Latin America Pumps Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Pumps Market Analysis
The Latin American pumps market is expected to register a CAGR of 5% during the forecast period. Increased expenditures in exploration and production operations by the region's oil and gas companies are expected to raise demand for pumps in the oil and gas sector. The growing amount of infrastructure modifications, such as modifying or installing new pipes, is expected to boost the market.
- Due to strict energy and environmental regulatory policies, the market is expected to grow during the forecast period. For instance, according to the International Energy Agency's 2014 policy, a motor-driven unit should ideally be designed to save 20-30% of energy.
- The growing number of construction projects for residential and commercial spaces in Latin America is a significant factor driving the need for pumps and supporting market growth. Apart from that, the increasing demand to supply water and enhance its pressure for various activities is predicted to increase the usage of pumps in multiple industries, including chemicals, metal production, marine, food and beverage, and others. In the long run, the growing demand from the industries indicated above would further drive the expansion of this market.
- Keeping in mind the dynamic requirement of the market, the manufacturers are also concentrating on introducing new products. However, new energy efficiency standards could demand manufacturers redesign pumps, which might be expensive and time-consuming, hindering market expansion.
- In 2020, the COVID-19 pandemic considerably affected the growth of the pumps market in Latin America, which halted operations and import-export activities. The market is predicted to grow modestly for the forecast period, with demand mostly coming from end-user industries, such as water and wastewater treatment and oil and gas.
Latin America Pumps Market Trends
Centrifugal Pump Segment to Own Significant Market Share
- A single-stage centrifugal pump has only one impeller installed inside it and is designed to provide a relatively low head or flow. Most of its uses are in slurry and sewage management in residential, commercial, and industrial areas. The total dynamic head (TDH) is the most suitable type for this centrifugal pump.
- There is only one impeller in this centrifugal pump. Maintenance is easy because of the uncomplicated design. This specific variety is widely used in low-pressure, high-flow systems. The ideal applications for this pump include high flow and low to moderate total dynamic head.
- The demand for single-stage pumps is anticipated to be driven by the dependability and low maintenance costs in applications with small dynamic heads, such as water pumping stations. Furthermore, rising infrastructure, solar power plant costs, and the developing residential sector in Latin America are driving the single-stage centrifugal pump market.
- According to BP, crude oil consumption in Latin America reached 6.49 million barrels per day in 2021. The rising need for crude oil is anticipated to fuel the demand for centrifugal pumps throughout Latin America.
Oil and Gas Segment to have a Significant Growth Rate
- Pumps are essential in the oil and gas industry. They are used to displace oil in several instances, such as inside oil drilling rigs and refineries. They are utilized for essential activities, such as injection, chemical transfers, gasoline transfers, and steam stripping. The oil and gas industry cannot function without specifically designed pumps.
- According to a January 2020 International Maritime Organization regulation, the rising demand for low-sulfur fuel would likely push large refiners to improve their current infrastructure. With refineries scheduled for restoration, the need for pumps is anticipated to rise in the coming years.
- The Latin American region (Chile, Guyana, Suriname, Brazil, Uruguay, Argentina, Guyana, Mexico, Bolivia, Colombia, Paraguay, Ecuador, Venezuela, and Peru ) continues to progress toward the usage of reduced sulfur gasoline. In January 2020, Argentina became one of the first countries to make headway toward this objective by distributing and commercializing Ultra Grado 3 gasoline with a maximum sulfur content of 10 ppm. Furthermore, by the beginning of January 2024, the country intends to reduce sulfur in the Super Grado 2 gasoline grade from 150 ppm to a maximum of 50 ppm.
- According to Baker Hughes, in December 2021, there were 143 active oil rigs in Latin America. Mexico recorded the highest number of active oil rigs, with 47 units, followed by Argentina's 43. The active rigs from this region drive the market of pumps.
Latin America Pumps Industry Overview
The Latin American Pumps Market is fragmented with prominent players, such as Baker Hughes Company, Ebara Corporation, ITT Inc., KSB SE & Co. KGaA, Ruhrpumpen Group, Schlumberger Ltd, Sulzer Ltd, Weir Group PLC, GRUNDFOS, and Wilo SE.
In October 2021, Wilo introduced the Wilo-Medana CH1-L, a non-self-priming multistage pump designed for industrial irrigation activities and potable water applications, such as water supplying and pressure boosting. With a stainless steel monobloc construction, threaded connection, and a single- or three-phase AC motor, the non-self-priming multistage pump delivered maximum hydraulic outputs. On the other hand, the single-phase AC motor featured built-in thermal motor protection and an automatic start.
