The global Pumps and Valves Services market was valued at USD 5059 Million in 2020 and is projected to reach USD 6508.12Million by 2028, growing at a CAGR of 3.2% from 2021 to 2028.

Reciprocating pumps move the fluid using one or more oscillating pistons, plungers, or membranes (diaphragms), while valves restrict fluid motion to the desired direction. In order for suction to take place, the pump must first pull the plunger in an outward motion to decrease pressure in the chamber.

The global Pumps and Valves Services market was valued at USD 5059 Million in 2020 and is projected to reach USD 6508.12Million by 2028, growing at a CAGR of 3.2% from 2021 to 2028.

The global Pumps and Valves Services market is segmented into product, application, regions, and countries. The regional segmentation covers current and forecasts demand on the basis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments are analyzed on the basis of current and future trends. The report covers a complete evaluation of the market based on competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 and forecast from 2021 to 2028. 

Outbreak of COVID-19 led various countries impose strict lockdown measures during the initial stages of the pandemic. Numerous companies from different verticals faced challenges due to remote work environments. As a result, companies from various sectors switched to online/virtual platforms to maintain a steady flow in their daily business activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The increasing demand for valves from healthcare and pharmaceuticals industries due to COVID-19 pandemic is anticipated to augment the growth of the pumps and valves services market over the forecast period.

The increasing demand from various economies in healthcare industry and increasing R&D investments in the pharma field is anticipated to fuel the growth of the pumps and valves services market.

The increasing norms and regulations is expected to hamper the growth of the pumps and valves services market over the forecast period.

Type  Analysis: Preview

On the basis of Type, the market is segmented into Pump services, Valves services. Food Grade  held the highest share in 2020 and is expected to grow at a significant rate over the forecast period. This is attributed to the rising demand for the Food Grade in developing countries such as China and India. Digitalization in Asia Pacific region has led to a surge in the usage of technology in various business processes over the past few years. Rising adoption of online platforms across various sectors along with analytical solutions, IoT, AI, and Blockchain technology to gain a competitive advantage is also paving the way for the Pumps and Valves Services market growth.

Application Analysis: Preview

Based on Application, the market is segmented into Oil and gas industry, Water and wastewater industry, Chemical and petrochemical industry, Power industry. Food & Beverages  held the largest share and is projected to grow at a notable CAGR over the coming years. Rising demand for Pumps and Valves Services  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively.

On the basis of region, the global Pumps and Valves Services market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held a leading share of the global Pumps and Valves Services market in 2020. Some of the major countries contributing to the market growth are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is considered as the most lucrative country for market players. This is attributed to the presence of major companies operating in the region.

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Pumps and Valves Services market are Franklin Electric, KSB, Gates, Alfa Laval, Flowserve, Wilo, Eaton, Weir, Lewis-Goetz, GE, North American hydraulics, Universal Plant Services, LEWA, Grundfos.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

• Global Pumps and Valves Services Market is projected to reach USD 6508.12Million by 2028
• Asia Pacific held the highest share of the Pumps and Valves Services market
• Food Grade held the largest share of the product segment in the Pumps and Valves Services market
• Food & Beverages held the major share of the application segment in the Pumps and Valves Services market