“The centrifugal pump market is projected to grow at a CAGR of 3.83%, from 2022 to 2031.”
The Centrifugal Pump Market is projected to grow from an estimated USD 30.65 billion in 2022 to USD 36.98 billion by 2031, at a CAGR of 3.83%, from 2022 to 2031. Increasing investments in modernizing water and wastewater infrastructure, infrastructure development, and power generation in emerging economies and the growth of industries such as chemicals and manufacturing is driving the market for centrifugal pumps across the world.
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“The industrial segment is expected to hold the largest share of the centrifugal pump market, by end-user, during the forecast period.”
The industrial segment of the global centrifugal pump market is expected to grow at a fast pace during the forecast period. This can be attributed to rapid growth in industrialization and urbanization across the world. Use of centrifugal pumps in industries such as water and wastewater, oil & gas, process industries, chemicals, and mining is increasing due to their high efficiency, wide capacity range, flow rate, and ease of operation and maintenance.
“Asia Pacific: The largest market for centrifugal pumps.”
Asia Pacific is the largest market for centrifugal pumps, followed by Europe and North America. While China will continue to drive demand, growing industrial demand and increasing investments in infrastructure development in emerging economies such as India, Thailand, and Malaysia are expected to boost the demand for centrifugal pumps. Furthermore, rising standards of living and growing urbanization, along with the rising demand for proper sanitation are driving the centrifugal pump market in Asia Pacific.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 55%, Tier 2- 25%, Tier 3- 20%
By Designation: C-Level- 35%, D-Level- 30%, Others- 35%
By Region: North America- 15%, Europe- 20%, Asia Pacific- 25%, South America- 10%, Middle East- 25%, and Africa- 5%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 = The leading players in the centrifugal pump market are ITT (US), KSB (Switzerland), Flowserve (US), Sulzer (Switzerland), and Ebara (Japan).
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The report provides a picture of the centrifugal pump market across the pump industry and regions. It aims at estimating the market size and future growth potential of the market across different segments such as type, stage, end-user, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
For the purpose of this report, the market has been segmented on the basis of type, end-user, stage, and region, with a focus on industry analysis (industry trends), market ranking analysis of the top players, supply chain analysis, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the centrifugal pump market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the centrifugal pump market
• Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the markets for centrifugal pumps across regions
• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global centrifugal pump market
Why Buy this Report?
1. The report identifies and addresses key markets for the implementation of centrifugal pumps in various industries, which would help manufacturers review the growth in demand.
2. The report helps solutions providers understand the pulse of the market and provide insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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