In August 2021, Wilo launched the Wilo Actun-OPTI series of submersible solar electric pumps for groundwater extraction. Developed for construction service and water management applications, the pumps used solar energy to provide drinking water. Additionally, app-enabled remote monitoring of the Wilo-Actun OPTI-MS pump indicated that the pumps' functioning could be managed using a smartphone, even at a distance. The high-quality materials used in constructing the submersible pump ensure its long service life.
Latin America Pumps Market Leaders
Baker Hughes Company
Wilo SE
Sulzer Ltd
Ebara Corporation
KSB SE & Co. KGaA
*Disclaimer: Major Players sorted in no particular order
Latin America Pumps Market News
- February 2022: Baker Hughes expanded its presence in Guyana by establishing a new local supercenter for oilfield services and equipment. The supercenter, which covered more than 8 acres, aimed at serving regional clients and assisting Baker Hughes' South American localization initiatives.
- December 2021: Wilo introduced the Wilo-Atmos GIGA-B, a glanded pump with a monobloc design ideal for transferring water in various types of buildings. The pump had a lower lifecycle cost due to enhanced hydraulic efficiency and long service life due to the corrosion-resistant cataphoretic coating on all cast components. With the release of the Atmos GIGA-B, Wilo added another glanded pump series with cutting-edge technology under its belt.
Latin America Pumps Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope Of The Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes Products and Services
4.2.5 Intensity of Competitive Rivalry
4.3 Supply Chain Analysis
4.4 Government Policies And Regulations
5. MARKET DYNAMICS
5.1 Drivers
5.1.1 Increasing Demand for Efficient and Advanced Pumps
5.2 Restraints
5.2.1 Fluctuations in Raw Material Prices
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Centrifugal Pumps
6.1.2 Submersible Pumps
6.1.3 Turbine Pumps
6.1.4 Reciprocating Pumps
6.1.5 Piston Pumps
6.1.6 Diaphragm Pumps
6.1.7 Rotary Pumps
6.1.8 Other Types
6.2 By End-user Industry
6.2.1 Oil and Gas
6.2.2 Chemical Processing
6.2.3 Food and Beverage
6.2.4 Water and Wastewater
6.2.5 Construction
6.2.6 Other End-user Industries
6.3 By Country
6.3.1 Brazil
6.3.2 Mexico
6.3.3 Rest of Latin America
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Baker Hughes Company
7.1.2 Ebara Corporation
7.1.3 Ruhrpumpen Group
7.1.4 ITT Inc.
7.1.5 KSB SE & Co. KGaA
7.1.6 Schlumberger Ltd
7.1.7 Sulzer Ltd
7.1.8 GRUNDFOS
7.1.9 Weir Group PLC
7.1.10 Wilo SE
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Latin America Pumps Industry Segmentation
A pump is a device that lifts, transports, delivers, or compresses fluids or attenuates gases, often by suction, pressure or both. The study tracks the market based on the revenues generated through the sale of pumps by different vendors operating in the pump market.
The scope is limited to pumps classified into various types, such as Centrifugal Pumps, Submersible Pumps, Turbine Pumps, Reciprocating Pumps, Piston Pumps, Diaphragm Pumps, and Rotary Pumps, their usage across multiple industries, including Oil and Gas, Chemical Processing, Food and Beverage, Water and Wastewater, and Construction, and Country (Brazil, Mexico, and Rest of Latin America). The report also contains information related to various Latin American countries. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Centrifugal Pumps | |
| Submersible Pumps | |
| Turbine Pumps | |
| Reciprocating Pumps | |
| Piston Pumps | |
| Diaphragm Pumps | |
| Rotary Pumps | |
| Other Types |
| By End-user Industry | |
| Oil and Gas | |
| Chemical Processing | |
| Food and Beverage | |
| Water and Wastewater | |
| Construction | |
| Other End-user Industries |
| By Country | |
| Brazil | |
| Mexico | |
| Rest of Latin America |
Latin America Pumps Market Research FAQs
What is the current Latin America Pumps Market size?
The Latin America Pumps Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Latin America Pumps Market?
Baker Hughes Company, Wilo SE, Sulzer Ltd, Ebara Corporation and KSB SE & Co. KGaA are the major companies operating in the Latin America Pumps Market.
What years does this Latin America Pumps Market cover?
The report covers the Latin America Pumps Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Pumps Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Pumps Industry Report
Statistics for the 2024 Latin America Pumps market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Pumps analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
