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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Generator Sales Market to Witness Revolutionary Growth by 2026 | Caterpillar, Cummins, Rolls-Royce Holdings, Mitsubishi, Generac

The global generator sales market is expected to grow at a CAGR of 5.9% during the forecast period. It is estimated to be USD 19.9 billion in 2021 and is projected to reach USD 26.5 by 2026. The major factors driving the generator sales market include the growing demand for uninterrupted and reliable power as some of the best power grids are also subject to downtime, growth of healthcare infrastructure, rising demand for IT infrastructure management, and rapid urbanization in developing countries.

Market Interconnection

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The other fuel type segment which includes propane, LPG, and bio-diesel is expected to be the fastest growing fuel segment of the generator sales market from 2021 to 2026. Countries around the world have set emission reduction targets and are working toward achieving these targets, which has resulted in the increased share of environmentally friendly fuel for power production. Countries such as the US, Brazil, Canada, Germany, France, and the UK are expected to increase their focus on environmentally friendly technologies, driving the market for propane, LPG, and bio-diesel-powered generators during the forecast period.

The industrial segment is expected to be the fastest growing generator sales market, by end-user, during the forecast period. The industrial end-user segment includes the utility/power generation, oil & gas, and other industries such as mining, marine, chemicals, military, and manufacturing. Growth of the oil & gas sector in China, Mexico, the US, Canada, and African countries is creating a new market for generator sets. Also, the growth of the manufacturing sector in Asia Pacific is expected to drive the demand for generators.

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The 1,000–2,500 kVA power rating segment is expected to be the fastest growing segment of the generator sales market during the forecast period. 1,000–2,500 kVA generators are mainly used for CHP plants, large manufacturing units, power plants, and marine applications. The above 1,000–2,500 kVA generators are economical and can be deployed for continuous power applications. The adoption of natural gas and other renewable gases for the 1,000–2,500 kVA generators is the major reason for the fastest growth projection of the segment during the forecast period.

Asia Pacific is expected to be the fastest growing market for generator sales from 2021 to 2026, followed by the North America. Countries such as the US, China, Canada, and India are the largest markets for generator sales. India and China are rapidly developing large economies. Both countries are implementing policies to boost their industrial sectors. Inadequate power transmission & distribution networks in developing countries in Asia Pacific are also expected to create a demand for generator sets. Due to these factors, Asia Pacific is projected to grow at the highest CAGR during the forecast period.

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Key Market Players:

The major players in the generator sales market are Caterpillar (US), Cummins (US), Rolls-Royce Holdings (UK),Mitsubishi Heavy Industries, Ltd. (Japan), and Generac (US). Between 2017 and 2021, the companies adopted growth strategies such as new product launches, contracts & agreements, mergers & acquisitions, and expansions to capture a larger share of the generator sales market.

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Portable Generator Market by Fuel (Gasoline, Diesel, Natural Gas, Others), Application (Emergency, Prime/Continuous), Power Rating (below 5 kW, 5–10 kW, 10–20 kW), End User (Residential, Commercial, Industrial), and Region - Global Forecast to 2026

Portable Generator Market Size 2021 Growing Rapidly with Modern Trends, Development Status, Investment Opportunities, Share & Forecast to 2026

The portable generator market is projected to reach USD 2.5 billion by 2026 from an estimated USD 1.8 billion in 2021, at a CAGR of 6.7% during the forecast period. Increasing instances of power outages owing to aging grid infrastructure and extreme weather conditions are the key factors driving the growth of the portable generator market. Increasing adoption of dual fuel and inverter portable generators are expected to offer lucrative opportunities for the portable generator market during the forecast period. 

Impact of COVID-19 on portable generator market:

COVID-19 has slowed the growth of the portable generator market, as countries were forced to implement lockdowns during the first half of 2020. Strict guidelines were issued by governments and local authorities, and all non-essential operations were halted. This adversely affected the portable generator market owing to the suspension of activities of end users.

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In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the portable generator market, since end-user industries were still not operating at their full capacity.

Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific region has been segmented, by country, into China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. Rest of Asia Pacific includes Indonesia, Singapore, Malaysia, Taiwan, and Thailand. The region is the most populated region in the world and is expected to become the largest energy-consuming region globally. It comprises many developing countries and requires more energy for its development. According to the Asian Development Bank (ADB), the region’s share of global energy consumption is expected to increase to 56% by 2035 from 34% in 2010. The industrial sector in China contributed more than 37% of its GDP in 2020. The growth of the industrial sector has tremendously increased power production and consumption in China. These factors have made China one of the most lucrative markets for the power industry. Thus, increase in demand for power is likely to offer growth opportunities for portable generator market during he forecast period.

The portable generator market, by application, is segmented into emergency and prime/continuous. The emergency segment, by application, is projected to hold the highest market share during the forecast period. The growth of this segment is driven by increasing weather-related power outages and aging power generation & distribution networks. Furthermore, the usage of portable generators during emergency backup can prevent food from spoiling, keep lights on, and help in other day-to-day requirements. 

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The report segments the portable generator market, by fuel, into gasoline (petrol), diesel, natural gas, and others. Others includes LPG, propane, and biodiesel. The market for gasoline (petrol) is expected to hold the highest market share during the forecast period. It is majorly used for temporary, intermittent, or low-load applications. Gasoline is a common source of fuel and the easiest to obtain. It is mostly used for running portable generators for a shorter period of time, which is likely to increase their demand in the portable generator market globally.     

On the basis of power rating, below 5 kW, 5–10 kW, and 10–20 kW. The market for gasoline (petrol) is expected to hold the highest market share during the forecast period. The 5–10-kW portable generator, by power rating, is projected to hold the highest market share during 2021–2026. The market for these generators is projected to grow because of the increase in awareness of in-house power backup and demand for portable powering systems in outdoor recreational activities.

The portable generator market, by end user, into residential, commercial, and industrial. The residential segment is expected to hold the highest market share during the forecast period. The increasing number of frequent blackouts and insufficient power supply in some parts of Africa and South America are expected to boost the demand for residential portable generators. 

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Key Market Players:

Atlas Copco (Sweden), Briggs & Stratton (US), Generac (US), Honda (Japan), Yamaha (Japan), Caterpillar (US), Cummins (US), Eaton (Ireland), Honeywell (US), Siemens (Germany), Wacker Neuson (Germany), Kubota (Japan), Kohler (US), Champion (US), Himoinsa (Spain), Duromax (US), Loncin (China), and others.

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