Increase in urbanization and infrastructure developments coupled with high crude oil prices, growing energy efficiency by using pumps, growing FDI in emerging countries, increase in the number of water waste treatment plants and technological advancements by market leaders are expected to positively impact market growth

Centrifugal Pumps Market Size – USD 61.63 Billion in 2021, Growth - CAGR of 4.9%, Trends – Increase in infrastructural developments.

The global Centrifugal Pumps market is forecast to reach USD 95.09 Billion by 2030, according to a new report by Reports and Data. Centrifugal Pumps find their application in various sectors and help in mainly transferring liquids from one location to another.

Technological trends like the introduction of magnetic drive pumps, intelligent pump systems, and next-generation industrial automation are boosting the growth of this market. Rapid infrastructural development is another driving factor. APAC countries are witnessing rapid construction which in turn is boosting the market for Centrifugal Pumps. Demand for Centrifugal Pumps from process and manufacturing industries is a significant driving factor. The rise in product energy pumps for the transportation and extraction of oil and natural gas is having a positive effect on the market. Increase in crude oil price is also boosting the demand for the market as it fuels the energy sector’s revenue.

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Top Companies: Flowserve Corporation (U.S.), Grundfos Holding A/S (Denmark), ITT Inc. (U.S.), Suzler Ltd. (Switzerland), Titan Manufacturing Inc. (U.S.), Ebara Corp. (Japan), Weir Group PLC (Scotland), Schlumberger Ltd. (U.S.), Baker Hughes Inc. (U.S.), and Clyde Union Inc. (Scotland) among others.

Further Key Finding from the Report Suggestion:

• The operation of an intelligent motor-pump system in an integrated, coordinated manner can achieve unprecedented and important capabilities for protecting critical processes, process equipment, operations personnel, and the environment. This system also provides a basis for dynamic optimization of critical operating and financial objectives such as long MTBF, low life-cycle cost, or low cost per gallon pumped. Future intelligent systems will provide the basis for next generation CBM systems, future distributed intelligent systems, and autonomous, agent-based systems. These emerging trends are driving increasing automation in the industry
• Centrifugal pumps holds a major share of the Pump Type segment and are expected to maintain this leading position in the Industrial Pump industry during the forecast period
• Water and wastewater treatment plants have a very large market share in the End Use segment. Increase in desalination efforts and regulations curtailing the dumping of industrial wastes will enhance the demand for Centrifugal Pumps in this sector
• The construction sector is forecasted to have a high CAGR of 6.1% throughout the forecasted period. The construction boom being seen in the APAC region is pushing the demand for Centrifugal Pumps from this sector
• Oil and Gas occupy a significant market share and is forecasted to generate high revenues for the industrial pump market
• Growth in process manufacturing activity will result in an increase in demand for positive displacement pumps

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Centrifugal Pumps Market is segmented into:

Type Outlook (Revenue, USD Million; 2019-2030)

• Centrifugal Pumps
• Reciprocating Pumps
• Rotary Pumps
• Diaphragm Pumps

Capacity Outlook (Revenue, USD Million; 2019-2030)

• Small Capacity Pumps
• Medium Capacity Pumps
• High Capacity Pumps

End Users Outlook (Revenue, USD Million; 2019-2030)

• Construction
• Water and wastewater
• Chemicals
• Oil Gas
• Power Generation
• Others

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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