In 2032, it is anticipated that the Asia Pacific Industrial Pumps market share will be US$ 39.3 billion. The demand for industrial pumps has grown as global industrialization continues to expand.
The Asia Pacific Industrial Pumps market is anticipated to reach a value of US$ 24.8 Bn in 2022, according to FMI, and is expected to grow at a CAGR of 4.7% from 2022 to 2032.
Industrial pumps are used in many different industries and are crucial for transporting a variety of fluids from one place to another. Industrial pumps are available in a range of forms, dimensions, and capacities. Positive displacement pumps and centrifugal pumps, often known as roto-dynamic pumps, are the two main categories of industrial pumps. There are three types of centrifugal pumps: axial, mixed-flow, and radial. Piston, screw, sliding vane, and rotary lobe positive displacement pumps are among examples. Reliability and compliance with performance standards are highly important for these pumps. For instance, a cooling system pump failure might cause equipment to overheat and sustain significant damage.
Water, wastewater, oil & gas, chemicals, food & beverage, and other end-use industries are a few examples of industrial pumps’ diverse end-use applications. Because they are inexpensive, require little upkeep, and have a long lifespan, centrifugal pumps are the most often used kind. Applications requiring low fluid viscosity and high flow rates typically call for centrifugal pumps. Positive displacement pumps, on the other hand, are employed in low-flow, high-head applications involving very viscous fluids and precisely controlled flow applications. In terms of market share, centrifugal pumps are predicted to be in the lead. The greatest market for centrifugal pumps is the different services in the power generating segment, such as boiler feed, circulation, sludge treatment, and cooling stations. Positive displacement pumps are widely used in the production of renewable energy, such as micro-hydroelectric power, although they are only occasionally used in the power generation industry.
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New advancements in the field of micro disc pumps have been observed in the global industrial pump industry. Increased infrastructure development is one of the major reasons boosting this market’s growth. A lot of money is being invested in infrastructure in China, India, and other Asian and African nations, which is projected to help boost industrial output and fuel demand for industrial pumps. Industrial pumps are predicted to be in high demand from the process and manufacturing industries in developed nations like North America and Europe.
Western Europe is expected to witness sluggish market growth, characterized by stagnant economic conditions and low industrial output. Eastern Europe is expected to exhibit relatively stronger growth owing to improving industrial output in chemicals and water treatment industries. Middle East expenditure for industrial pumps are expected to rise as the pump sales in this region is expected to gain traction due to investments in desalination plants.
Improving economic conditions in the Asia Pacific (APAC) region are expected to open up enormously potential opportunities for pump manufacturers, as the automotive, construction and manufacturing industries are likely to witness substantial growth in the coming years. Along with the harsh impact of the recent recession, tough competition from low-cost manufacturers in developing nations is indeed a major restraint for development of the industrial pumps market in this region. Customers are usually inclined towards low-cost products, which barely comply with environmental standards. This factor is impacting the industrial pumps market to considerable extent.
As it is difficult to compete with low-cost rivals on the basis of price, leading industrial pump manufacturing companies will need to adopt different promotional strategies, based on the quality of their products, services and maintenance to sustain in the global market.
The key players in the industrial pumps market are ITT Corp., Flowserve Corp., KSB AG, Sulzer Ltd., Grundfos A/S, Ebara Corp., Weir Group plc, Baker Hughes, Inc., Schlumberger Ltd. and Clyde Union, Inc.
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Pumping systems are critically important for any process or manufacturing plants to operate efficiently. Industrial pumps are used for various industrial applications such as power and petrochemical plants, which directly support generation and production processes, and usually work for extended durations. It is estimated that around 27% of all the energy consumed by any industry is constituted by motor-driven equipment. This offers manufacturers of industrial pumps a window of opportunity to improve efficiency and launch newer and more innovative products.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. The report provides analysis and information by categories such as market types, technology and applications.
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