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
Market Size Value in US$ 49,639.6 million in 2021 Market Size Value by US$ 72,732.2 million by 2028 Growth rate CAGR of 5.6% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Mechanical Pump Market: Strategic Insights
| Market Size Value in | US$ 49,639.6 million in 2021 |
| Market Size Value by | US$ 72,732.2 million by 2028 |
| Growth rate | CAGR of 5.6% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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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 Report Scope
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Stage, Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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