USD 58.57 billion
Water Pump Market Size, Share, Growth Analysis, By Type(Centrifugal (Axial Flow, Radial Flow, Mixed Flow, Others (Submersible), By Operation(Electric, Pneumatic, Hydraulic, Gas), By Power (HP)(0 - 1.5 HP, 1.6 – 2 HP, 2.1 – 4 HP, 4.1 – 6 HP), By Application(Transfer, Treatment, Others (Sewage, Lifting), By End-user(Residential, Commercial, Industrial (Agriculture & Irrigation, Mining), By Price(Low, Medium, High), By Distribution Channel(Direct Sales, Indirect Sales), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20C2085 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
216
|Figures:
75
Water Pump Market Insights
Global Water Pump Market size was valued at USD 58.57 billion in 2022 and is poised to grow from USD 61.15 billion in 2023 to USD 86.29 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).
The agricultural segment in India is witnessing a heightened demand for water pumps, spurred by escalating reliance on groundwater and erratic monsoon patterns. This dependency has amplified the necessity for efficient irrigation systems, driving the need for water pumps in the sector. Government initiatives aimed at enhancing water infrastructure, supply, and sanitation services nationwide are poised to further augment the use of water pumps across the country.
Notably, the growing emphasis on establishing wastewater treatment and desalination plants, coupled with various governmental endeavors to fortify and expand existing structures, reflects a concerted push toward water resource management. Additionally, the initiation of new infrastructure projects adds to the momentum, collectively contributing to an anticipated surge in demand for water pumps in India throughout the forecast period.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Centrifugal Pump
Fastest Growth
Growth Rate
4.4% CAGR
Global Water Pump Market ($ Bn)
Country Share for North America Region (%)
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Water Pump Market Segmental Analysis
Based on type, the market can be segmented into centrifugal (axial flow, radial flow, mixed flow, others (submersible, single & multistage, others), and positive displacement (reciprocating pump, rotary pump). Based on operation, the market is segmented into electric, pneumatic, hydraulic, gas, and others (manual, air driven, others). Based on power (HP), the market is segmented into 0 - 1.5 HP, 1.6 – 2 HP, 2.1 – 4 HP, 4.1 – 6 HP, and above 6 HP. Based on application, the market is segmented into transfer, treatment, and others (sewage, lifting, others). Based on end-user, the market is segmented into residential, commercial, industrial (agriculture & irrigation, mining, oil & gas, water & wastewater, and others {construction, chemical & petrochemicals, others}). Based on price, the market is segmented into low, medium, and high. Based on distribution channel, the market is segmented into direct sales, and indirect sales. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Technology
The positive displacement segment stands as a crucial component within the water pump market, offering specialized functionality and tailored applications. These pumps operate on a distinct principle, delivering a fixed quantity of liquid per cycle or rotation, making them particularly adept in scenarios requiring precise flow control or handling viscous fluids. Their design enables efficient performance in specific applications such as hydraulic systems, where accurate fluid movement is paramount.
In 2022, the centrifugal pump segment emerged as the dominant force within the water pump market, commanding a significant share of 52%. This segment's widespread usage spans various applications, including buildings, wells, fire protection systems, and industrial hot water circulation. Centrifugal water pumps, renowned for their versatility and efficiency, find extensive utilization across diverse sectors due to their adaptability to different settings. Conversely, positive displacement design type water pumps serve specific roles in hydraulic systems, offering precise fluid movement.
Analysis by End-User
The oil and gas segment notably claimed the largest market share, accounting for a substantial percentage in 2022. This dominance is underpinned by the heightened utilization of water pumps within the sector, primarily propelled by the escalating global demand for energy resources. The surge in demand has driven the integration of new technologies into water pumps, enhancing their efficiency in facilitating crucial separation processes for liquids and gasses within oil and gas operations. Additionally, the power generation sector is poised for increased adoption of water pumps in the forecast period, especially in emerging economies. This projected growth stems from amplified investments in the power and energy sectors within these regions, signaling a burgeoning demand for water pumps as integral components supporting essential operations within both the oil and gas and power generation industries.
The general industries segment within the water pump market serves as a diverse and vital sector encompassing a wide array of industries beyond specific niche applications. It caters to the varied needs of industries spanning manufacturing, automotive, food and beverage, pharmaceuticals, and more. Water pumps in this segment play a fundamental role in facilitating processes like cooling, circulation, filtration, and transfer of fluids essential to the operations of these industries.
Global Water Pump Market By Technology
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Water Pump Market Regional Insights
During the forecast period, North America is anticipated to exhibit the highest CAGR of 4.5% within the Global Water Pump Market. This growth trajectory is anticipated to be propelled by heightened domestic activities in emerging economies within the region, particularly Canada and the United States. Furthermore, the North America water pumps market is expected to experience significant impetus due to escalating government initiatives, notably in the United States, aimed at wastewater recycling.
