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The Global Centrifugal Pump Market size is expected to reach $55.2 billion by 2030, rising at a market growth of 5.5% CAGR during the forecast period

Nov 09, 2023

The commercial & residential sectors are showcasing a noticeable growth in the construction industry. Hence, the commercial & residential sectors would generate approximately 1/4th share of the market by 2029.

New York, July 31, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Global Centrifugal Pump Market Size, Share & Industry Trends Analysis Report By Stage, By Type, By Operation Type, By End User, By Regional Outlook and Forecast, 2023 - 2030" - The main factor facilitating this increase in commercial and residential projects is population growth leading to rapid industrialization. As a percentage of all manufacturing in North America and Europe in 2019, medium- as well as high-tech manufacturing made up 47.7%, compared to sub-Saharan Africa’s 21.4% and least developed nations’ 10%.The rate of urban expansion worldwide is at its highest level ever. A projected 5 billion people will reside in towns and cities by 2030. With significant social, economic, and environmental changes, much of the urbanization will occur in Africa and Asia. This is further backed by the increased number of facilities like the wastewater treatment sector. Some of the factors impacting the market are increased demand from the agricultural sector, greater use of solar water pumps, and failures of centrifugal pumps due to the dry runs and cavitation effects.In most emerging economies, where agriculture is significant to the economy, farmers frequently use conventional irrigation methods. Solar-powered centrifugal pumps have been widely adopted by the agricultural sector. As a result, the market participants are expected to have plenty of growth prospects as contemporary agricultural techniques are used in response to the rising demand for food. In locations without access to the grid, solar-powered pumps are frequently used. These pumps obtain their energy from solar panels. Generators transform solar energy into electrical energy, which fuels electric motors to drive the pumps. The demand for solar power in centrifugal pumps is rising due to such factors, which are propelling the market’s growth.However, Cavitation produces vapor bubbles inside centrifugal pumps due to decreasing pressures applied to a liquid while maintaining a constant temperature. Then, when they move toward the pumps’ higher-pressure zones, these vapor bubbles collapse under enough pressure to change from a vapor to a liquid form. Therefore, cavitation-related failures and dry-run circumstances may limit the market.Type OutlookBased on type, the market is characterized into overhung impeller, between bearing, and vertically suspended. The between bearing segment procured a considerable growth rate in the market in 2022. Between bearing pumps are known for their high efficiency and performance. The design of these pumps allows for optimized hydraulic performance, minimizing energy losses and maximizing output. Between bearing pumps are versatile and can handle a wide range of applications. They are commonly used in industries such as water supply and distribution, HVAC systems, municipal wastewater treatment, irrigation, power generation, and oil and gas.Operation Type OutlookOn the basis of operation type, the market is classified into electrical, hydraulic, and air-driven. The electrical segment acquired the largest revenue share in the market in 2022. Electrical centrifugal pumps can be equipped with variable frequency drives (VFDs) or electronic controllers, allowing for precise control of the pump’s speed. This feature enables operators to adjust the pump’s output to match the system’s specific requirements, optimizing efficiency and reducing energy consumption. In addition, electrical centrifugal pumps are generally reliable and have a long service life.Stage OutlookBy stage, the market is divided into single stage and multi stage. The single stage segment witnessed the maximum revenue share in the market in 2022. Single stage pumps are the most frequently utilized kind of centrifugal pumps because they are widely used in many applications. They are especially well suited to circumstances with low to moderate total dynamic heads (TDH). The fact that they require less maintenance than other vehicles is one of its benefits.End User OutlookBased on end user, the market is segmented into industrial and commercial & residential. The commercial and residential segment acquired a substantial revenue share in the market in 2022. The residential and commercial sector is growing due to their extensive deployment in public facilities like swimming pools, firefighting stations, sprinklers and fountains, drainage systems, etc. Centrifugal pumps are also used in many other processes to continually operate domestic heating, ventilation, & air conditioning (HVAC), irrigation, drainage, gardens, sewage, water supply, and many others.Industrial Type OutlookThe industrial segment is further categorized into oil & gas, water & wastewater, mining & metal, chemicals, power generation, pharmaceuticals, pulp & paper, agriculture, and others (food & beverages, automotive, and textiles). The water and wastewater segment recorded the largest revenue share in the market in 2022. Because of the significant changes in the world’s climate and the frequent droughts, water and wastewater management has become more crucial than ever. As a result, treating wastewater has become essential in urban areas, suburban communities, and industrial zones.Regional OutlookRegion wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired the maximum revenue share in the market in 2022. In the Asia Pacific region, centrifugal pumps are widely used in various industries, including water & wastewater treatment plants, residential & commercial buildings, and agricultural settings. The region is experiencing an increased need for food production due to population expansion, increasing agricultural yields while using scarce resources, and the requirement to protect crops from unpredictable climate fluctuations.