Mining Pump Market was worth USD 6.9 billion in 2023 and is expected to achieve a CAGR of 4.9% during the forecast period of 2024-2032. Growing worldwide demand for minerals and metals, especially in developing economies, has resulted in increased mining activities across the globe. This growth has directly contributed to the demand for effective and durable pumping solutions to manage different materials and fluids in mining operations. Advances in pump technology, such as greater energy efficiency, longer lifespan, and automation potential, have improved the appeal of contemporary pumps to mining firms seeking to streamline their operations and cut expenses.
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Mining Pump Market Trends
One of the major trends is the greater use of smart pumps that are endowed with IoT and AI capabilities, which support real-time monitoring, predictive maintenance, and enhanced efficiency. This move to digitalization is assisting mining companies to streamline their operations and minimize downtime.
Another trend is the increased need for energy-efficient pumps, which is powered both by cost-saving measures and environmental factors. Developers are emphasizing the production of pumps with better efficiency ratings and reduced power consumption. There is also an increasing demand for submersible pumps, particularly in deep mining, because they can operate under high pressure and in tight spaces. The market is experiencing a boom in demand for corrosion-resistant pumps using advanced materials to resist the tough mining conditions and increase equipment life.
Mining Pump Market Share
The worldwide market for mining pumps is highly dispersed, and market leaders, such as The Weir Group PLC, Grundfos Holding A/S, Xylem Inc., Flowserve Corporation and PKSB SE & Co. KGaA, collectively account for a market share of 20-25%. Market leaders command their position with robust research and development facilities, established global distribution systems, and market strategic collaborations.
Mining Pump Market Companies
Key companies playing in the industry of mining pumps are
Ebara Corporation
Flowserve Corporation
Grundfos Holding A/S
JEE Pumps (Guj) Pvt. Ltd.
KSB SE & Co. KGaA
Metso Outotec Corporation
Multotec Group
NETZSCH Pumpen & Systeme GmbH
Schurco Slurry, LLC
Sulzer Ltd.
The Gorman-Rupp Company
The Weir Group PLC
Tsurumi Manufacturing Co., Ltd.
Xylem Inc.
Market, By Pump Type
- Centrifugal Pump
- Dewatering Pumps
- Slurry Pumps
- Multi-Stage Pumps
- Diaphragm Pumps
- Others (Piston Pumps, Peristaltic Pumps, etc)
Market, By Power Source
- Electric & Solar Pumps
- Diesel Pumps
- Others (Gasoline Solar, Etc)
Market, By Flow Rate
- Below 100 m³/h
- 100 – 500 m³/h
- Above 500 m³/h
Market, By Horsepower
- Below 100 HP
- 100 – 500 HP
- Above 500 HP
Market, By Technology
- Conventional
- Smart
Market, By Application
- Mine Dewatering
- Mineral Processing
- Water & Wastewater Treatment
- Dust Suppression
- Others (Lubrication, etc)
Market, By Distribution Channel
- Direct
- Indirect
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Mining Pump Market News
Metso Outotec announced in March 2024 the release of its new MDM900 slurry pump, tailor-made for heavy-duty mining purposes. The pump provides better efficiency and wear-resistance, aligning with increasing demand for long-lasting equipment within harsh mining conditions.
Xylem partnered in February 2024 with one of Australia’s leading mining operations to roll out its intelligent pump monitoring system at several locations. This partnership speaks volumes about Xylem’s digitalization thrust in the mining industry, providing real-time analytics for optimizing pump performance and minimizing downtime.
In January 2024, Weir Group announced a major contract win to provide its Warman slurry pumps for a significant copper mine expansion project in Chile.
