HVAC Pump Market to Reach $63.3 billion, Globally, by 2034 at 5.7% CAGR: Allied Market Research

Wilmington, Delaware, March 12, 2025 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “HVAC Pump Market by Pump Type (Booster pumps, Circulating pumps, Centrifugal pumps, and Others), Product Type (Single stage and Multi stage), End User (Industrial, Residential, and Commercial), and Speed Control Mechanism (Fixed Speed Pumps and Variable Speed Pumps): Global Opportunity Analysis and Industry Forecast, 2025-2034″. According to the report, the HVAC pump market was valued at $36.6 billion in 2024, and is estimated to reach $63.3 billion by 2034, growing at a CAGR of 5.7% from 2025 to 2034. 

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Prime determinants of growth 

The HVAC pump market is experiencing significant growth driven by several key dynamics. The increasing demand for energy-efficient solutions is a primary driver, as HVAC pumps play a crucial role in optimizing the performance of heating, ventilation, and air conditioning systems. Urbanization and the expansion of the construction sector are also propelling market growth, with new residential, commercial, and industrial buildings requiring advanced HVAC systems. Technological advancements, such as the development of variable speed pumps and smart pumps, are enhancing the efficiency and reliability of HVAC systems, further boosting market demand. Additionally, the rising awareness of environmental sustainability and the need for stricter regulations on building energy consumption are encouraging the adoption of innovative HVAC pumps. The integration of IoT and smart technologies into HVAC systems allows for real-time monitoring and control, thus improving operational efficiency and reducing energy consumption. Emerging economies, particularly in the Asia-Pacific region, are witnessing rapid urbanization and industrialization, creating lucrative opportunities for market players. Government initiatives and investments in infrastructure development are also supporting the growth of the HVAC pump market. Overall, the market is characterized by continuous innovation and a strong focus on sustainability and energy efficiency. 

Report coverage & details: 

Segment Highlights 

Based on pump type, the centrifugal pumps segment is expected to grow at a higher CAGR during the forecast period. Centrifugal pumps are in high demand due to their efficiency in handling large volumes of fluids with minimal maintenance. These pumps offer better energy efficiency and operational reliability, thus providing highly effective fluid transfer capabilities necessary for various applications. Furthermore, the increasing investments in infrastructure projects and the rising demand for water and wastewater management systems also support the strength of this segment. Centrifugal pumps are essential in industries such as oil and gas, chemicals, and water treatment, where they help in reducing operational costs and improving process efficiency. In addition, advancements in pump technology, such as the integration of IoT and smart monitoring systems, are further enhancing the performance and reliability of centrifugal pumps. 

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By product type, the multi-stage segment is expected to grow at a higher CAGR during the forecast period. Multi-stage pumps are in high demand due to their ability to generate high pressure, making them ideal for applications requiring significant head and pressure. These pumps offer better efficiency and performance, thus providing highly reliable pumping solutions necessary for various industrial processes. Furthermore, the growing need for high-pressure pumping in sectors such as mining, power generation, and water supply also supports the strength of this segment. Multi-stage pumps are crucial for tasks that require consistent and high-pressure fluid delivery, making them indispensable in many industrial applications. In addition, the continuous advancements in pump design and materials are enhancing the durability and efficiency of multi-stage pumps. 

By speed control mechanism, the fixed speed pump segment is expected to grow at a higher CAGR during the forecast period. Fixed-speed pumps are in high demand due to their simplicity, reliability, and cost-effectiveness in various applications. These pumps offer consistent performance and are easier to maintain, thus providing highly dependable fluid handling capabilities necessary for respective applications. Furthermore, the increasing demand for fixed-speed pumps in sectors such as water supply, HVAC, and industrial processes also supports the strength of this segment. Fixed-speed pumps are essential for applications where constant flow and pressure are required, making them a preferred choice in many industries. In addition, the advancements in pump materials and design are enhancing the efficiency and lifespan of fixed-speed pumps. 

By end user, the industrial segment is expected to grow at a higher CAGR during the forecast period, driven by the increasing demand for efficient and reliable pumping solutions in various manufacturing and processing industries. Industrial pumps are known for their superior performance and durability, providing highly effective fluid handling capabilities essential for these applications. Rapid industrialization and rise in investments in advanced manufacturing technologies further bolster this segment’s growth. Industrial pumps are crucial for maintaining operational efficiency and reducing downtime in industries such as chemicals, pharmaceuticals, and food and beverage. In addition, the integration of automation and smart technologies in industrial pumps is enhancing their efficiency and reliability, making them even more valuable in these sectors. 

Regional Outlook 

By region, the Asia-Pacific, particularly China, is expected to grow at a higher CAGR during the forecast period. The HVAC pump market in Asia-Pacific is in high demand due to significant growth of manufacturing industries and increase in infrastructure development in the region. The market offers better opportunities for mass production and high-efficiency pumping solutions, thus providing highly effective fluid handling capabilities necessary for various applications. Furthermore, the rapid urbanization and rise in investments in water and wastewater management systems also support the strength of this segment. The region’s strong focus on industrial growth and technological advancements is driving the adoption of advanced pumping solutions. In addition, government initiatives and favorable policies are encouraging the development of sustainable and energy-efficient infrastructure, further boosting the demand for pumps in the Asia-Pacific region. 

Players: – 

• KIRLOSKAR BROTHERS LIMITED 

• Armstrong Fluid Technology, 

• C.R.I. Pumps Private Limited 

The report provides a detailed analysis of these key players in the global HVAC pump market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Development: 

•  In July 2023, Kirloskar Brothers Limited launched a vertical inline long coupled pump for the growing heating, ventilation, and air-conditioning (HVAC) market. The KW-LC pump is a space-saving, vertical, long-coupled design that simplifies piping and has a compact structure. 

• In June 2024, Armstrong Fluid Technology opened a 29,000-square foot industrial heat-pump manufacturing wing at its Three Rivers, Michigan, campus, U.S. The project is supported through a grant of just over $5 million from the U.S. Department of Energy (DOE). The grant enables Armstrong to significantly bolster its manufacturing capabilities, specifically to produce specialized industrial heat pumps designed for applications that require more than 100 kW of heat and temperatures above 180°F. 

• In December 2024, Pentair acquired Florida-based G&F Manufacturing, LLC at $108 million. Through this acquisition Pentair manufactures & services heat pumps for pools under the Gulfstream brand in the Southeast portion of the U.S. This acquisition helps Pentair to boost its heat pump manufacturing production for the U.S. region. 

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Key Benefits For Stakeholders 

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the HVAC pump market analysis from 2024 to 2034 to identify the prevailing HVAC pump industry opportunities. 

• The HVAC pump industry research is offered along with information related to key drivers, restraints, and opportunities. 

• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. 

• In-depth analysis of the HVAC pump market segmentation assists to determine the prevailing market opportunities. 

• Major countries in each region are mapped according to their revenue contribution to the global HVAC pump market. 

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players. 

• The report includes the analysis of the regional as well as global HVAC pump market trends, key players, market segments, application areas, and market growth strategies. 

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HVAC Pump Market Report Highlights 

Aspects Details 

By Pump Type 

By End User 

By Product Type 

By Speed Control Mechanism 

By Region 

• North America (U.S., Canada, Mexico) 

• Europe (UK, Germany, France, Italy, Rest of Europe) 

• Asia-Pacific (China, Japan, India, South Korea, Rest of Europe) 

• LAMEA (Latin America, Middle East, Africa) 

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We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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