The global industrial pumps industry was valued at $63.29 billion in 2022 and is predicted to increase at a CAGR of 4.9 percent from 2023 to 2030. The increasing implementation of these products in multiple industries such as water and wastewater, chemical, oil & gas, and power generation is likely to boost product demand. The COVID-19 epidemic has had a severe influence and impeded the growth of the industrial pump industry in the country throughout the year 2020. Many smaller players and companies with somewhat weak financial situations faced challenges in 2020 and 2021. The industry is now expected to overcome that and make major strides in terms of development by 2030, growing at a CAGR of 4.5 percent.