Pumps Market Size, Share, Growth, Trends, and Global Industry Analysis: By Pump Type (Centrifugal Pumps and Positive Displacement Pumps), By Shaft Orientation (Horizontal and Vertical), By Driving Force (Electric-Driven, Engine-Driven, Pneumatic/Air-Operated, and Solar-Powered), By End-User (Agriculture, Water & Wastewater, Mining, Oil & Gas, Infrastructure Application, and Others), and Region 2020-2031

Pumps Market size was valued at US$ 59,799.6 million in 2024 and is expected to reach US$ 84,706.6 million by 2031, growing at a significant CAGR of 5.1% from 2025-2031. Moreover, the U.S. Pumps Market is projected to grow significantly, reaching an estimated value of US$ 26,428.5 Million by 2031. The market is dedicated to the production, sale, and application of mechanical devices designed to move fluids (liquids or gases) from one location to another by converting various forms of energy into hydraulic energy. The market is witnessing steady growth, primarily driven by increasing demand from the water and wastewater treatment sector.

Rapid urbanization, industrialization, and stricter environmental regulations are prompting large-scale infrastructure investments, especially in developing regions. Pumps play a crucial role in ensuring the efficient movement and treatment of water, making them indispensable across municipal and industrial projects. A key trend transforming the market is the widespread adoption of industrial automation and smart pump technologies. These solutions, integrated with IoT and remote monitoring systems, enhance energy efficiency and enable predictive maintenance, aligning with global Industry 4.0 initiatives.

The most promising opportunity lies in the development of energy-efficient, intelligent pumping systems supported by variable frequency drives and advanced diagnostics. This shift is also gaining traction through government incentives promoting sustainability and carbon reduction. Additional opportunities include solar-powered agricultural pumps and customized systems for niche sectors like food processing and pharma. However, growth is restrained by the high installation and maintenance costs of advanced systems, which can be a barrier in price-sensitive industries. Challenges such as supply chain disruptions, raw material cost volatility, and slower replacement cycles in mature regions further temper the market’s pace. Still, innovation and policy support continue to make this a highly dynamic and evolving industry.

Facts & Figures

• Rising Demand from Water and Wastewater Treatment: Growing urban populations and industrial waste generation are pressuring governments and utilities to invest in large-scale water purification and recycling systems. Pumps are critical in every stage of water transport and treatment. For instance, the U.S. EPA allocated over $50 billion for water infrastructure under the Bipartisan Infrastructure Law (2022-2026), driving demand for high-performance pumps in municipal and industrial water projects.
• Growth in Oil & Gas and Chemical Processing Industries: These industries require robust, corrosion-resistant, and high-capacity pumps for fluid handling, chemical dosing, and safety-critical operations, sustaining demand despite energy transition efforts. For instance, in 2025, Aramco approved a $25 billion expansion of refining and petrochemical capacity, with large tenders issued for industrial pumps in high-temperature and hazardous fluid applications.
• Agricultural Electrification and Irrigation Modernization: Farmers are shifting from diesel to electric or solar-powered pumps to reduce costs and improve water usage, especially in water-stressed regions. For instance, the Indian government’s PM-KUSUM scheme aims to deploy over 2 million solar-powered irrigation pumps, accelerating rural pump market penetration in Asia-Pacific.
• Surge in Infrastructure and Construction Projects: Global infrastructure programs, focused on smart cities, renewable energy, and public utilities, are creating consistent demand for pumps in HVAC, drainage, and plumbing systems. For instance, India’s National Infrastructure Pipeline (NIP) allocates over $1.4 trillion through 2025, driving demand for construction-related pump systems in both urban and rural infrastructure.

Key Developments:

• In June 2025, Chart and Flowserve agreed to a $19?billion all-stock merger, forming a combined fluid and gas technologies leader. Expected synergies of $300?million over three years enhance competitiveness.
• In June 2025, Dover enhanced its hygienic pump offerings with its acquisition of ipp Pump Products GmbH, strengthening its Pump Solutions Group especially for food, pharma, and sanitary applications.
• In March 2025, Honeywell completed a $2.16-$2.2?billion all?cash deal for Sundyne to strengthen its energy and petrochemical division. The acquisition adds highly engineered pumps and compressors, targeting immediate earnings growth.
• In January 2025, backed by Bessemer Investors, Tencarva Machinery acquired Detroit Pump & Mfg to reinforce its distribution and servicing presence in the U.S. Midwest.

Pumps Market Segmentation:

Based on the pump type:

• Centrifugal Pumps
  • Single Stage
  • Multistage
  • Radial Flow Pump
  • Mixed Flow Pump
  • Axial Flow Pump
• Positive Displacement Pumps
  • Rotary Pump
  • Reciprocating

Centrifugal pumps hold the largest market share in the market. Their dominance is attributed to their simple design, cost-effectiveness, and wide applicability across industries such as water and wastewater treatment, HVAC, power generation, and agriculture. Centrifugal pumps are ideal for handling large volumes of low-viscosity fluids and are favored for continuous operation in municipal and industrial settings. Their ease of maintenance and energy efficiency make them the preferred choice in both developed and emerging economies. In contrast, positive displacement pumps occupy a smaller share due to higher costs and limited usage in high-volume flow scenarios.

Based on the shaft orientation:

• Horizontal
• Vertical

The horizontal pumps hold the largest market share in the market. Their compact design, ease of installation, and lower maintenance requirements make them highly suitable for a wide range of applications, including water supply, industrial processing, and HVAC systems. Horizontal pumps are preferred in sectors where floor space is available and routine servicing is frequent, such as manufacturing plants and utilities. Their widespread availability and lower initial costs further support their dominance in both commercial and municipal use. On the other hand, vertical pumps, while essential for deep wells, sumps, and high-pressure applications, hold a smaller market share due to higher installation complexity and limited use in space-constrained environments.

Based on the driving force:

• Electric-driven
• Engine-driven
• Pneumatic/Air-operated
• Solar-powered

Based on the driving force, electric-driven pumps dominate the market due to their high energy efficiency, consistent performance, and compatibility with automation systems. These pumps are widely used across industrial, municipal, and commercial sectors where a stable electricity supply is available. Their ability to integrate with smart controls and variable frequency drives (VFDs) also makes them ideal for energy-conscious applications. As the world transitions toward electrification and digitalization, the preference for electric-driven systems continues to grow. In contrast, solar-powered pumps, while gaining traction in agriculture and remote regions due to government incentives and sustainability goals, still hold the smallest market share because of their dependency on sunlight, high initial setup costs, and limited use in high-flow situations.

Based on the end-user:

• Agriculture
• Water & Wastewater
• Mining
• Oil & Gas
• Infrastructure Application
• Others

The water & wastewater treatment holds the largest market share in the market, driven by rising urban populations, aging municipal infrastructure, and stricter environmental regulations that require advanced pumping systems for water purification, sewage management, and flood control. Pumps are essential for water intake, chemical dosing, sludge handling, and discharge operations in both municipal and industrial settings. Governments worldwide are investing heavily in water security and sustainable infrastructure, further fueling growth in this segment. In contrast, infrastructure applications like Horizontal Directional Drilling (HDD) currently hold the smallest market share due to their specialized use and limited scale compared to other major sectors.