Specialty Pumps Market Size, Trends and Insights By Type (Centrifugal, Reciprocating, Rotary, Diaphragm), By Application (Oil & Gas, Chemicals, Power, Water & Wastewater), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI27558

Published Date: August 2023

Pages: 220+

Category: Machinery & Equipment

Report Snapshot

CAGR: 4.9%
4.2B
2022
4.3B
2023
6.1B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Grundfos Holding A/S
  • Xylem Inc.
  • Flowserve Corporation
  • Sulzer Ltd.
  • The Weir Group PLC
  • Others

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Reports Description

As per the current market research conducted by CMI Team, the global Specialty Pumps Market is expected to record a CAGR of 4.9% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 4.2 billion. By 2032, the valuation is anticipated to reach USD 6.1 billion.

Specialty Pumps Specifications

Model  Description  Horsepower  Flow Rate
 SP-600  High-pressure pump for fire fighting  100 HP  1,000 gpm
 SP-700  Low-flow pump for medical use  5 HP  10 gpm
 SP-800  High-volume pump for sewage treatment  200 HP  10,000 gpm
 SP-900  Self-priming pump for flood control  150 HP  5,000 gpm
 SP-1000  Centrifugal pump for industrial use  100 HP  5,000 gpm
Source: According to CMI Market Research Team Analysis

The specialty pumps market refers to the global industry focused on the design, manufacturing, and distribution of specialized pumps for various applications such as industrial processes, healthcare, water treatment, and oil & gas. These pumps cater to specific needs, providing precise fluid handling, high-performance, and efficient solutions for diverse industries.

The specialty pumps market is characterized by constant innovation, driven by advancements in materials, design, and digitalization. Manufacturers continually strive to offer energy-efficient, smart, and environmentally friendly pump solutions to meet evolving customer demands.

Key trends in the specialty pump market include the integration of automation and Industry 4.0 concepts, the rising demand for sustainable and eco-friendly pump solutions, the adoption of digital technologies for remote monitoring and predictive maintenance, and the focus on meeting the challenges posed by water scarcity and wastewater management.

Specialty Pumps Market – Significant Growth Factors

The Specialty Pumps Market presents significant growth opportunities due to several factors:

  • Sustainable and Energy-Efficient Solutions: There is a growing demand for eco-friendly specialty pumps that promote energy efficiency and minimize environmental impact. Manufacturers are developing pumps with advanced materials and designs to meet sustainability goals across industries.
  • Digitization and Automation: The adoption of digital technologies and automation is on the rise, leading to the integration of Industry 4.0 concepts in specialty pumps. Automated pump systems and data-driven decision-making improve accuracy, reliability, and overall system performance.
  • Focus on Water Management: Water scarcity and wastewater treatment concerns are driving the demand for specialty pumps in water management applications. Pumps designed for desalination, sewage treatment, and water recycling play a critical role in sustainable water management.
  • Healthcare Sector: The healthcare industry presents opportunities for specialty pump manufacturers. Pumps used in medical devices, pharmaceutical processes, and drug delivery systems are essential components of healthcare technologies.
  • Industrial Automation: With the growing emphasis on industrial automation, there is an opportunity for specialty pumps to support automated processes in manufacturing, robotics, and process control applications. Smart pumps with real-time monitoring capabilities can enhance industrial automation efficiency and productivity.
  • Smart and Connected Pumps: The market is witnessing a trend towards smart and connected pumps equipped with sensors and IoT capabilities. These pumps enable remote monitoring, predictive maintenance, and real-time data analytics, enhancing operational efficiency and reducing downtime.

