Market Size of Pump Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 110.22 Billion |
| Market Size (2029) | USD 131.56 Billion |
| CAGR (2024 - 2029) | 3.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pump Market Analysis
The Pump Market size is estimated at USD 110.22 billion in 2024, and is expected to reach USD 131.56 billion by 2029, growing at a CAGR of 3.60% during the forecast period (2024-2029).
- Over the long term, the increasing infrastructure development activities coupled with a rising emphasis on water and wastewater management are expected to drive the pumps market during the forecast period.
- On the other hand, volatility in raw material prices, such as steel, iron, and various metals, is expected to hinder the pumps market during the forecast period.
- Nevertheless, the rapid urbanization and industrialization in emerging economies present a substantial growth opportunity for pumps for water supply and industrial processes.
- Asia-Pacific is expected to dominate the market studied during the forecast period. This growth is attributed to increasing investments across end-use industries in the countries of this region, including India, China, and Japan.
