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Industrial Pumps Market - Global opportunity analysis and industry forecast, 2020-2027

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Jun 2021 | 195 Views
 
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COVID-19

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Pump is an important equipment or machine, which is widely used in different industries across the world. It is a device used so that the fluid can be compressed, transported, or raised from one place to the other. Industrial pumps are more commonly used inindustries where frequent movement of the fluid is done such as chemical industry and oil & gas industry. The conversion of electrical energy into the hydraulic energy is done by using industrial pumps. Different types of industrial pumps are available in the market and these are selected according to the application and requirement.

Market scope and structure

Report Metric

Details

 Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Product type, Application, End use industry,and Region

  Companies covered

Major players analyzed includeFlowserve Corporation, Grundfos Holding A/S, KSB AG, ITT Inc, Sulzer Ltd., Ebara Corp., Weir Group plc, Schlumberger Ltd., Baker Hughes, Inc, Clyde Union, Inc., Dover Corporation

 

Regions covered

North America

Europe

Asia-Pacific

LAMEA

U.S., Canada and Mexico

Germany, France, UK, Italy, Spain and the Rest of Europe

China, Japan, India, South Korea and the Rest of Asia Pacific

Latin America, Middle East and Africa

COVID-19 scenario analysis:

  • he demand for industrial pumps is expected to decrease in the year 2020, owing to low demand from different industries due to lockdown imposed by government of many countries.
  • COVID-19 pandemic has shut-down production of various products in the industrial pumps industry, mainly owing to prolonged lockdown in major global countries. This has hampered growth of the industrial pumps market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020 and is expected to cause a negative impact on the market growth throughout the year.
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of corona virus, thereby halting demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors:

In industrial pumps rotary or reciprocating mechanism is used and the energy is consumed by the pump to perform the operation of movement of the fluid. Different kinds of energy sources can be used to operate the pump such as wind power, engines, electricity and also the manual operation. The industrial pump comes in different sizes which include the small pump in the microscope and the large pump which is used in various industries.

Industrial pumps are used in variety of applications in different industries. It is used for pond filtering, aquarium filtering and also used for pumping the water from the well. In automobile industry, the industrial pump is used for fuel injection system and for water cooling purpose. Pumping of oil is very important process in the energy sector. For this purpose, industrial pumps are widely used. Also, for operating the heating ventilation and air conditioning systems and cooling towers these pumps can be implied. Different stages are present in the pump such as single stage pump and multi stage pump. In single stage pump, casing consists of one revolving impeller and in case of multistage pump; casing consists of more than two revolving impellers.

Different types of the industrial pumps are available in the market such as positive displacement pump,hydraulic ram pumps, velocity pumps and centrifugal pump. Among all these types of pumps, centrifugal pump is the most widely used type of industrial pumps.

New product launch to flourish the market:

Many companies in the industrial pump market are developing and introducing new products to the market. These new products are technologically more advanced than the previous range of their products. These new products are more efficient and effective in their performance and are widely used in the industry.

In September 2019, Little Giant launched technically advanced HVAC condensate pump named as VCMA-20 ULS. This advanced HVAC condensate pump has safety switch included in it to ensure the safety of the pump in case of any failure. VCMA-20 ULS is capable of collecting the condensate, detecting and automatic removal of condensate from air conditioning device. It can be used to eliminate the condensate from the condensing boilers and de-humidifiers.

Key driving factors for the growth of industrial pump market:

The use of industrial pump is necessary where the lifting of the fluid is required. The industries such as petrochemical, oil and gas and water treatment makes use of the industrial pumps more frequently. This could be the key driving factor for the growth of industrial pump market.

Also, many companies in the industrial pump market are using new technologies in their pumps. Because of this the performance of the pumps is improving. Hence, the demand for advanced industrial pump is expected to rise during the forecast period.

Key restraining factors for the growth of industrial pump market:

Oil and gas industry is one of the industries in which pumps are used in large extent. But due to some reasons such as emission of carbon from the oil and gas companies, the growth of oil and gas industry has affected in negative way. This could be the key restraining factor for the growth of industrial pump market.

Key segments covered:

Segments

Subsegments

Product type

 

  • Positive displacement pump
  • Centrifugal pump

Stages

 

  • Single stage industrial pump
  • Multi stage industrial pump

 

End use industry

 

  • Oil & Gas
  • Water & Wastewater
  • Chemicals & Petrochemicals

 

Key benefits of the report:

  • This study presents the analytical depiction of the industrial pumps market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
  • The report provides a detailed industrial pumps market analysis based on competitive intensity and how the competition will take shape in coming years.
 
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