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Water Pump Market

Global Market Study on Water Pumps: Increasing Inclination toward Energy-efficient and Electric Water Pumps Driving Sales

Global Water Pump Market by Pump Type (Centrifugal Water Pump, Positive Displacement Water Pump) - Centrifugal Pump Type Market holds around 80% of the Global Market in 2023

Water Pump Market Snapshot

According to Persistence Market Research, the Water Pump market will generate revenue of US$ 50.2 Billion by 2023. The demand for Water Pump will accelerate, with the top market players holding a prominent share of the global water pump market in 2022. The global market for Water Pump is expected to reach US$ 77.2 Billion by 2033, growing at a 4.4% CAGR from 2023 to 2033.

Global agriculture industry is projected to witness a significant growth over the forecast period and is expected to have a high impact on the growth of the pump market. The wastewater management is gaining importance due to the severe changes in the world's climate and the widespread occurrence of droughts. Wastewater treatment is a critical requirement in industrial, commercial, and residential areas. Hence, the growth in wastewater treatment in several end use industries has positive impact on the global water pump market

Global Water Pump Market Size (2022A)

US$ 49.9 Billion

Global Water Pump Market Size (2023E)

US$ 50.2 Billion

Projected Water Pump Market Value (2033F)

US$ 77.2 Billion

Value CAGR (2023-2033)

4.4%

Collective Value Share: Top 3 Countries (2023)

35%

The adoption of advanced water pumps (IoT based) is still at the nascent growth in the global market except countries whereas government initiatives are looking to encourage water pumps in irrigation, municipal facilities and wastewater treatment plants.

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Demand Analysis of Water Pump from 2018 to 2022 Vs Market Outlook for 2023 to 2033

From 2018 to 2022, the market for Water Pump increased at a 3.1% CAGR and is anticipated to grow at a CAGR of 4.4% in the forecast period of 2023 to 2033. This increase in CAGR is higher because of factors including the wide applications of centrifugal and positive displacement pumps in wastewater treatment and water supply activities.

The water pump market has been adversely affected by the COVID-19 outbreak. This is attributed to the fact that the supply chain was disrupted by the lockdowns in several nations, which also had an impact on the distribution and assembly of household pumps. Additionally, organisations are putting a lot of effort into research and development because of the lack of funding. In addition, many small businesses have slim profit margins. The scenario is anticipated to alter with the lifting of the lockdowns, and sales of water pumps are anticipated to increase in the upcoming years.

Key players estimate the rising global water pumps market to represent a stable growth rate during the forecast period owing to product developments and investments in new manufacturing plants. Acquisitions, partnerships, and mergers among the leading players in the global pumps market are estimated to boost the market. Adoption of IoT is one of the prominent trends gaining traction among end use consumers, especially in the oil & gas sector. Oil & gas has been implementing IoT in their operations to improve overall efficiency and for remote monitoring of operations and has become one of the most prominent trends in the global water pumps market.

The market for Water Pump is anticipated to expand at a 4.4% CAGR between 2023 and 2033. By the end of 2033, the market is projected to increase from US$ 50.2 Billion to US$ 77.2 Billion.

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What are the drivers for Water Pump Market?

Infrastructure development initiatives are directly associated with the need for water pumps on a global scale. In emerging countries, urbanization is a priority for their governments, which is expected to increase demand for water pumps, notably for residential, irrigation, and water and wastewater treatment applications. The global market for water pumps is also being driven by the increased demand for solar-powered water pumps, particularly in irrigation and agricultural applications. Water scarcity is a serious problem that affects many areas of the world. Governments of many nations, especially in industries, are implementing regulations requiring water recycling and reuse. In the near future, this is anticipated to increase demand for water pumps.

Governmental organizations in developing countries like India, China, and Brazil are emphasizing the improvement of drinking water infrastructure in both urban and rural areas. Additionally, the discovery of new water sources is predicted to boost sales of water pumps for home and agricultural uses that are more powerful and efficient. Since most places on earth still do not have access to the most fundamental convenience of running water, desalinization initiatives are also anticipated to aid in the adoption of water pumps. Around 60% of the globe still lacks access to flowing water.

