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Latin America Pumps Market Size, Share, Growth, Analysis: By Type: Centrifugal Pumps, Positive Displacement Pumps; By End Use: Oil and Gas, Water and Wastewater, Chemicals and Petrochemicals, Mining Industry, Power Generation, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Latin America Pumps Market Outlook
The Latin America pumps market size was valued at USD 6.13 billion in 2023. The market is estimated to grow at a CAGR of 2.7% during 2024-2032 to reach a value of USD 7.84 billion by 2032.
Key Takeaways
- In 2021, Latin America accounted for 40% of global copper production led by Chile-27%, Peru-10%- and Mexico-3%.
- As per industry reports, at the end of 2023, Latin America has 176,172 MW of solar capacity in pre-construction.
According to the Latin America pumps market analysis, the region’s mining sector is flourishing. Latin America accounted for 40% of copper and 35% of lithium produced globally in 2021. The region also holds significant potential to produce graphite, manganese, nickel, and rare earth elements, with Brazil alone holding around 20% of global reserves for each of these resources. An expanding mining sector driven by the demand for these critical minerals aids the demand for pumps in the region. As mines are excavated, mining pumps are crucial in managing sub-surface water as well as to contain and dispose of liquid mine waste to prevent the contamination of local water bodies.
Further, technological advancements, governmental support, and the trend of energy transition, are driving the demand for solar power technology in Latin America, thus impacting the Latin America pumps market growth. Players in the market are investing in research to innovate their pumping technology and services and to provide reliable and efficient pumps for different power generation technologies, including conventional steam, biomass, nuclear, concentrated solar power, and geothermal. For instance, concentrated solar power plants generate electricity by collecting and concentrating sunlight with mirrors and lenses in a heat transfer fluid (HTF). By using a heat exchanger system, pumps transport the HTF and heat water to produce steam. The power block then generates electricity by using a steam turbine and a generator.
Market Segmentation
Latin America Pumps Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.
Market Breakup by Type:
- Centrifugal Pumps
- Positive Displacement Pumps
Market Breakup by End Use:
- Oil and Gas
- Water and Wastewater
- Chemicals and Petrochemicals
- Mining Industry
- Power Generation
- Others
Market Breakup by Country:
- Brazil
- Mexico
- Argentina
- Others
Competitive Landscape
The key players in the pumps market in Latin America are investing in research to develop advanced pumping technology to meet the demanding application of end-use markets.
- ITT Inc.
- Ebara Corporation
- Flowserve Corporation
- Grundfos Holding A/S
- KSB Limited
- Sulzer AG
- The Weir Group PLC
- Ruhrpumpen, Inc.
- LEWA GmbH
- Baker Hughes Company
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Pumps Market Overview
8.1 Key Industry Highlights
8.2 Global Pumps Historical Market (2018-2023)
8.3 Global Pumps Market Forecast (2024-2032)
8.4 Global Pumps Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America Pumps Market Overview
9.1 Key Industry Highlights
9.2 Latin America Pumps Historical Market (2018-2023)
9.3 Latin America Pumps Market Forecast (2024-2032)
10 Latin America Pumps Market by Type
10.1 Centrifugal Pumps
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Positive Displacement Pumps
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Latin America Pumps Market by End Use
11.1.1 Oil and Gas
11.1.1.1 Historical Trend (2018-2023)
11.1.1.2 Forecast Trend (2024-2032)
11.1.2 Water and Wastewater
11.1.2.1 Historical Trend (2018-2023)
11.1.2.2 Forecast Trend (2024-2032)
11.1.3 Chemicals and Petrochemicals
11.1.3.1 Historical Trend (2018-2023)
11.1.3.2 Forecast Trend (2024-2032)
11.1.4 Mining Industry
11.1.4.1 Historical Trend (2018-2023)
11.1.4.2 Forecast Trend (2024-2032)
11.1.5 Power Generation
11.1.5.1 Historical Trend (2018-2023)
11.1.5.2 Forecast Trend (2024-2032)
11.1.6 Others
12 Latin America Pumps Market by Country
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mexico
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Argentina
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators of Demand
13.4 Key Indicators of Price
14 Trade Data Analysis (HS Code – 841350, 841370)
14.1 Major Importing Countries
14.1.1 By Volume
14.1.2 By Value
14.2 Major Exporting Countries
14.2.1 By Volume
14.2.2 By Value
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 ITT Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Ebara Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Flowserve Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Grundfos Holding A/S
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 KSB Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Sulzer AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 The Weir Group PLC
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Ruhrpumpen, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 LEWA GmbH
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Baker Hughes Company
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Pumps Market: Key Industry Highlights, 2018 and 2032
2. Latin America Pumps Market: Key Industry Highlights, 2018 and 2032
3. Latin America Pumps Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Latin America Pumps Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Latin America Pumps Historical Market: Breakup by End Use (USD Billion), 2018-2023
6. Latin America Pumps Market Forecast: Breakup by End Use (USD Billion), 2024-2032
7. Latin America Pumps Historical Market: Breakup by Country (USD Billion), 2018-2023
8. Latin America Pumps Market Forecast: Breakup by Country (USD Billion), 2024-2032
9. Major Importing Countries by Volume
10. Major Exporting Countries by Volume
11. Major Importing Countries by Value
12. Major Exporting Countries by Value
13. Latin America Pumps Market Structure
Key Questions Answered in the Report
In 2023, the pumps market attained a value of USD 6.13 billion.
The market is expected to grow at a CAGR of 2.7% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 7.84 billion by 2032.
Pumps use energy to move fluids between different points. Pumps contain a moving component (impeller, vane, piston) that displaces air, reducing the pressure and producing a partial vacuum. This facilitates the movement of air or fluid into the area of low pressure.
Centrifugal pumps are designed for high-flow applications and are more efficient compared to pneumatically driven pumps.
The major drivers of the market include growing demand for renewable power, the cruciality of pumps in various industries, and rising mining excavation activities.
Key trends aiding market expansion include an expanding demand for water treatment facilities, a demand for critical minerals, and the transition toward renewable power generation.
Major countries in the market are Brazil, Mexico, Argentina, and others.
The common types of pumps are centrifugal pumps, positive displacement pumps, and others.
Key players in the market are ITT Inc., Ebara Corporation, Flowserve Corporation, Grundfos Holding A/S, KSB Limited, Sulzer AG, The Weir Group PLC, Ruhrpumpen, Inc., LEWA GmbH, Baker Hughes Company, and others.
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