Centrifugal Pump Market Size, Share, and Analysis, By Type (Vertically Suspended, Between Bearing, Overhung Impeller and Others), By Stage (Single Stage, Multistage), By Operation (Electrical, Hydraulic and Air Driven), By End User (Industrial, Commercial

Centrifugal Pump Market Size, Share, and Analysis, By Type (Vertically Suspended, Between Bearing, Overhung Impeller and Others), By Stage (Single Stage, Multistage), By Operation (Electrical, Hydraulic and Air Driven), By End User (Industrial, Commercial & Residential) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

Centrifugal Pump Market Size, Share, and Analysis, By Type (Vertically Suspended, Between Bearing, Overhung Impeller and Others), By Stage (Single Stage, Multistage), By Operation (Electrical, Hydraulic and Air Driven), By End User (Industrial, Commercial & Residential) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Centrifugal Pump Market is estimated to grow at a CAGR of 5.3% in the forecast period (2024-2034), with the market size valued at USD 37.1 billion in 2023 and estimated to reach USD 65.2 billion by 2034.

Centrifugal Pump is a dynamic device which is used in order to transport fluids by converting mechanical energy to kinetic energy with the assistance of a motor or engine. These pumps work under the law of centrifugal force, where the rotation of an impeller within a pump generates centrifugal force, making the fluid move outward from the centre of rotation. Centrifugal pumps find applications across various industrial verticals including water supply, wastewater solutions, chemical processing and oil and gas, due to their efficiency, flexibility and consistency. Added to that, their ability to handle vast volumes of fluids and adapt to changing conditions make them crucial for a wide range of industries, strengthening their place in modern industry.

MARKET HIGHLIGHTS

Centrifugal Pump Market is anticipated to reach USD 65.2 billion, growing at a CAGR of 5.3% during the forecast period due to the increasing industrialization, urbanization and growing demand for water and wastewater management solutions. Further, the expansion of the oil and gas industries, where centrifugal pumps are used for fluid transfer, contributes to market growth. These pumps are preferred for their efficiency, capacity to handle enormous fluid volumes, and low maintenance requirements. Pump technological advancements, such as increased energy efficiency and the incorporation of smart sensors for performance monitoring, contribute to their growing popularity. As we move forward, the continued infrastructural growth around the world, as well as increased environmental restrictions, are expected to augment demand for centrifugal pumps.

Centrifugal Pump Market Segments:

• By Type
• Vertically Suspended
• Between Bearing
• Overhung Impeller
• Others
• By Stage
• Single Stage
• Multistage
• By Operation
• Electrical
• Hydraulic
• Air Driven
• By End User
• Industrial
• Commercial
• Residential

MARKET DYNAMICS

Growth Drivers

Rising Industrial Growth Has Been Effective for the Positive Growth of Centrifugal Pump Market

Urbanization and Infrastructural Development in Various Countries Have Been Pivotal in Boosting the Overall Growth in the Market Sphere.

Restraint

High Operational and Maintenance Costs Pose a Significant Challenge for the Centrifugal Market

Key Players

• Sulzer Ltd.
• Grundfos
• Xylem Inc.
• Flowserve Corporation
• KSB Group
• ITT Goulds Pumps
• Ebara Corporation
• Weir Group PLC
• Wilo SE
• Tsurumi Pump
• Ruhrpumpen Group
• Pentair plc
• Kirloskar Brothers Limited
• Baker Hughes
• Schlumberger Limited
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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