Specialty Pumps Market – Mergers and Acquisitions

The Specialty Pumps Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Specialty Pumps Market include:

  • Weir Minerals and XMPro: In 2022, Weir Minerals has announced a new partnership with XMPro, a leading digital twin platform. The partnership will enable intelligent equipment and services and support miners to achieve higher performance while also reducing the environmental footprint of their operations.
  • Grundfos and Augury: In 2018, Grundfos, a leading pump manufacturer, partnered with Augury, an AI-based predictive maintenance platform. This collaboration aimed to enhance Grundfos’ smart pump capabilities by integrating Augury’s advanced machine learning and IoT technologies for real-time monitoring and predictive maintenance solutions.
  • Xylem and Esri: In 2021, Xylem a global water technology company, collaborated with Esri, a GIS (Geographic Information System) software provider. This partnership aimed to integrate Xylem’s pump performance data with Esri’s mapping and analytics platform, enabling better insights into water infrastructure and optimizing pump operations in various water management applications.
  • Dover’s Acquisition of All-Flo Pump Company: In 2019, Dover Corporation, a diversified industrial manufacturer, acquired All-Flo Pump Company, a manufacturer of specialty air-operated double-diaphragm (AODD) pumps. The acquisition allowed Dover to strengthen its position in the specialty pumps market and broaden its product offerings for various industrial applications.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Specialty Pumps Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Specialty Pumps Market Cryostat Market Home Heating Services Market
CAGR 4.9% (Approx) CAGR 5% (Approx) CAGR 5.1% (Approx)
USD 6.1 Billion by 2032 USD 3.1 Billion by 2030 USD 7.3 Billion by 2032

Specialty Pumps Market – Significant Threats

The Specialty Pumps Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Intense Competition: The market faces fierce competition from numerous pump manufacturers, both established players and emerging companies. Intense competition can lead to price pressures and reduced profit margins for specialty pump suppliers.
  • Economic Uncertainty: Economic downturns and fluctuations can impact industrial activities and investment in infrastructure projects, affecting the demand for specialty pumps. Uncertain economic conditions may lead to deferred capital expenditures and lower market demand.
  • Environmental Regulations: Increasingly stringent environmental regulations and sustainability demands can challenge specialty pump manufacturers. Moreover, Specialty pump manufacturers face supply chain disruptions due to factors such as natural disasters, geopolitical tensions, or unexpected events like the COVID-19 pandemic.
  • Technological Disruptions: Rapid advancements in pump technologies can pose a threat to companies that fail to keep up with the latest innovations. Manufacturers must continually invest in research and development to offer cutting-edge solutions and remain competitive.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 4.3 Billion
Projected Market Size in 2032 USD 6.1 Billion
Market Size in 2022 USD 4.2 Billion
CAGR Growth Rate 4.9% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Type, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
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Category-Wise Insights

By Type:

  • Centrifugal Pumps: Centrifugal pumps utilize rotational energy to move fluids, converting kinetic energy into pressure. These pumps are extensively employed in industrial applications due to their notable efficiency and easy maintenance. Within the Specialty Pumps Market, the current trend for centrifugal pumps focuses on improving efficiency and performance through material and design advancements. Additionally, there is a growing integration of smart technologies for real-time monitoring and predictive maintenance, enhancing pump operations.
  • Reciprocating Pumps: Reciprocating pumps operate using a back-and-forth motion, drawing in and discharging fluid through a piston or diaphragm. These pumps are suitable for high-pressure and precise applications. The market trend for reciprocating pumps involves the development of high-pressure and precision models to cater to demanding applications in industries such as oil & gas and chemical processing.
  • Rotary Pumps: Rotary pumps use rotary motion to move fluid, featuring gears, lobes, or vanes. They offer smooth and continuous fluid transfer, making them popular in various industries. In the Specialty Pumps Market, the trend for rotary pumps includes the introduction of energy-efficient and self-priming models to improve fluid handling efficiency and reduce operational costs.
  • Diaphragm Pumps: Diaphragm pumps use a flexible diaphragm to displace fluid, providing leak-free operation and suitability for handling corrosive and abrasive substances. The market trend for diaphragm pumps involves the integration of advanced materials and digital control systems for precise and reliable fluid transfer, particularly in medical and pharmaceutical applications.