The Asia Pacific is anticipated to command approximately 50% of the pumps market share, attributing this significant growth to several key factors. Rapid industrialization, coupled with swift urban migration and extensive infrastructure development, particularly in countries like China, India, and various Southeast Asian nations, forms the cornerstone of this expansion. The manufacturing sector in the region, bolstered by robust growth across automotive, chemical, and construction industries, has been a driving force behind the escalating demand for pumps.
Global Water Pump Market By Region
- Largest
- Fastest
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Water Pump Market Dynamics
Drivers
Increasing Demand within the Construction Sector Will Aid Growth
- The global market is on the brink of significant expansion, fueled by a surge in demand within the construction sector, amplified by the swift pace of urbanization and a burgeoning workforce. Notably, in the United States, the construction industry commands a substantial labor force, with nearly 10 million individuals, accounting for roughly 8% of the total workforce as of 2022. Water Pump, a vital component in construction, finds its primary application in filling gaps between various types of pavers, including those crafted from concrete, stone, and rock. The escalating construction endeavors focused on developing footpaths, cycle spaces, and walkways further drive the demand for this versatile material, accentuating its pivotal role within the construction landscape.
Restraints
Complexity and Precision May Hinder Growth
- Despite its widespread use and growth, the Water Pump market faces several notable restraints that impact its trajectory. One significant limitation involves the complexity and precision required during installation. Achieving optimal results necessitates meticulous application and adherence to specific guidelines, which can pose challenges for inexperienced users or contractors. Additionally, Water Pump's vulnerability to moisture during the installation process or in its early curing stages can result in potential issues like white haze or residue, impacting the aesthetic appeal.
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Water Pump Market Competitive Landscape
The competitive environment of the Global Water Pump Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
- Gardner Denver
- Torishima Pump Mfg. Co.
- General Electric Company
- Weir Group PLC
- Weatherford International Inc
- ITT Inc.
- PROCON Products
- KSB Group
- Kirloskar Brothers Limited
- Sulzer Ltd.
- Atlas Copco
- Baker Hughes Incorporated
- Busch LLC
- ClydeUnion Pumps
- Flowserve Corporation
Recent Developments
- In March 2024, the Kerala Water Authority (KWA) is set to install the second water pump in the Muvattupuzha river at Pazhoor on Wednesday. As part of its initiative to improve water supply from the Maradu water treatment plant, the KWA plans to replace three old pumps with new ones at Pazhoor. The first pump was successfully replaced with a new one on March 11, and the installation of the second pump marks progress toward enhancing water infrastructure in the region.
- In March 2024, the Brihanmumbai Municipal Corporation (BMC) announced plans to enhance water supply infrastructure in Mumbai by creating two additional transformers at the Pise water pumping station. This initiative aims to facilitate seamless water distribution across the city, addressing the growing demand for reliable water access.
- In March 2024, the Punjab Energy Development Agency (PEDA) announced its initiative to provide 90,000 new solar water pumps to farmers in the state for agricultural purposes. This effort aims to promote sustainable farming practices and reduce reliance on traditional energy sources, contributing to both environmental conservation and agricultural productivity.
Water Pump Key Market Trends
- The water pump industry has undergone significant evolution in recent years, marked notably by the rising embrace of smart and IoT-enabled pump systems. This integration of technology within pumps has revolutionized operations, enabling remote monitoring, predictive maintenance, and efficient energy optimization capabilities. Moreover, there's a burgeoning demand for pumps that offer heightened durability and reliability. Industries are increasingly seeking long-term solutions to curtail downtime and minimize maintenance costs, driving this surge in demand. These trends underscore a fundamental shift toward more efficient, connected, and sustainable pumping solutions, propelling the industry forward and expanding its market share.
Water Pump Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. The burgeoning investments in agricultural infrastructure play a pivotal role in propelling market growth within India. Water pumps serve as indispensable tools, facilitating the transfer of water from its source to agricultural fields, catering to various irrigation methods such as drip, sprinkler, and hose pipe irrigation. Complementing these investments, the Government of India's strategic adoption of schemes, policies, and reforms aims to bolster farmers' incomes and elevate overall agricultural activities across the nation. This concerted effort, combined with an increasing reliance on groundwater for diverse agricultural purposes, serves as a significant driver for market expansion. Moreover, India's focus on the development of sewage treatment plants (STPs) is experiencing a notable surge.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 58.57 billion |
| Market size value in 2031 | USD 86.29 billion |
| Growth Rate | 4.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 Water Pump 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 Water Pump 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 Water Pump 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 Water Pump 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 Water Pump Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Water Pump 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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