HVAC pump market to reach $63.3 billion by 2034

By AI, Created 9:41 AM UTC, May 28, 2026, /AGP/ – Allied Market Research says the global HVAC pump market will grow from $36.6 billion in 2024 to $63.3 billion by 2034, supported by energy efficiency upgrades, smart controls and broader construction activity. The forecast points to faster growth in Asia-Pacific and stronger demand for variable-speed and centrifugal pumps.

Why it matters: - HVAC pumps are becoming a bigger part of building energy strategy as owners look to cut power use and operating costs. - The forecast signals growing demand for smarter, more efficient heating and cooling systems across residential, commercial and industrial buildings. - The shift also reflects tighter focus on sustainability, building-energy rules and low-emission infrastructure.

What happened: - Allied Market Research released a report projecting the global HVAC pump market will grow at a 5.7% CAGR from 2025 to 2034. - The market was valued at $36.6 billion in 2024 and is estimated to reach $63.3 billion by 2034. - The report covers pump type, product type, end user and speed control mechanism. - A sample copy of the report is available here.

The details: - Variable-speed pumps are gaining traction because they adjust flow rates based on demand, which improves efficiency and reduces energy waste. - UL Solutions expanded HVAC pump testing facilities in Texas and Italy in January 2025 to support heat pump performance and safety evaluations tied to eco-friendly refrigerants. - The expansion covers both fixed-speed and variable-speed pumps and is intended to improve efficiency, adaptability and compliance in heating and cooling systems. - The report identifies energy-efficient solutions, urbanization, construction growth, smart pumps, IoT integration, sustainability goals and government infrastructure spending as core growth drivers. - The centrifugal pump segment is expected to grow at a higher CAGR, helped by high-volume fluid handling, low maintenance and use in oil and gas, chemicals and water treatment. - The multi-stage segment is expected to grow at a higher CAGR because it can generate high pressure for mining, power generation and water supply. - The fixed-speed pump segment is also expected to grow at a higher CAGR, supported by simplicity, reliability and lower cost. - The industrial end-user segment is expected to expand at a higher CAGR as manufacturing and processing operations seek more efficient pumping systems. - By region, Asia-Pacific, especially China, is expected to post the highest CAGR, supported by manufacturing growth, infrastructure buildout and water and wastewater investment. - Key companies in the 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.

Between the lines: - The report points to a market shaped by two overlapping trends: lower energy use and more automated control. - Smart monitoring and IoT features are moving from differentiators to expected capabilities in many HVAC applications. - The strongest growth estimates for industrial users and Asia-Pacific suggest the market is being pulled by large-scale infrastructure and manufacturing demand, not just building retrofits.

What’s next: - The report expects market players to keep competing through new product launches, collaborations, expansions, joint ventures and agreements. - Recent examples include Kirloskar Brothers Limited’s July 2023 launch of the KW-LC vertical inline long-coupled pump, Armstrong Fluid Technology’s June 2024 industrial heat-pump manufacturing wing in Michigan and Pentair’s December 2024 acquisition of G&F Manufacturing for $108 million. - Allied Market Research also offers customization and a discounted full report here.

The bottom line: - HVAC pump demand is rising on the back of efficiency mandates, smart-building technology and industrial expansion, with Asia-Pacific and variable-speed systems poised to lead the next phase of growth.