The global pumps market is estimated at US$ 72 billion in 2021 and is expected to grow at a steady

WILMINGTON, Del. - Jan. 11, 2023 - PRLog -- The report, titled "Global Pumps Market" assesses the regional and global market by the pump type, the installation, the end user, and region. The report is comprehensive and provides thorough historical and forecast market size along with trends analysis.

Market overview and dynamics

The global market for pumps is expected to expand at a rate of 3.5% over the forecast period of 2022-2028. The market is mainly driven by the increasing investments in production and exploration by oil and gas companies and the increasing use of pumps in the petrochemical, pharmaceutical and medical industries.

Segmental Analysis

• Based on type, centrifugal pumps are expected to generate prominent revenue. Centrifugal pumps are the most majorly used pump as they are one of the best technologies for water and thin liquids and slurries that are encountered across every industry.

Competition Analysis

The global pumps market is fragmented in nature with the presence of various players in the market. emphasizing competitive pricing. Various development strategies, like business expansion and joint ventures, promote market growth and provide lucrative growth opportunities to market players.  Product innovations, launches, and partnerships are the identified industry trend in the global pumps market. Significant consolidation is expected in the global market during the assessed period 2022-2028.

• In February 2020, Ingersoll-Rand announced the spin-off of its industrial segment and combine it with Gardner Denver Holdings Inc. This was aimed to create an industrial company – Ingersoll-Rand Inc., with a stronger, broader portfolio of mission-critical industrial, energy, medical, and specialty vehicle products and services.

Some of the prominent players that contribute significantly to the market growth include Flowserve Corp., Grundfos Holding AS, KSB SE & Co. KGaA, ITT Inc., Sulzer Ltd.,among others.

RationalStat has segmented the global pumps market on the basis of type, installation, end user, and region

• By Type
  • Centrifugal Pump
    • Axial & Mixed Flow
    • Single-Stage
    • Multi-Stage
    • Others (Seal Less and Circular, Submersible)
  • Positive Displacement Pump
    • Reciprocating
      • Piston
      • Diaphragm
    • Rotary
      • Artificial Lift
      • Screw and Progressive Cavity
      • Gear
      • Vane
      • Lobe
      • Others (Peristatic
    • By Installation
      • Stationary
      • Portable
    • By End User
      • Oil and Gas
      • Chemical and Petrochemical
      • Water and Wastewater
      • Power Generation
      • Others (Mining, Agriculture, Equipment)
    • By Region
      • North America
        • US
        • Canada
      • Latin America
        • Brazil
        • Mexico
        • Rest of Latin America
      • Western Europe
        • Germany
        • UK
        • France
        • Spain
        • Italy
        • Benelux
        • Nordic
        • Rest of Western Europe
      • Eastern Europe
        • Russia
        • Poland
        • Rest of Eastern Europe
      • Asia Pacific
        • China
        • Japan
        • India
        • South Korea
        • Australia
        • ASEAN (Indonesia, Vietnam, Malaysia, etc.)
        • Rest of Asia Pacific
      • Middle East & Africa
        • GCC
        • South Africa
        • Turkey
        • Rest of the Middle East & Africa

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