Centrifugal Pump Market by Type (Between Bearing, Overhung Impeller, Vertically Suspended), Stage (Multistage, Single Stage), Impeller Type, Flow, Operation Type, Distribution Channel, End-Use - Global Forecast 2024-2030

Centrifugal Pump Market by Type (Between Bearing, Overhung Impeller, Vertically Suspended), Stage (Multistage, Single Stage), Impeller Type, Flow, Operation Type, Distribution Channel, End-Use - Global Forecast 2024-2030

The Centrifugal Pump Market size was estimated at USD 41.94 billion in 2023 and expected to reach USD 44.42 billion in 2024, at a CAGR 6.19% to reach USD 63.89 billion by 2030.

A centrifugal pump is a mechanical device created to move fluids by the transfer of rotational energy from a single or more driven rotor, called an impeller, to the fluid. The rotational energy emerges from an electric motor or an engine. These pumps are widely used across various industries because they are efficient in handling high flow rates, capable of adjusting to changes in the system head, have relatively simple construction, and are compatible with a broad spectrum of fluids. The expansion of centrifugal pumps can be attributed to several key factors. The global increase in water infrastructure projects and industrial growth, particularly in the chemicals, water & wastewater treatment, and oil & gas sectors, along with advancements in technology leading to more energy-efficient models, are prominent drivers. Furthermore, the versatility and scalability of these pumps make them adaptable to various applications, boosting their demand. Despite their many advantages, centrifugal pumps do possess certain challenges, including their performance being significantly affected by the viscosity of the fluid. They are also prone to cavitation if not operated within their designed parameters, which can cause damage to the impeller and affect the pump's overall efficiency. Addressing these challenges involves proper pump selection, ensuring that the pump design is suitable for the application, and maintaining an optimal operation range. Additionally, advancements in pump design and materials can reduce susceptibility to cavitation and wear, extending the lifespan and reducing maintenance needs. There's also an increasing adoption of smart centrifugal pumps equipped with sensors for real-time monitoring and integration with the Internet of Things (IoT) for improved efficiency and predictive maintenance.

Regional Insights

In the Americas, particularly in North America, there is a robust demand for centrifugal pumps primarily driven by the oil and gas sector, alongside wastewater treatment and chemical industries. The region is also home to some leading centrifugal pump manufacturers, which cater to local demand and export significantly due to their technological advancements and product reliability. Conversely, in the APAC region, rapid industrialization, infrastructure development, and agricultural expansion predominantly fuel the demand for these pumps. Countries such as China and India are among the largest consumers and have also emerged as significant producers, hosting numerous local companies that compete fiercely on price and customization, expanding their presence in domestic and international markets. The EMEA region, with its diverse industrial application spectrum ranging from water & wastewater management in the Middle East to chemical processing in Europe, has a steady demand for centrifugal pumps. The competitive scenario in EMEA is quite mature, with a mix of established European manufacturers known for their high-quality, energy-efficient pumps and emerging players from the Middle East focusing on servicing the oil and gas industry.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Centrifugal Pump Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing investments and initiatives for offshore deep-water oil & gas fields and wastewater treatment
Exponential popularity of automatic centrifugal pumps
Growing focus on improving energy efficiency of pumping systems

Market Restraints

Pricing pressure due to fluctuation in availability of cast iron or aluminum

Market Opportunities

Use of IoT and AI to revolutionize centrifugal pumps
Advancements in pump manufacturing with 3D printing

Market Challenges

Limitations in the numerical analysis of centrifugal pumps

Market Segmentation Analysis

Type: Exponential utilization of between bearing pumps for high-pressure and high-flow conditions
End-Use: Increasing potential of customized centrifugal pumps in industrial settings

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Centrifugal Pump Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Centrifugal Pump Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

ITT Inc. Entered Into a Contract with ExxonMobil for the Supply API-610 Centrifugal Pump Systems and Aftermarket Services

ITT Inc. has been awarded a three-year agreement by ExxonMobil to provide API-610 centrifugal pump systems, related products, and engineered services. This contract, valuing a minimum of USD 50 million with the potential to reach USD 80 million, marks the most substantial agreement ever for Goulds Pumps, ITT's division specializing in industrial pumps and valves. The agreement entails supplying heavy-duty pump systems for ExxonMobil's operations across North America, focusing on reducing overall costs and streamlining project timelines through advanced ITT technologies and a dedicated support team for seamless agreement execution.

Michael Smith Engineers and SAWA Pumpentechnik Partnered to Advance Hygienic Pump Solutions in the UK

Michael Smith Engineers Limited formed a distribution partnership with SAWA Pumpentechnik AG, broadening Michael Smith Engineers' product range with high-quality hygienic solutions and signifies a mutual commitment to excellence within the pump industry. This agreement is poised to deliver innovative clean pump solutions, fulfilling a critical need in the UK's industrial sector by merging advanced technology with established market access and expertise.

Xylem Launched e-80SCXL, a Vertical In-Line Centrifugal Pump

Xylem launched the e-80SCXL, a vertical in-line centrifugal pump designed for high flow and head applications. With a simple installation process and low operating costs, this pump integrates multiple seal options and an expansion of 10 large in-line models. It is compatible with 60 Hz TC-face NEMA Premium motors and incorporates the optimyze condition monitoring solution, enhancing operational efficiency through predictive maintenance alerts for vibrations and temperature anomalies.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Centrifugal Pump Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Centrifugal Pump Market, highlighting leading vendors and their innovative profiles. These include Aipu Solids Control, Ajay Engineers, Alfa Laval AB, ANDRITZ AG, Apex Fluid Engineering Ltd., Aquatech Dewatering Company, Inc., Asia Waterjet Equipment, AxFlow Group, Baker Hughes Company, Bedu Pompen BV, Circor International, Inc., Cornell Pump Company, Dalian Yuankun Machinery Equipment Co., Ltd., Dover Corporation, Ebara Corporation, EDUR-Pumpenfabrik, Empowering Pumps and Equipment, Eurofiliales, Flowserve Corporation, FLUX-SPECK Pump Co., Ltd., Gardner Denver Inc., Gotesco Marketing, Inc., Grundfos Holding A/S, InoxMIM, Inoxpa India Pvt. Ltd., ITT Blakers, Keyflow International Co., Ltd., Kirloskar Brothers Limited, KSB SE & Co. KGaA, Landustrie Sneek BV, Michael Smith Engineers Ltd., Neles Corp. by Valmet Oyj, Pentair, Pure Aqua, Inc., Royal Eijkelkamp, Ruhrpumpen Group, Sintech Precision Products Ltd., Sintorn (1994) Co., Ltd., Someflu, SPP Pumps Ltd., Star Pump Alliance GmbH, Sulzer Ltd., Tapflo Group, The Weir Group PLC, Timsa, Torishima Pump Mfg. Co. Ltd., Tsurumi Manufacturing Co., Ltd., United Centrifugal Pumps (M) Sdn Bhd., Vanton Pumps (Europe) Ltd., WILO SE, Xylem Inc., Zhejiang Rijing Pump Co. Ltd., and Zhejiang Southern-Lights Pump Group Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Centrifugal Pump Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Between Bearing
Overhung Impeller
Vertically Suspended
Stage
Multistage
Single Stage
Impeller Type
Enclosed
Open
Partially Open
Flow
Axial Flow
Mixed Flow
Radial Flow
Operation Type
Air-Driven
Electrical
Hydraulic
Distribution Channel
Offline
Online
End-Use
Commercial & Residential
Industrial
Agriculture
Chemical
Cosmetics & Personal Care
Oil & Gas
Pharmaceutical
Power
Water & Wastewater
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year