Hot Water Circulator Pump Market Scenario
The
hot water circulating pumps market 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.
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.
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.
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.
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.
Global Hot Water Circulator Pump Industry
Segmentation
The
global hot
water recirculation 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.
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.
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