Latin America Industrial Pumps Market Size & Outlook
Latin America industrial pumps market, 2018-2030 (US$M)
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Latin America industrial pumps market highlights
- The Latin America industrial pumps market generated a revenue of USD 5,174.3 million in 2023.
- The market is expected to grow at a CAGR of 5% from 2024 to 2030.
- In terms of segment, centrifugal pump was the largest revenue generating product in 2023.
- Positive Displacement Pump is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 5,174.3 million |
| Market revenue in 2030 | USD 7,269.5 million |
| Growth rate | 5% (CAGR from 2023 to 2030) |
| Largest segment | Centrifugal pump |
| Fastest growing segment | Positive Displacement Pump |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Centrifugal Pump, Positive Displacement Pump |
| Key market players worldwide | Flowserve Corp, Sulzer AG, Pentair PLC, ITT Inc, Schlumberger Ltd, Ebara Corp, Weir Group PLC, Ingersoll Rand Inc, Grundfos |
Other key industry trends
- In terms of revenue, Latin America region accounted for 11.8% of the global industrial pumps market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 28,660.1 million by 2030.
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Industrial Pumps Market Scope
Industrial Pumps Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America industrial pumps market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to industrial pumps market will help companies and investors design strategic landscapes.
Centrifugal pump was the largest segment with a revenue share of 69.03% in 2023. Horizon Databook has segmented the Latin America industrial pumps market based on centrifugal pump, positive displacement pump covering the revenue growth of each sub-segment from 2018 to 2030.
The COVID-19 pandemic has created a widespread impact on the economic development of the region, including major countries such as Brazil, Argentina, and Colombia. According to the Economic Commission for Latin America and the Caribbean (ECLAC), Latin America and the Caribbean witnessed a GDP decline of 7.7% in 2020.
According to the IMF, their GDP growth is expected to be at 3.0% in 2022. Although exporting countries such as Argentina, Brazil, and Peru have a relatively positive outlook in terms of GDP growth, countries dependent on tourism are likely to recover gradually.
Rising efforts by the government of Brazil toward the recovery of manufacturing sector are expected to have a positive impact on the demand for industrial pumps over the forecast period.
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Our clientele includes a mix of industrial pumps market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America industrial pumps market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America industrial pumps market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America industrial pumps market size, by country, 2018-2030 (US$M)
Latin America Industrial Pumps Market Outlook Share, 2023 & 2030 (US$M)
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