By Application

  • Oil & Gas: Specialty pumps are of utmost importance in the oil & gas industry, where they fulfill roles in applications such as well stimulation, oil refining, and pipeline transport. The ability to handle fluids with precision and maintain reliability is paramount for these processes, ensuring smooth operations and optimal production output in the challenging and dynamic environment of the oil & gas sector.
  • Chemicals: In the chemical sector, specialty pumps hold a significant position as they provide accurate metering, secure transfer, and safe handling of aggressive or hazardous chemicals. These pumps are specially designed with robust materials and seal systems to withstand corrosive and toxic substances, ensuring seamless and efficient chemical handling throughout various manufacturing processes.
  • Power: Specialty pumps play a crucial role in power generation plants, where they are utilized in pivotal applications such as boiler feedwater, cooling water circulation, and ash handling. The adaptability to handle high temperatures, corrosive fluids, and challenging operating conditions is essential to ensure smooth and reliable power production in power plants, promoting environmental compliance and sustainable energy practices.
  • Water & Wastewater: In the water & wastewater sector, specialty pumps are indispensable for crucial processes, including desalination, sewage treatment, and water distribution. Given the pressing concerns surrounding water scarcity and environmental impact, these pumps are key players in addressing these challenges by efficiently managing water resources, ensuring proper wastewater treatment, and supporting sustainable water distribution systems.

Global Specialty Pumps Market 2023–2032 (By Billion)

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Specialty Pumps Market – Regional Analysis

The Specialty Pumps Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, the specialty pumps market is witnessing a growing demand for smart pumps with advanced automation and connectivity features. IoT-enabled pumps are becoming increasingly popular, enabling real-time monitoring and predictive maintenance. There is a rising focus on energy-efficient and sustainable pump solutions, driven by environmental regulations and industry initiatives to reduce carbon footprint. Some of the key players dominating the specialty pumps market in North America include Xylem Inc., Flowserve Corporation, and IDEX Corporation. These companies have a strong presence in the region and offer a wide range of specialty pump solutions for various industries.
  • Europe: In Europe, the specialty pumps market is experiencing a trend towards digitization and the integration of Industry 4.0 concepts. Manufacturers are developing smart pumps with data analytics capabilities, enhancing pump performance, and optimizing energy consumption. Eco-friendly and energy-efficient pump solutions are gaining traction in Europe, as the region places a significant emphasis on sustainability and environmental protection. Prominent players dominating the specialty pumps market in Europe include Grundfos Holding A/S, KSB SE & Co. KGaA, and Wilo SE. These companies have established themselves as leading pump manufacturers in Europe, offering innovative and sustainable pump solutions.
  • Asia-Pacific: The Asia-Pacific region is experiencing an increasing uptake of specialty pumps in diverse industrial applications, fuelled by rapid industrialization and urban development. Additionally, the market is witnessing a notable rise in demand for specialty pumps utilized in water management applications. With water scarcity challenges prevalent in the region, there is a strong focus on conserving water resources, leading to a growing demand for pumps designed to address water management and distribution needs. The Asia-Pacific specialty pumps market is dominated by companies like Ebara Corporation, Tsurumi Manufacturing Co., Ltd., and Weir Group PLC. These companies have a strong presence in the region and offer a wide range of pumps catering to diverse applications.
  • LAMEA (Latin America, Middle East, and Africa): In LAMEA, the specialty pumps market is seeing increased demand for pumps used in the oil & gas sector, particularly for oilfield exploration and production applications. The region is witnessing a rising focus on specialty pumps for wastewater treatment and water distribution systems to address water scarcity and environmental concerns. In the LAMEA region, dominant players in the specialty pumps market include Sulzer Ltd., Tsurumi Manufacturing Co., Ltd., and Grundfos Holding A/S. These companies have a significant market presence and offer specialized pump solutions for various industries in the region.

