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The U.S. utility pump market size was valued at USD 1.72 billion in 2021. The market is expected to grow from USD 1.77 billion in 2022 to USD 2.46 billion by 2029, exhibiting a CAGR of 4.8% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with utility pump experiencing lower-than-anticipated demand across the U.S. compared to pre-pandemic levels. Based on our analysis, the U.S. utility pump market exhibited a decline of -1.1% in 2020 as compared to 2019.
Utility pumps are multi-purpose for various day-to-day applications, including removing standing water, transferring water, draining aquariums, and dewatering wells and water beds. Important specifications for these pumps include maximum discharge flow, maximum discharge pressure, inlet size, discharge size, and media temperature.
COVID-19 Caused Delay in End-user Industry Projects which Affected the Pump Sale
The outbreak of the COVID-19 pandemic has disrupted the industrial sector across the country. To control the spread of the pandemic, the government imposed several restrictions, including travel ban, which further caused supply chain disruptions across various industrial verticals. The water transfer pump industry was highly impacted by the outbreak of COVID-19 as projects related to sewage and sewage treatment plants were put on hold. Construction projects were also halted. The new projects faced investment shortages due to the pandemic and infection spread in the country. The pandemic led to an increase in agricultural activities to overcome the demand across the country and export demand.
Growing Penetration of E-commerce Websites Creates Lucrative Opportunities for the Market
The traction for e-commerce websites is increasing widely worldwide. As internet and smartphone penetration increases, people access various products in remote and excluded areas. This factor enables people to purchase products from remote locations and manufacturers to sell them online. These pump suppliers can promote their products through different websites and increase sales. In contrast, consumers can access the product remotely and don't need to visit the suppliers. The online distribution of these pumps has brought several opportunities for pump companies and created a healthy environment among such players.
Growing Agriculture and Construction Activities to Boost Market Growth
Agricultural activities are booming worldwide due to rising demand to reduce import dependency on other nations. The U.S. agriculture sector is constantly expanding, and investment is also growing in the agriculture sector. The country's export to China is increasing, and the U.S. is facing strong demand from Japan, Mexico, and other major trading partners. This factor increases the demand to shift toward advanced equipment and adopt advancements in the agriculture field. These pumps are highly in demand for the agricultural farm to remove waterlogging, for irrigation purposes, well dewatering, and others.
Due to the increase in investment, infrastructure development is rising across transport, water, renewable energy, and building projects. Thus, rising activities in the construction and agriculture sectors increase the demand for such pumps.
Rising Demand for Utility Pumps from Different Applications to Propel Market Growth
These pumps are largely utilized for several applications, including removing and moving large amounts of water. These pumps are highly efficient and reliable for such applications. The demand for removing water from various farms and fields is also increasing worldwide. The government has set a target to provide water to every house, increasing the demand for these pumps for moving water worldwide.
Such pumps are also used in other industrial sectors such as food processing, mining, oil & gas, and HVAC. Also, the application of pumps in tank cleaning in residential societies is increasing widely and thus, leads to U.S. utility pump market growth.
High Maintenance Costs Associated with the Utility Pump Industry May Hinder Market Growth
The market faces a major challenge due to the maintenance cost associated with different types of pumps. These pumps have gaskets that form the central part of these pumps. The gaskets are prone to damage after continuous water use, majorly in submersible pumps. Once damaged, these gaskets need to be replaced, adding to the maintenance cost. The high maintenance cost of these pumps acts as a growth hindering factor as it is difficult for small-scale end-users to afford such a high cost.
Submersible Pump to Hold Largest U.S. Utility Pump Market Share Owing to High Demand from End-user Industries
Based on type, the market is segmented into submersible pump, dewatering pump, transfer pump, and others. The submersible pump segment is estimated to lead the market during the forecast period. The demand for such pumps is widely increasing across the end-user industries, including municipal water transfer, oil & gas, sewage, food, and others. These pumps can be widely adopted as pond or deep well pumps for underwater activities.
The transfer pump segment is anticipated to witness growth during the forecast period. The demand for such types of pumps is increasing rapidly across the end-user industries owing to the large application of such pumps in several industries. Such pumps are highly efficient for small spaces.
Removing Water Segment to Hold Major Share during the Forecast Period due to High Suitability of Such Pumps
Based on application, the market is segmented into removing water, moving water, removing condensation, and boosting water pressure. These pumps are widely adopted for removing water applications as they are suitable for such applications due to their reliability and compact fit design. Various end-user industries, such as agriculture, construction, sewage, residential sump pits, and others, adopt such pumps for removing water logging, water beds, and excess water. The rising demand from such industries drives the removing water segment.
The moving water segment is anticipated to grow significantly during the forecast period. The adoption of such pumps for water transfer is increasing rapidly across the country, owing to increasing demand from end-user industries. These pumps are more reliable and consume comparatively less energy thus, increasing the demand across this application.
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Agriculture Segment to Dominate the Market during the Forecast Period Owing to High Adoption of Utility Pumps
Based on end-user, the market is segmented into agriculture, construction, residential, and others. The agriculture segment held a major market share in 2021 and this segment is likely to dominate the market during the forecast period. The industry widely adopts utility pumps as they meet the requirements and are an efficient solution for the agriculture industry.
The construction segment is estimated to grow significantly during the forecast period. The adoption of utility pumps is high in this industry as they are used for removing water logging and removing excess water from the construction sites. During heavy rainfall, utility pumps are used for removing the water in construction sites.
Key Players to Increase their Pump Reliability and Production Capabilities
The market is highly fragmented with numerous utility pump players. Each of the present companies in this market has a strong foothold in their base country and region. The market has a strong presence of local players across the U.S. The top players in the market are Pentair, Franklin Electric, Tsurumi Pump, Wayne, Xylem, Zoeller, and others. The companies are rapidly expanding their presence and products while working on enhancing production capabilities to enhance their market shares. Further, they are focusing on providing efficient products at cheaper rates.
An Infographic Representation of U.S. Utility Pump Market
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The utility pump market research report highlights leading segments of the market in the U.S. to offer a better understanding to the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies deployed rapidly. It further highlights some growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the industry.
Value (USD Billion)
By Type, Application, and End-user
Fortune Business Insights study shows that the U.S. market was worth USD 1.72 billion in 2021.
The U.S. market is projected to grow at a CAGR of 4.8% over the forecast period
Based on end-user, the agriculture segment held the dominant share in the market.
The market is anticipated to reach USD 2.46 billion by 2029, growing at a substantial CAGR of 4.8% during the forecast period (2022-2029).
Growing agriculture and construction activity is the key market driver.
High maintenance costs associated with the product may hinder the industry growth.
The major players in the market are Pentair, Xylem, Franklin Electric, Superior Pump, and Tsurumi Pump.
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