How Big is the Pump Market | Insights, Growth & Analysis 2031

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Code: MTA9124

Publication Date: Sep 2025

How Big is the Pump Market?

According to 6Wresearch internal database and industry insights, the Pump Market was estimated at USD 70 billion in 2024 and is projected to reach USD 115 billion by 2031, expanding at a CAGR of 7.8% during the forecast period 2025-2031.

Due to increasing demand in water and wastewater management with rising industrialization, and advancements in pump technologies, and growing adoption of energy-efficient solutions are all the main factors driven by the market.

Key Growth Drivers of the Pump Market

Rising demand for water supply and wastewater management systems
Increased adoption of energy-efficient pumps across industries
Technological advancements in centrifugal, diaphragm, and submersible pumps
Expanding industrialization and infrastructure projects
Growing need for chemical and food & beverage process pumps
Rising investments in automation and smart pump systems

Pump Market Trends

Pump Market is witnessing major growth with notable trends such as development of smart and IoT-enabled pumps for real-time monitoring. Integration with automation and process control systems is increasing. Adoption of energy-efficient and low-maintenance pumps is accelerating. Focus on corrosion-resistant and long-life materials is rising. Miniaturization of pumps for compact industrial applications is being observed. Enhanced performance pumps with higher flow rates and efficiency are emerging. Increasing use in renewable energy projects and irrigation is boosting demand. The trend toward predictive maintenance and digital twin technologies is shaping market adoption.

Emerging Developments in the Pump Market

Pump Market is evolving with innovations in variable frequency drives (VFD) and smart pump control systems. There is continuous research into new coatings and materials for increased durability. Manufacturers of pumps and suppliers of industrial automation are increasingly collaborating. The market is growing as a result of the expansion of water infrastructure projects. Pumps are becoming more common in chemical and pharmaceutical applications. In order to increase industrial efficiency, hybrid and multi-stage pumps are being developed. Innovations are being driven by a focus on lowering carbon emissions and energy use. Market expansion is being supported by an increase in maintenance solutions and aftermarket services.