Supply Chain Issues Continue to Impact Global Pumps Market

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Jun 09, 2022, 10:17 ET

CLEVELAND, June 9, 2022 /PRNewswire/ -- Like many other industries, the global pumps market was affected by supply chain disruptions associated with the pandemic. A new Freedonia Group analysis finds that supply shortages and rising raw materials prices led to pump suppliers hiking prices, which contributed to very strong sales growth in value terms as markets began to recover in 2021.

While the pumps market achieved double-digit growth in 2021, even faster gains were prevented by difficulties meeting orders. Many firms reported order intake well in excess of revenues as they struggled to keep up with demand. Supply chain issues are expected to persist through 2022, with China's attempts to implement zero-COVID policies leading to ongoing disruption in manufacturing and logistics. Those firms that are able to cut through these issues and provide timely deliveries will have significant opportunities for sales.

Market Segmentation an Important Consideration for Company Strategies

While the global pumps market includes a variety of general-purpose products, much of the market consists of relatively specialized products that are mainly used in a particular target market. As a result, firms in the industry vary greatly in their level of exposure to different markets. Most of the global pumps market leaders pursue a strategy of market diversification and make pumps for a wide variety of applications. However, the industry includes a number of firms that have chosen to heavily emphasize the oil and gas market, and these companies underperformed in 2020 as the global oil and gas industry contracted. Market losses have contributed to further consolidation, as companies that participated in oil and gas as a non-primary market (e.g., Weir Group) reduced their participation.

Want to Learn More?

For more information about solar pumps and the global pump industry in general, see Global Pumps, now available from The Freedonia Group. This study presents historical data (2011, 2016, and 2021) and forecasts for 2022, 2026 and 2031 for demand in the global fluid handling pumps industry by product and market in US dollars.

Products:

Centrifugal
positive displacement (rotary, reciprocating, diaphragm)
specialty and other pumps, which includes pumps with designs that are uniquely specialized for specific applications, such as domestic water system pumps, turbine, drilling mud pumps, sump pumps, beverage service pumps, microfluidic laboratory pumps, and others
associated drivers, parts, and accessories

Pump demand is also segmented by market:

process manufacturing
water infrastructure
construction
oil and gas
electricity generation
other, which includes healthcare, marine, mining, and other manufacturing industries

About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.

Press Contact:
Corinne Gangloff
+1 440.842.2400
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SOURCE The Freedonia Group