According to the recent study the industrial pump and valve market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by rise in adoption of industrial pump in petrochemicals, chemicals, medical, and pharmaceutical industry, continuous technological advancements in pumps, increase in construction activities, and strong industrialization and rapid urbanization in emerging economies.
Browse 107 figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in industrial pump and valve market by product type (centrifugal, positive displacement, reciprocating, rotary and others), position (submersible and non-submersible), driving force (engine driven and electrical driven), end use (power generation, oil and gas, metal and mining, agriculture, building services, water and wastewater, and others) and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Centrifugal market is expected to remain the largest segment during the forecast period.”
Based on product type, the industrial pump and valve market is segmented into centrifugal, positive displacement, reciprocating, rotary and others. Lucintel forecasts that the centrifugal market is expected to remain the largest segment due to its wide utilization in several application, low maintenance and increasing construction activities.
“Within the industrial pump and valve market, the oil and gas segment is expected to remain the largest end use”
Based on end use the oil and gas segment is expected to witness the highest growth over the forecast period due to the growing demand for oil and gas in developing countries and increasing usage of industrial pump to evacuate toxic and flammable gases.
“Asia pacific will dominate the industrial pump and valve market in near future”
APAC will remain the largest region due to the significant investments in upstream oil and gas activities and increasing research and development activities for innovative products in the region.
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Major players of industrial pump and valve market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Flowserve Corporation, The Weir Group plc, Grundfos. KSB, ITT Inc, Sulzer,EBARA Corporation, Xylem are among the major industrial pump and valve providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/industrial-pump-and-valve-market.aspxor [email protected]