WASHINGTON, Feb. 03, 2023 (GLOBE NEWSWIRE) -- According to the report, the Global Centrifugal Pump Market generated $ 36.1 Billion in 2021, and is estimated to reach $ 49.7 Billion by 2028, witnessing a CAGR of 5.5% from 2022 to 2028.
Vantage Market Research has recently published the comprehensive business research on Centrifugal Pump Market includes historic data, present market trends, future product environment, marketing strategies, technological innovation, upcoming technologies, emerging trends or opportunities, and the technical progress in the related industry. Centrifugal Pump Market research report gives critical information about the market and business landscape. It suggests how the company is perceived by the target customers and clients that are desired to reach. The report helps understand how to connect with customers, how to stack up against the competition, and how to plan next steps. It plays an important role in the process of developing products and services, bringing them to the marketplace, and marketing them to consumers. For many businesses, Centrifugal Pump Market report acts as a key component in developing marketing strategy by providing a fact-based foundation for estimating sales and profitability.
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Market Dynamics:
Drivers:
Extensive Application across a Wide Range of Industries and Increasing Construction Activities in Residential and Commercial Spaces
Centrifugal units have been driven by the ongoing need to increase pressure and deliver water to execute various activities in a variety of verticals, including food and beverage, maritime, metal manufacturing, chemicals, and many more. Viscosity, temperature, specific gravity, pressure, density, and vapor pressure of the working fluid are only a few variables that affect how these goods can be used in various capacities and sizes.
Over time, there has been a noticeable growth in the construction of new homes and businesses. In addition, various governmental and private organizations are investing much money in emerging and developed countries to renovate existing buildings and build new ones. These types of pumps help provide energy-efficient solutions to meet water transfer and HVAC (Heating, Ventilation, and Air-conditioning) needs in buildings and deal with fluctuating or low-pressure issues.
Growing Integration of Innovative Technologies to Efficiently Operate Product
A Centrifugal Pump Market is prone to pump different fluids having several contaminants that may impede the system's productivity. Therefore, maintaining the pumps' working conditions is essential to extending product life and overall efficiency. The ability to remotely diagnose problem conditions has been successfully shown by numerous industry participants using cutting-edge technologies, including network-based monitoring, the Internet of Things (IoT), and many others. For instance, at the international trade show ACHEMA, which was hosted in Germany, KSB displayed their new "KSB guard" platform to monitor pump systems utilizing network sensors. The ground-breaking innovation seeks to equip the pumps with temperature and vibration sensors to identify alterations in operating behavior for improved retrofitting and maintenance.
Top Players in Centrifugal Pump Market:
- Grundfos (Denmark)
- Xylem (US)
- KSB (Germany)
- Flowserve (US)
- Sulzer (Switzerland)
- Wilo (Germany)
- Weir (UK)
- ITT Corporation (US)
- CIRCOR International (US)
- Baker Hughes - A GE Company (US)
- Gardner Denver (US)
- Pentair (US)
- Ebara Corporation (Japan)
- Kirloskar Brothers Limited (India)
- Tsurumi Manufacturing (Japan)
- Leo (China)
- HCP Pump (Taiwan)
- Proril (Taiwan)
- CNP Pumps (India)
- PSP Pumps (India)
- Zhejiang Doyin Technology (China)
- Alfa Laval (Sweden)
- SPT Pumpen (Germany)
- Grindex (Sweden)
- Xavitech (Sweden)
- Vansan (Turkey)
- Griswold - A PSG Dover Company (US)
- Schlumberger (US)
- Mody Pumps (US)
- WEG (Brazil)
For Additional Information on Centrifugal Pump Market Players and Detail List, Download a Report PDF Brochure
Recent Developments:
In May 2020: Wilo expanded its presence with the establishment of a new headquarter and production facility in Cedarburg, Wisconsin, US. The new headquarters will bring the combined operations of Wilo USA, Weil Pump, Scot Pump, and Wilo Machine Co. to a single production site.
In April 2020: Pleuger expanded its presence in Singapore to strengthen its footprint in the Asian market.
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Regional Analysis:
Asia Pacific is expected to dominate the growth of Centrifugal Pump Market in 2021.A multifold expansion in manufacturing and processing industries will complement the region's outlook, which will accompany a rapidly rising energy demand. China, India, Japan, Australia, and Southeast Asian nations are major players in the region.
Segmentation of the Global Centrifugal Pump Market:
By Operation Type
- Electrical
- Hydraulic
- Air Driven
By Type
- Overhung Impeller
- Vertically Suspended
- Between Bearing
By Stage
- Single Stage
- Multistage
By End Users
- Industrial
- Commercial & Residential
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Centrifugal Pump Market Forecast Report (2022-2028).
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 36.1 Billion |
| Revenue Forecast by 2028 | USD 49.7 Billion |
| CAGR | 5.5% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Grundfos, Xylem, KSB, Flowserve, Sulzer, Wilo, Weir, ITT Corporation, CIRCOR International, Baker Hughes - A GE Company, Gardner Denver, Pentair, Ebara Corporation, Kirloskar Brothers Limited, Tsurumi Manufacturing, Leo, HCP Pump, Proril, CNP Pumps, PSP Pumps, Zhejiang Doyin Technology, Alfa Laval, SPT Pumpen, Grindex, Xavitech, Vansan, Griswold - A PSG Dover Company, Schlumberger, Mody Pumps, WEG |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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