Multistage Pumps Market Size & Share, by Product Type (Horizontal, Vertical); Material (Stainless Steel, Cast Iron); Application (Reverse Osmosis, Boiler Feed, Heating/Cooling Conditioning, Irrigation, Water Treatment, Fire Fighting); End-Use Industry (Mining, Pulp & Paper, Agriculture, Thermal & Power Generation, Oil & Gas, Chemical, Water & Waste Water) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5515
  • Published Date: Jan 08, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Multistage Pumps Market size is projected to cross USD 17 billion by the end of 2036, expanding around 9% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of multistage pumps was over USD 8 billion. The growth of the market is projected to rise on account of rising construction activities. In 2016, there were predicted to be 794,431 built-up areas (BUAs) all across the globe. This figure has the potential to jump to about 849,406 people by 2022. Additionally, by 2050, it's anticipated that 2 million new buildings will be built. Therefore, the market demand for multistage pumps is surging. Pumps are frequently employed in the construction sector to remove sewage, oil, and sludge from foundation pits and tunnels.

Additionally, manufacturers that specialize in multistage pumps are offering an extensive selection of products in addition to accelerated customization. Customization has been stated to have emerged as a favored option among consumers, which is expected to propel the multistage pump market, as customer requirements have shifted from general to specialty applications.


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Multistage Pumps Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~9%

Base Year Market Size (2023)

~ USD 8 Billion

Forecast Year Market Size (2036)

~ USD 17 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Multistage Pumps Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Surge in Demand for Agriculture Food - There has been a surge in agriculture demand. However, farmers all across the world are facing a huge number of obstacles in their work, which include limited access to energy and water resources. Therefore, an ongoing supply of water is essential for effective agricultural irrigation, and agricultural pumps are constructed and incorporated as an element of the agricultural irrigation system to meet this requirement. These gadgets transfer liquids from one location to another using mechanical force. Pumping enables water to flow against gravity by moving it from a low-pressure area to a high-pressure one by raising the fluid's pressure. As with the growing demand for agricultural food, the demand for multistage pumps is surging.
  • Surge in Concern for Sewage Wate - Global sewage pollution simulations predict extensive surface water contamination, which is not surprising considering the volume and intensity of human waste entering streams. It is expected that wastewater generation is expected to increase by over 23% by 2020 and by an additional 50% by 2050. On the other hand, it is thought that around 79% of wastewater created globally is immediately released into water bodies without any appropriate treatment. As a result, regulations have been launched to meet the solution for the growing concern of sewage water. As a result, the demand for multistage pumps is growing.
  • Growing Demand for Energy Efficient Multistage Pumps  -Due to the ability to reach greater flow rates with less power, pumps with multiple stages can result in significant energy savings. Both individuals and companies may see a decrease in energy expenses as a result. Furthermore, the size of the motor required in multistage pumps is significantly smaller which is why there has been a growing preference for this. Additionally, the use of energy-efficient pumping systems is being encouraged by an array of policies and initiatives being implemented by governments and regulatory organizations, which will accelerate the multistage pumps market growth. 

Challenges

  • High Competition from Different Unauthorized Sectors - Leading producers are having to deal with fierce competition from unorganized vendors who offer cheap, low-quality goods. Local and grey market participants make up the unorganized sector. While grey market participants import and sell things illegally, local players make and sell products under their own brands. The pricing, competitiveness, and well-established local supply networks of these unorganized market participants give them an advantage over larger competitors which is difficult for global businesses to match. International companies have fewer options to grow their income and market share due to the rising sales produced by local and grey market businesses. International companies find it difficult to penetrate local markets as a result of this dynamic, which limits their investment in these regions.
  • Lack of Efficiency in Performance
  • High Price of Multistage Pumps  


Multistage Pumps Segmentation

Application (Reverse Osmosis, Boiler Feed, Heating/Cooling Conditioning, Irrigation, Water Treatment, Fire Fighting)

The water treatment segment in the multistage pumps market is projected to gather the highest share of about 30% over the forecast period. This growth of the market is estimated to be dominated by rising demand for water. By 2040, it will be projected that worldwide water consumption will amount to over 4,349 billion cubic meters of extraction. However, over two billion individuals reside in nations with insufficient water supplies. As early as 2025, half of the global population might reside in regions with limited access to water. As a result, the need to convert wastewater into consumable water is growing. Treatment of wastewater including industrial waste treatment makes sure that nothing is wasted from a product that might have been a complete waste. Centrifugal force is employed by this kind of pump to provide sufficient speed for moving liquids. Centrifugal pumps are used in municipal water systems to transfer wastewater, including influent, primary, and secondary sludge, as well as effluent, and then convert them into fresh water.

