USD 2.7 billion
Report ID: SQMIG15J2032 | Region: Global | Published Date: February, 2024 | Pages: 242 | Tables: 67 | Figures: 75
GCC Industrial Pumps Market size was valued at USD 2.7 billion in 2021 and is poised to grow from USD 2.9 billion in 2022 to USD 4.2 billion by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).
Dewatering or getting rid of excess water is a common use for industrial pumps. The movement of a variety of fluids from one location to another is made possible by industrial pumps, which are used in a variety of industries.
Different industries use industrial pumps in different ways; for example, in the water and wastewater area, these are utilized to eliminate overabundance of water while in treatment facilities, they are utilized to eliminate overabundance of oil collection. It is anticipated that the expansion of the market will be aided by the rising use of these products in a variety of sectors, such as the power generation, chemical, oil and gas, and water and wastewater treatment sectors. Due to the closure of manufacturing facilities,
Throughout the projection period, price fluctuations in industrial pump components as a result of strong demand from end-user industries are anticipated to have a negative impact on capital investments. Over the coming years, major companies are likely to put more effort into developing low-cost manufacturing processes and cutting-edge technology for pump productivity enhancement.
Global Market Size
USD 2.7 billion
Water and wastewater
Water and wastewater
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The Industrial Pump Market is segmented on the basis of Product type, Application, and region. Whereas, By Product type, it is sub segmented into the centrifugal, reciprocating, rotary, and Other. By Application, it is sub segmented into the water and wastewater, oil and gas, chemicals and petrochemicals, power generation, mining industry, and others. By Region it is segmented into Saudi Arabia, Turkey, UAE, Rest of Middle East.
GCC Industrial Pumps Market Analysis by Product type
Based on the Product type, The centrifugal pumps dominate the market as they are widely used for water and wastewater treatment, hydrocarbon processing, refineries, water injection, and pipeline services. Due to their low upkeep, these products are used in a wide range of applications, including the chemical, food and beverage, water supply, fire protection, and sewage disposal industries.
The rapid construction of residential and commercial infrastructure as well as the expansion of the manufacturing sector are driving the expansion of the global market for centrifugal pumps. The rapid urbanization caused by increased infrastructure investment is to blame for the expansion. Over the next few years, the industry is anticipated to be driven by the demand for these products from the wastewater treatment sector.
As reciprocating pumps gain popularity due to their higher efficiency than centrifugal pumps and their use in precision dosing and high-pressure output applications, positive displacement pumps are anticipated to see significant growth over the forecast period. The increased investment in specialized reciprocating pumps is due to the current complex refining process, which involves high temperatures, high pressures, and the ability to handle volatile fluids. Consequently, this sector will be driven by an expanding positive displacement pump market during the forecast period.
GCC Industrial Pumps Market Analysis by Application
On the basis of application, Water and Wastewater segment is expected to dominate the market in the coming years owing to infrastructural development across the globe. In the power generation industry, these products are used for boiler feed water, cooling water, circulation water, condensate water, services for flue gas desulfurization, and auxiliary services.
Additionally, a number of products, such as boiler feed pumps, booster pumps, condensate pumps, and circulating pumps, are required for the production of steam, which is an essential part of power plants. As a source of raw materials for numerous industries, the chemical industry is one of the main drivers of industrial economic expansion. As environmental and worker safety concerns rise, it is anticipated that these products will be used more in the chemical industry.
Dewatering, the removal of excess water to prevent waterlogging, cement production, dyeing processes, roofing tile production, and dust trapping are all applications in the construction industry that require industrial pumps. In construction, peristaltic pumps are utilized for the transfer of cement slurry and chemical dosing.
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Smart Tek Log is a leading industrial pump manufacturer in Saudi Arabia. Over the next few years, the USD 23 billion Barakah Nuclear Power Plant in the United Arab Emirates and the USD 563 million Doha South Sewage Treatment infrastructure in Qatar are anticipated to drive demand for industrial pumps in Saudi Arabia.
Additionally, it is anticipated that a number of sectors, including oil and gas and food and beverage, will experience significant growth in the near future due to the fact that a number of countries in the Middle East have launched their vision initiatives to achieve economic diversification.
During the forecast period, this would result in an increase in the use of industrial pumps in non-oil sectors across multiple Middle Eastern nations.
One of Saudi Arabia's leading dealers, suppliers, and exporters of centrifugal pumps. Fluids are moved through centrifugal pumps by converting the fluid's hydrodynamic energy into rotational kinetic energy.In Saudi Arabia, we offer a wide range of centrifugal pumps that are widely used in fluid-based, engineering, and other industries to transport milk, juice, water, and chemicals, among other things.
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GCC Industrial Pumps Market Drivers
In-Demand Oil & Gas Industry is Creating Lucrative Opportunities for Players in the GCC Industrial Pumps Market
GCC Industrial Pumps Market Restraints
Concerns related to Carbon Emission to Hinder Market Growth
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The market is characterized by the presence of both international and local producers due to the ongoing development in demand for water treatment in the coming years. Companies use a variety of channels to sell their products, such as company websites, e-commerce websites, merchant websites, distributor websites, and websites for end users.
Product pricing, performance, design, technology, reputation, and availability are all areas in which manufacturers compete. New product launches, expanding distribution networks, investing in research and development (R&D), and mergers and acquisitions are some of the strategies that businesses are employing to increase their market share and reach.
GCC Industrial Pumps Market Top Players Company Profile
ITT Goulds Pumps
Weir Group PLC
SPX Flow Inc.
Alfa Laval AB
Baker Hughes Company
Kirloskar Brothers Limited
Tsurumi Manufacturing Co., Ltd.
ClydeUnion Pumps (SPX FLOW)
GCC Industrial Pumps Market Recent Developments
Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our GCC industrial pumps market analysis, The centrifugal pumps dominate the market as they are widely used for water and wastewater treatment, hydrocarbon processing, refineries, water injection, and pipeline services.
|Market size value in 2021
|USD 2.7 billion
|Market size value in 2030
|USD 4.2 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the GCC Industrial Pumps Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the GCC Industrial Pumps Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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