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What are the restraints for the Water Pump market growth?

The presence of both global and local competitors distinguishes the water pump industry in European market. The regional market participants are well versed in manufacturing processes for producing energy-efficient products that can compete with those of the market's major competitors. It is projected that this element would lead to price competition in the market, which will eventually cause overproduction and a reduction in profit margins by businesses in order to maintain a competitive advantage in the market.

In several countries, the number of local manufacturers and local vendors on water pumps is increasing rapidly, which offered low quality product at comparatively low price, which may challenge the growth water pumps market.

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What are the Key Opportunities on Offer for Water Pump Manufacturers?

Due to their straightforward design, broad capacity range, smooth flow rate, ease of maintenance, and operational effectiveness, centrifugal pumps are among the most often used pumps. For high-pressure applications that require the same quantity of flow to be produced at the same pace, positive displacement pumps are appropriate.

One of the primary end-use industries for pumps is construction, and with rising investment in this industry, the pumps market is expected to expand rapidly over the next several years. The next ten years are predicted to see many new development projects undertaken by governments and other private companies, which will result in increasing demand for pumps.

The key market participants offer a wide range of products in their portfolio and offer customization at a quicker turnaround time. Customers have reported that customization is their preferred option as their needs have shifted from general to niche applications. Manufacturers can capitalise on the opportunity of optimising the speed of large centrifugal pumps, which can save energy and reduce wear and tear on water pumps. Hence, most global players such as Grundfos, KSB AG, Wilo AG, and Xylem Incorporation aim to expand their local network by increasing tie-ups with regional as well as local distributors worldwide, which pave the way for futuristic growth of the targeted market.

Country-wise Analysis

Where Does the Germany Stand in the Global Market for Water Pump?

The market in the country of Germany is expected to create an absolute dollar opportunity of more than US$ 550 Mn from 2023-2033. Digitalization and automation are at the core of Germany's resource-effective, flexible, and competitive water management strategy thanks to WATER 4.0. As a result, machinery, processes, storage systems, and resources are now networked. Additionally, "smart grids" and the "Internet of Things and Services" have been developed, and these components are now integrated into a comprehensive water management context. The result is a holistic approach along the value-added chain thanks to the intelligent networking of water users including agriculture, industry, and households, as well as parts of a sustainable water infrastructure, with the environment and the water circuit.

What is the Outlook for Water Pump Manufacturers in India?

During the forecast period, India market is anticipated to grow in terms of value CAGR of 5.9%.

The industry is expanding in India primarily due to rising investments in agricultural infrastructure. Water pumps help move water from the source to the agricultural area and can be used for drip irrigation, hose pipe irrigation, etc. In order to increase farmers' incomes and the country's overall agricultural output, the Indian government is also putting plans, changes to policies, and programmes into action. This, together with the growing reliance on groundwater for other agricultural needs, are what are driving the market. Sewage treatment facility (STP) building has also considerably grown in India. The majority of the time, these facilities depend on municipal wastewater pumps, also known as sewage pumps, to transfer sewage, sludge, storm water, and wastewater from treatment tanks.

In addition, due to severe water shortages, various governments across the nation are concentrating on expanding desalination plants. Water pumps are also used on building sites to remove extra water that has accumulated because of high water table. This is accelerating the need for water pumps in India, together with the expanding building industry. Rapid industrialization and the growing demand for clean drinking water are two factors that are expected to drive market expansion.

Category-wise Insights

Which Pump Type has the Most Potential for Growth in the Water Pump Market?

Based on pump type, the centrifugal pump type dominates the global Water Pump market and holds around 80% of the market in 2023.

