Hot
Water Circulator Pump Market Scenario
The
global hot water circulator pump market is projected to reach USD 22,083.3 Mn
at a CAGR of 3.14% over the forecast period of 2017-2021, affirms Market
Research Future (MRFR) in an in-depth study. In terms of volume, the market is
anticipated to attain 42.07 Mn units at a CAGR of 2.26% by the end of 2021. 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 Hot
Water Circulator Pump Market Share.
Building
owners are focusing on reducing lifecycle cost in equipment and overall
building costs. Sustainable housing schemes and green buildings extensively
make use of these pumps. Reviving construction of new buildings in developed
economies paired with the rapid residential construction in the developing
countries has paved the way for the growth of the hot water circulator pump
market. Furthermore, an increase in the construction of commercial
establishments such as hotels, office buildings, healthcare facilities, and
others is also expected to drive the market.
Segmentation
The
global hot water circulator pump market has been segmented based on type and
application.
By
type, the hot water circulator pump market has been segmented into single-stage
pump and multistage pumps. The single-stage segment accounts for the maximum
share of the market. Single stage pumps are extensively used for residential
purpose due to its lower maintenance cost as compared to multistage pumps due
to which the segment is growing exponentially.
By
application, the hot water circulator pump market has been segmented into
residential, commercial and industrial. The residential segment accounts for
the most significant share of the market followed by commercial and industrial.
High demand from the residential sector is substantiating the growth of the
segment.
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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