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Flowserve Corporation, KSB SE & Co. KGaA, Xylem, Inc., Ebara Corporation, Baker Hughes Company, Kirloskar Brothers Limited (Kirloskar Group), The Weir Group PLC, Pentair PLC, Schlumberger N.V. and Alfa Laval AB.Strategies Deployed in Centrifugal Pump MarketMay-2023: Xylem teamed up with The Tiba Manzalawi Group, a manufacturer and supplier of Air Conditioning Systems. Through this alliance, both companies would launch their joint-venture manufacturing site, the Xylem Egypt plant, which would offer leading water solutions and brands to the region.Apr-2023: The KSB group introduced the D-max impeller, a radial multi-vane impeller in open design which is suitable for handling untreated wastewater. The D-max impeller can handle fluids consisting of long fibers and solid substances, entrapped gas or air, and coarse solids. Moreover, the product would be suitable for combined sewage, heating sludge, untreated wastewater, and raw and digested sludge.Feb-2023: Flowserve took over Velan, Inc., a manufacturer of highly engineered industrial valves. This acquisition adds notable value to Flowserve’s available valves suite and further builds upon Flowserve’s existing assets through the combination of Velan’s premier brands, strong heritage, and technical specialization in attractive and versatile end markets.Jan-2023: Pentair plc completes acquisition of Pelican Water Systems, a provider of residential whole home water treatment systems. This acquisition adds Pelican Water Systems with Pentair, which would strengthen Pentair’s business by offering the latest growth opportunities through both its advanced products and its multi-channel approach that enhances consumers’ options to buy their water treatment solutions.Sep-2022: EBARA Corporation completed the acquisition of Hayward Gordon L.P., a company engaged in developing and offering pumps and mixers. This acquisition aims to broaden EBARA’s product offerings with HG’s distinguished technology, advance the manufacturing abilities of HG, improve EBARA and HG’s sales network, and broaden EBARA’s pool of resources and expertise.Jul-2022: EBARA Pumps Europe S.p.A announced the launch of In-line pump model 3E/3ES, a vertical, single centrifugal pump, mono-block, and closed coupled. The product would be simple to install in the piping layout as the discharge and suction port are in a straight line.Mar-2022: Flowserve Corporation came into an agreement with Gradient, a water company leading in advanced solutions to decrease, reclaim and renew water for leading industries. Under this agreement, companies would aim to help address the most challenging issues in wastewater and water treatment.Jul-2021: Weir Minerals unveiled Multiflo Mudflo hydraulic submersible slurry pump, developed for abrasive applications and large particle handling. The product features a hydraulically driven wet end to safely reprocess and relocate tailing ponds while maintaining water retention dams and control slimes and sludge ponds.Apr-2021: Baker Hughes partnered with Halaas & Mohn, a company engaged in the Repair and installation of machinery and equipment industry. Under this partnership, Baker Hughes would focus on API 610 centrifugal pumps across Norway, allowing Halaas & Mogn to deliver repair, parts, overhauls, and more with the benefits of Baker Hughes’ OEM service technologies and processes.Dec-2020: EBARA acquired Vansan A.S., a provider of pumps and motors for water and other fluids solutions in agricultural, industrial, and local areas. Following this acquisition, EBARA would strengthen its global supply chain and its footprint across Central Asia, Europe, Africa, and the Middle Eastern market.Feb-2020: Weir Minerals released the Lewis VL Axial Pump, Lewis Horizontal Process Pump, and Lewis Vertical High-Pressure Molten Salt Pump, the three Lewis range of pumps and valves for the sulphuric, phosphoric, and sulfur acid industries. The products are designed to increase wear life in the world’s highly corrosive industrial applications simplifying maintenance in their streamlined designs.Scope of the StudyMarket Segments covered in the Report:By Stage• Single Stage• Multi StageBy Type• Overhung Impeller• Between Bearing• Vertically SuspendedBy Operation Type• Electrical• Hydraulic• Air-drivenBy End User• Industrialo Water & Wastewatero Mining & Metalo Oil & Gaso Agricultureo Power Generationo Pharmaceuticalso Pulp & Papero Chemicalso Others• Commercial & ResidentialBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• Flowserve Corporation• KSB SE & Co. KGaA• Xylem, Inc.• Ebara Corporation• Baker Hughes Company• Kirloskar Brothers Limited (Kirloskar Group)• The Weir Group PLC• Pentair PLC• Schlumberger N.V.• Alfa Laval ABUnique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________