Global Pump Market
Oxford Economics estimate that world pump consumption rose by 1.3% in 2025 to US$60.9 billion, outperforming earlier expectations despite tariff-related uncertainties.
US$ 60.9 billion
World pump consumption in 2025 — up 1.3%
US$ 62.5 billion
2026 forecast — growth of 2.6%
Global Outlook 2026
Driven by lower tariffs and solid economic momentum, global pump demand is forecasted to grow 2.6% to $62.5 billion. However, ongoing geopolitical tensions in Iran and elevated energy prices will cap maximum growth.
Regional Outlook for 2026
- Europe (+1.6%): Decelerating growth as elevated energy prices and macroeconomic uncertainty drag on corporate capex.
- North America: Strong demand supported by a favorable corporate investment climate and higher domestic oil activity offsetting Middle East shortfalls.
- South America (+2.3%): Steady, moderate growth.
- Asia (+4.1%): Leading growth, driven by strong market resilience in China and rapid expansion in India, though exposed to energy import risks.
- Middle East & Africa (-0.4%): Weakest region; downgraded due to hydrocarbon production cutbacks and regional security concerns, though a recovery is expected once trade routes reopen.
World pump consumption by region
Source: Oxford Economics — world pump market study commissioned by Europump. The full study is available to Europump members through the secretariat.