Over the forecast period, rising energy costs and rising environmental consciousness among end users are anticipated to fuel demand for energy-efficient and cost-effective centrifugal pumps. For end-use businesses that depend on centrifugal pumps, increasing water pump efficiency and lowering energy consumption and costs are crucial challenges. Centrifugal pumps that are energy-efficient lower yearly energy expenses, which benefits the environment.

Which End Use of Water Pump Witnesses the Highest Growth Rate?

Water & wastewater industry is a prominent end-use segment of the Water Pump market, witnessing a the highest growth rate of 5.5% between the forecast period 2023 to 2033.

Based on end use industries, the water and wastewater industry segment has good growth projections for global water pump market, as key market participants and governments look into technology that can turn wastewater into potable water in order to fulfil the demands of a growing population. Increased expenditures in technology like water pumps for clean water and sanitary purposes are occurring in Africa as a result of the surge in demand for high-purity production forms. The leading market players provide a wide selection of pumps that are tailored to the treatment requirements in order to efficiently and dependably pump wastewater through all stages of treatment.

Competitive Landscape

The water pumps market is highly fragmented with the presence of more than 1,000 number of players across the globe. Market players are now focusing on increasing customer retention and strengthening their relationships with existing customers. Long-term relationships with customers and vendors enable companies to acquire long-term contracts for the deployment of water pumps.

Some of the key developments are:

  • In October 2020, KBL launched a new energy efficient SP coupled pump set fitted with IE4 motor.
  • In April 2021, IDEX Corporation signed a definitive agreement to acquire Airtech Group Inc., US Valve Corporation, and related entities from investment funds managed by Eagle Tree Capital for a cash consideration of USD 470 million. Airtech manufactures and designs a wide range of engineered pressure technology, including positive displacement vacuum pumps, regenerative blowers, compressor systems, and valves.

Water Pump Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2018-2022

Market Analysis

  • US$ Mn for Value
  • Units for volume

Key Regions Covered

  • North America
  • Latin America
  • East Asia
  • Western Europe
  • Eastern Europe
  • Central Asia
  • South Asia & Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
  • BENELUX
  • Poland
  • Hungary
  • Romania
  • Czech Republic
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia and New Zealand
  • KSA
  • UAE
  • Turkey
  • Northern Africa
  • South Africa
  • Israel

Key Market Segments Covered

  • Pump Type
  • End Use
  • Region

Key Companies Profiled

  • 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
  • Ebara Corporation
  • Flowserve Corporation
  • Halliburton Company
  • ULVAC Technologies
  • Jyoti Ltd
  • Shakti Pumps India Ltd
  • CNP Pumps India Pvt Ltd
  • CRI Pumps Pvt Ltd

Pricing

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Key Segments Covered in Water Pump Industry Research

By Pump Type:

  • Centrifugal Pump
  • Positive Displacement Water Pump
  • Other Pump

By End Use:

  • Oil and Gas and Refining
  • Chemical
  • Power Generation
  • Water and Wastewater
  • General Industry

By Region:

  • North America
  • Latin America
  • East Asia
  • Western Europe
  • Eastern Europe
  • Central Asia
  • South Asia & Pacific
  • Middle East & Africa

- Companies Covered in This Report -

  • CRI Pumps Pvt Ltd.
  • 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
  • Ebara Corporation
  • Flowserve Corporation
  • Halliburton Company
  • ULVAC Technologies
  • Jyoti Ltd
  • Shakti Pumps India Ltd
  • CNP Pumps India Pvt Ltd

- Frequently Asked Questions -

The global Water Pump market is estimated to be valued at over US$ 50.20 Billion as of 2023.

Water Pump are projected to increase at 4.4% CAGR and is expected to be valued at around US$ 77.2 Billion by 2033 end.

Atlas Copco Group, XylemInc, Ebara Corporation, GRUNDFOS, Gardner Denver, Inc. , KSB SE & Co. KGaA, Flowserve Corporation, Sulzer AG , The Weir Group PLC.

India, the U.S., and Germany are major producers and exporters of Water Pump.

Japan is slated to hold a 4.0% share of the global market in 2022.

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