Global Specialty Pumps Market 2023–2032 (By Type)

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Competitive Landscape – Specialty Pumps Market

The Specialty Pumps Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • Grundfos Holding A/S
  • Xylem Inc.
  • Flowserve Corporation
  • Sulzer Ltd.
  • The Weir Group PLC
  • KSB SE & Co. KGaA
  • Ebara Corporation
  • IDEX Corporation
  • Wilo SE
  • Tsurumi Manufacturing Co. Ltd.
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New players entering the specialty pumps market are adopting innovation and development strategies to establish their presence. These companies are investing in research and development to offer technologically advanced and energy-efficient pump solutions, gaining a competitive edge.

While emerging players contribute to market diversification, key players dominate the market with established market shares, extensive product portfolios, and strong global distribution networks. Dominating market players such as Grundfos Holding A/S, Xylem Inc., and KSB SE & Co. KGaA have long-standing reputations and a history of delivering reliable specialty pumps, making them preferred choices for customers across various industries.

The Specialty Pumps Market is segmented as follows:

By Type

  • Centrifugal
  • Reciprocating
  • Rotary
  • Diaphragm

By Application

  • Oil & Gas
  • Chemicals
  • Power
  • Water & Wastewater

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Specialty Pumps Market, (2023 – 2032) (USD Billion)
    • 2.2 Global Specialty Pumps Market : snapshot
  • Chapter 3. Global Specialty Pumps Market – Industry Analysis
    • 3.1 Specialty Pumps Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Sustainable and Energy-Efficient Solutions
      • 3.2.2 Digitization and Automation
      • 3.2.3 Focus on Water Management
      • 3.2.4 Healthcare Sector
      • 3.2.5 Industrial Automation
      • 3.2.6 Smart and Connected Pumps.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Specialty Pumps Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Specialty Pumps Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Specialty Pumps Market – Type Analysis
    • 5.1 Global Specialty Pumps Market overview: By Type
      • 5.1.1 Global Specialty Pumps Market share, By Type, 2022 and 2032
    • 5.2 Centrifugal
      • 5.2.1 Global Specialty Pumps Market by Centrifugal, 2023 – 2032 (USD Billion)
    • 5.3 Reciprocating
      • 5.3.1 Global Specialty Pumps Market by Reciprocating, 2023 – 2032 (USD Billion)
    • 5.4 Rotary
      • 5.4.1 Global Specialty Pumps Market by Rotary, 2023 – 2032 (USD Billion)
    • 5.5 Diaphragm
      • 5.5.1 Global Specialty Pumps Market by Diaphragm, 2023 – 2032 (USD Billion)
  • Chapter 6. Global Specialty Pumps Market – Application Analysis
    • 6.1 Global Specialty Pumps Market overview: By Application
      • 6.1.1 Global Specialty Pumps Market share, By Application, 2022 and 2032
    • 6.2 Oil & Gas
      • 6.2.1 Global Specialty Pumps Market by Oil & Gas, 2023 – 2032 (USD Billion)
    • 6.3 Chemicals
      • 6.3.1 Global Specialty Pumps Market by Chemicals, 2023 – 2032 (USD Billion)
    • 6.4 Power
      • 6.4.1 Global Specialty Pumps Market by Power, 2023 – 2032 (USD Billion)
    • 6.5 Water & Wastewater
      • 6.5.1 Global Specialty Pumps Market by Water & Wastewater, 2023 – 2032 (USD Billion)
  • Chapter 7. Specialty Pumps Market – Regional Analysis
    • 7.1 Global Specialty Pumps Market Regional Overview
    • 7.2 Global Specialty Pumps Market Share, by Region, 2022 & 2032 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Specialty Pumps Market, 2023 – 2032 (USD Billion)
        • 7.3.1.1 North America Specialty Pumps Market, by Country, 2023 – 2032 (USD Billion)
    • 7.4 North America Specialty Pumps Market, by Type, 2023 – 2032
      • 7.4.1 North America Specialty Pumps Market, by Type, 2023 – 2032 (USD Billion)
    • 7.5 North America Specialty Pumps Market, by Application, 2023 – 2032
