In 2023, the US pump and pumping equipment manufacturing industry stood at 16.98 billion USD. The forecasted data for 2024 to 2028 shows a steady increase in industry gross output, starting from 17.16 billion USD in 2024 and reaching 17.89 billion USD by 2028. This suggests a compound annual growth rate (CAGR) of approximately 1.04% over the five years. Over the last two years, the year-on-year growth rate is between 1% and 1.1%.

Future trends to watch for:

Adoption of smart pump technologies to improve efficiency.
Increased demand driven by infrastructure development and renewable energy projects.
Sustainability practices influencing manufacturing processes.