Global Water Pumps Market Research Report: Forecast (2024-2030)

Market Insights & Analysis: Global Water Pump Market (2024-30):

The Global Water Pump Market size was valued at around USD 45.95 billion in 2023 & is estimated to grow at a CAGR of around 4.72% during the forecast period, i.e., 2024-30. Growing urbanization in the different countries has led to the enlargement of towns as well as the migration of the population from rural to urban areas. There is extensive urbanization in developing regions which includes the Asia-Pacific, the Middle East, and the African region, because of which the development of residential & commercial spaces has grown more in these regions. Subsequently, enhancing the need for proper water supply & management.

As per the United Nations Conference on Trade and Development (UNCTAD), 57% of the total world population lived in urban areas in 2021, which is further expected to rise to nearly 68% by 2030, ultimately leading to the development of more commercial & residential construction in the coming years. Furthermore, there is a trend of smart cities in countries like Saudi Arabia, India, Egypt, and Singapore, where construction activity for commercial and residential developments is expected to rise in the coming years.

Moreover, several large-scale projects in the chemical, automotive, and packaging industries are scheduled to be completed in the future, increasing emerging countries' GDP contribution through industrial production. According to the Organization of Economic Cooperation and Development (OECD), the G20 economies, which account for around 85% of global GDP, increased manufacturing output in 2022 compared to 2015. Turkey, Russia, India, South Korea, and Indonesia's industrial production increased by approximately 46%, 21.2%, 18.9%, 17%, and 13.9%, respectively, over the years. The increase in manufacturing production, combined with global urban population growth, is drawing major new investment. Both new facilities and current ones should be improved by these improvements; thus, as a result, the demand for water pumps is expected to increase over the forecast period.

Global Water Pump Market Driver:

Extensive Growth of the Oil & Gas Industries Augmenting the Demand for Water Pumps –  The main sectors in the energy market and important players in the international economy, oil and natural gas, are the main suppliers of fuel worldwide. The International Labour Organisation estimates that the oil sector contributed 3% of GDP in 2020 and that crude oil commerce was worth USD 640 billion, making it one of the most traded commodities globally. For many industries, such as electricity generation, petrochemicals, transportation, etc., oil is an important energy source, which constantly raises demand for it. The continual rise in demand for oil as a critical energy source for a variety of industries, including power generation and transportation, has increased the demand for water pumps used in oil extraction and processing. Furthermore, the major participants in the oil and gas sectors have been presenting strategies to increase their production capacity by constructing new production bases or extending their existing oil manufacturing facilities. For instance,

• In 2023, Hindustan Petroleum Corp. (HPCL) announced plans to start a Barmer refinery and petrochemical project by 2024 in India to reduce petrochemical imports.

Further, the governments of countries such as Brazil, Guyana, etc., are also focusing on strengthening their energy security by planning to establish new oil & gas plants. Thus, the inception of new oil & gas industries to mitigate the reliance on other countries for oil & gas imports would further augment the size & volume of the Global Water Pump Market in the coming years.

Global Water Pump Market Opportunity:

Rising Commissioning of New Power Plants to Open New Doors for the Water Pump Industry – The global electricity demand continues to rise due to population growth, urbanization, and industrialization. This has led to the development of new power generation plants, which are constructed to meet this increasing energy demand and ensure a reliable electricity supply to homes, businesses, and industries. According to the International Energy Organization (IEA), global electricity demand is expected to rise by 25–30% in 2030. Hence, to cater to the growing electricity demand, the governments of countries such as India, the US, etc., have started commissioning new power plants that would generate the need for water pumps. Moreover, the increasing government's focus on renewable resources for power generation to minimize carbon emissions and the usage of sustainable solutions would generate demand for energy-efficient water solutions during the forecast period.

Global Water Pump Market Challenge:

Complex Integration of the Advanced Motor Pumps Limiting Market Growth & Expansion – Integrating IoT water pumps into existing infrastructure and control systems is challenging since it requires handling by the appropriate labor & digital solutions. Moreover, compatibility issues also arise when IoT pumps are unified with existing networks, software platforms, or data management systems. This creates additional complexities and costs for users, making adoption less appealing for consumers, thus limiting the sales of Internet of Things (IoT) water pumps in small-scale economies.

Further, IoT water pumps tend to have higher upfront costs than traditional water pumps due to the amalgamation of highly-priced sensors, communication modules, and advanced control systems. The higher price of the water pumps also causes apprehension among consumers, especially in price-sensitive markets such as India, Africa, etc., or for customers with limited budgets.

Global Water Pump Market Trend:

The Emergence of Smart Water Pumps to Augment Market Growth – Climate change and the wastage of water resources by water pump solutions pose a significant threat to water management systems. The depleting water table in countries worldwide has created a demand for intelligent solutions to address the water waste issue. Therefore, motor pump manufacturing companies such as Grundfos, Xylem, etc., have been offering end-consumers advanced water pump solutions. These solutions are equipped with advanced monitoring and control systems that optimize energy consumption.

