Pump For Liquid Market

The article provides a detailed analysis of the global market for pumps for liquids and liquid elevators, forecasting a continued upward consumption trend. Market performance is expected to expand in both volume and value terms, with significant growth in consumption, production, imports, and exports observed over the past decade. Key insights include the top consuming and producing countries, dominant product types, and fluctuations in import and export prices. This comprehensive overview offers valuable information for stakeholders looking to understand and capitalize on the opportunities in the pump market.

Market Forecast

Driven by increasing demand for pumps for liquids and liquid elevators worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.0% for the period from 2022 to 2030, which is projected to bring the market volume to 14B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market value to $911.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Pumps For Liquids And Liquid Elevators

In 2022, the amount of pumps for liquids and liquid elevators consumed worldwide skyrocketed to 13B units, picking up by 29% compared with 2021. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +106.3% against 2015 indices. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.

The global pump for liquid market size surged to $615.2B in 2022, with an increase of 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a buoyant expansion. As a result, consumption reached the peak level of $627B. From 2021 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (4.3B units), Latvia (3.5B units) and the United States (1.2B units), with a combined 69% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +24.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($71.1B) led the market, alone. The second position in the ranking was taken by the United States ($15.9B). It was followed by Russia.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +21.1%. In the other countries, the average annual rates were as follows: the United States (+10.3% per year) and Russia (+17.1% per year).

In 2022, the highest levels of pump for liquid per capita consumption was registered in Latvia (1,869 units per person), followed by Spain (12 units per person), Canada (5.2 units per person) and Italy (3.8 units per person), while the world average per capita consumption of pump for liquid was estimated at 1.6 units per person.

In Latvia, pump for liquid per capita consumption expanded at an average annual rate of +2.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Spain (+9.1% per year) and Canada (+11.5% per year).

Production

World Production of Pumps For Liquids And Liquid Elevators

In 2022, production of pumps for liquids and liquid elevators increased by 39% to 11B units, rising for the sixth year in a row after three years of decline. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +110.8% against 2016 indices. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, pump for liquid production totaled $517.3B in 2022 estimated in export price. In general, production posted a strong expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 47%. Over the period under review, global production attained the peak level at $564.5B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (4.8B units), Latvia (3.5B units) and Mexico (567M units), together accounting for 78% of global production.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +22.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Pumps For Liquids And Liquid Elevators

In 2022, supplies from abroad of pumps for liquids and liquid elevators decreased by -8.6% to 3.4B units, falling for the second year in a row after five years of growth. In general, imports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 58% against the previous year. As a result, imports attained the peak of 4.3B units. From 2021 to 2022, the growth of global imports remained at a lower figure.

In value terms, pump for liquid imports totaled $56.7B in 2022. The total import value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 16% against the previous year. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

In 2022, the United States (1.1B units) represented the major importer of pumps for liquids and liquid elevators, constituting 33% of total imports. It was distantly followed by Russia (245M units), Canada (214M units), Turkey (212M units), Mexico (159M units) and Poland (158M units), together committing a 29% share of total imports. The UK (112M units), Italy (105M units), Germany (83M units), China (76M units) and France (64M units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +18.8% from 2012 to 2022. At the same time, Russia (+19.8%), Poland (+14.1%), Canada (+11.3%), Italy (+8.7%), Mexico (+7.7%), France (+6.1%), China (+4.8%), Turkey (+4.4%), the UK (+1.3%) and Germany (+1.2%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in the world, with a CAGR of +19.8% from 2012-2022. From 2012 to 2022, the share of the United States and Russia increased by +18 and +4.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($9.1B) constitutes the largest market for imported pumps for liquids and liquid elevators worldwide, comprising 16% of global imports. The second position in the ranking was taken by China ($4.2B), with a 7.5% share of global imports. It was followed by Germany, with a 6.9% share.

In the United States, pump for liquid imports increased at an average annual rate of +2.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: China (+2.0% per year) and Germany (+1.8% per year).

Imports By Type

Positive displacement pumps and hand pumps dominates imports structure, recording 3B units, which was approx. 75% of total imports in 2022. Fuel, lubricating or cooling-medium pumps for internal combustion engines (374M units) took the second position in the ranking, followed by pumps for liquids (240M units). All these products together took approx. 15% share of total imports. The following types - pumps and liquid elevators; n.e.s. in heading no. 8413 (131M units), hydraulic pumps (axial and radial piston) and other reciprocating positive displacement pumps (106M units) and hydraulic pumps (gear or vane) and other rotary positive displacement pumps (101M units) - each resulted at an 8.4% share of total imports.

