Global Maritime Trade & Logistics is projected to Support Cargo Pumps Demand

Cargo pumps market size was $3.4 billion and is anticipated to grow at a steady CAGR of 5.1% during the forecast period (2025-2035). The increase in global maritime trade is expected to influence demand for cargo pumps in the forecast period. The increase is mainly driven by global trade, efforts for energy diversification, and the rising volumes of marine crude oil and LNG transport across different regions. Primarily, the transport of oil and gas products captures an extensive share of the global maritime liquid trade products and involves large-scale transfer of crude oil and LNG products across ports, ships, oil rigs, and other related infrastructure. These transfers majorly involve deploying diverse types of cargo pumps that assist in optimizing resources, increasing transfer productivity, and reducing logistic durations. The volumes of maritime trade involving oil and gas products are increasing, and this is due to improving trade infrastructure, particularly in developing nations. This is one of the areas where cargo pump market players will have significant opportunities to focus and expand their product lines and market presence in the segment. For example, UNCTAD Review of Maritime Transport, 2024. In 2023, the global maritime trade for liquid cargo recorded an increase. The volume of trade in LPG, crude oil, and oil products grew moderately, with LPG growing by 5.3% in volume, crude oil by 2.4%, and oil products by 1.5%. In addition, ton-mile growth exceeded volume growth in these areas, with LPG up 10.7%, oil products 7.0%, and crude oil 5.8%.

Browse the full report description of “Cargo Pumps Market Size, Share & Trends Analysis Report by Type (Centrifugal Pumps, Reciprocating Pumps, Progressive Cavity Pumps, Screw pumps, Gear Pumps, and Others (Vane Pumps)), and by End-User Industry (Marine, Oil & Gas, Water Management, Food & Beverage, Chemicals, Pharmaceuticals, and Others (Mining)) Forecast Period (2025-2035)” at https://www.omrglobal.com/industry-reports/cargo-pumps-market

Major Developments in Maritime Trade Influencing Cargo Pumps Demand

• UNCTAD predicts that from 2025 to 2029, total seaborne trade is expected to grow at an average rate of 2.4%, while containerized trade is projected to expand by 2.7% annually. 

• Global maritime trade volumes stood at 12,292 million tons in 2023, a growth of 2.4% following a contraction in 2022. 

• Tonnage miles went up by 62,037 billion in 2023, rising by 4.2% from 2022 due to long-haul voyages across all marine transport segments.

• In 2023, disruptions in shipping networks led to increased hauls and distances for the majority of maritime cargo types, with LPG at 10.7%, coal at 7.4%, and oil products at 7.0%, at the high ends.

Recent Developments

• In November 2023, ITT Inc. agreed to buy Svanehøj Group A/S for $395 million. The deal, expected to close in Q1 2024, will combine Svanehøj into ITT's Industrial Process segment and expand its engineered pumps, valves, and services offerings, especially in cryogenic marine applications.

• In August 2022, DESMI re-launched its cargo pumps for the liquefied gas supply chain industry.  These pumps efficiently handle three kinds of liquefied gaseous products including liquefied petroleum gas (LPG), ethylene gas (LEG), and natural gas (LNG).

Market Coverage

· The market number available for – 2024-2035

· Base year- 2024

· Forecast period- 2025-2035

· Segment Covered- 

o By Type

o By End-User Industry

· Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

· Competitive Landscape- Alfa Laval, Flowserve Corp., KSB SE & Co. KGaA, Sulzer Ltd., Xylem, and others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Cargo Pumps Market Report Segment

By Type

• Centrifugal Pumps
• Reciprocating Pumps
• Progressive Cavity Pumps
• Screw pumps
• Gear Pumps
• Others (Vane Pumps)

By End-User Industry

• Marine
• Oil & Gas
• Water Management
• Food & Beverage
• Chemicals
• Pharmaceuticals
• Others (Mining)

Global Cargo Pumps Market Report Segment by Region

North America

· United States

· Canada 

Europe

· UK

· Germany

· Italy

· Spain

· France

· Russia

· Rest of Europe 

Asia-Pacific

· China

· India

· Japan

· South Korea

· Australia and New Zealand

· ASEAN Economies

· Rest of Asia-Pacific 

Rest of the World

· Latin America 

· Middle East & Africa

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