Global Heavy-duty Pumps Market

By Author: Rupali Dagade
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Global Heavy-Duty Pumps Market was valued at US$ xx Bn in 2019 and is expected to reach US$ 17.0 Bn by 2026, at a CAGR of 3.7%.
Global Heavy-Duty Pumps Market Introduction
A heavy-duty pump is an industrial pump that is used to efficiently transport highly viscous, corrosive, or abrasive materials like chemicals, sewage, crude oil, and others from one place to another. The capacity of these pumps to withstand temperatures of up to 400 degrees Celsius and pressures of up to 80 bar is the primary factor for their increased demand in industries. These pumps are used in a variety of industrial applications, including chemical transmission, oil and gas transmission, sewage transmission, and other heavy-duty applications.
Global Heavy-Duty Pumps Market Dynamics
Increasing demand for electricity and increased power usage around the world is driving up demand for these pumps, resulting in increased market growth. The increase in global oil consumption drives the oil and gas industry, which is expected to create opportunities for the heavy-duty pump market. The water and wastewater management industry has been ...
... fuelled by rapid urbanization and industrialization, which will indirectly boost the market for heavy duty pumps over the forecast period. Governments all over the world are investing in infrastructure projects to meet the demands of an ever-increasing population. In the last decade, water resource management has gotten a lot of attention around the world. Countries are trying to improve water resource management in order to meet the demand for water as the world's population grows. To remain ahead in the competitive market, manufacturers are implementing new tactics such as mergers and acquisitions and expanding their product portfolios. Caterpillar Inc., headquartered in the United States, was listed as the world's top heavy equipment maker, ahead of Sweden's Volvo Group and Illinois-based Deere & Company, with overall sales revenue of more than 50 billion dollars. Approximately 40% of the market for oil and gas pumps is controlled by key market players, thanks to their diverse product range. Market players' key strategies include new product releases, business and supply chain alliances, and strategic acquisitions. The increased rise in demand for oil as a result of rising population and industrialization has fueled demand for heavy duty pumps in the oil and gas industry for a variety of applications. The Sinopec Group, based in China, is one of the most profitable and largest oil and gas companies in the world. The corporation earned 394.5 billion dollars in sales in 2019. The business focuses on aspects of the oil and gas industry, including petroleum and petrochemical engineering ventures, oil and natural gas exploration and development, and storage and transportation. This rise in the oil & gas industry is indirectly impacting the growth of heavy-duty pumps market.
Global Heavy-Duty Pumps Market Segment Analysis
In 2019, the centrifugal pump segment dominated the pumps market in the oil and gas industry, with the largest market share of xx%. For processes involving low viscosity liquids and high flow speeds, centrifugal pumps are favored. Centrifugal pumps come in a number of shapes and sizes, and they're used in a wide range of applications. According to the World Health Organization (WHO), by 2026, half of the world's population will be living in water-stressed areas. As a result, water and wastewater treatment infrastructures are expected to grow dramatically in the coming years around the world. As a result, demand for centrifugal pumps is expected to rise in the forecast period. In the next five years, the industrial sector is expected to drive the majority of demand for centrifugal pumps, especially in the Asia Pacific, which is rapidly becoming the global economic growth centre in terms of both output and consumption. Apart from supplying primary energy, the oil and gas sector also assists in the provision of raw materials for a variety of industries, including petrochemicals, solvents, fertilizers, and many others. With an increasing population and rapid urbanization, demand for these products is expected to rise, prompting refiners to build new plants or expand existing ones. During the forecast period, the boom in the production of oil and gas infrastructure is expected to give the centrifugal pump segment a huge boost. Crude oil prices remained stable in 2019 below USD 70 per barrel, resulting in increased usage in the refinery and petrochemical sectors. Between 2019 and 2025, China is projected to account for the majority of the growth in crude oil refining in Asia-Pacific. By 2025, the nation is projected to account for 26.8% of the total refining expansion capacity in Asia-Pacific, up 1.77 per cent from 2018.
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Global Heavy-Duty Pumps Market Regional Insights
The market in the United States is estimated to be worth $xx billion, while China is expected to develop at xx% CAGR. Due to will demand for oil and gas, as well as fresh drinking water, North America and Europe have significant growth potential. Heavy-duty pumps have become more widely used as a result of rapid urbanization, population growth, and increased knowledge about water and wastewater management. The demand for heavy-duty pumps in the United States is expected to reach US$ xx billion by 2026. Among European nations, Germany is expected to rise at a CAGR of about 1.8%. China, the world's second-largest economy, is expected to hit a market size of US$3.5 billion by 2026, with a compound annual growth rate of 6.8% from 2020 to 2027. Due to the demand for food and beverage, as well as portable water, Asia-Pacific is expected to hold a large share of the global market. The demand in Asia-Pacific is expected to grow at the fastest rate of xx%. Japan and Canada are two other notable geographic markets, with forecasted growth rates of 1.0 per cent and 2.7 per cent, respectively, from 2020 to 2026.

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Global Heavy-Duty Pumps Market Report Scope: Inquire before buying
Global Heavy-Duty Pumps Market, by Region
• North America • Europe • South America • MEA • Asia Pacific
Global Heavy-Duty Pumps Market Key Players
• Alfa Laval • Gardner Denver, Inc. • EBARA Corporation • General Electric Company • ITT INC. • Grundfos • KSB SE & Co. • The Weir Group PLC • Sulzer Ltd. • The Weir Group PLC • Baker Hughes, a GE company • Ingersoll-Rand PLC • Metso Corporation • Xylem Inc. • Nikkiso

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