Mining Pumps Market
Mining Pumps Market Analysis by Product Type (Centrifugal Pumps, Reciprocating Pumps, Rotary Pumps), by Capacity (Small, Medium, High), by Application, by Region - Global Forecast 2022-2032
Global Mining Pumps Market Outlook
The global mining pumps market is estimated at USD 2,375 Million in 2022 and is forecast to surpass USD 3,780 Million by 2032, growing at a CAGR of 4.8% from 2022 to 2032.
Base Year Value (2021A)
USD 2,250 Million
Estimated Year Value (2022E)
USD 2,375 Million
Projected Year Value (2032F)
USD 3,780 Million
Global Growth Rate (2022-2032)
East Asia Market Share in 2021
East Asia Market Growth Rate (2022-2032)
Collective Value Share (Saudi Arabia, UAE, Iraq) 2021: Top 3 Countries
Top 5 Companies Market Share in 2021
Key Companies Profiled
The global mining pumps market accounts for ~5% of the global industrial pumps market in 2022. The global mining pumps market is estimated to have an absolute $ opportunity of USD 1,405 Million during the assessment period of 2022-2032.
Mining Pumps Market Historical Overview (2017-2021) Vs. Forecast Outlook (2022-2032)
- East Asia mining pumps market is generated around 39% of overall market valuation for mining pumps in 2021 and is likely to reach a valuation of USD 1,443 Million by 2032 end with a CAGR of 5.5%.
- The mining pumps market in Australia is presumed to surpass market value of around USD 324 Million by the end of 2022 comprehended by the fact that it’s the 2nd largest mining country in the world with an approximate annual mining production value of USD 140 Billion. In addition, mining pumps market in Australia is forecast to reach market valuation of USD 516 Million by 2032 end.
- By product type, centrifugal pumps held the maximum market share of 44% in 2021 and is expected to gain 340 BPS within the forecast period and will contribute a market share of 47.4% by 2032 end.
- Under capacity segments available in market of mining pumps, (500-1000 gpm) mining pump is anticipated to hold market share of 43% in 2022 and is likely to provide an absolute $ opportunity of USD 604 Million by reaching a market valuation of USD 1,624 Million by the end of forecast period in 2032.
Evolving Demand for New Age Commodities to Create Untapped Opportunities
Apart from the conventional commodities, new investments are gaining prominence with regard to extraction of ‘new-age minerals’, such as cobalt, copper, nickel, lithium, and many more.
For instance, the growing demand for Li-ion batteries is pushing the demand for Lithium. Likewise, cobalt is also garnering significant attention on the back of its necessity in case of electric vehicles.
Prominent miners across the globe are eyeing these commodities in a bid to attain substantial benefits, owing to their long-term prospects and their rising prominence apropos of the technology of the future. Leading mining firms, with an objective of tapping into new opportunities, are vying to capitalize on this evolving trend having an optimistic potential.
Ease of Installation and Optimal Performance - Key USPs Spurring Sales of Centrifugal Mining Pumps
Cost-effectiveness and easy installation are two of the key attributes enhancing the appeal of centrifugal mining pumps. Easy installation, coupled with superior performance attributes, are the key factors scaling up the popularity of centrifugal mining pumps.
However, high maintenance and controlling issues in case of low flow rates are few of the prominent factors that might pose challenges apropos of adoption. Minimal cost-effectiveness, as compared to other mining pump types, is another key factor that might also confine the adoption of centrifugal mining pumps.
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Which Region holds Maximum Revenue-Generating Opportunities for Mining Pumps?
The Asia-Pacific mining pumps market consisting of markets of East Asian countries and South Asian countries, generates around 60% of the global market valuation for these pumps and is projected to grow at a combined CAGR of 5.5% during the forecast period. This is attributed to the China being world’s leading mining country with annual mineral production value of USD 185 Billion every year.
Comprehending the upcoming trends in China mining pumps market, the growing eminence of ‘Industry 4.0’ and ‘Industrial Internet of Things (IIoT)’ in industrial automation is encouraging manufacturers of mining pumps to craft new products in line with the same.
Leading mining industries and companies in China are constantly making notable efforts to utilize technical advantages of these technologies for boosting their mining outputs and grasp maximum profit margins.
Which Type of Pump is expected to be the Largest Contributor during the Forecast Period in Mining Pumps Market?
Centrifugal pumps being widely used for multiple mining application are often preferred for attaining high flow rates in a smooth manner. This segment of mining pumps market contributed around 44% in the overall market valuation in 2021. Investments in new mining projects and amelioration of existing projects across various regions is majorly surrounded by presence of centrifugal pumps in the market.
Centrifugal mining pumps, as one of the integral parts of the overall mining infrastructure, are also being highly sought-after for use in productive or extractive processes. Thus, its demand volume (units) is expected to boost by 2.4X owing to their enhanced usage in aforementioned applications.
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Competitive Landscape: Top Companies in Mining Pumps Market
The global mining pumps market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced mining pumps.
Fact.MR has provided detailed information about price points of top manufacturers of mining pumps market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
Global Mining Pumps Market Segments
By Product Type :
- Centrifugal Pumps
- Single Stage
- Axial and Mixed
- Seal less and Circular
- Reciprocating Pumps
- Rotary Pumps
- Progressive Cavity Pumps
- Centrifugal Pumps
By Capacity :
- Small (Up to 500 gpm)
- Medium (500-1,000 gpm)
- High (More than 1,000 gpm)
By Application :
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
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