Heavy-Duty Pump Market to Grow at 4.7% CAGR, Driven by Industrial Demand - Future Market Insights, Inc.

NEWARK, Del., Feb. 1, 2024 /PRNewswire/ -- The heavy-duty pump market is expected to grow steadily in the next decade, driven by the demand from various industries, infrastructure projects, and water management solutions. The market is also influenced by technological innovations and digitalization that improve the performance and efficiency of heavy-duty pumps.

The Heavy-Duty Pump Market is estimated to be worth US$ 16.2 billion in 2024 and is projected to be valued at US$ 25.7 billion in 2034. Between 2024 and 2034, the industry is expected to register a growth rate of 4.7%. The continuous growth of industries such as manufacturing, mining, and oil and gas serves as a major catalyst for the heavy-duty pump market. These expanding sectors necessitate dependable and high-capacity pump solutions to sustain and optimize their operations, resulting in a heightened and sustained demand for heavy-duty pumps.

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Increasing investments in infrastructure development projects, encompassing the construction of bridges, dams, and transportation networks, are driving a surge in demand for heavy-duty pumps. These initiatives frequently require robust pumping solutions to address critical tasks, including dewatering, concrete pumping, and efficient water transfer. Growing apprehensions regarding water scarcity and a heightened focus on effective water management solutions are propelling the demand for heavy-duty pumps. This increased need is particularly evident in critical applications such as wastewater treatment, desalination, and water distribution.

Advancements in pump technologies, marked by enhancements in efficiency, reliability, and durability, are key drivers of market growth. The integration of smart and automated features further enhances the attractiveness of heavy-duty pumps across diverse industries. Digitalization is transforming the heavy-duty pump sector, with the implementation of digital twins, automation, and data analytics for optimized performance, predictive analytics, and streamlined operations.

Heavy Duty Pump Industry Report Coverage

Key Takeaways from the Market Report

•  From 2019 to 2023, the heavy duty pump market expanded at a CAGR of 6.4%.

•  Based on application, the food processing segment is expected to rise at a CAGR of 4.1% from 2024 to 2034.

•  The heavy duty pump demand in China is predicted to grow at a CAGR of 5.2% through 2034.

•  In the United States, the heavy-duty pump industry is estimated to register a CAGR of 5.1% from 2024 to 2034.

•  The United Kingdom is projected to expand by a value CAGR of 6.2% between 2024 to 2034.

•  The heavy duty pump market in Japan is anticipated to record a CAGR of 5.5% during 2034.

"The ongoing expansion of industries, growing infrastructural development and need for efficient water management solutions drive demand for heavy-duty pumps," says an FMI analyst. 

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Competitive Landscape

Companies are heavily investing in R&D activities to enhance their heavy-duty pump technologies. Many companies are engaging in strategic collaborations with other industry players, technology partners, or research institutions. These collaborations aim to combine expertise, share resources, and accelerate the development of cutting-edge heavy-duty pump solutions.

Key Companies Profiled in Heavy Duty Pump Industry Insights, 2024-2034

• Alfa Laval AB
• Baker Hughes, a GE company
• Ebara Corporation
• Flowserve Corporation
• Gardner Denver Inc.
• General Electric Company
• Grundfos Holding A/S
• Ingersoll-Rand PLC
• ITT Corporation
• KSB AG
• Metso Corporation
• Sulzer Ltd.
• Weir Group PLC

Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.

Recent Developments,

•  Ebara Corporation is a leading global provider of pumps and related technologies. Ebara consistently engages in research and development to enhance pump efficiency and reliability. The company also focuses on expanding its global market presence through strategic initiatives.

•  Grundfos is a prominent pump manufacturer with a global presence. Grundfos is committed to sustainability and efficiency in pump solutions. The company focuses on incorporating smart technologies and environmental considerations into its products.

Top of FormMore Valuable Insights Available

Future Market Insights offers an unbiased global heavy-duty pump market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand opportunities in the heavy duty pump industry, the industry is segmented based on type (Pneumatic pump, Hydraulic pump) by Application (Food Processing, Water & Waste Water Treatment, Others) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa)

Request to Access the Detail Research Methodology from here!

About the Industrial Automation Division at Future Market Insights

The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide.

With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.

About the Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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