End Use Industry (Mining, Pulp & Paper, Agriculture, Thermal & Power Generation, Oil & Gas, Chemical, Water & Waste Water)

Multistage pumps market from the oil & gas segment is projected to gather the largest share of over 25% during the forecast period. The major element to influence the growth in the demand for oil & gas is the growing price for it. Owing to this, this sector is experiencing a significant uplift in investment by various organizations. This is why, the adoption of multistage pumps is also increasing. Furthermore, the has been a growing exploration of oil fields to satisfy the demand within the domestic borders to avoid exports. Therefore, with the expansion of the oil & gas segment, the market for multistage pumps is also growing.

Our in-depth analysis of the global multistage pumps market includes the following segments:

 Product Type

  • Horizontal
  • Vertical

Material

  • Stainless Steel
  • Cast Iron

Application

  • Reverse Osmosis
  • Boiler Feed
  • Heating/Cooling Conditioning
  • Irrigation
  • Water Treatment
  • Fire Fighting

End-Use Industry

  • Mining
  • Pulp & Paper
  • Agriculture
  • Thermal & Power Generation
  • Oil & Gas
  • Chemical
  • Water & Waste Water

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Multistage Pumps Industry - Regional Synopsis

APAC Market Forecast

The Asia Pacific multistage pumps market  is projected to generate the highest share of over 30% during the forecast period. This growth of the market in this region is set to be dominated by rising growth in demand for dewatering which is further boosting demand for pumps in the region. For many sectors, dewatering pumps are a vital part of machinery. Moreover, with the growth of metal mining and other activity, the market is growing in the Asia Pacific region. Additionally, there has been a surge in demand for distilled water in this region. Lead-acid batteries, medical equipment, car air conditioning, and other gadgets that might be harmed by mineral buildup are all sterilized with distilled water in this region. Therefore, the market is observing an upward moment in this region.

North American Market Analysis

The North America multistage pumps market is also projected to have significant growth during the forecast period. This could be on account of the growing demand for natural gas. In 2022, the United States' natural gas consumption reached over 31 trillion cubic feet. Compared to the previous years about 29 trillion cubic feet, this was a record high. Several North American nations have enacted or proposed decarbonization measures in an attempt to hasten the shift to a low-carbon economy. These policies are based on a variety of measures, including the implementation of net carbon-neutral clean energy standards, standards for renewable portfolios, economy-wide carbon reduction objectives, and technology usage mandates. As a result, the demand for natural gas is growing which is further projected to dominate the market growth in this region.

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Companies Dominating the Multistage Pumps Landscape

top-features-companies
    • Franklin Electric
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Atlas Copco Group
    • Shakti Pumps Ltd.
    • Aquasub Engineering
    • Castle Pumps
    • Sulzer Ltd.
    • VANSAN Water Technologies
    • Kirloskar Brothers Limited
    • Rovatti A. & Figli Pompe S.p.a.
    • GUANGDONG LINGXIAO PUMP INDUSTRY CO., LTD.

In-the-news

In The News

  • Franklin Electric's vertical multistage pumps now have an enhanced design. New components have significantly enhanced robustness and dependability. The pump is the perfect choice for any pressure-boosting application because of its improved design, which also includes lower noise emissions and easier handling due to a new cartridge mechanical seal.
  • Atlas Copco has consented to purchase Geveke B.V. and its subsidiaries as well as LEWA GmbH and its subsidiaries. Leading producer of process pumps, diaphragm metering pumps, and entire metering systems is LEWA.  Geveke designs sophisticated and intricate process pump installations in addition to distributing compressors. 

Author Credits:  Rushikesh, Richa Gupta


  • Report ID: 5515
  • Published Date: Jan 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are surge in demand for agriculture food, surge in concern for sewage water, and growing demand for energy efficient multistage pumps.

The market size of multistage pumps is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2024-2036.

The major players in the market are Franklin Electric, Atlas Copco Group, Shakti Pumps Ltd., Aquasub Engineering and others.

The oil & gas segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Multistage Pumps Market Report Scope
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