Co., Ltd. (Osaka, Japan)
- Schlumberger Limited (Houston, Texas, USA)
- SPX Flow, Inc. (Charlotte, North Carolina, USA)
- Kawasaki Heavy Industries, Ltd. (Kobe, Japan)
- Wilo SE (Dortmund, Germany)
- CIRCOR International, Inc. (Burlington, Massachusetts, USA)
- Parker Hannifin Corporation (Cleveland, Ohio, USA)
- Kubota Corporation (Osaka, Japan)
- Sundyne (Arvada, Colorado, USA)
- Flowrox Oy (Lappeenranta, Finland)
Recent Developments
- In May 2023, Alfa Laval enters the era of intelligent pumping With its most recent innovation, . Alfa Laval has been introduced by Advanced condition monitoring software with incorporated analytics . By utilizing artificial intelligence, the cutting-edge Alfa Laval Analytics for online condition monitoring enables the hygiene sectors to improve the lifetime of vital assets, prevent unexpected downtime, and get closer to sustainability objectives.
- In March 2023, Flowserve Corporation introduced the purchase of SIHI Group B.V., a main producer of excessive-overall performance pumps for the oil and fuel, electricity, and water industries. This acquisition will fortify Flowserve's function inside the worldwide heavy-duty pumps marketplace.
- In February 2023, Grundfos introduced the launch of its new CR pump collection, which is designed for excessive-pressure applications inside the water and wastewater remedy, business, and municipal markets. The CR series functions a number of revolutionary technology that enhance efficiency and reliability.
- In January 2023, Wilo announced the release of its new Yonos PICO circulator pump, which is designed for small-space programs inside the residential and commercial markets. The Yonos PICO is compact and power-green, making it a great desire for water conservation.
Heavy-duty Pumps Key Market Trends
- Service Providers: Heavy-duty pumps' lifetime and dependability are ensured by the expanding aftermarket services sector, which provides solutions for maintenance, repair, and replacement.
- Prioritize dependability and durability: In order to decrease downtime and maintenance costs, industries are striving for heavy-duty pumps with longer lifespans.
- Industry Consolidation: The competitive environment is changing as a result of mergers and acquisitions among pump manufacturers, which are resulting in more extensive product portfolios and increased market presence.
Heavy-duty Pumps Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global heavy-duty pumps market analysis, the diversified demands of sectors including oil and gas, chemicals, and wastewater treatment are what are driving the fierce rivalry among key players in the worldwide market for heavy-duty pumps. Long-standing businesses like Grundfos, KSB, and Flowserve continue to dominate their respective markets by emphasizing innovation and sustainability while providing cutting-edge products that are both energy-efficient and technologically advanced. Future market growth is projected to be influenced by factors including the escalating need for smart pumps with digital monitoring capabilities, the focus on energy efficiency, and the growth of aftermarket services. The ability to expand a company's product line and reach internationally is made possible through market consolidation through mergers and acquisitions, which continues to be a popular approach. The global market for heavy-duty pumps is positioned for further development as companies throughout the world prioritize effectiveness, dependability, and environmental responsibility.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 16.81 billion |
| Market size value in 2031 | USD 27.45 billion |
| Growth Rate | 5.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Heavy-duty Pumps Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Heavy-duty Pumps Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Heavy-duty Pumps Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Heavy-duty Pumps Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Heavy-duty Pumps Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Heavy-duty Pumps Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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