Industrial Pumps Sourcing and Procurement Intelligence Report 2030
Industrial Pumps Category Overview The industrial pumps category is expected to grow at a CAGR of 4.9% from 2023 to 2030. The industry is being driven significantly by the increased adoption of these pumps in the oil & gas (largest consumer), pharmaceutical, medical, chemical, and petrochemical sectors. The developed nations, particularly those in the European Union and the United States, have a largely saturated food & beverage processing industry, however, the category is witnessing increased demand for industrial pumps in developing nations such as India, Brazil, etc. as the food & beverage processing sector in these nations are being flourished due to increased demand for food. The industry is witnessing higher adoption of digitization for better water management, timely problem identification, real-time data collection, and remote monitoring. IoT (internet of things) is one such solution that offers a machine-human interface, enabling better monitoring of pump operat...