Centrifugal Pump
Market Research Report – Global Forecast till 2023
Centrifugal Pump is a type of pump that uses
impeller to move water or other fluids. These pumps are used to induce flow by
increasing the pressure of the fluid. The centrifugal pump is commonly used in
industries such as water & wastewater, power, chemical, oil & gas, and
others. Advantages of centrifugal pump includes easy to handle, compact in
size, and can be used to lift highly viscous liquid such as paper pulp, muddy
and sewage water, sugar molasses, and oil. A detailed
analysis report of COVID-19 impact on
Centrifugal Pump Market Share is provided with the
report.
The global centrifugal pumps
market began to expand its worth and valuation since 2017, after some
instability which was witnessed in the past few years due to the downturn in
the oil & gas upstream sector mainly. However, continuous increase in
expenditure in the market resulted to be positive on account of increasing
crude oil price and an increase in activity, especially in North America.
By this development, the
long-term outlook of the centrifugal pumps market is predicted to remain
positive with the market value on the track to register at a CAGR of 4.01% by
the year 2022. Market Research Future delivers key insights and presents a
revised forecast of the global centrifugal pump market in its latest report.
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Global
Centrifugal Pumps Market Segmental Analysis
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.
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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).
Regional Outlook
Region wise, North America held the largest market
share of the global Centrifugal Pump market in 2017. It is estimated that
Asia-Pacific region would be the fastest growing market during the forecast
period, mainly due to the rising investment infrastructure development.
Moreover, he increased demand from the water and wastewater sector, moderate
demand from constructions sector, rising urbanization, and supportive
government plans are expected to drive the market for centrifugal pumps in Asia
Pacific region. The pumps market would be mainly driven by the growing need for
water conservation in the countries such as US and Canada.
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