Industrial Pumps Market Analysis: Integrating IoT and Collaborations in the Industry from Dipaxac's blog

The Industrial Pumps Market Analysis has demonstrated strong growth, with a valuation of USD 62.36 billion in 2022. Projections suggest significant expansion, with the market expected to reach USD 93.55 billion by 2030, reflecting a robust Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period from 2023 to 2030.

A pump, a mechanical device designed for moving fluids or slurries, plays a pivotal role in various applications. Operating on reciprocating and rotating mechanics, pumps can be powered by manual operation, electricity, engines, or wind power. Their versatility allows for pumping water from wells, fuel injection, cooling towers, and other processes. In the industrial context, pumps are heavy-duty applications used to transport materials such as water, chemicals, fuel, wastewater, tar, sludge, slurry, or food.

Key Highlights:

1. Current Valuation: As of 2022, the Industrial Pumps Market Analysis is valued at USD 62.36 billion, underscoring its indispensable role in fluid transportation across diverse industries.

2. Projected Growth: Forecasts suggest significant expansion, with the market anticipated to reach USD 93.55 billion by 2030, demonstrating a robust CAGR of 5.2% during the forecast period.

3. Versatile Applications: Industrial pumps find applications in a wide range of industries for transporting various materials, including water, chemicals, fuel, wastewater, tar, sludge, slurry, and food.

4. Power Sources: Pumps can be powered by manual operation, electricity, engines, or wind power, allowing for flexibility in their usage across different contexts.

Industry analysts attribute the anticipated growth to the increasing demand for efficient fluid transportation solutions in industrial processes. The Industrial Pumps Market presents opportunities for stakeholders, investors, and businesses operating within the manufacturing, chemical, and other industrial sectors.

KEY MARKET SEGMENTATION

- Basis of Type

• Centrifugal
• Reciprocating
• Rotary
• Other

- Basis of Position

• Submersible
• Non-Submersible

- Basis of Driving Force

• Engine-Driven
• Electrical Driven

On The Basis of End-User

• Oil & Gas
• Chemicals
• Power Generation
• Water & Wastewater
• General Industry

FREE Sample Report of Industrial Pumps Market Analysis
https://www.snsinsider.com/sample-request/1191 

Key Players

The major key players are Atlas Copco Ab, Ebara Corporation, Flowserve Corporation, Grundfos Holding A/S, Itt Inc., Ksb Se & Co. Kgaa, Sulzer Ltd., The Gorman-Rupp Company, The Weir Group Plc, Xylem Inc. and Other Players

Driving Factors

• Chemicals and wastewater treatment are examples of different uses.
• Demand for modern manufacturing facilities comes from a variety of businesses.

Opportunities

• Considerable exploration activity in the unconventional gas and oil industry, both onshore and offshore.
• Industrial pump technical improvement is expected to give profitable prospects.

Download Full Report of Industrial Pumps Market Analysis!!
https://www.snsinsider.com/checkout/1191 

Table of Contents

1. Introduction

1.1 Market Definition 

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia War

4.3 Impact of Ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis
...
14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

15. Conclusion