Centrifugal Pump Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Centrifugal Pump Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Centrifugal Pump Market

The global centrifugal pump market size was valued at USD 33.69 billion in 2023 and is projected to grow from USD 35.53 billion in 2024 to USD 59.95 billion by 2032, exhibiting a CAGR of % during the forecast period of 2024-2032.

The pandemic disrupted the Centrifugal Pump Market by halting manufacturing and reducing demand in industries like oil, fuel, and creation. However, recovery became fueled by extended demand in essential sectors like healthcare and water remedy, along with growing automation traits, impeding the centrifugal pump market growth.

Key factors for the Centrifugal Pump Market include developing industrialization, increased water and wastewater remedies demand, and the growing need for green power use in diverse sectors. Additionally, the expansion of the oil and fuel industry, in conjunction with improvements in pump technology, is further fueling marketplace increases.

Current trends reveal that energy efficiency and sustainability are the major factors driving the centrifugal pump marketplace. Some trends emerging regarding centrifugal pumps include developments that improve their hydraulic efficiency and lower energy intake. Also, using variable speed drives (VSDs) to control and improve the efficiency of pumps provides a considerably broadened centrifugal pump market share worldwide and cuts back the strength intake. Besides, the repeated usage of sustainable materials such as recycled materials and bio-based polymers is part of a more ecological approach to pump production. These developments are not only affecting a downward trend for operational prices but also lessening the consequences of pumping structures for the environment.

Comprehensive Analysis of Centrifugal Pump Market

The Centrifugal Pump Market is segmented using drift, level, and quit-user. By going with the flow, the marketplace includes radial, axial, and mixed drift pumps, with radial flow pumps expected to steer due to their performance and coffee maintenance. Axial glide pumps are used in drainage and sewage, and even mixed go with the flow pumps employed in agricultural and business settings. The market is split by degree into single-level and multi-level pumps, with multi-degree pumps projected to dominate due to their electricity performance and optimized operation. By end-person, the commercial zone, in particular in water remedy, oil & gas, and strength generation, is expected to drive an increase. The agricultural quarter is likewise increasing due to cost-powerful and flexible pumps for small farmers. The commercial section will continue to grow with programs like HVAC, sewage, and irrigation structures.

The Asia Pacific region led the centrifugal pump market by benefitting a size of USD 13.45 billion in 2023 due to the unexpectedly developing energy demand and a considerable boom in manufacturing and processing industries; the regional outlook will be, in addition, complemented.

The leading players in the centrifugal pump market significantly influence its growth trajectory and set industry standards. These key players, including GRUNDFOS (Denmark), KSB Company (Germany), Wilo Group (Germany), Flowrox (Finland), Sulzer (Switzerland), Xylem (U.S.), Dover Corporation (U.S.), The Weir Group PLC (Scotland), Ebara Corporation (Japan), ITT Corporation (U.S.), Flowserve Corporation (U.S.), and Kirloskar Brothers Limited (India), contribute to a competitive landscape, driving innovation and market advancement.

In April 2021, Xylem Inc. Formed a partnership with ESRI, the worldwide chief in place intelligence, to collaborate on serving utilities internationally. The partnership will focus on joint technical road mapping, answer improvement, co-advertising and marketing, and collaborative selling efforts.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2019-2032

Base Year

2023

Estimated Year

2024

Forecast Period

2024-2032

Historical Period

2019-2022

Unit

Value (USD Billion)

Growth Rate

CAGR of 6.76% from 2024 to 2032

Segmentation

By Flow

Axial Flow

Radial Flow

Mixed Flow

By Stage

Single-Stage

Multi-Stage

By End-User

Residential

Commercial

Agriculture

Industrial

By Geography

North America (By Flow, By Stage, By End-User, By Country)

• U.S. (By End-User)
• Canada (By End-User)

Europe (By Flow, By Stage, By End-User, By Country)

• U.K. (By End-User)
• Germany (By End-User)
• France (By End-User)
• Italy (By End-User)
• Spain (By End-User)
• Russia (By End-User)
• Rest of Europe (By End-User)

Asia Pacific (By Flow, By Stage, By End-User, By Country)

• China (By End-User)
• Japan (By End-User)
• Singapore (By End-User))
• South Korea (By End-User)
• India (By End-User)
• Rest of Asia Pacific (By End-User)

Latin America (By Flow, By Stage, By End-User, By Country)

• Brazil (By End-User)
• Mexico (By End-User)
• Rest of Latin America (By End-User)

Middle East & Africa (By Flow, By Stage, By End-User, By Country)

• GCC (By End-User)
• South Africa (By End-User)
• Rest of Middle East & Africa (By End-User)

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