The Industrial Pumps Market is valued at USD 65.1 billion in 2021 and is expected to reach a value of USD 90.2 billion by 2028, growing at a CAGR of 5.6% during the forecast period 2022 to 2028. The global market provides a detailed overview of the Industrial Pumps market, which has been segmented into a by-product, and applications. By product, the industrial pumps market has been segmented into Centrifugal Pumps, Positive Displacement Pump, and Others. The Centrifugal Pumps segment is likely the most significant and fastest-growing segment in various product types. Based on Application, the industrial pumps are segmented into Oil & Gas, Chemicals, Construction, Power, Water & Wastewater, and Others. According to precision business insights, the Water & Wastewater segment is predicted to register the fastest growth rate during the forecast period.
In May 2020, Wilo expanded its presence by establishing a new headquarters and production facility in Cedarburg, Wisconsin, US. The new headquarters will bring the combined operations of Wilo USA, Weil Pump, Scot Pump, and Wilo Machine Co. to a single production site.