Centrifugal Pumps Market Continues to Grow as Demand for Efficient and Reliable Pumping Solutions Increases Says Future Market Insights, Inc.
Exploding Construction Sector to drive the Centrifugal Pump Market, growing at a rate of 4.6% in the forecast period 2021 to 2031. Demand in the Canada centrifugal pumps market to increase at 4% CAGR. Germany to present attractive market opportunities due to rising applications in pharmaceutical, chemical and food processing sector.
NEWARK, Del, March 21, 2023 (GLOBE NEWSWIRE) -- The global centrifugal pump market was worth US$ 29 Billion in the year 2021 and is expected to witness a CAGR of 4.6% between 2021 and 2031.
The construction vertical is witnessing tremendous growth, which is expected to take the centrifugal pump market to a new ‘high’ going forward. It is connected in several industry verticals for transferring liquids efficiently in bulk volumes and delivering optimum dynamic head as well as flow rates to fluids.
Centrifugal pump is subject to pump diverse fluids that contain numerous impurities. These may, in turn, hamper the productivity of the system on the whole. Several industry participants have obtained success in demonstrating advanced technologies such as the IoT, network-based monitoring, and several others for remotely diagnosing fault conditions. On these grounds, KSB did present its novel platform called ‘KSB guard’ for monitoring pump systems using various network sensors at ACHEMA held in Germany.
Download a sample to obtain additional highlights and key points on various market segments and their impact in the coming years:
At the same time, the fact that these pumps operate by rotation of impellers in place of imparting suction power for pumping liquid out of and in the systems can’t be ignored. Priming could minimize intake of air, thereby generating weak pull. Cavitation results out of vaporization of water in the pumps owing to the systems’ higher speed. The bubbles’ higher rotation rate and implosion could cause corrosion in impellers and pump casing; thereby restraining the market.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Centrifugal Pump Market’. It has a team of analysts and consultants to deploy an eagle’s eye view in its primary, secondary, and tertiary modes of research.
“With commercial & residential infrastructure at its peak, the global centrifugal pump market is expected to grow graciously in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Centrifugal Pump Market
North America holds the largest market share with the US being subject to an excessive need for water in the wake of depletion of subterranean water reservoirs.
The MEA is expected to grow at a substantial rate in the centrifugal pump market in the forecast period due to new-fangled investments in oil & gas sector. Plus, there is an ever-increasing emphasis on generating more power.
Europe holds a sizable market share on the back of growing deployment of space cooling and heating systems along with setting up new power plants in the UK, France, Russia, Germany, and Italy.
The Asia-Pacific is expected to grow at a rapid pace in the centrifugal pump market with manufacturing and processing verticals growing manifold. The torchbearers include India, China, Australia, Japan, and Southeast Asian countries.
Ask an Analyst: https://www.futuremarketinsights.com/ask-question/rep-gb-498
WILO USA, in November 2020, did inaugurate its new HQ at Cedarburg (Wisconsin).
Xylem, Inc., in April 2021, entered into partnership with Esri (a leader in location intelligence). They do serve utilities all across. Working together, they would be pursuing joint technical road mapping, collaborative selling, joint marketing, and solution development.
Kirloskar Brothers, in June 2021, did announce launching a novel manufacturing device – Advanced technology Product Division for nuclear end-use applications inclusive of specialized pumps.
Sulzer, in November 2020, inked a contract with Ringkobing-Skjern Fosyning A/S (Danish Water Utility Firm) for providing pumps for Denmark’s main flood defense project. As such, the company has built 2 novel pumping stations for mitigating rising water levels during drainage, rain, and cloudburst water. It would thus be supplying an XFB baseload pump with 3 VUPX peak load pumps for Ringkobing pumping station.
IDEX Corporation, in April 2021, inked a definitive agreement for acquiring Airtech Group Inc., US Valve Corporation, and entities concerned from the investment funds managed through EagleTree Capital for cash consideration of US$ 470 Million. The company designs as well as manufactures a broad spectrum of engineered pressure technology inclusive of regenerative blowers, centrifugal pumps, valves, and compressor systems.
Alfa Laval AB, in September 2020, signed a contract for supplying two FPSO (Floating, Production, Storage, and Offloading) vessels to Framo pumping systems. These orders do have total value of close to SEK 130 Million. These two orders constitute centrifugal pumping systems for seawater lift services and firewater services.
Ebara Corporation, Flowserve Corporation, Grundfos, Wier Group, KSB Group, Shakti Pump, Tsurumi Manufacturing Co., Ltd., DESMI A/S, WPIL Limited, HERMETIC-Pumpen GmbH, Klaus Union GmbH & Co. KG, Ruhrpumpen Group, HOMA Pumpenfabrik GmbH, CP Pumpen AG, Toyo Denki Industrial Co. Ltd., and Speck Pumpen Walter Speck GmbH & Co. KG are some prominent players in the centrifugal pumps industry
Centrifugal Pumps Market by Category
By Product Type:
Single Stage Pump
Multi Stage Pump
Axial & Mixed Flow Pump
Seal Less & Circular Pump
By Application Type:
Industrial Centrifugal Pumps
Oil & Gas
Water & Wastewater
Food & Beverage
Agricultural Centrifugal Pumps
Domestic Centrifugal Pumps
South Asia & Pacific
Middle East and Africa (MEA)
Expand operations in the future To get requisite details, ask for a custom report:
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
1.5. Technology Roadmap
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation/Development Trends
4. Key Success Factors
4.1. Product Adoption/Usage Analysis
4.2. Product USPs/Features
4.3. Strategic Promotional Strategies
Know more about this market's geographical distribution along with a detailed analysis of the top regions:
Explore FMI’s Extensive Coverage on Industrial Automation Domain:
Screw Conveyor Market Review: Registering a year-on-year growth of 3.7%, the global screw conveyor market is forecast to reach US$ 884.2 million by the end of 2022. Overall screw conveyor sales are slated to increase at a CAGR of 4.8%
Gaskets and Seals Market Overview: The gaskets and seals market has witnessed a CAGR of 5.4%, from 2018 to 2022 to achieve US$ 86.6 billion by 2023.
Polymer Seals Market Forecast : The global polymer seals market was estimated to have reached a value of US$ 11.3 billion in 2022. From 2022 to 2032
Carbide Tools Market Key Trends: Sales in the global carbide tools market are slated to top US$ 7.6 Billion in 2023. Expanding at a healthy 7.1% CAGR, the market size is projected to total US$ 15 Billion by 2033.
Industrial Robotics Market Research: The global industrial robotics market is estimated to surpass US$ 220 billion by the end of 2033. The market is rising at a CAGR of 18.9% during the forecast period 2023 to 2033.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
LinkedIn | Twitter | Blogs | YouTube
Source: Centrifugal Pumps Market will grow gradually at 4.6% CAGR by the end of 2031- Future Market Insights, Inc.