Global Centrifugal Water Pump Market was valued USD 31.50 billion in 2018 and is expected to reach USD 40.25 billion by 2026 at a CAGR of 3.81% during forecast period.
Centrifugal pump is a mechanical device designed to move liquid by means of the transfer of rotational energy through impellers. These types of pumps are mainly used for pumping water in the industrial and residential properties.
- Developing countries such as India and China are focusing on industrialization, thereby supporting the growth of centrifugal pumps.
- Advanced pump automation, increasing efficiency, and decreased energy usage of these pumps are the major factor boosting the growth of the centrifugal pumps market.
- Rising exploration activities for new sources of water and replacement of existing pumping systems & production plants with advance technologies have also encouraged the market growth.
- Urbanization along with increasing demand for water from agricultural sector is anticipated to boost the demand for centrifugal pumps
- Increasing investment for desalination plants across the world will propel centrifugal pumps market.
- Developments in the industrial sector, mainly in power, energy and agriculture, have considerably increased the current demand for centrifugal water pumps.
- Benefits of centrifugal pump include fast delivery, easy to operate, can be mounted horizontally or vertically, and it moves at high speeds with minimal maintenance will drive the market.
Global Centrifugal Water Pump Market Restrains:
- Inability of function with high pressure and troubles in dealing with viscous liquids are accounted to be as restraints of the market growth
Global Centrifugal Water Pump Market opportunities
- According to India Brand Equity Foundation (IBEF), India would require an investment USD 777.53 billion in infrastructure by 2022, to ensure sustainable development in the country. This would in turn increase the demand for centrifugal pumps.
- In December 2018 the US Department of Energy (DOE) stated that it plans to invest USD 100 million for energy water desalination hub.
- China, under the 13th Five-Year-Plan (2016-2020), has planned to invest around RMB 559 billion or 0.75 percent of its GDP on its water treatment industry.
Global Centrifugal Water Pump Market Regional Analysis
Asia-Pacific is expected to lead the Global Centrifugal Water Pump Market during forecast period (2018-2026). Owing to a massive rise in infrastructure development activities, particularly in emerging economies such as China, India, and Indonesia. Additionally, Most of the countries in the Asia-pacific region have positive outlook pertaining to industries such as water & wastewater, etc. and Urbanization along with increasing demand for water from agricultural sector is anticipated to boost the demand for centrifugal water pumps market.
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Centrifugal Water Pump Market : Global Forecasting and Analysis (2023-2029)
Scope of Global Centrifugal Water Pump Market
Global Centrifugal Water Pump Market Segmentation by Pump Type
- Overhung Impeller
- Vertically Suspended
- Between Bearing
Global Centrifugal Water Pump Market Segmentation by Stage
- Single Stage
- Multistage
Global Centrifugal Water Pump Market Segmentation by End User
- Industrial
- Commercial and Residential
Global Centrifugal Water Pump Market Segmentation by Region
- Asia Pacific
- Europe
- North America
- Middle East and Africa.
Global Centrifugal Water Pump Market Major Key Players
- TT (US)
- Flowserve (US)
- KSB (Germany)
- Sulzer (Switzerland)
- Grundfos (Denmark)
- Xylem Inc.
- Sulzer
- Danfoss A/S
- Wilo SE.
- Weir Group PLC.
- Ebara Corporation
- Colfax Corporation
- Alfa Laval.
- Tsurumi Manufacturing Co., Ltd.
- Kirloskar Brothers Ltd.
- DESMI A/S
- WPIL Limited
- HERMETIC-Pumpen
- Shakti Pumps (India) Ltd.
- Klaus Union.
- Ruhrpumpen Group
- HOMA Pumpenfabrik GmbH
- CP Pumpen AG,
- Toyo Denki Industrial Co. Ltd.
- Speck Pumpen Walter Speck GmbH & Co.
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