Positive displacement pumps and hand pumps was also the fastest-growing in terms of imports, with a CAGR of +13.6% from 2012 to 2022. At the same time, hydraulic pumps (axial and radial piston) and other reciprocating positive displacement pumps (+6.8%), pumps for liquids (+5.7%), fuel, lubricating or cooling-medium pumps for internal combustion engines (+4.0%) and hydraulic pumps (gear or vane) and other rotary positive displacement pumps (+3.5%) displayed positive paces of growth. Pumps and liquid elevators; n.e.s. in heading no. 8413 experienced a relatively flat trend pattern. While the share of positive displacement pumps and hand pumps (+21 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of hydraulic pumps (gear or vane) and other rotary positive displacement pumps (-2.1 p.p.), pumps for liquids (-3 p.p.), pumps and liquid elevators; n.e.s. in heading no. 8413 (-4.7 p.p.) and fuel, lubricating or cooling-medium pumps for internal combustion engines (-7 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, pumps for liquids ($16.6B), fuel, lubricating or cooling-medium pumps for internal combustion engines ($13.8B) and hydraulic pumps (axial and radial piston) and other reciprocating positive displacement pumps ($8.6B) constituted the products with the highest levels of imports in 2022, with a combined 68% share of global imports. Hydraulic pumps (gear or vane) and other rotary positive displacement pumps , pumps and liquid elevators; n.e.s. in heading no. 8413, pumps for dispensing liquids, positive displacement pumps and hand pumps, petrol and oil dispensing pumps, concrete pumps and liquid elevators lagged somewhat behind, together accounting for a further 32%.

In terms of the main imported products, positive displacement pumps and hand pumps, with a CAGR of +7.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

In 2022, the average pump for liquid import price amounted to $17 per unit, increasing by 9.7% against the previous year. In general, the import price, however, showed a deep downturn. The growth pace was the most rapid in 2021 when the average import price increased by 34%. Over the period under review, average import prices reached the peak figure at $36 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was concrete pumps ($1,755 per unit), while the price for positive displacement pumps and hand pumps ($0.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by liquid dispensing pump (+13.0%), while the other products experienced a decline in the import price figures.

Import Prices By Country

The average pump for liquid import price stood at $17 per unit in 2022, surging by 9.7% against the previous year. In general, the import price, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2021 when the average import price increased by 34% against the previous year. Global import price peaked at $36 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($56 per unit), while Turkey ($4.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+2.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Pumps For Liquids And Liquid Elevators

After six years of growth, overseas shipments of pumps for liquids and liquid elevators decreased by -1.7% to 1.8B units in 2022. Overall, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 57%. As a result, the exports reached the peak of 1.9B units, and then shrank modestly in the following year.

In value terms, pump for liquid exports contracted slightly to $54.9B in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 15%. As a result, the exports attained the peak of $55.2B, leveling off in the following year.

Exports By Country

Mexico (564M units) and China (506M units) represented roughly 59% of total exports in 2022. France (155M units) ranks next in terms of the total exports with an 8.5% share, followed by Germany (7.2%) and Italy (5.9%). The following exporters - the UK (41M units) and the Czech Republic (36M units) - each finished at a 4.2% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +33.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($8.9B), China ($8.7B) and Italy ($3.9B) constituted the countries with the highest levels of exports in 2022, with a combined 39% share of global exports.

In terms of the main exporting countries, China, with a CAGR of +7.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Positive displacement pumps and hand pumps dominates exports structure, amounting to 4.6B units, which was near 83% of total exports in 2022. Fuel, lubricating or cooling-medium pumps for internal combustion engines (332M units) ranks second in terms of the total exports with a 6% share, followed by pumps for liquids (5.1%). The following types - hydraulic pumps (axial and radial piston) and other reciprocating positive displacement pumps (125M units) and hydraulic pumps (gear or vane) and other rotary positive displacement pumps (89M units) - each recorded a 3.9% share of total exports.

Positive displacement pumps and hand pumps was also the fastest-growing in terms of exports, with a CAGR of +22.5% from 2012 to 2022. At the same time, hydraulic pumps (axial and radial piston) and other reciprocating positive displacement pumps (+14.1%), pumps for liquids (+6.1%), fuel, lubricating or cooling-medium pumps for internal combustion engines (+3.8%) and hydraulic pumps (gear or vane) and other rotary positive displacement pumps (+2.2%) displayed positive paces of growth. From 2012 to 2022, the share of positive displacement pumps and hand pumps increased by +33 percentage points. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of exported pumps for liquids and liquid elevators were pumps for liquids ($16.6B), fuel, lubricating or cooling-medium pumps for internal combustion engines ($13.2B) and hydraulic pumps (axial and radial piston) and other reciprocating positive displacement pumps ($9.3B), with a combined 72% share of global exports. Hydraulic pumps (gear or vane) and other rotary positive displacement pumps , pumps and liquid elevators; n.e.s. in heading no. 8413, pumps for dispensing liquids, positive displacement pumps and hand pumps, petrol and oil dispensing pumps, concrete pumps and liquid elevators lagged somewhat behind, together comprising a further 28%.

Among the main exported products, positive displacement pumps and hand pumps, with a CAGR of +8.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

In 2022, the average pump for liquid export price amounted to $30 per unit, flattening at the previous year. In general, the export price, however, saw a deep contraction. The pace of growth was the most pronounced in 2015 when the average export price increased by 11% against the previous year. As a result, the export price reached the peak level of $76 per unit. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was concrete pumps ($26,678 per unit), while the average price for exports of positive displacement pumps and hand pumps ($0.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by concrete pump (+17.1%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

The average pump for liquid export price stood at $30 per unit in 2022, remaining constant against the previous year. Over the period under review, the export price, however, recorded a deep contraction. The pace of growth was the most pronounced in 2015 when the average export price increased by 11%. As a result, the export price attained the peak level of $76 per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($68 per unit), while Mexico ($3.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.1%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform