Centrifugal Pump Industry to Penetrate Untapped Regions During 2023 – 2028

The global centrifugal pump industry is estimated to grow from USD 39.7 billion in 2023 to USD 51.5 billion by 2028, at a CAGR of 5.4% during the forecast period. The requirement for desalination and water treatment has also contributed to the growth opportunities for centrifugal pump manufacturers. Desalination plants rely on centrifugal pumps for seawater intake, brine circulation, and product water transfer. As water scarcity becomes a pressing issue in many regions, the demand for desalination and water treatment solutions is rising, thereby driving the demand for centrifugal pumps in industrial sector.

Key Market Players

Xylem Inc. (US), Sulzer (Switzerland), KSB (Germany), Grundfos Holding A/S (Denmark), and Flowserve Corporation (US) are some of the prominent companies in this market.

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Based on type, the market has been categorized into overhung impeller, between bearing, and vertically suspended. The market is dominated by overhung impeller type of centrifugal pumps. One common application of overhung impeller centrifugal pumps is in water supply systems for residential and commercial settings. Their compact design makes them a preferred choice in these environments where space is limited. As a result, the overhung impeller segment is projected to dominate the centrifugal pump market during the forecast period, driven by their increased usage in industrial and commercial applications. 

Based on operation type, the market has been categorized into below electrical, hydraulic, and air-driven. Within the oil and gas industry, centrifugal pumps serve crucial roles in various applications. They are utilized for main oil line transfer, seawater lifting, effluent treatment, boiler feeds, and more. When it comes to artificial lifts carrying moderate to high fluids from wellbores, electrical centrifugal pumps prove to be efficient and reliable. One significant advantage of these pumps is their ability to prevent the formation of vapor cavities in liquids. They find application in both open-pit and bore well scenarios.

This report segments the centrifugal pump industry based on end user into Based on end user, the centrifugal pump market has been classified into industrial, and residential & commercial. The industrial segment has been further segmented into oil and gas, water and wastewater, mining and metal chemicals, power generation, pharmaceuticals, food & beverage, pulp and paper, agriculture, automotive, and textiles. The industrial segment holds the largest market share of the centrifugal pump market. Centrifugal pumps can handle any kind of debris (stones, sticks, sand, mud, or trash) that can fit through the opening. These are used in feeding filter presses, digestion tanks & thickeners, and pumping stations. They are also used in dosing applications in wastewater treatment processes. The demand for centrifugal pumps in the mining and metals industry is being driven by new infrastructure development projects taking place across the fast-growing economies of Asia Pacific. Such initiatives propel the growth of the centrifugal pump market for the mining and metals industry.  

Asia Pacific is the fastest-growing region in the centrifugal pump industry. The rising population and resulting increase in electricity demand are anticipated to fuel market growth. The industrial sector has fueled the demand for additional power and is anticipated to expand the market for centrifugal pumps in the power generation industry in the region.

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 The key players in the market include Grundfos Holding A/S (Denmark), Xylem Inc. (US), KSB (Germany), Sulzer (Switzerland), and Flowserve Corporation (US). Strategies such as product launches, partnerships, collaboration, acquisitions, and contracts increase their share in the market. Companies are focussing on manufacturing solar powered centrifugal pumps a new range of pump wherein the pumps utilize solar energy to pump water for irrigation purposes, offering numerous advantages over traditional fuel-based pumps. Farmers can save on fuel expenses and eliminate the dependence on unreliable power grids, making solar water pumps a financially viable and sustainable solution. Furthermore, solar water pumps are environmentally friendly. They produce clean energy, reducing carbon emissions and minimizing the ecological footprint of agricultural activities.

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Centrifugal Pump Market to Boost Business Scope with Key Players and market trend

Global Centrifugal Pump Market Overview:

The global centrifugal pump market size is projected to reach USD 48.8 billion by 2026 from an estimated value of USD 36.6 billion in 2021, at a CAGR of 5.9%. The key drivers for the centrifugal pump market include intensified demand for water and wastewater management in developed countries; surged investments in global construction industry; high demand for centrifugal pumps from agricultural sector.

Key Market Players:

The centrifugal pump market is dominated by major players that are established brand names with an extensive regional presence, along with many local and regional players in emerging economies. The key players in the centrifugal pump market include companies such as Xylem (US), Sulzer (Switzerland), KSB (Germany), Wilo (Germany), Grundfos (Denmark), and Flowserve (US).

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The industrial segment is estimated to be the fastest-growing segment of the centrifugal pump market, by end-user, from 2021 to 2026. This segment is driven by factors such as the increasing demand for freshwater in developing regions such as Asia Pacific and Africa. A focus on reducing carbon emissions is leading to the increased demand for cleaner sources of power generation which, in turn, would result in a rising demand for centrifugal pumps used as boiler feed pumps, condensate extraction, and cooling water pumps in the power generation industry.

Based on type, the overhung impeller centrifugal pump segment is expected to grow at the fastest rate from 2021 to 2026. This is due to various factors such as low installation cost as compared to between bearing centrifugal pumps. Overhung impeller pumps are installed with the lowest cost materials such as iron casings with brass or bronze impellers. They take up less floor space with slurry options such as rubber linings and offer reasonable efficiency. They are used in residential, commercial, and chemical applications. This segment is expected to have a higher market share due to the widespread implementation and easy operation of overhung impeller centrifugal pumps. The growing renewable energy sector also supports the growth of the overhung impeller pump segment with many solar power projects deploying these pumps for power generation.  

Based on stage, the single-stage segment is projected to grow at the highest CAGR from 2021 to 2026. The reliability and low maintenance costs of single-stage pumps in applications with moderate dynamic heads such as water pumping stations, which are some of the most common applications of submersible pumps, are expected to boost their demand for single-stage pumps across the globe.

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The centrifugal pump market has been segmented, based on region, into Asia Pacific, Europe, North America, Middle East, South America, and Africa. Asia Pacific is projected to grow at the fastest rate, from 2019 to 2026, followed by the North America and Middle. Countries such as China and Japan are the largest markets in Asia Pacific and have increased their investments in the infrastructure and power sectors in the recent past. China accounted for the maximum share in the market in Asia Pacific in 2020 and is projected to grow at the highest CAGR of 6.5%, from 2021 to 2026. Increasing industrialization, investments in water and wastewater treatment infrastructure, growing urbanization, and rising demand for proper sanitation are the major factors impacting the growth of the centrifugal pump market in this region.

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Centrifugal Pump Market Latest Trends, Development, Growth Analysis And Forecast by 2026

According to the new market research report "Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, Between Bearing), Operation Type (Electric, Hydraulic, Air Driven), Stage (Single Stage, Multistage), End-User (Industrial, Commercial, Residential), Region - Global Forecast to 2026"The global centrifugal pump market is projected to reach a size of USD 48.8 billion by 2026, at a CAGR of 5.9%, from an estimated USD 36.6 billion in 2021. High demand for centrifugal pumps in the agricultural sector and increasing investments in the construction industry attributing to rapid urbanization are the key factors driving the growth of the centrifugal pumps market.  Likewise, the up-gradation of aging and construction of new water & wastewater treatment facilities and adoption of solar-powered centrifugal pumps are expected to offer lucrative opportunities for the submersible pumps market during the forecast period.

Browse 305 market data Tables and 63 Figures spread through 302 Pages and in-depth TOC on "Centrifugal Pump Market - Global Forecast to 2026"

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By Stage, the single stage centrifugal pump market is expected to be the largest centrifugal pump market, in 2020.

The single stage pump segment is expected to be the largest segment of the centrifugal pump market, by stage, in 2026. These pumps are widely used in the industrial sector as they can handle large flow volumes of fluids. Increased investments in infrastructure and solar power plants and the growing household sector in developing countries are the key drivers of the single stage centrifugal pump market

By Type, the electrical segment is expected to dominate the centrifugal pump market, during the forecast period. 

The electrical centrifugal pump segment held the largest market size as these pumps can handle both solids & liquids and are used across numerous sectors to boost production. Electrical centrifugal pumps are used in different sectors, such as industrial, agricultural, and domestic. For instance, in the oil & gas industry, electrical centrifugal pumps are used to increase the flow of fluids from wells when a reservoir does not have enough energy to produce at economical rates naturally and boost production to improve financial performance. The growth of this segment is due to its increasing demand attributed to high reliability and efficiency, and as it never has to be primed as it is already submerged in the fluid. 

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By end-user, the industrial segment is the largest contributor in the centrifugal pump market during the forecast period.

The industrial segment is estimated to lead the centrifugal pump market. Asia Pacific was the largest market for the industrial end-user segment in 2020. This is attributed to the increasing population and ongoing urbanization, especially in the emerging economies of Asia.

