Global Heavy-duty Pumps Market Size, Share, Growth Analysis, By Product Type(Stainless Steel, Cast Aluminium), By Application(Processing Industry, Oil and Gas Industry) - Industry Forecast 2024-2031

Report ID: SQMIG20E2071 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 64 | Figures: 75

Global Heavy-duty Pumps Market Insights

Global Heavy-Duty Pumps Market size was valued at USD 16.81 billion in 2022 and is poised to grow from USD 17.75 billion in 2023 to USD 27.45 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

A number of important variables are driving the considerable growth trends in the market for heavy-duty pumps worldwide. First, the market is being driven ahead by the rising need for dependable and effective pumping solutions across several industries, including mining, water and wastewater treatment, and oil and gas. Transporting fluids, especially caustic and abrasive compounds, requires heavy-duty pumps, making them crucial to crucial industrial operations. Furthermore, as rising economies upgrade their water supply and wastewater treatment systems, the development of infrastructure projects, urbanization, and industrialisation are providing significant possibilities for heavy-duty pump producers.

The market, meanwhile, too has its share of difficulties. The growing attention being paid to environmental sustainability and energy efficiency is one of the main problems. Energy-efficient pumps with less environmental effect are becoming more and more in demand from consumers and regulatory organizations. It may be more expensive for producers to produce heavy-duty pumps since they must conform to greater energy efficiency criteria. Additionally, when more competitors enter the market, the level of competition rises, placing pressure on prices. To stay competitive and get a greater market share, manufacturers need to concentrate on innovation, product differentiation, and service offers.

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The presence of multiple well-established competitors competing to retain and increase their market share defines the competitive landscape of the worldwide market for heavy-duty pumps. Among the well-known businesses in this industry are Grundfos Group, KSB SE & Co. KGaA, Flowserve Corporation, Sulzer Ltd., and ITT Goulds Pumps Inc. These industrial juggernauts are well-known on a global scale and provide a wide selection of heavy-duty pump solutions for varied uses. 'Grundfos Group (Bjerringbro, Denmark)', 'KSB SE & Co. KGaA (Frankenthal, Germany)', 'Flowserve Corporation (Irving, Texas, USA)', 'Sulzer Ltd. (Winterthur, Switzerland)', 'ITT Goulds Pumps Inc. (Seneca Falls, New York, USA)', 'Xylem Inc. (Rye Brook, New York, USA)', 'Weir Group PLC (Glasgow, Scotland, UK)', 'Ebara Corporation (Tokyo, Japan)', 'Pentair Plc (London, UK)', 'Regal Beloit Corporation (Beloit, Wisconsin, USA)', 'Tsurumi Manufacturing Co., Ltd. (Osaka, Japan)', 'Schlumberger Limited (Houston, Texas, USA)', 'SPX Flow, Inc. (Charlotte, North Carolina, USA)', 'Kawasaki Heavy Industries, Ltd. (Kobe, Japan)', 'Wilo SE (Dortmund, Germany)', 'CIRCOR International, Inc. (Burlington, Massachusetts, USA)', 'Parker Hannifin Corporation (Cleveland, Ohio, USA)', 'Kubota Corporation (Osaka, Japan)', 'Sundyne (Arvada, Colorado, USA)', 'Flowrox Oy (Lappeenranta, Finland)'

One important driver is the increase of some groups, including wastewater treatment, production, chemicals, manufacturing, and oil and fuel. Heavy-responsibility pumps are used in those industries for lots of fluid dealing with techniques.

Service Providers: Heavy-duty pumps' lifetime and dependability are ensured by the expanding aftermarket services sector, which provides solutions for maintenance, repair, and replacement.

North America has historically been a significant market leader for heavy-duty pumps, with the United States occupying center stage. Several reasons, including the region's significant oil and gas production, massive industrial manufacturing, and robust infrastructural development, support this supremacy. In this environment, the oil and gas industry has been a significant driver of the need for heavy-duty pumps since these pumps are crucial to operations like drilling, refining, and pipeline transportation. The constant dedication of North America to infrastructure modernisation has also acted as a further impetus, increasing the need for heavy-duty pumps in a variety of settings, from building projects to municipal utilities.

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Global Heavy-duty Pumps Market Size, Share, Growth Analysis, By Product Type(Stainless Steel, Cast Aluminium), By Application(Processing Industry, Oil and Gas Industry) - Industry Forecast 2024-2031

Global Heavy-duty Pumps Market Insights

Global Heavy-duty Pumps Market Report Snapshots

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