Centrifugal Pump Market Anticipated to Reach $51.5 billion by 2028, Witnessing a CAGR of 5.4% During 2023 to 2028

According to a research report "Centrifugal Pump Market by Type (Overhung Impeller, Between Bearing, Vertically Suspended), Operation (Electrical, Hydraulic, Air-driven), Stage (Single Stage, Multistage), End User (Industrial, Commercial & Residential) & Region - Global Forecast to 2028" published by MarketsandMarkets, the global centrifugal pump market is estimated to grow from USD 39.7 billion in 2023 to USD 51.5 billion by 2028; it is expected to record a CAGR of 5.4% during the forecast period. The growing power demand requires power plants to expand their generation capacity, resulting in an increased need for centrifugal pumps in these facilities. Additionally, centrifugal pumps are extensively utilized in wastewater treatment, as well as the chemicals and petrochemicals sectors.

Browse 488 market data Tables and 60 Figures spread through 386 Pages and in-depth TOC on "Centrifugal Pump Market - Global Forecast to 2028"
 

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Overhung impeller segment, by type, is expected to be the largest segment during the forecast period

Based on type, the centrifugal pump market has been segmented into overhung impeller, vertically suspended, and between bearing. Overhung impeller centrifugal pumps have impellers mounted on the end of shafts that overhang their bearings. The overhung impeller segment is projected to account for the largest size of the centrifugal pump market during the forecast period, as these pumps are increasingly being used in industrial and commercial applications. With compact designs, centrifugal pumps of the overhung impeller type are typically single stage pumps that occupy minimal floor space.

Electrical segment is expected to be the largest segment in the market

Electrical centrifugal pumps find applications in both open-pit and bore well scenarios. The growth of the electrical segment in the market can be attributed to the remarkable reliability and efficiency provided by these pumps. Additionally, electrical centrifugal pumps eliminate the need for priming as they are already submerged in fluids. The market is expected to be driven by the increasing adoption of solar water pumps, which often include electrical centrifugal pumps.

Asia Pacific is expected to be the largest region in the centrifugal pump market

Asia Pacific is expected to be the largest centrifugal pump market during the forecast period. The growth of the global and regional economies is significantly influenced by increased investments in the construction industry. Countries like China, India, Indonesia, and others in the Asia Pacific region are actively investing in infrastructure development projects, which in turn drives the demand for centrifugal pumps and contributes to market growth. Additionally, the agriculture sector holds great importance in emerging economies, where conventional irrigation techniques are commonly used. To enhance irrigation efficiency and agricultural productivity, governments of many emerging economies are providing subsidies and incentives. This further boosts the demand for centrifugal pumps in the region.

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Product launches are among the key growth strategies adopted by a few leading companies, including Xylem Inc. (US), Sulzer (Switzerland), KSB (Germany), Grundfos Holding A/S (Denmark), and Flowserve Corporation (US), to enhance their position in the centrifugal pump market. Apart from product launches, companies operating in this market also focus on contracts and agreements to enhance their market share and regional presence.

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Centrifugal Pump Market Segmentation, Analysis by Recent Trends, Development & Growth by Regions to 2026

New Revenue Pockets:

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.

The circuit breaker 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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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.

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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).

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.

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Centrifugal Pump Market to Boom in Near Future by 2022 Industry Key Players: ITT, Flowserve, KSB, Sulzer, Grundfos, and Ebara

According to the market report published by MarketsandMarkets "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.

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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.

Browse and in-depth TOC on “Centrifugal Pump Market”

69 - Tables

40 - Figures

154 - Pages

https://www.marketsandmarkets.com/Market-Reports/centrifugal-pump-market-17494785.html

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.

Objectives of the Study

·         To define, describe, and forecast the market by type, by stage, by end-user, and region

·         To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

·         To strategically analyze the market with respect to individual growth trends, future projections, and the contribution of each segment to the market

·         To track and analyze competitive developments such as contracts & agreements, new product launches, expansions and investments, mergers & acquisition, strategic alliances, and partnerships and collaborations in the market

·         To profile key players and comprehensively analyze their market ranking and core competencies

Request for sample pages of the report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=17494785

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).

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.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: newsletter@marketsandmarkets.com

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.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=17494785

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.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: newsletter@marketsandmarkets.com