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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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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Biomass Power Generation Market Size to Reach $105.7 billion by 2028

According to a research report "Biomass Power Generation Market by Technology (Combustion, Gasification, Anaerobic Digestion, Pyrolysis), Feedstock (Agricultural Waste, Forest Waste, Animal Waste, Municipal Waste), Fuel (Solid, Liquid, Gaseous) and Region - Global Forecast to 2028" published by MarketsandMarkets, the global biomass power generation market is projected to reach USD 105.7 billion by 2028 from an estimated USD 91.3 billion in 2023, at a CAGR of 3.0% during the forecast period.

The biomass power generation delivers electricity from power plants to homes and businesses nationwide.  The growing demand for renewable electricity, implementation of strict pollution control laws, and rising consumer preference for cleaner fuels have contributed to the market growth in the region. In accordance with the global trend toward biomass as a clean energy transition fuel, investments are growing in new biomass power generation technologies for large-scale power generation and transportation fuels. 

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The Agriculture Waste, by feedstock, is expected to grow at the second highest CAGR during the forecast period.

Based on feedstock, the biomass power generation market has been split into agriculture waste, forest waste, municipal waste and animal waste. Agriculture waste is expected to grow at the second highest CAGR during the forecast period. Agricultural biomass has the potential to be a precursor material for the production of sustainable energy. The energy content of biomass varies according to crop species. Rice straw, for example, has an energy content of about 3015 kcal/kg, whereas hay has an energy content of about 3738 kcal/kg. Companies such as Babcock & Wilcox (US), Xcel Energy Inc. (US), and Chanderpur Group (India) utilize agricultural waste to generate electricity.

The solid fuel segment, by fuel, is expected to be the largest segment during the forecast period

This report segments the biomass power generation market based on fuel into three segments: Solid fuel, liquid fuel and gaseous fuel. The solid fuel segment is expected to be the largest segment during the forecast period. Solid fuels are generally woody biomass, which are directly burnt for the generation of electricity. Abundant availability of woody biomass and clean substitution to fossil fuels are major drivers for growth of solid fuel in biomass power generation.

Asia Pacific is expected to be the largest region in the biomass power generation market

Asia Pacific is expected to be the largest biomass power generation market during the forecast period. In Asia Pacific several countries planned pilot projects and carrying out full-scale development of commercial-scale biomass power plants to amplify bioenergy deployments in the region. This has increased investments toward new projects, research studies, and new installations of biopower plants in the Asia Pacific, especially in China and India. These factors are expected to fuel the growth of the biomass power generation market in the region.

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Some of the major players in the biomass power generation market are ENGIE (France), Xcel Energy Inc. (US), Babcock & Wilcox Enterprises, Inc. (US), EPH (Czechia) and Ørsted A/S (Denmark). The major strategies adopted by these players include acquisitions, sales contracts, agreements, alliances, partnerships, and expansions.

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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Superconducting Wire Market Latest Trends, Development, Growth Analysis And Forecast by 2028

According to a research report "Superconducting Wire Market by Type (Low-temperature Superconductor, Medium-temperature Superconductor, High-temperature Superconductor), End User (Energy, Medical, Transportation, Research), Sales Channel and Region - Global Forecast to 2028" published by MarketsandMarkets, the global superconducting wire market is projected to reach USD 1.7 billion by 2028 from an estimated USD 1.1 billion in 2023, at a CAGR of 9.2% during the forecast period.

Browse 138 market data Tables and 49 Figures spread through 179 Pages and in-depth TOC on "Superconducting Wire Market  - Global Forecast to 2028"

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A superconducting wire is an electrical wire made of superconductive material to transfer charge with negligible resistance. Superconductivity is the property of certain materials to conduct electricity without energy loss when they are cooled below a critical temperature. The reduction in energy loss during conduction has led to the commercialization of superconducting wires. Factors such as growing demand for Superconductor-based magnetic resonance imaging (MRI) Systems, rising implementation of superconducting wire over conventional wires, and expansion of offshore wind farms using superconducting technologies are driving the growth of the superconducting wire market.

 

The High-temperature superconductor, by type, is expected to grow at the highest CAGR during the forecast period.

Based on type, the superconducting wire market has been split low-temperature superconductor, medium-temperature superconductor, and high-temperature superconductor. High-temperature superconductor is expected to grow at the highest CAGR during the forecast period. Expansion of offshore wind farms using superconducting technologies is expected to drive the market for high-temperature superconductor segment

Direct segment, by sales channel , is expected to be largest segment during the forecast period

This report segments the superconducting wire market based on sales channel into two segments: direct, and indirect. Direct segment is expected to be the largest segment during the forecast period. As superconducting wire market is very niche market, most companies prefer a direct-to-consumer approach, which is expected to be the driving force for direct sales of superconducting wires.

Asia Pacific is expected to be the fastest-growing region in the superconducting wire market

Asia Pacific is expected to be the fastest-growing superconducting wire market during the forecast period. The increasing spending on energy and transportation infrastructure development in countries such as China, Japan, and South Korea is fueling the growth of the Asia Pacific superconducting wire market.

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Some of the major players in the superconducting wire market are Sumitomo Electric Industries, Ltd. (Japan), Fujikura Ltd. (Japan), Furukawa Electric Co., Ltd. (Japan), Bruker (US), and American Superconductor (US). The major strategies adopted by these players include acquisitions, sales contracts, product launches, agreements, alliances, partnerships, and expansions.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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