Centrifugal Pump Market

Centrifugal Pump Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Energy & Natural Resources | Author Name: Harshad

The estimated revenue of global centrifugal pump market reached nearly US$35 Bn in 2021. Tightening regulatory screws around the water treatment and purification sector will remain the largest growth favouring factor for the market.

Rising Demand for Water and Wastewater Treatment Plants to Fuel Centrifugal Pump Market Growth

Considering the global scenario, wastewater treatment plants are expected to increase significantly in the coming years. This is in wake of overcoming water insufficiencies coupled with growing water requirements. For instance, according to World Health Organization (WHO), by end of 2026, about half of the population worldwide is projected to live in areas that are water stressed. Centrifugal pumps are well suited for water and wastewater treatment applications as they can handle large volume pumping. This is expected to remain the predominant factor pushing the growth prospects of centrifugal pump market.

Moreover, laws laid by authorities to govern water regulations and setting standards for drinking water are encouraging new methods to test water quality alongside promoting development of water and wastewater treatment plants. For instance, laws such as Clean Water Act (CWA), and Safe Drinking Water Act (SDWA) have been governing the water regulations in the United States. With the Environmental Protection Agency (US EPA)’s standards for drinking water and these laws, the approval for new analytical methods to test water quality has become imperative. This factor coupled with rising need of water across industries have pushed the establishment of water treatment facilities, in turn complementing growth of the centrifugal pump market.

Rising Infrastructure and Construction Activities to Augur Well for the Centrifugal Pump Market

Growing focus on development of infrastructure is likely to boost adoption of centrifugal pumps. In addition, construction activities on the back of increasing population are expected to witness an upswing in the coming years. Furthermore, investment in the refurbishment of establishments is expected to increase. This aspect has pushed the use of centrifugal pumps in the construction sector as they offer energy efficiency solutions to support the needs regarding water supply, and the requirements of HVAC equipment. In addition, they also eliminate problems apropos to low pressure. This factor coupled with rising construction activities, and smart city initiatives is expected to bode well for the centrifugal pump market.

Multi-stage Pumps to Reign Supreme in Global Centrifugal Pump Market

Demand for multi-stage pumps is expected to increase significantly in the coming years accounting for a major share in the centrifugal pump market. This can be attributed towards their functional and operational characteristics such as reduced losses caused by internal friction, easy installation and optimised operations and high control. Moreover, multi-stage centrifugal pumps offer higher energy efficiency owing to smaller impeller diameters and tighter impeller clearances. They also have a low footprint and are cost effective with less running costs. These characteristic benefits have propelled their use in applications such as irrigation, mining, reverse osmosis, high pressure cleaning, fuel delivery and pressurising water to support fire fighting. In this backdrop, sales of multi-stage centrifugal pumps are anticipated to increase in turn contributing towards market growth.

Asia Pacific Most Likely to Retain Dominance in Global Centrifugal Pump Market

Developing nations in Asia Pacific are poised to reflect high lucrativeness for centrifugal pump market. This is mainly owing to rapid expansion in the industrial infrastructure space in the region due to business-friendly environment. In addition, significant increase in the processing and manufacturing activities in the region is expected to complement the market growth. Furthermore, Asia Pacific has been an attractive region for investors to set up manufacturing plants on the back of favourable government support, cheap land and labour and increasing pool of customers and end users. Countries such as China and India are expected to account for a major revenue share in the region backed by continued economic growth coupled with rising demand and sales of centrifugal pumps. For instance, according to the International Monetary Fund (IMF), India, and China are likely to remain the fastest growing economies in Asia Pacific.

In addition, factors such as rising crude oil consumption, increasing water treatment plants and high demand for liquefied petroleum, heating oil and gasoline have triggered installation of new refineries in the region. This aspect continues to remain instrumental in driving growth of the centrifugal pump market in Asia Pacific, making it an optimistic region for investors and stakeholders.

Centrifugal Pump Market: Competitive Landscape

Major players in the centrifugal pump market are focusing on collaborations, mergers, alliances, and acquisitions to strengthen their position. For instance, in 2021 IDEX Corporation concluded the acquisition of Airtech Group Inc. to consolidate its position in the market. On the other hand, in 2020, Alfa Laval AB got a contract to supply 2 Floating Production, Storage and Offloading (FPSO) vessels to Framo. These orders include centrifugal pumps systems for seawater and firewater lift services. In April 2020, Pleuger Industries expanded operations in Singapore to tap the Asian market. Same year in May, Wilo established new production facility and headquarters in Cedarburg, US. This new expansion will bring the combined expertise and operations of Weil Pump, Wilo USA, Wilo Machine Co. And Scot Pump under a single production site.

A few of the major players in centrifugal pump market include Grundfos (Denmark), Xylem (United States), KSB Company (Germany), Flowrox (Finland), Dover Corporation (United States), ITT Corporation (United States), Kirloskar Brothers Limited (India), Wilo Group (Germany), and The Weir Group PLC (Scotland).

The Global Centrifugal Pump Market Is Segmented As Below:

By Operation

  • Electrical
  • Hydraulic
  • Air-Driven

By Type

  • Overhung Impeller
  • Vertically Suspended
  • Between Bearing

By Stage

  • Single Stage 
  • Multistage

By End User

  • Industrial
    • Oil and Gas
    • Water and Wastewater
    • Mining and Metal
    • Chemicals
    • Power Generation
    • Food and Beverages
    • Pharmaceuticals
    • Pulp and Paper
    • Automotive
    • Textiles
  • Commercial
  • Residential
  • Agriculture

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Centrifugal Pump Market

  • Centrifugal Pump Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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Disclaimer:

  • The segmentation/company profiles/countries depicted above may vary in the actual report.

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