      • 7.5.1 North America Specialty Pumps Market, by Application, 2023 – 2032 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Specialty Pumps Market, 2023 – 2032 (USD Billion)
        • 7.6.1.1 Europe Specialty Pumps Market, by Country, 2023 – 2032 (USD Billion)
    • 7.7 Europe Specialty Pumps Market, by Type, 2023 – 2032
      • 7.7.1 Europe Specialty Pumps Market, by Type, 2023 – 2032 (USD Billion)
    • 7.8 Europe Specialty Pumps Market, by Application, 2023 – 2032
      • 7.8.1 Europe Specialty Pumps Market, by Application, 2023 – 2032 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Specialty Pumps Market, 2023 – 2032 (USD Billion)
        • 7.9.1.1 Asia Pacific Specialty Pumps Market, by Country, 2023 – 2032 (USD Billion)
    • 7.10 Asia Pacific Specialty Pumps Market, by Type, 2023 – 2032
      • 7.10.1 Asia Pacific Specialty Pumps Market, by Type, 2023 – 2032 (USD Billion)
    • 7.11 Asia Pacific Specialty Pumps Market, by Application, 2023 – 2032
      • 7.11.1 Asia Pacific Specialty Pumps Market, by Application, 2023 – 2032 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Specialty Pumps Market, 2023 – 2032 (USD Billion)
        • 7.12.1.1 Latin America Specialty Pumps Market, by Country, 2023 – 2032 (USD Billion)
    • 7.13 Latin America Specialty Pumps Market, by Type, 2023 – 2032
      • 7.13.1 Latin America Specialty Pumps Market, by Type, 2023 – 2032 (USD Billion)
    • 7.14 Latin America Specialty Pumps Market, by Application, 2023 – 2032
      • 7.14.1 Latin America Specialty Pumps Market, by Application, 2023 – 2032 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Specialty Pumps Market, 2023 – 2032 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Specialty Pumps Market, by Country, 2023 – 2032 (USD Billion)
    • 7.16 The Middle-East and Africa Specialty Pumps Market, by Type, 2023 – 2032
      • 7.16.1 The Middle-East and Africa Specialty Pumps Market, by Type, 2023 – 2032 (USD Billion)
    • 7.17 The Middle-East and Africa Specialty Pumps Market, by Application, 2023 – 2032
      • 7.17.1 The Middle-East and Africa Specialty Pumps Market, by Application, 2023 – 2032 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Grundfos Holding A/S
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Xylem Inc.
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Flowserve Corporation
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Sulzer Ltd.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 The Weir Group PLC
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 KSB SE & Co. KGaA
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Ebara Corporation
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 IDEX Corporation
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Wilo SE
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Tsurumi Manufacturing Co. Ltd.
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Others.
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
List Of Figures

Figures No 1 to 22

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Grundfos Holding A/S
  • Xylem Inc.
  • Flowserve Corporation
  • Sulzer Ltd.
  • The Weir Group PLC
  • KSB SE & Co. KGaA
  • Ebara Corporation
  • IDEX Corporation
  • Wilo SE
  • Tsurumi Manufacturing Co. Ltd.
  • Others

FAQs

The key factors driving the Market are Sustainable and Energy-Efficient Solutions, Digitization and Automation, Focus on Water Management, Healthcare Sector, Industrial Automation And Smart and Connected Pumps.

The “Type” category dominated the market in 2022.

The key players in the market are Grundfos Holding A/S, Xylem Inc., Flowserve Corporation, Sulzer Ltd., The Weir Group PLC, KSB SE & Co. KGaA, Ebara Corporation, IDEX Corporation, Wilo SE, Tsurumi Manufacturing Co. Ltd., Others.

“Europe” had the largest share in the Specialty Pumps Market.

The global market is projected to grow at a CAGR of 4.9% during the forecast period, 2023-2032.

The Specialty Pumps Market size was valued at USD 4.2 Billion in 2022.

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