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.
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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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Prominent 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).
Segmental Analysis:
Global
centrifugal pump market has been segmented based on type, stage, end-user, and
region. Based on type, the market is classified into overhung impeller,
vertically suspended, and between-bearing. Vertically suspended is expected to
be one of the leading markets during the forecast period due to advantages such
as it used 75% less floor space compared to horizontal pumps with electric
motor drives. Therefore, an increase in the demand for multistage pumps in
commercial buildings, petroleum, oil & gas, and industrial process services
are the major factors driving the market for vertically suspended centrifugal
pumps. The global centrifugal pump market is further segmented based on end-user,
including water & wastewater, oil & gas, chemical, power, and others.
Water and wastewater segment of the global centrifugal pump market is estimated
to register the highest growth rate during the forecast period.
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