The global water pump market is poised for significant growth, with projections indicating it will reach US$ 52.4 billion by 2024 and US$ 80.6 billion by 2034, expanding at a CAGR of 4.4%. This growth is fueled by a surge in demand for power generation, particularly in developing nations, where industries like mining, construction, and agriculture rely heavily on water pumps for irrigation, dewatering, and water recycling.
Furthermore, substantial investments in infrastructure development, such as the US’s commitment to investing US$ 1.1 trillion in water management infrastructure over the next 20 years, are further propelling market expansion.
East Asia is projected to hold a 5% market share in 2024, showcasing the region’s growing influence in the water pump market.
Key players driving innovation in this sector include KSB SE & Co. KGaA, Xylem Inc., Sulzer Ltd, Torishima Pump Mfg. Co., Danfoss A/S, ITT INC., Flowserve Corporation, Ebara Corporation, WILO SE, and Grundfos Holding.
The centrifugal pump segment is anticipated to experience a 2% CAGR through 2034, generating an absolute dollar opportunity of US$ 53.8 billion over the next decade.
“The water pump market growth is being driven by increasing investments in water management infrastructure worldwide, rising demand for high-capacity water pumps, and the transition from diesel to electric pumps for greater efficiency and cost-effectiveness,” says a Fact.MR analyst.
Leading Players Driving Innovation:
Key market players are actively innovating their product offerings to meet the diverse needs of clients. Manufacturers are investing heavily in energy-efficient technologies, such as variable frequency drives (VFDs) and high-efficiency motors, to minimize energy consumption and reduce the environmental impact of water pumping operations. This aligns with global efforts to promote sustainable water management practices.
For example, KSB SE & Co. KGaA manufactures pumps with different material variants depending on the application, allowing for customization and ensuring optimal performance and longevity. This approach results in pumps with extended service life, superior efficiencies, and reduced energy and life-cycle costs.
Recent Industry Developments:
* In August 2023, Wilo Group established a new, sustainable, and technologically advanced production plant in Kesurdi, India, to manufacture premium pump systems for water management in India, the Middle East, Africa, and Southeast Asia.
* In January 2022, Sulzer expanded its clean water pump portfolio with the introduction of the SES and SKS ranges. These EN733 standard compliant pumps offer a cost-effective, efficient, and reliable solution for municipalities, water treatment facilities, as well as commercial and irrigation applications.
Market Segmentation:
The report provides a detailed analysis of the water pump market segmented by pump type (centrifugal pumps, positive displacement water pumps, other pumps) and end use (oil & gas and refining, chemicals, power generation, water & wastewater, general industry), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Oceania, and the Middle East & Africa).
Conclusion:
The water pump market is experiencing substantial growth driven by a combination of factors, including increasing investments in water management infrastructure, rising demand for high-capacity pumps, and the shift towards energy-efficient technologies. As the world strives for more sustainable water management practices, the demand for innovative and efficient water pumps is expected to remain strong in the years to come.