Asia Pacific is expected to be the largest and fastest-growing market during the forecast period.

In this report, the centrifugal pump market has been analyzed for six regions, namely, Asia Pacific, Europe, North America, South America, Middle East, and Africa. Asia Pacific region has been segmented, by country, into China, Japan, India, South Korea, Bangladesh, and Rest of Asia Pacific. Rest of Asia Pacific includes Thailand, Australia, and Singapore. The major applications for centrifugal pumps in the region include water & wastewater treatment, commercial & residential complexes, and the agricultural sector. Factors driving the adoption of centrifugal pumps in the agricultural sector in Asia Pacific include the growing demand for food, rising pressure to improve yields with limited available resources, and increasing requirement to protect crops from unexpected climatic changes. Furthermore, rapid industrialization and infrastructural developments in the region offer growth opportunities for the Asia Pacific centrifugal pump market.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the centrifugal pump market are Grundfos (Denmark), KSB (Switzerland), Flowserve (US), Sulzer (Switzerland), and Xylem (US).

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Centrifugal Pump Market Set for Rapid Growth and Trend, by 2022 | ITT, Flowserve, KSB, Sulzer, Grundfos, and Ebara

The report "Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, and between Bearing), Stage (Single Stage, Multistage), End-User (Water and Wastewater, Chemicals, Oil & Gas, Power, Commercial and Residential), and Region - Global Forecast to 2022", The centrifugal pump market is expected to grow from an estimated USD 30.65 billion in 2017 to USD 36.98 billion by 2022, at a CAGR of 3.83%, during the forecast period. The market is set to witness growth due to increasing investments in infrastructure development and rising demand from the industrial sector.

Browse 69 tables and 40 figures spread through 154 pages and in-depth TOC on "Centrifugal Pump Market - Global Forecast to 2022"

The single stage centrifugal pump market is expected to be the largest centrifugal pump market, by stage, in 2017.

The single stage pump segment is expected to be the largest segment of the centrifugal pump market, by stage, in 2017. These pumps are widely used in the industrial sector as they can handle large flow volumes of fluids. Increased investments in infrastructure and solar power plants and the growing household sector in developing countries are the key drivers of the single stage centrifugal pump market.

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The vertically suspended centrifugal pump market is expected to be the second-largest centrifugal pump market, by type, during the forecast period.

Vertically suspended pumps are self-priming and use 75% less floor space than horizontal pumps with electric motor drives. An increase in the demand for multistage pumps with high pressure in high rise commercial buildings, the petroleum, oil & gas, and industry process services, and cooling power systems are the major factors driving the market for vertically suspended pumps.

Europe: Key market for centrifugal pumps during the forecast period.

In this report, the centrifugal pump market has been analyzed with respect to 6 regions, namely, Asia Pacific, Europe, North America, South America, the Middle East, and Africa. Europe is expected to be the second-largest centrifugal pump market, by region, during the forecast period. The increased demand from the water and wastewater sector, moderate demand from the construction and mining sectors, the growing awareness of energy savings, high per capita income, and supportive government plans are expected to drive the market for centrifugal pumps in this region. Germany, Russia, and the UK are the leading countries which will contribute to the growth of the centrifugal pump market in Europe.

Scope of the Report:

    By Pump Type

·         Overhung Impeller

·         Vertically Suspended

·         Between Bearing

    By Stage

·         Single Stage

·         Multistage

    By End User

·         Industrial

·         Commercial and Residential

    By Region

·         Asia Pacific

·         Europe

·         North America

·         Middle East

·         South America

·         Africa

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the centrifugal pump market such as ITT (US), Flowserve (US), KSB (Germany), Sulzer (Switzerland), Grundfos (Denmark), and Ebara (Japan).

Browse More Related Reports:

Oil & Gas Pumps Market by Type (Centrifugal, Positive Displacement (Screw Pumps, Reciprocating Pumps, Rotary & Gear Pumps, Progressive Cavity Pumps), Cryogenic), Application (Upstream, Midstream, Downstream), Region - Global Forecast to 2023

Intelligent Pump Market by Pump Type (Centrifugal & Positive Displacement), Component (Pumps, Variable Drives, & Control Systems), End-User (Building Automation, Water & Wastewater, Oil & Gas, Chemicals, & Power Generation) - Global Forecast to 2021

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Shelly Singh

MarketsandMarkets™ INC.
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