New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Centrifugal Pump Market Size, Share, Report, Demand, Growth Strategy, Industry Trends and Forecast to 2028 – by Stage (Single Stage and Multistage), Operation Type (Electric, Hydraulic, and Air Driven), Type (Overhung Impeller, Vertically Suspended, and Between Bearing), and Sector (Oil and Gas, Chemicals and Petrochemicals, Mining, Power Generation, Automotive, Agriculture, HVAC, Wastewater Management, and Others) "; the global centrifugal pump market size is expected to reach USD 36.87 billion by 2028 from USD 25.15 billion in 2021; it is estimated to grow at a CAGR of 5.6% from 2021 to 2028.
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Global Centrifugal Pump Market Report Scope, Segmentations, Regional & Country Scope:
| Market Size Value in | USD 25.15 Billion in 2021 |
| Market Size Value by | USD 36.87 Billion by 2028 |
| Growth rate | CAGR of 5.6% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 180 |
| No. of Tables | 78 |
| No. of Charts & Figures | 86 |
| Historical data available | Yes |
| Segments covered | Stage , Operation Type , Type , and Sector |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | EBARA CORPORATION, Grundfos Holding A/S, KIRLOSKAR BROTHERS LIMITED, KSB SE & Co. KGaA, PLEUGER INDUSTRIES, Sulzer Ltd, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd., WILO SE, and Xylem |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Global Centrifugal Pump Market Forecast to 2028 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00009326/ |
Global Centrifugal Pump Market: Competitive Landscape and Key Developments
EBARA CORPORATION, Grundfos Holding A/S, KIRLOSKAR BROTHERS LIMITED, KSB SE & Co. KGaA, PLEUGER INDUSTRIES, Sulzer Ltd, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd., WILO SE, and Xylem Inc. are among the major companies operating in the centrifugal pump market.
In 2021: EBARA Pumps Europe launches the Model EVMS-K Pump. The Model EVMS-K Pump is a new product that combines the Model EVMS Pump and the Model E-SPD Inverter, both of which are EPE products. It is possible to conserve energy by integrating a motor with an inverter, drive a pump more efficiently, minimize installation space, and simplify wiring and installation labor.
In 2020: KBL is now the first Indian pump manufacturing company to receive the prestigious Integrated Management System (IMS) certification for four single stages, namely ISO 9001: 2015, ISO 14001: 2015, ISO 45001: 2018 and ISO 50001:2018 by the certification Body, M/s TUV-SUD.
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Centrifugal pumps are widely used equipment in wastewater treatment facilities. Developed regions such North America and Europe have modern wastewater management facilities with well-established practices; however, in developing regions such as Asia Pacific and Middle East & Africa, the popularity of such practices is gradually increasing. According to the World Health Organization (WHO), ~50% of the total population is anticipated to live in water-stressed regions by 2026. According to Sustainable Water Alliance, countries such as Iran and Saudi Arabia are anticipated to deploy several new water and wastewater facilities by 2026. Moreover, in June 2021, an official of Saudi Water Partnership Company (SWPC) announced its plans to partner with the Saudi Arabian private sector with an investment of US$ 4 billion for water and wastewater projects. Under these projects, the country aims to deploy 158 projects, including 11 desalination plants and 147 wastewater plants, which would be operational by end of 2023. Meanwhile, in 2021, China’s National Development and Reform Commission made announcements regarding its plans to improve sewage water treatment capabilities as well as to focus on the conversion of sewage into reusable resources by 2026. Thus, such initiatives by governments are generating ample growth opportunities for the centrifugal pump market players.
The centrifugal pump market has been segmented into three major regions—Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA). In 2020, APAC held the largest share of the market, followed by Europe and the MEA. The expansion of the centrifugal pump market in APAC is attributed to the region's development strategies, including the surging infrastructure investments. China reports the largest sales of centrifugal pumps. However, economic difficulties in China and the Eurozone have led to deceleration in the sales of these pumps, and the same is expected in the coming years. Moreover, the negative impact of falling oil and gas prices is another factor contributing to the projected slowdown in the global centrifugal pump market growth in the coming years. Further, Europe is experiencing significant adoption of modern farming practices such as hydroponics and vertical farming, creating substantial opportunities for centrifugal pump market players. The MEA centrifugal pump market is expected to grow exponentially during the forecast period due to flourishing infrastructure in the commercial sector in several countries in the region.
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The centrifugal pump market is segmented based on stage, operation type, type, sector, and geography. Based on stage, the centrifugal pump market is sub-segmented into single stage and multistage. Based on operation type, the centrifugal pump market is categorized into electric, hydraulic, and air driven. Based on type, the market is segmented into overhung impeller, vertically suspended, and between bearing. Based on sector, the market is segmented into oil and gas, chemicals and petrochemicals, mining, power generation, automotive, agriculture, HVAC, wastewater management, and others. Additionally, based on region, the centrifugal pump market is segmented into Europe, Asia Pacific, and Middle East & Africa.
Impact of COVID-19 Pandemic on Centrifugal Pump Market:
According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst-affected countries due to the COVID-19 pandemic. In 2020, the world economy suffered severe consequences of the global outbreak. The pandemic has led to disruptions in primary industries including electronics, semiconductor, and manufacturing. A sharp decline in the growth of mentioned industries is limiting the centrifugal pump market growth.
The overall centrifugal pump market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the centrifugal pump market with respect to all the segments. It also provides the overview and forecast for the global centrifugal pump market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the centrifugal pump market.
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