Water Pump Market Report: Size, Share, Recent Trends, Strategic Developments, Segmentation Analysis, and Evolving Opportunities, 2024-2030

Market Overview

The global water pump market will generate an estimated revenue of USD 61.6 billion in 2023 and demonstrate a CAGR of 8.4% during the forecast period (2024–2030), reaching USD 106.4 billion by 2030.

The major factors boosting this market are the rapid growth in the oil & gas industry, increase in the domestic use of these machines due to urbanization, technological advancements, and rise in the demand for them for agricultural and industrial purposes.

Electric Pumps Gaining Preference over Diesel Variants

The biggest trend in the water pump market is the replacement of diesel pumps with electric variants. The latter offer a higher pressure, are easy to maintain, and do not require fuel, which leads to the elimination of carbon emissions. These machines are also being equipped with intelligent features, usually in the form of sensors and controllers. Pump systems with IoT connectivity create a human–machine interface that enables a deeper look at how they are performing in real time, with less human labor.

Additionally, the players in the market are constantly striving to create systems that are more energy-efficient, without sacrificing quality or dependability. Thus, the manufacturing process has seen the integration of the computer modeling and 3D printing technologies in recent years.

Growing Importance of Pumps in Flood Control

Devastating situations arise when large residential and commercial areas are submerged in water as a result of floods. Brought on by a lot of rain or the collapse of a dam, floods affect the landscape and interfere with daily living. Nations suffer significant financial losses as a result. Thus far, 2023 has been a year of floods, with severe water damage being reported in Turkey, Libya, Hong Kong, Greece, Bulgaria, Spain, southern China, Taiwan, and even the U.S. In fact, eight catastrophic floods struck within just 12 days!

To reduce further environmental damage, electric current risks, and flood-borne diseases, such as diarrhea, hepatitis A and E, and dengue, it is important to hasten the recovery process. Water remains stranded for prolonged periods in localized areas due to heavy rainfall and poor drainage systems. Dewatering pumps play a crucial role in quickly removing water from flooded areas in these circumstances. The Flygt and Godwin series of portable drainage pumps from Xylem are designed with the goal of assisting in the fight against floodwaters.

Growing Need for Desalination Propelling Water Pump Demand

The majority of the water on Earth—97%—is salty. The average salt level is 3.5%, which is excessive both for human consumption and use in industry or agriculture. To make matters worse, the 3% freshwater supplies of the world are not only rare but also dispersed unevenly. The value of desalination has, thus, greatly increased as a result of the scarcity of natural resources. Pumps are integral to this process, be it any method, i.e., thermal desalination or reverse osmosis.

Saudi Arabia is the world leader in this way of producing freshwater. The Ras Al-Khair desalination facility, which is the biggest in the world, can produce 1.4 million cubic meters of freshwater per day. The process is especially important for Gulf countries, which are majorly desert and, thus, lack freshwater reserves other than oases and aquifers.

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Rising Demand in Agriculture sector

The total agricultural output of the world was beyond USD 4.20 trillion in 2019, rising significantly from USD 2.7 trillion in 2000. Many countries’ priority is agriculture, yet they encounter many difficulties, including a shortage of electricity and water resources. In order to address the massive need for irrigation, pumps are widely used to draw water from a running canal, river, pond, or under the ground.

Pumps are used in agriculture to irrigate land using sprinklers, floods, or micro-irrigation systems. Open-well, monobloc, and borewell pumps are used to draw water out of reservoirs. Their usage is especially high in rice growing areas, as it is a water-intensive crop, requiring 10 millimeters of water every day. This makes APAC a vast potential market for pumps, as all the five largest producers of paddy—China, India, Vietnam, Bangladesh, and Indonesia—are located here.

Booming Requirement in Oil & Gas Industry

The growing oil & gas sector is another major driver for the water pump market around the world. Here, these machines are extensively utilized in pipelines, pumping stations, cooling loops, heat exchanger circulation, cooling systems, water supply & drainage, hot water discharge, and cooling and refrigeration systems.

With the booming population, the need for transportation fuel, heat, and electricity continues to rise. Thus, in March 2023, ONGC, India’s largest oil & gas company, planned an investment of INR 2,700 crore for hydrocarbon exploration, in collaboration with ExxonMobil, TotalEnergies, Chevron, Equinor, and Shell.

Centrifugal Variants Have Larger Share

Between centrifugal and positive displacement, the former variants hold the larger share in the market. In the industrial sector, centrifugal pumps are frequently used for dewatering tasks at manufacturing facilities, sewage treatment facilities, water reclamation facilities, and oil & gas drilling sites. They help in the smooth handling of the water and do not have a leakage issue.

Additionally, water containing corrosive substances does not affect their efficiency. Moreover, modern centrifugal pumps can attain better efficiency because of developments in their design and technology, which leads to decreased energy consumption and lower operating costs. In this regard, the demand for centrifugal pumps is driven by the strengthening emphasis on energy efficiency and sustainability in industries.

Water & Wastewater Treatment Sector Is Key End User

Under the end user segment, the water & wastewater treatment category continues to hold a significant share. The world is concerned about water scarcity, and many countries have already started recycling and reusing this precious resource. Water reuse contracts are increasing in number because recycled water is less expensive than extracting the virgin resource from underground tables, rivers, ponds, and other sources.

Wastewater treatment plants have numerous systems with pumps. Pumping qualities that are crucial for operations here include the ability to handle water mixed with solids, manage varying viscosities, self-priming, and repeatability of flow.

APAC Stands as Highest Revenue Generator

APAC has the largest market share in 2023 because of its huge population, growing food demand, rampant urbanization, and generation of massive volumes of effluents every day.

Moreover, India is the world's third-largest coal producer. The Ministry of Energy India is planning to increase coal-fired generation capacity to meet the increasing power demand. Huge volumes of water are needed every day at thermal power plants for coal washing, equipment cooling, and many other processes.

Therefore, wastewater is treated to avoid freshwater depletion. APAC has many countries, including China, Japan, India, and South Korea, with high industrial outputs. Among them, China stands as the manufacturing superpower of the world. All industries need water pumps for various purposes, which will continue to propel the market over the forecast period.

Additionally, the European water pump market is expected to see significant growth in the forecast period, due to the rapid urbanization, depletion of water levels, and high consumer spending. Germany has been the largest contributor to the regional market till now, as it is the biggest manufacturing base in Europe.

Key Players in Water Pump Market Are:

• Ebara Corporation
• Flowserve Corporation
• ITT Corporation
• KSB Aktiengesellschaft
• The Weir Group PLC
• Grundfos Holding A/S
• Gardner Denver Inc.
• Torishima Pump Mfg. Co
• Sulzer Ltd.
• Kirloskar Brothers Limited
• Pedrollo SpA
• Atlas Copco Inc.
• Xylem Inc.
• General Electric