According to the latest industry analysis by Fact.MR, the global water pump market is projected to reach a value of US USD 52.4 billion in 2024 and is expected to grow at a CAGR of 4.4%, reaching US USD 80.6 billion by 2034.
Water pumps serve a wide range of applications across industries such as mining, construction, and agriculture, where they are used for irrigation, dewatering, and water recycling. Their main function is to move, compress, or transfer water from lower elevations to higher levels.
Demand for water pumps is rising due to the growing need for power generation, particularly in developing nations. Industries such as mining, construction, and agriculture account for high demand for water pumps for tasks such as irrigation, dewatering, and water recycling. Substantial investments by developing nations in infrastructure development are also driving market growth. According to reports, the United States plans to invest US USD 1.1 trillion in water management infrastructure over 20 years.
Key Takeaways from Market Study:
- The global water pump market is projected to expand at 4% CAGR and reach a valuation of US$ 80.6 billion by 2034-end.
- East Asia is estimated to hold a market share of 5% in 2024.
- Key market players include KSB SE & Co. KGaA, Xylem Inc., Sulzer Ltd, Torishima Pump Mfg. Co., Danfoss A/S, ITT INC., Flowserve Corporation, Ebara Corporation, WILO SE, and Grundfos Holding.
- Centrifugal pump sales are projected to increase at a CAGR of 2% through 2034. This segment is forecasted to create an absolute dollar opportunity of US$ 53.8 billion from 2024 to 2034.
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“Water pump market growth is being driven by increasing investments in water management infrastructure worldwide, rising demand for high-capacity water pumps, and the transition from diesel to electric pumps for greater efficiency and cost-effectiveness,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Water Pump Market
Key Players in the water pump market are KSB SE & Co. KGaA, Xylem Inc., Sulzer Ltd., Torishima Pump Mfg. Co., Danfoss A/S, ITT INC., Flowserve Corporation, Ebara Corporation, WILO SE, Grundfos Holding, The Weir Group PLC, Alfa Laval, Kubota Corporation, AxFlow Holding AB, Kirloskar Brothers Ltd., Franklin Electric Co. Inc.
Market Growth Stratagems:
Key market players are focusing on constantly innovating their product offerings to meet the varied demands of clients. Manufacturers are investing in energy-efficient technologies, such as variable frequency drives (VFDs) and high-efficiency motors, to minimize energy consumption and reduce the carbon footprint associated with water pumping operations. This trend aligns with global efforts to achieve more sustainable water management practices.
For instance, KSB SE & Co. KGaA manufactured pumps in different material variants depending on the application that they will be used for, each pump can be individually adjusted to the specific requirements at the site. This is how KSB produces pumps with an outstanding service life, excellent efficiencies and, with that, low energy and life cycle costs.