Centrifugal Pumps Market Scenario

The global centrifugal pump market is estimated to expand at 4.01% CAGR during the forecast period. Centrifugal pump device which is required to move fluids by means of the transfer of rotational energy through impellers. These types of pumps are mainly used for pumping water in the industrial and residential properties. They are also majorly used in agriculture sector, municipal water and wastewater plants, power generation plants, petroleum, and chemical industries, among others.

The growing demand for centrifugal pump market is attributed to the growing infrastructure development across the globe and rising demand for water conservation and investment in water & wastewater industry. Countries such as US, China, Germany, India, and others are focusing on desalination and investment in water treatment plants to improve the efficiency of water intensive industries such as power, paper & pulp, chemical, oil & gas, and others. One of the major restraints for the global centrifugal pump market is the cavitation effect in centrifugal pumps.

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Global Centrifugal Pumps Market: Drivers and Trends

The major drivers for the market of centrifugal pumps include the latest growing concern towards wastewater treatment in the past few years have eventually helped to reduce the level of shock from oil & gas industry. Such latest development has helped the market to grow at a higher CAGR and has able to reach at a stable position.

The market of centrifugal pump has also seen developments such as advanced pump automation, increasing efficiency, and usage of deceased energy are the major factors boosting the growth of the centrifugal pumps market substantially. Going further with it, rising exploration activities to find new water sources coupled with replacement of existing pumping systems & production plants with advanced technologies have extremely encouraged the market to growth at a higher pace.

However, some drawbacks coming in the way of development of centrifugal pumps such as inability of function with high pressure and troubles in dealing with viscous liquids are accounted to be as restraints of the market growth. But increased investments making for introducing new technology to overcome such problems along with mounting demands for these pumps for various application of water recycling process and more are expected to create ample of opportunities in the worldwide centrifugal pumps market.

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Global Centrifugal Pumps Market Segmentation

In the reports of MRFR, the market for centrifugal pumps market includes some important segmentation. These segmentations have been done by type, by stage, by end-user, and by region.

By mode of type, the market is classified into overhung impeller, vertically suspended, and between bearing. Of these, vertically suspended is expected to be the leader in the market flow during the forecasted year. The leading factors owes to advantages driven by vertically suspended segment is as it is used in 75% less floor space compared to horizontal pumps with electric motor drives. Therefore, there has an increase in the demand for multistage pumps in commercial buildings, petroleum, oil & gas, and industrial process services, which are increasing the value of the market for vertically suspended centrifugal pumps.

By the mode of end-user, the market includes segments of water & wastewater, oil & gas, chemical, power, and others. The water & wastewater segment is estimated to capture the highest growth rate in the market drawn in the years to come.

Regional Outlook

Region wise, the market for centrifugal pump has covered the major regions of North America, Asia Pacific, Europe, Middle East & Africa.

Among these, North America holds the largest market share of the global centrifugal pump market since 2017. Whereas, Asia-Pacific region is estimated to capture the fastest growing region in the years to come owing to the rising investment infrastructure development. Besides, the mounting demand for the water and wastewater sector and moderate demand from construction sector, rising urbanization, and supportive government plans are expected to drive the market for the centrifugal pumps in the countries—US and Canada.

Key Players

The key players of global centrifugal pump market are Xylem (US), Grundfos (Denmark), Flowserve (US), KSB (Germany), Circor International (US), Sulzer (Switzerland), ITT Corporation (US), Wilo (Germany), Ebara Corporation (Japan), Pentair (US), Someflu (France), Baker Hughes, A GE Company (US), and Weir (UK).

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