The global HVAC pump market is expected to grow from $36.6 billion in 2024 to $63.3 billion by 2034, according to a new report by Allied Market Research. The market is projected to expand at a compound annual growth rate (CAGR) of 5.7% from 2025 to 2034.
The growth is attributed to rising demand for energy-efficient HVAC systems and increasing adoption of variable-speed and smart pumps. These technologies enhance automation, lower operational costs, and help reduce the carbon footprint of heating, ventilation, and air conditioning systems.
According to the report, several factors are driving the market. Growing urbanization and construction activities are boosting demand for advanced HVAC solutions in residential, commercial, and industrial buildings. The integration of Internet of Things (IoT) technologies and smart monitoring systems is also improving system performance and energy efficiency.
Increased awareness of environmental sustainability and stricter energy regulations are further encouraging the use of efficient HVAC pumps. Additionally, rapid industrialization in emerging markets, especially in the Asia-Pacific region, presents new growth opportunities.
Among pump types, centrifugal pumps are expected to see the highest CAGR during the forecast period. Their ability to handle large fluid volumes with minimal maintenance makes them suitable for applications in sectors such as oil and gas, chemicals, and water treatment.
In terms of product type, the multi-stage segment is forecasted to grow faster due to its capability to deliver high pressure, making it suitable for mining, power generation, and water supply. Advances in pump materials and design are contributing to improved durability and performance.
For speed control mechanisms, fixed-speed pumps are projected to grow significantly. Their simplicity and cost-effectiveness support their continued use in HVAC, water supply, and industrial applications.
By end user, the industrial segment is expected to expand at a higher rate. Efficient and durable pumps are essential in manufacturing and processing industries, including chemicals, pharmaceuticals, and food and beverage. The adoption of automation and smart technologies is enhancing pump reliability in these sectors.
Asia-Pacific, particularly China, is expected to register the highest growth rate. Infrastructure development, industrial expansion, and increasing investments in water and wastewater management are driving demand in the region. Government policies promoting energy-efficient technologies are also influencing market trends.
Major players in the HVAC pump market include Bard HVAC, KSB SE & Co. KGaA, Kirloskar Brothers Limited, Armstrong Fluid Technology, Patterson Pump Company, C.R.I. Pumps Private Limited, Pentair, Grundfos Holding A/S, WILO SE, Xylem Inc., and Calpeda S.p.A.
These companies are pursuing strategies such as product launches, partnerships, expansions, and joint ventures to strengthen their market position.
The report, titled "HVAC Pump Market by Pump Type, Product Type, End User, and Speed Control Mechanism: Global Opportunity Analysis and Industry Forecast, 2025–2034," offers detailed analysis of key market segments and competitive developments.