Hot
Water Circulator Pump Market Scenario
The hot water circulating pumps are
such devices that allow the flow of hot water through the circuit of pipelines.
As per the report published by Market Research Future (MRFR), the global hot
water circulation pump market is anticipated to project steady expansion at a
CAGR of 3.14% and reach the valuation of USD 22,083.3 Mn by the end of 2021.
Energy efficiency is at the
forefront of the building design and infrastructure regulations which has
provided an impetus to the hot water circulator pump market. Hot water
circulator pumps are capable of delivering the exact required output with
minimum electricity and far less maintenance cost which results in significant
cost and energy saving. Hot water circulator pumps are highly desirable within
the context of growing energy as well as water scarcity. These pumps operate in
an optimal manner and are useful in buildings with long water distribution
systems. Riser in the construction of multi-story buildings has added to the
market growth.
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Industry
Highlights
The increasing adoption of energy
efficient technologies and a fast-paced infrastructural development are pushing
the demand for hot water circulator pump around the world, thereby pushing the
market growth. Hot water circulation pumps are used across various industrial
sectors. Industrial development is one of the key drivers of the global market.
The growing integration of hot water circulator pumps both for domestic and
commercial purposes is pushing the growth of the market as well. However, the
high costs linked with these pumps and the additional maintenance and
installation charges can dampen the growth of the market during the forecast
period.
Global
Hot Water Circulator Pump Industry Segmentation
The global hot water circulation
pump market segmentation is based on the following dynamics: application and
type.
By type, the market is segmented
into single-stage and multi-stage pump. Herein, the single-stage pumps segment
holds the highest share of the market, edging past the multi-stage pump
segment. The rising preferences among consumers for single-stage pump for
residential requirements has been one of the biggest factors behind the growth
of this segment. Additionally, the low cost of maintenance compared to
multi-stage pumps is another key reason pushing the demand for single-stage pumps.
By application, the market includes
industrial, residential, and commercial. The industrial segment holds the
leading position in the global hot water circulator pump market. The segment is
further anticipated to garner considerable growth over the forecast period to
remain at the top of the market standings. The growth of the market is due to
the high need for hot water circulation pump across various industries like
power plants, textile, food and beverages, pharmaceuticals, chemicals, and
others.
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Regional
Analysis
By region, the hot water circulator
pump market has been segmented into the US, Rest-of-the-World (RoW), China,
Europe, and Japan.
Europe is the dominant market for
hot water circulator pump. Energy efficiency is a major focus of the European
Union which has reflected positively on the growth of the Europe hot water
circulator pump market. The governments in the region have set stringent
efficiency standards for energy-related products. Moreover, green buildings
have become a common phenomenon in Europe and builders are required to adhere
to EU pump efficiency regulations to earn green building certification which is
favoring the growth of the market. The UK, France, and Germany are the key
contributors to the Europe hot water circulator pump market.
The US is the second largest market
for hot water circulator pump and is a relatively mature market. Continued new
building construction activities in the US along with robust demand from the
residential sector is boosting the growth of the US market.
Competitive
Landscape
AUMA Riester GmbH & Co. KG
(Germany), BacoEngineering.com (UK), Emile Egger & Cie SA (Switzerland),
Grundfos (Denmark), Armstrong Fluid Technology Limited (Canada), Flowserve
Corporation (US), Taco (US), Saer Elettropompe SpA (Italy), Calpeda S.p.An
(Italy), and Xylem Inc (US) are the distinguished players in hot water
circulator pump market.
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