Forecast: Pump and Pumping Equipment Sales in the US

The US pump and pumping equipment market experienced a varied pattern in sales over the last decade, with values recovering modestly since the dip in 2016. In 2023, the market value stood at 15.458 billion USD, reflecting a steady upward trend. Significant year-on-year variations included a sharp decrease in 2016 and gradual year-on-year increments from 2021 onwards averaging around 1.43% in 2023. The five-year CAGR until 2023 shows a modest growth rate of 1.54%. Forecasted data indicates further sustained growth with the market expected to expand to 16.483 billion USD by 2028, achieving a 5.18% total growth rate over the next five years and a CAGR of 1.02%.

Future trends to watch for include advancements in energy-efficient technologies, increased demand in emerging sectors like renewable energy and wastewater management, and the impact of macroeconomic factors such as supply chain disruptions and inflation. Regulatory changes and innovation in industrial applications will also play critical roles in shaping market dynamics.