According to a research report "Fish Pumps Market by Size (2.5" Pumps, 4" Pumps, 6" Pumps, 8" Pumps, 10" Pumps, 12" Pumps, and 14" Pumps), Application (Aquaculture and Fishing), Mode of Operation (Manual and Automatic) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global fish pumps market size is estimated to be valued at USD 129 million in 2022 and is projected to reach USD 186 million by 2027, recording a CAGR of 7.6% in terms of value.

Fish Pumps Market Dynamics

Drivers: Rising aquaculture industry

As the global population is growing, the demand for fish is increasing around the world. This trend is expected to continue as the developing world's population grows, urbanization expands, and incomes rise. Furthermore, due to the negative aspects associated with meat and poultry not being sustainable and red meat being harmful to the body, consumers are shifting to fish. According to a study published in the journal Communications Earth & Environment in 2022 titled 'Assessing seafood nutritional diversity in conjunction with climate impacts informs more comprehensive dietary advice,' fishes such as shellfish, mackerel, and herring emit fewer greenhouse-gas emissions and are more nutrient dense than beef, pork, or chicken. According to the FAO, the demand for fish and fish products in the Asia-Pacific region is expected to increase by 30% by 2030 as a result of the anticipated population growth and the improved living standards of the people in the region. To meet such an increased demand for fish, aquaculture production will need to increase by 50% to 60% from the present level by 2030.

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Europe is also the second-largest fish pumps market

The European region is the largest market for fish pumps. Most of the big manufacturers are headquartered in this region and are expanding their presence by either setting up new facilities or expanding the production capacities of the existing plants. Germany is one of the high-income economies in Europe. It is characterized by advanced technologies and infrastructural facilities with stringent regulations that facilitate quality maintenance to support efficient manufacturing and supply of pumps. With the growing world population there is an increase in demand for fish, thereby influencing the rapid development of vessel and land-based aquaculture systems such as recirculation aquaculture systems (RAS), hatcheries, and flow through systems, etc. to become larger and more sustainable to farm larger quantities of fish. This growth in RAS to boost pump demand required for transferring fish and also for hatchery creating demand for 2.5” to 4’ pumps.

The key players in this market include Cflow (Norway), Pg Flow Solutions (Norway), Pentair AES (US), MMC First Process (Norway), Faivre (France), Maskon (Norway), Marel (Iceland), Mjos Metallvarefabrikk As (Norway), Sterner (UK), Smir (Norway), Desmi (Denmark), Acuinuga (Spain), Inventive Marine Products Limited (Canada), and Innovasea (US).

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Increased use of automation in pumps due to their efficiency optimization could help propel the market for fish pumps

The aquaculture industry can harness the benefits of the Internet of Things (IoT) and smart manufacturing. The smart machines, with advanced analytics, offer insights into processes that can help drive levels of efficiency and safety. Sensors are being added that have boosted greater communication capabilities for both pumps and valves. IoT-enabled, a remote performance monitoring and alert system allows pumps to be monitored from anywhere, 24/7, through a secure cloud connection. This enables the plant operator to know the exact operating condition of every pump at any time of the day. This helps optimize the performance and creates an alert to predict when preventive maintenance may be needed or a potential breakdown. Smart pumps help reduce excess energy, which can save hundreds of thousands of dollars to a company’s operational costs with time. This technology certainly helps achieve sustainability within an organization as it is best suited to the specific environment in which it is being operated, and it helps achieve optimum performance.