According to the latest research report titled “The global Mechanical Pump Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 72,732.2 million by 2028, registering a CAGR of 5.6% during 2021–2028.

The listing of key players is derived by considering multiple factors such as overall revenue, current Mechanical pumps product portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the mechanical pumps ecosystems which were studies analyzed during the course of this market research study, such as EBARA CORPORATION, KIRLOSKAR BROTHERS LIMITED, PLEUGER INDUSTRIES, Tsurumi Manufacturing Co., Ltd., and WILO SE. Grundfos Holding A/S, KSB SE & Co. KGaA, Sulzer Ltd, The Weir Group PLC, and Xylem Inc. are some of the key market players operating in the global mechanical pumps market. Further in 2020, Xylem launched a monitoring service that delivers data-driven insights for pump stations and water assets. The service will make it easy to connect with assets and monitor them in real-time, and enables smart decision-making based on real-time data and analysis.

Mechanical pump is a device that uses mechanical action to move fluids (liquid or gas) and slurries. The pumps are classified based on how they operate, but they all work on the same principle of consuming energy and moving fluid through mechanical action. Eight major industries—namely coal, fertilizers, oil & gas, refinery products, steel, cement, and electrical—are driving the adoption of mechanical pumps. Agriculture and construction services are also important end-use segments in economies, such as India and China. The major players in the mechanical pumps market are primarily focused on quality and a low-cost proposition.  The players are focusing on building a strong brand and expanding market reach in new geographies to stand out in the global market.

Middle East and Asia Pacific are likely to experience high growth in the coming years owing to the rising industrial demands in these regions. The mechanical pump market is anticipated to grow in the forecast period owing to the robust demand form the water and wastewater industry, and the infrastructure industry. However, the cavitation effect in mechanical pumps restrains the growth of the market.

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According to the United Nations, the global population is anticipated to reach 9.7 billion by 2050. The conventional farming methods are likely to fall insufficient to meet the consequently rising food demands as environmental or climatic uncertainties influence the outcomes of these methods. Modern farming practices such as vertical farming are capable of producing more yield in smaller spaces, along with using 90% less water than conventional farming practices.

Moreover, growing mass awareness about the long-term effects of pesticides used in conventional farming practices has propelled the demand for organic food produce. Vertical farming uses a controlled environment, and it can be employed to grow fruits, vegetables, and species organically. Mechanical pump are widely used for circulating the water in vertical farming. Thus, the increasing adoption of vertical farming practices owing to the surging demand for organic food is anticipated to bolster the mechanical pump market in the coming years

In 2020, the world economy suffered significant consequences due to the COVID-19 pandemic, and the effects are expected to endure to some extent in the coming years. The outbreak has led to disruptions in primary industries, such as electronics, semiconductor, and manufacturing. A sharp decline in the growth of mentioned industries is limiting the mechanical pump market growth.

Key Findings of Study:

The global mechanical pump market is segmented into five major regions— The North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2020, APAC held the largest revenue share of the global market, followed by North America and Europe. The growth of the mechanical pump market in APAC is attributed to the region's development strategies, such as increased infrastructure investment. Furthermore, China is the largest country globally in terms of mechanical pump sales, accounting for most sales in APAC. Pump sales for the global market have slowed and will continue to slow due to economic difficulties in China and the Eurozone. Because of the negative impact of falling oil and gas prices, the global mechanical pump market will continue to grow slowly in the coming years. In North America, the increasing focus on development in the water and wastewater industry in the US and Canada is one of the main growth drivers for the mechanical pumps market in the short term. The Canadian government is considering $20 billion expenditures to upgrade municipal water and wastewater infrastructure, as well as green infrastructure.

Europe is experiencing significant adoption of modern farming practices, such as hydroponics and vertical farming, which is creating substantial opportunities for the mechanical pumps market players. The MEA mechanical pump market is expected to grow exponentially during the forecast period due to flourishing infrastructure in the commercial sector. Moreover, South American countries are witnessing the digital transformation and automating their overall industrial process to generate high revenues from the market and increase their respective market shares. Thus, these factors are likely to boost the demand for mechanical pumps during the forecast period.

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