North America Pumps Market size surpassed USD 13.8 billion in 2019 and is set to exhibit a CAGR of 2.3% between 2020 and 2026.
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The market growth is driven by increasing government policies toward augmented investments in building and construction of water treatment plants that will spur benefits for better access of sanitation systems and water supply. This has resulted in the growing utilization of pumps across different end-user industries such as wastewater treatment plants, chemical, oil & gas, and general industries such as food & beverages, pulp & paper manufacturing, power generation, and mining. In addition, the increasing amount of wastewater treatment facilities is largely due to the escalating demand for desalination purposes, flood control, and primarily for clean water in domestic as well as industrial applications. The growing awareness of the importance of water reuse owing to the decreasing level of ground water across the region has propelled the deployment of pumps as the development of water and wastewater infrastructure is anticipated to increase in near future.
Flourishing infrastructural developments and installation of new industrial plants in the developing markets are in favor of modern, state-of-the-art technology. In addition, factors such as technological advancements in the manufacturing of pumps, which require combination of computer modelling combined with 3D printing technology has led to a cutting-edge advancement in design of the pump, its repairing and replacement. Significant development in the North America construction industries along with industrial developments in the region will play major roles in the industry growth over the coming years.
However, maintenance and operational costs of pumps can affect the growth of the product market. As pumps are specialized machines, they require a specific skill set for successful and efficient operation. Moreover, pumps are associated with high installation and maintenance costs.
North America Market, By Product
The stationary pump segment accounted for 80% North America pumps market share in 2019, due to their mobility in the region.
North America Market, By Position
The pumps market is further categorized on the basis of position into submersible pumps and non-submersible pumps. Non-submersible pumps are gaining acceptance over submersible types owing to various properties involving lesser wear & tear, higher efficiency, and easier maintenance.
North America Market, By Driving Force
On the basis of driving force, the market is categorized into engine-driven pumps and electrical-driven pumps. Engine-driven pumps gather their power from a portable operating engine, which generally uses petrol or diesel as a fuel.
North America Pumps Market, By Technology
According to technology, centrifugal pumps are used in many construction and water system applications, in addition to dewatering.
North America Market, By Application
The application segment consists of mining, building & construction, oil & gas, industrial, municipal, and others. The others segment includes pumps for domestic use, agriculture & irrigation, chemical industry, etc.
Competitive Industry Landscape
Some of the leading companies involved in the North America pumps market are Grundfos, Xylem Inc., Gardner Denver, Thompson Pump, Baker Hughes, Flowserve Corporation, Roper Pump Company, Atlas Copco, Ebara Corporation, Sulzer, MultiQuip, Doosan, Magnum Pumps, Wacker Neuson, Generac Holdings, etc.