Global Pumps Market to Reach $79.01 Billion by 2029 with A Growth Rate of 5.2% – Report by MarketsandMarkets™
Delray Beach, FL, June 17, 2025 (GLOBE NEWSWIRE) -- The Pumps Market size has grown significantly in recent years. Projected to surge from $61.32 billion to $79.01 billion in 2029, the market’s compound annual growth rate CAGR will see an increase of 5.2%. Emerging revenue pockets for the global Pumps Market include an increased adoption of smart and IoT-enabled pumps that enable predictive maintenance and optimized performance across sectors, as well as increasing uses of energy-efficient pumps, driven by more stringent regulations and sustainability goals. Improving investment in infrastructure will serve as a significant growth stimulant in developing regions, most notably within the Asia-Pacific and the Middle East markets. At the same time, the adoption of electric-driven pumps in renewable energy, water & wastewater treatment, and agriculture sectors offers new avenues for revenue, as those industries continue to grow in response to global environmental and resource management challenges.
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Global Pumps Market Dynamics
- Driver: Rapid industrialization and urbanization
- Restraint: Regulatory complexity and high cost of compliance
- Opportunity: Adoption of smart and IoT-enabled pumps
- Challenge: Complexity in retrofitting and integrating pumping systems
Rotary pumps segment, by type, hold the second-largest market share in global Pumps Market due to their suitability for handling thick viscous fluids and offering smooth continuous flow without pulsation, which makes them worthwhile in oil and gas, chemicals, pharmaceuticals, and food and beverage industries. They are particularly very efficient in transferring thick sticky or abrasive liquids where other pump types cannot cope. Other factors like operational efficiency and flexibility of rotary pumps in lubricants, adhesives, paints, and other viscous fluids heighten market appeal. Because more industries require precision in fluid handling and hence strive to optimize energy consumption, the steady growth of rotary pump demand supports its strong market position.
Stakeholders
- Pump manufacturer associations.
- Oilfield service players
- Public and private water supply and pumping station operators
- Government and research organizations
- Pump raw material providers.
- Consulting companies
- Industrial users
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Mechanical pumps segment, by operation, holds the second-highest market share in the Pumps Market during the forecast period. It is because they are better suited for specialized applications in industries with limited electricity availability or higher energy efficiency requirements. These pumps are used in some oil & gas and mining and agricultural sectors, which require reliable and low-cost operation. There are opportunities to be explored through the increasing demand for eco-friendly solutions with non-electric pumps, such as manual, hand-operated, or solar-powered pumps. Many unstable power supplies or underdeveloped areas will also find a suitable and inexpensive alternative in non-electric pumps. With no need for constant power supply, it increases their adoption rate in developing markets, and they become a first choice in industrial applications and in rural areas.
Europe holds the second largest market share in the global Pumps Market during the forecast period. It is because of its established industrial bases with stringent environmental regulations and a focus on energy efficiency. Highly efficient, sustainable pumping solutions are required by the various industries in Europe: chemicals, pharmaceutical, water treatment, and manufacturing, which creates demand for more advanced pump technologies. The sustainability and emission reduction commitments of the region add another factor to opting for innovative, energy-efficient pumps for cleaner industrial operations and less degradation. Moreover, extensive investment in infrastructure modernization, water and wastewater management, and a supplier network also underpin Europe's position within the international Pumps Market.
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Key Market Players
Diversified strategies are being used by key players in the global Pumps Market, including Grundfos Holding A/S (Denmark), Xylem (US), Flowserve Corporation (US), KSB Limited (India), and Sulzer Ltd (Switzerland) for maintaining the competitive advantage.
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