HVAC pump market seen reaching $63.3B by 2034

By AI, Created 11:51 AM UTC, June 01, 2026, /AGP/ – A new Allied Market Research report projects the global HVAC pump market will grow from $36.6 billion in 2024 to $63.3 billion by 2034, driven by energy efficiency, smart controls and construction demand. The outlook points to rising adoption of variable-speed and IoT-enabled pumps, with Asia-Pacific and industrial uses expected to lead growth.

Why it matters: - HVAC pumps are becoming a bigger part of the push to cut building energy use and operating costs. - The market’s growth reflects broader demand for smarter heating and cooling systems across residential, commercial and industrial buildings. - Energy-efficient pump upgrades also support compliance with tighter sustainability and building-efficiency rules.

What happened: - Allied Market Research published a global forecast for the HVAC pump market covering 2025-2034. - The report values the market at $36.6 billion in 2024. - Allied Market Research estimates the market will reach $63.3 billion by 2034. - The report projects a 5.7% CAGR from 2025 to 2034. - The report covers pump type, product type, end user and speed control mechanism. - UL Solutions expanded HVAC pump testing facilities in Texas and Italy in January 2025 to support growing heat pump performance and safety testing needs. - The UL Solutions expansion was aimed at evaluating fixed-speed and variable-speed pumps for modern heating and cooling systems.

The details: - Variable-speed pumps are gaining adoption because they adjust flow rates to match demand and reduce wasted energy. - Smart pumps and IoT-enabled systems are improving real-time monitoring, control and operational efficiency. - Centrifugal pumps are expected to grow at a higher CAGR during the forecast period. - Multi-stage pumps are also expected to expand faster than other product types because they can generate high pressure. - Fixed-speed pumps are projected to grow at a higher CAGR because they are simple, reliable and cost-effective. - The industrial end-user segment is expected to grow at a higher CAGR, supported by manufacturing and processing demand. - Asia-Pacific, especially China, is expected to grow at a higher CAGR because of manufacturing expansion, infrastructure investment and urbanization. - Government initiatives and infrastructure spending are supporting demand for sustainable, energy-efficient pumping systems in the region. - The report lists key market players including 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 forecast suggests HVAC pump growth is being driven by both replacement demand and new construction. - The strong outlook for variable-speed and smart systems shows efficiency is becoming a competitive advantage, even as fixed-speed and centrifugal products still have room to grow. - Recent company moves point to a market where manufacturing capacity and product specialization are becoming more important. - In July 2023, Kirloskar Brothers Limited launched a vertical inline long coupled pump for HVAC applications. - In June 2024, Armstrong Fluid Technology opened a 29,000-square-foot industrial heat-pump manufacturing wing in Michigan with support from a little more than $5 million in U.S. Department of Energy funding. - In December 2024, Pentair acquired Florida-based G&F Manufacturing for $108 million to expand heat pump production for the U.S. pool market. - Allied Market Research also notes that market participants are using product launches, collaborations, expansions, joint ventures and agreements to defend or grow share.

What’s next: - Demand is expected to keep rising as energy codes tighten and HVAC systems add more digital controls. - Manufacturers are likely to keep investing in testing, automation and higher-efficiency pump designs. - Growth opportunities are expected to be strongest in Asia-Pacific, industrial applications and higher-pressure pumping needs. - The report is available as a sample, for purchase inquiry and for customization through Allied Market Research’s website.

The bottom line: - HVAC pumps are shifting from a basic building component to a technology-driven efficiency play, and the market outlook points to steady growth through 2034.