What is the global market size of Water Pump Market?

Global Water Pump Market size was valued at USD 56.1 billion in 2021 and is poised to grow from USD 58.57 billion in 2022 to USD 82.65 billion by 2030, growing at a CAGR of 4.4% in the forecast period (2023-2030).

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 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.

Water Pump Market Report Snapshots

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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 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. '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'

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.

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.

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Water Pump Market Regional Insights

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