Global Centrifugal Pump Market To Grow At A CAGR Of 5.8% By 2027
The ‘Global Centrifugal Pump Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, by Expert Market Research, gives an extensive outlook of the global centrifugal pump market, assessing the market on the basis of its segments like impeller type, stage segments, flow type, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview 2017-2027
• Historical Market Size (2021): USD 1.04 Billion
• Forecast CAGR (2022-2027): 5.8%
• Forecast Market Size (2027): USD 1.38 Billion
The global Centrifugal pump market demand is contemplated to increase over the upcoming years due to rapid industrialisation and increased demand for such pumps by municipalities for a variety of applications. On the basis of end-user, the expansion of the waste and wastewater segment is anticipated to help the growth of the centrifugal pump market during the forecasted period due to the increasing investment in infrastructure development activities along with the rising construction of wastewater treatment facilities.
Also, it is projected that integration of centrifugal pumps and loT and the adoption of numerous favourable government measures to promote industrialization will also support the market growth for centrifugal pumps during the forecasted period.
Centrifugal Pump Industry Definition and Major Segments
A centrifugal pump is a hydraulic device that uses the fluid’s centrifugal force to convert mechanical energy into hydraulic energy. A centrifugal pump’s primary function is to move fluids by building pressure. Although centrifugal pumps can have a variety of structural designs, their fundamental design and fluid dynamics properties never change.
Based on impeller type, the market for centrifugal pump is segmented into:
• Overhung Impeller
• Vertically Suspended
• Between Bearing
The market can be broadly divided based on stage segments into:
• Single Stage Pump
• Two Stage Pump
• Multi-Stage Pump
On the basis of flow type, the market is classified into:
• Axial Flow Pump
• Radial Flow Pump
• Mixed Flow Pump
Based on end-use, the market is divided into:
• Oil and Gas
• Waste and Wastewater
• Metal and Mining
• Food and Beverages
• Power Generation
Based on region, the market can be divided into:
• The Middle East and Africa
• North America
• The Asia Pacific
• Latin America
Centrifugal Pump Market Trends
Due to the rapid economic growth of nations like China, South Korea, Japan, India, Singapore, and Australia, among others, the Asia Pacific region is likely to have considerable growth in the centrifugal pump market. The investors are continuously investing in the manufacturing and production of centrifugal pumps because of a number of reasons like the availability of inexpensive labour, raw materials, and economic cases to channel capital flows in growing economies are all contributing to the growing interest among investors in the production and manufacturing of centrifugal pumps, which in turn is fueling the expansion of the regional market.
The market growth of centrifugal pumps in this Asia Pacific area is also anticipated to be helped by the increasing investment in R and D activities and expanding industrial activities in the region due to the support of local government and the region’s affordable manufacturing prices. The market for centrifugal pumps is anticipated to grow over the next few years in the region, which is likely to significantly contribute to the growth of the overall market during the forecast period.
This is due to the rising demand for centrifugal pumps in various end-use industries and market expansion strategies by pump manufacturers in the region.
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Key Market Players
The major players in the Global Centrifugal Pump market are:
• Ebara Corporation
• Circor International Inc.
• Schlumberger Limited.
• Sulzer Management Ltd.
• Pentair Plc
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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