The Mechanical Pump market size is projected to reach US$ 82,621.49 million by 2031 from US$ 53,937.4 million in 2023. The market is expected to register a CAGR of 5.5% during 2023–2031. The growing advancement in farming technologies is likely to remain a key trend in the market.
Some of these stakeholders of the mechanical pump market include government agencies, industry associations, and regulatory bodies, among others, such as the Indian Pump Manufacturers’ Association (IPMA), British Pump Manufacturers’ Association (BPMA), Europump (the European Association of Pump Manufacturers), and Hydraulic Institute (HI), among others. End users of mechanical pumps include industries such as Chemicals, Oil and Gas, and Petrochemicals, Mining, Power Generation, Automotive, Agriculture, HVAC, and Wastewater Management, among others.
The key stakeholders in the global mechanical pump market ecosystem include mechanical pump manufacturers, government agencies, industry associations, regulatory bodies, suppliers/distributors, and end-users. Some of the key mechanical pump manufacturers included in this report are Grundfos Holding A/S, Kirloskar Brothers Limited, KSB SE & Co. KGaA, Ebara Corporation, Sulzer Ltd, Pleuger Industries, The Weir Group PLC, Wilo SE, Tsurumi Manufacturing Co., Ltd., and Xylem Inc. among many others. In addition to these key ecosystem players, several peripheral stakeholders in the global mechanical pump market play a vital role in allowing the adoption of these machines among end-users and promoting technology advancements for sustainable future growth of the market.
The growing energy demand and increasing requirement for uninterrupted energy supplies in the commercial and industrial sectors are pushing the demand for additional power infrastructure. Water plays a key role in the electricity generation in these plants, as it is converted into steam to propel the turbines. Mechanical pumps are used for circulating water in these power plants. Owing to the mounting in population, industrialization, and urbanization globally, especially in Asia Pacific, the demand for energy is increasing at a high pace. As a result, several fossil fuel-powered power plants are being deployed across the world. Moreover, power generation from renewable sources of energy is in a nascent stage and is majorly being emphasized in North America and Europe. Thus, the growing demand for energy, consequently escalating power generation activities, is boosting the mechanical pump market growth.
Several foreign players are relocating their manufacturing operations to developing countries in APAC to reap the benefits of low labor costs, which is further projected to propel industrial construction. Thus, with the steady rise in construction activities worldwide, the mechanical pump market is expected to grow further during the forecast period. The growth of this sector is majorly ascribed to the increasing urban population, backed by a rise in the standard of living. Also, the rise in commercial construction, such as recreational centers, cinema halls, shopping malls, hospitals, sporting arenas, and office buildings, is further propelling the proliferation of this sector. Emerging economies are taking various initiatives to boost industrialization by creating favorable business environments for international investors, alongside extending support for local manufacturing growth, which is projected to drive the demand for mechanical pumps over the forecast period.
Key segments that contributed to the derivation of the mechanical pump market analysis are stage, type, and application.
The geographic scope of the mechanical pump market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The scope of the mechanical pump market report encompasses North America (the US, Canada, and Mexico), Europe (Russia, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, India, Australia, Japan, China, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Argentina, Brazil, and the Rest of South & Central America). In terms of revenue, Asia Pacific dominated the mechanical pump market share in 2023. North America is the second-largest contributor to the global mechanical pump market, followed by Europe.
The regional trends and factors influencing the Mechanical Pump Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Mechanical Pump Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 53,937.4 Million |
| Market Size by 2031 | US$ 82,621.49 Million |
| Global CAGR (2023 - 2031) | 5.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Stage
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Mechanical Pump Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Mechanical Pump Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The mechanical pump market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the mechanical pump market are listed below:
The “Mechanical Pump Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific dominated the mechanical pump market in 2023.
The growing advancement in farming technologies is the future trend of the mechanical pump market.
Ebara Corporation, Kirloskar Brothers Limited, Grundfos Holding A/S, KSB SE & Co. KGaA, pleuger industries, Sulzer Ltd, The Weir Group PLC, WILO SE, Tsurumi Manufacturing Co., Ltd., and Xylem Inc. are some of the leading players in the market.
US$ 82,621.49 million estimated value of the mechanical pump market by 2031.
5.5% is the expected CAGR of the mechanical pump market.