Moreover, these intelligent pumps adjust their speed and operation based on real-time water demand, reducing energy waste and lowering electricity bills. Thus, end-user industries and consumers are gradually inclining towards intelligent water pump technology. Furthermore, smart water pump solutions provide cloud connectivity with digital services and offer high energy efficiency & low life-cycle costs, reducing complexity. Therefore, they are suitable for green buildings. Consequently, as smart cities are being developed across Asia, Europe, and the Middle East, the demand for intelligent water pump solutions is expected to increase during the forecast period. Ultimately, this will augment the size & volume of the Water Pump Industry globally.

Global Water Pump Market (2024-30): Segmentation Analysis

The Global Water Pump Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. Based on the analysis, the market has been further classified as:

Based on Type:

• Centrifugal Pumps
• Positive Displacement Pumps

Centrifugal pumps are high-speed pumps that cause the shearing of fluid, making them suitable for the transportation of low-viscosity materials. The centrifugal pumps segment holds a significant share globally due to their extensive uses in irrigation industries, fluid transportation in manufacturing units & factories, water supplies in residential & commercial spaces, firefighting vehicles, etc. The inflated scope of usage by a high number of end-users for water & fluid transportation has given centrifugal pumps numerous growth options in the Water Pump Industry worldwide.

The functioning of positive displacement pumps has a major demand coming from wastewater treatment plants & chemical manufacturing units, using them as a piece of critical equipment for transporting low- and high-viscosity fluids. As per the HydroSHED (World Wildlife Fund), there were about 140 under-construction wastewater treatment plants across the globe in 2022, with a total proposed disposal capacity of nearly 2.13 billion liters. With the upcoming installations of wastewater treatment plants across the globe, the demand for positive displacement water pumps would grow positively in the coming years.

Based on End User:

• Oil & Gas
• Power Generation
• Residential
• Agriculture & Irrigation
• Commercial Building
• HVAC
• Chemicals
• Water & Wastewater
• Food & Beverage
• Others

The power generation segment holds a significant market share due to the increasing demand for energy and the need for continuous power supply to cities and industrial units. Significant investments from both the private and public sectors in establishing new renewable power units have driven a global increase in the demand for water pumps. Moreover, among the various power types, nuclear & hydropower are two of the most prominently growing segments offering renewable & clean energy.

As per the International Energy Association, nuclear energy production grew by 2% (100 Tw/h) in 2021 from 2020 with the installation of seven new nuclear power plants in countries such as Japan, Slovakia, France, etc. Several countries have announced plans to build large-scale power plants in their respective categories, where populations are growing and power production is urgently needed. In 2021, the Government of India announced plans to build a total capacity of 22,480 MW of nuclear energy by 2031.

Apart from this, large-scale construction for other energy sources, such as hydropower, is also observed across the globe in line with the sustainable energy production plans in North America, Europe, and Asia-Pacific regions. Therefore, it is anticipated that the power generation segment would hold a strong position in the market in the coming years as well.

Global Water Pump Market (2024-30): Regional Projections

Geographically, the Global Water Pump Market expands across:

• Asia-Pacific
• North America
• South America
• Europe
• The Middle East & Africa

The Asia-Pacific region captured the largest share of the Global Water Pump Market because of sizable agricultural lands and a boom in the end-user industries, consisting of water & wastewater treatment and food & beverages, among others, which is augmenting the demand for water pumps in the region. Furthermore, the demand for clean energy has been appreciably growing in this region to decarbonize the numerous industrial sectors, such as fertilizers, power, oil & gas, etc., to reduce their import dependency on fossil fuels as a primary source of energy. Due to this, the countries are heavily investing in the establishment of renewable power projects across the region. In line with this, countries in Southeast Asian nations are aiming to drive around 23% of their overall energy from renewables by 2025. Thus, the improved efforts of the countries in the region to capitalize on opportunities from renewable energy to deliver energy security, accessibility, affordability, and sustainability in Asia-Pacific are predicted to augment the market size in Asia-Pacific during the forecast period.

Global Water Pump Industry Recent Development:

• 2023: WILO SE signed a MoU with the Ministry of Investment in Saudi Arabia to expand its presence in the Kingdom. As part of the agreement, the company aims to invest in an assembly facility that allows the company to assemble pumps & systems locally for the Saudi market, as well as grow its existing sales office into regional headquarters.
• 2023: KSB SE & Co. KGaA supplied wastewater pumps to the Bailonggang wastewater treatment plant in Shanghai, Asia's largest wastewater treatment plant. The company has supplied a total of 300 submersible pumps to the project to clean one-third of all the wastewater from a catchment area of over 270 km².
• 2023: Xylem Inc. acquired Evoqua Water Technologies, a leader in North American water treatment, by purchasing its all-stock value of USD 7.5 billion, aiming to tap into a growing global awareness of risks around water scarcity.
• 2023: Kirloskar Brothers Limited launched a new end suction pump, the DB xe, which offers world-class features to meet the global benchmark minimum efficiency index. Through this launch, the company aims to export the product into key international markets such as the UK, the USA, Africa, Southeast Asia, the Middle East, and countries in the Indian Subcontinent.

Gain a Competitive Edge with Our Global Water Pump Market Report

1. Global Water Pump Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Water Pump Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.