Mechanical Pump Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

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.

Mechanical Pump Market Analysis

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.

Mechanical Pump Market Overview

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.

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Mechanical Pump Market: Strategic Insights

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Mechanical Pump Market Drivers and Opportunities

Increasing Energy Demands of Market Players to Favor 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.

Development in the Construction Sector

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.

Mechanical Pump Market Report Segmentation Analysis

Key segments that contributed to the derivation of the mechanical pump market analysis are stage, type, and application.

• Based on the stage, the mechanical pump market is divided into single stage and multi stage. The single stage segment held a larger market share in 2023.
• Based on the type, the mechanical pump market is divided into positive displacement and centrifugal pumps. The centrifugal pumps segment held a larger market share in 2023.
• Based on the application, the mechanical pump market is divided into industrial, commercial, and residential. The industrial segment held a larger market share in 2023.

Mechanical Pump Market  Share Analysis by Geography

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.

Mechanical Pump Market Regional Insights

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.

Mechanical Pump Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

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:

1. EBARA CORPORATION
2. Grundfos Holding A/S
3. KIRLOSKAR BROTHERS LIMITED
4. KSB SE & Co. KGaA
5. PLEUGER INDUSTRIES
6. Sulzer Ltd

Disclaimer: The companies listed above are not ranked in any particular order.

Mechanical Pump Market News and Recent Developments

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:

• EBARA Corporation Japan (EBARA) has acquired 100% equity in Hayward Gordon L.P. (Hayward Gordon). (Source: EBARA Corporation, Press Release, October 2022)
• Grundfos Holding A/S, a global leader in advanced pump solutions and water technology, today inaugurated its state-of-the-art plant in Serbia. (Source Grundfos Holding A/S, Press Release, September 2022)

Mechanical Pump Market Report Coverage and Deliverables

The “Mechanical Pump Market  Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Mechanical pump market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Mechanical pump market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Mechanical pump market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Mechanical Pump market
• Detailed company profiles