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.
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.
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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