ISO and ANSI Pumps Market Size, Share, Growth, and Industry Growth, By Type (Mag-drive Pumps and Sealed Pumps), By Application (Oil & Gas, Chemical, General Industry, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

ISO and ANSI Pumps Market REPORT OVERVIEW

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The global ISO and ANSI pumps market size was USD 3330.8 million in 2022 and market is projected to touch USD 4945.69 million by 2031, exhibiting a compound annual growth rate (CAGR) of 4.0% during the forecast period.

ISO stands for International Organization for Standard, and ANSI stands for American National Standards Institute. The ANSI pumps are non-profit private organizations that can oversee the voluntary consensus standards development for processes, systems, services, products, and others. Standards are an essential part of the commercial and industrial landscape. By adding standard-compliant products, the consumer is assured of the item's quality and standards. The ISO and ANSI pumps are standard pumps and go through a set of regulatory standards for safe drinking water. 

Water and wastewater management is anticipated to increase the demand for water ISO and ANSI pumps. Half of the world is forecasted to experience water-stresses areas in upcoming years. Thus, the government is running various acts for the conservation of water, which is anticipated to foster ISO and ANSI pumps market growth. The rising population coupled with the escalating demand for water may aid growth in the market. The use of pumps in oil and gas, general, and chemical industries is anticipated to expand the product applications. 

Covid-19 Impact: Halt in Manufacturing Industries Affected Market Growth

Every market was affected by the pandemic, and the machinery and equipment industry was no exception. In order to stop the COVID-19 virus from spreading, strict regulations have been put in place. The manufacturing sectors were shut down as part of these regulations, which slowed the market's rate of expansion. Manufacturing and the supply chain were disrupted. The workforce saw a decline as a result of their health issue. Even while the pandemic encouraged many workers to work from home, the tight budget hindered productivity. Due to inadequate production and supply, the demand for machinery equipment fell.

LATEST TRENDS

"Rising Construction Activity to Boost Product Demand"

The demand for ISO and ANSI pumps is increasing indirectly due to rising construction activities in the regions. The infrastructural developments are indirectly leading to higher demand for water which is anticipated to surge the demand for water and wastewater management. The government of the developing countries is emphasizing on urbanization, which is ultimately expanding the demand for water pumps, especially in irrigation, water and wastewater management, and in domestic regions.  Additionally, escalating demand for water management is expected to aid the ISO and ANSI pumps market growth. 

ISO and ANSI Pumps Market Segmentation

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• By Type Analysis

By type, the market is segmented into magdrive pumps and sealed pumps. 

• By Application Analysis

Based on application, the market is classified into oil & gas, chemical, general industry, and others. 

DRIVING FACTORS

"Replacement of Aged Pumps with Advanced Pumps to Bolster Market Growth"

The population is concerned about safe drinking water and wastewater management, and thus, the population is replacing the aged pumps with advanced pumps in various applications. The use of pumps in agricultural applications is forecasted to drive maximum growth in the market. Additionally, the replacement of old pumps with electric pumps is anticipated to have a positive impact on the growth of the market. The government launching new policies for safe water availability is also forecasted to surge the product demand. 

"Rising Investment on Wastewater Treatment Plants to Enhance Product Demand"

Reusing wastewater is a major solution for overcoming water insufficiency and fulfilling the rising demand for water. The ISO and ANSI pumps are extensively used in wastewater treatment plants to process the wastewater. These pumps are used in rotating the impellers to escalate the velocity and push fluids through outlet valves. The rising number of treatment plants for industrial wastewater is projected to foster the product demand in the global market. Reusing the used water also helps in focusing on water conservation. The companies are focusing on developing advanced pumps, which is anticipated to gain traction in the global market. These fcato0rs are estimated to aid product demand.  

RESTRAINING FACTORS

"Cavitation Effect on Pumps to Retard Growth"

Cavitation is a process of formation of the vapor phase in liquid when it’s subjected to decrease the pressures at a constant ambient temperature. The bubble formed within the ISO and ANSI pumps due to the inadequate fluid moving toward high-pressure areas within them may collapse under sufficient pressure and returns to its liquid state. The bubble implosion flakes off some part of metal from the impeller surfaces, which results in low-frequency vibration and noise coupled with extensive damage to the pumps. It affects the performance of the pumps that decrease sales. Thus, dry-run-related failures are forecasted to affect ISO and ANSI pumps market growth. 

ISO and ANSI Pumps Market REGIONAL INSIGHTS

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"North America to Lead the Market Owing To the Rising Takeover of Irrigation Land"

North America is anticipated to hold a major part of the ISO and ANSI pumps market share owing to the rising takeover of land under irrigation. The higher concern toward water and wastewater management is also anticipated to foster market growth.

Asia Pacific is forecasted to hold a significant part of the ISO, and ANSI pumps market share due to the escalating emphasis on enhanced resource management. Additionally, the wastewater treatment market is growing, which ultimately leads to the growth of the market.

KEY INDUSTRY PLAYERS

"Key Competitors to Emphasize On Launching Advanced Products to Gain Market Share"

The market is made of various sized companies. The global market players are adopting organic and inorganic strategies to consistently grow in the global market. The key companies are also focused on expanding their product portfolio by launching advanced products in the ISO and ANSI pumps market. The competitors are likely to target the solar industry for enhancing its sales. The competitors are emphasized on research and development of the equipment to launch other advanced products. The manufacturers are focused on increasing the sustainability and cost of the product. The key competitors are striving for various growth strategies to gain market share. 

List of Market Players Profiled

• Flowserve (U.S.)
• KSB (Germany)
• Dover (PSG)
• Sulzer (Switzerland)
• Xylem (U.S.)
• WILO (Germany)
• Ruhrpumpen Group (U.K.)
• ANDRITZ (Austria)
• ITT Goulds Pumps (U.S.)
• Pentair (U.S.)
• Grundfos (Denmark)
• Sundyne (India)
• Ebara Corporation (Japan)
• SPX FLOW (U.S.)
• CECO Environmental (U.S.)
• Iwaki (U.S.A)
• Richter (Hungary)
• Torishima (Japan)
• DXP-Pumpworks (U.S.)
• CP Pumpen (Switzerland)
• Kaiquan (China)
• Magnatex (U.S.)
• Thompson (U.S.)

REPORT COVERAGE

The study provides precise data on market insights. It provides an examination of a competitive advantage that is thought to be important for the development of business strategy. The paper outlines several avenues for the sector's expansion and development. The report's market segmentation covers the essential elements of the industry with a variety of growth possibilities, a competitive environment, and the growth strategies of the leading key players. The market study focuses on different development prospects and the variables that can constrain market growth. The major industry participants and their corporate headquarters are also represented in this market analysis. The research provides a thorough understanding of the market.