ID: MRFR/E&P/5882-HCR | February 2021 | Region: Global | 111 pages
Centrifugal Pump Market Size To Expand at a Notable CAGR Of 4.01% During 2020 - 2027.
Are you wondering what a centrifugal pump is? Here's the answer to your question. Pumps are mechanically designed devices. These pumps are designed to move liquids by the means of transfer of rotational energy through the impellers. There are many types of pumps that are used for various purposes. The different types of pumps are used in industrial and residential areas. Because they are used in different areas they have different properties. Centrifugal pumps are majorly used in the agriculture sector, municipal water, and wastewater plants, power generation plants, petroleum and chemical industries, and many more industries. There are many advantages of using centrifugal pumps. These advantages include steady delivery, easy to operate, can be mounted both horizontally and vertically, moves at higher speeds takes less time, and requires minimal maintenance. What is it that can stop you from buying a centrifugal pump? Looking at the various properties it offers, centrifugal pumps are the best product in the market. Many other factors include urbanization, water conservation, wastewater management, and infrastructural development. All these factors drive the growth of centrifugal pumps in the market.
COVID 19 Analysis
As for the current situation of coronavirus obviously, the centrifugal pump market has been affected drastically. With the hard times, there are hardly any people who are concerned about wastewater treatment and desalination. All these processes are currently at a stop. There is a pause in the centrifugal pump market which has caused severe losses in the business. Due to lockdown, there have been many industrial sectors that require a large number of centrifugal pumps but couldn't supply those due to restrictions in interstate or intercountry transfer. But it is expected by the year 2021 or 2022 things will get back to normal as the vaccination process has begun. With the process of vaccination, workers are getting back to industries and manufacturing and difficult pumps once again.
The most prominent major key players in the global market are as follows:
These most prominent major key players in the global market use various strategies to cater to the increasing need of the customer. They use various policies and strategies like developing the new production process, collaborations, mergers, and acquisitions, establishing a joint venture, innovation in the existing product, expansion of business, and partnership. This increases their customer base in the global potential market.
The global market is growing tremendously. There are video factors that drive the growth of the centrifugal pump market. Destructors include growing urbanization, a high focus on water conservation and wastewater management, and growing demands of people for conserving water. Also, there is a depletion in underground water increasing infrastructural development, especially in the industrial areas. As the growing concern towards ways to order treatment and desalination is continuing it drives the growth of the market.
The global market is growing tremendously. There are various opportunities in the path of the centrifugal pump market. These opportunities include growing demand for multi-stage pumps in commercial buildings, petrol, oil, and gas. Also, there is a demand for industrial processes service which drives the market for vertically suspended centrifugal pumps. Water and water centrifugal pumps are estimated to show the highest growth rate.
The global market is growing tremendously. There are various hindrances in the way of this smooth growth. These factors include the requirement of electricity, which is mostly not available in rural areas where groundwater reservoirs are in abundance. There are some underdeveloped municipal water and wastewater plants. There is always some efficiency problem in centrifugal pumps. Horizontal centrifugal pumps do not work for longer ranges. There are some time problems faced in maintenance and the speed of suction.
Value Chain Analysis
The global market is growing rapidly. There are various benefits of a centrifugal pump. The benefits contribute to the agriculture sector, municipal sector wastewater plants, power generation plants, petroleum, and chemical industries. Other advantages include steady delivery, ease to operate, can be mounted horizontally or vertically and moves at a very high speed, and requires less maintenance.
The centrifugal pump industry in the global market has been segmented into many segments based on type, stage and user, and region.
Based On The Type
The centrifugal pump industry in the global market has been divided based on type into overhang impeller, vertically suspended, and between bearing. According to the data it is estimated that leading markets off of vertically suspended segments are estimated during the forecasted period. The reason being for such estimates is due to the advantages such as the use of 75% less floor space when compared to a horizontal pump which works with electric motor drives.
Based On The End Users
The global market has been divided based on end-users into water and wastewater oil and gas chemical power and others. The wastewater segment is further estimated to register and show the highest growth rate during the forecasted period.
The global market has been divided based on region into North America Europe Asia Pacific and the rest of the world. The countries of North America such as the US have started the department of energy which states its plan for investment of USD hundred million for energy water desalination. This makes North America have the largest centrifugal pump market share. Also in their region industrial sectors have consumed a large volume of water, There are depletions in the reservoir of underground water. In addition to this people believe in reusing water. The region of Asia Pacific has the country China which was under the 13th 5-year plan. This plan invested around RMB 559 billion of its GDP only in the water treatment industry. It is followed by Europe which also is thought to grow in the forecasted period.
Improvements have been made in the agriculture sector, municipal water, and wastewater plant power generation plants, petroleum and chemical industries.
The Centrifugal pump market has improved in terms of steady delivery, easy to operate, and can be mounted easily both horizontally and vertically. In addition, features such as moving at high speed with minimal maintenance are available in the centrifugal pump. This makes its purchase even higher.
Other enhancements are made in terms of urbanization and how people are focusing more on water conservation and wastewater management. All this has led to increasing demands for centrifugal pumps. This is how the market value rises.
There are developments also made in the infrastructure especially in the industrial region. This changes the complete market outlook.
The world has started taking care of wastewater treatment and desalination problems. This has added to market trends, making its demand even higher.
The global centrifugal pump market research report consists of the following elements:
This global centrifugal pump market research report consists of the factors that drive the global market along with the factors that restrict the global market. This report also contains various growth opportunities in the global market during the forecasted period. The impact of COVID 19 on the market is also estimated. The future growth rate of the global market is mentioned
|Market Size||2030: Significant Value|
|CAGR||~4.01% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||type, stage, end-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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)|
|Key Market Opportunities||growing investments in infrastructure and water & wastewater treatment plants globally|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The estimated centrifugal pump market CAGR during the forecasted period is approximately 4.01%.
The different driving forces that enhance the centrifugal pump market size are the growing investments in infrastructure and water and waste management treatment plants. There are also upgrades made in the dewatering system which requires centrifugal pumps to pump the water. In addition to this water and wastewater treatment industries have enhanced, making centrifugal pump market revenue higher.
The major key players of the global centrifugal pump market are as follows-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),Weir (UK)
According to the research report, the various segmentations that are made in the centrifugal pump market are based on type stage end-user and region.