Pumps Market Value to Increase by $79.01 Billion, at a 5.2% CAGR by 2029 – Report by MarketsandMarkets™
MarketsandMarkets Research Pvt. Ltd.
7 min read
MarketsandMarkets Research Pvt. Ltd.
Delray Beach, FL, March 10, 2025 (GLOBE NEWSWIRE) -- Pumps Market size is projected to grow from USD 61.32 billion in 2024 to USD 79.01 billion by 2029, at a CAGR of 5.2% according to a new report by MarketsandMarkets™. The significant factors driving the global pumps market are rapid industrialization, urbanization, and infrastructure development, especially in emerging markets like Asia-Pacific and the Middle East. The rising demand for water and wastewater treatment, coupled with an increase in the oil & gas, chemical, and energy industries, is further accelerating market growth. Moreover, the adoption of energy-efficient pumps and innovations such as IoT-enabled smart pumps is driving the expansion of the market. Environmentally tight regulations and the demand for environmentally friendly solutions are making industries upgrade their systems to more effective and environment-friendly alternatives. In addition, the emerging high-end pump application needs in agriculture, mining, and other industrial usage are helping market growth. These combine and influence each other to sustain the ongoing evolution of the market. Integrated technology with increased automation elevates efficiency and functionality in pumps across industries.
With a better efficiency, reliability, and suitability for wide applications in industries such as water & wastewater, oil & gas, and chemical processing, electric pumps hold the largest share of the global pumps market. They find preference due to the consistent performance they offer and lower operational costs with lower maintenance needs. Increased focuses on efficiency and sustainability with a stricter environmental regulation have just added fuel to the increase in electric pumps. Diversity, scalability, and association with automation and smart technologies place electric pumps at the top of the list as the answer to improving operational efficiency for most industries. Other factors that drive dominance for electric pumps include the increased demand in water and waste-water treatment and the increasing infrastructure in emerging markets. These are some of the underlying reasons why the electric pumps segment takes the lead in the market.
Commercial & Residential segment, by end user
The commercial and residential segment holds the second-largest market share in the global market of pumps as demand for water supply, drainage, and HVAC systems increases rapidly across residential buildings and commercial properties. The third reason is because irrigation and wastewater handling needs continue to increase with the rate of urbanization in society. Similarly, the growing need for pump systems in homes and commercial complexes that are energy-efficient and cost-effective has fuelled further growth in the market. In terms of smart home technologies and infrastructure development, government initiatives in residential and commercial water systems also enhance pump uptake in these sectors. That indicates the strong position of the segment is an imperative contributor to this growing population increase along with the developments in infrastructure, as well as the pressure of being energy-efficient.
North America holds the third-largest market share in the global pumps market as a result of the continuing demand from various industries, including oil and gas, water and wastewater, chemicals, and power. The region enjoys a highly developed infrastructure, industrial sector, and government regulations supporting sustainability and energy efficiency. In addition, leading pump technologies, including IoT-enabled and smart pumps, are pushing the growth of the market. Important players in the region are engaging in innovative activities and are further expanding operations to satisfy growing demand in energy-efficient solutions. Increasing the importance of industrial automation in North America, along with increased investments in water infrastructure and renewable energy projects, is pushing the growth of the market further.
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. These companies are continuous innovators and focus on investing in R&D efforts to launch energy-efficient and digitally enabled pumps to align with the growth of sustainable and IoT-integrated solutions. They are also building their geographic footprint through strategic acquisitions and partnerships in order to expand market reach and respond to region-specific requirements, especially in new markets across Asia and the Middle East. In addition, many are giving greater priority to expansion of after-sales service and customized offerings in areas ranging from water treatment to oil and gas. Sustainability initiatives, including the development of eco-friendly and energy-efficient pumps, remain at the heart of their approach as environmental regulations worldwide are becoming ever stringent. The companies therefore enable these companies to increasingly cater to changing customer needs, thereby maintaining leadership in such a competitive marketplace across the world.
In November 2024, KSB Limited opened a new service station in Baddi, Himachal Pradesh. This new service station, which covers an area of approximately 4,600 sq. feet, will service pumps in various markets, including water, wastewater, and energy.
In October 2024, Sulzer Ltd launched the ZF-RO end-suction pump to match the technical requirements of the energy recovery device (ERD) booster pump service. It combines the reliable design used in the ZF range with extensive references for excellent efficiency in the hydrocarbon and desalination industries.
In September 2024, Grundfos acquired Culligan's commercial and industrial (C&I) business in Italy, France, and the UK. This acquisition will likely expand Grundfos’s position in the European water treatment market, bringing a complementary portfolio of solutions and technologies for industrial and commercial needs.
In September 2023, Xylem Inc. and LORENTZ, the German solar water pump manufacturer, entered into a distribution partnership agreement to expand the availability of solar-powered pumping systems globally.
In July 2023, Grundfos Holding A/S acquired XPV Water Partners portfolio company Metasphere, a leading provider of telemetry and analytics solutions for water networks. This acquisition will add to the company’s core competencies within pumps and hydraulics and get ART Sewer integrated solutions from Metasphere.
In May 2023, Xylem Inc. acquired Evoqua Water Technologies Corp, a leader in mission-critical water treatment solutions and services, to create the world’s most advanced platform to tackle critical water challenges faced by customers and communities
CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. In addition, MarketsandMarkets SalesIQ enables sales teams to identify high-priority accounts and uncover hidden opportunities, helping them build more pipeline and win more deals with precision. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445, USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: www.marketsandmarkets.com
