Asia-Pacific Centrifugal Pumps Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Centrifugal Pumps Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific Centrifugal Pumps Market is expected to register a CAGR of 5.7% over the forecast period. According to world pumps, massive population re-location initiatives and infrastructure expansion in India and China over the next few years will mean increasing demand for centrifugal pumps in power generation and wastewater treatment. A study by the US Department of Energy reveals that 16% of the electricity costs in an industry are due to pump systems.

Key Highlights

• Amid ongoing urbanization and infrastructure modernization, the Chinese pump market showcase the great potential for future growth. On the surface, it appears that this is a great time for pump suppliers to focus on expanding in the Chinese market because of a recent government subsidy program that encourages and incentivizes using energy-efficient water pumps. The pumps used in the power generation and water & wastewater treatment sectors are expected to be in high demand.
• In the Asia-Pacific region, particularly in China, on average, pumps made are 80% as efficient as pumps produced in other developed areas. This is due to a larger emphasis on initial pump cost rather than its long-term energy savings potential. According to industry estimates, India produces about 4.5 million pumps per annum. As per the Indian Pump Manufacturers' Association, the segment has around 800 manufacturers making pumps of different capacities.
• China, India, and other Asian countries are experiencing robust investments into infrastructure, which is expected to increase industrial output for the centrifugal pump market. For instance, energy-efficiency mandates introduced in the pump market will ultimately benefit large international companies such as Sulzer, KSB, Xylem, and many more.
• Industrial manufacturing companies were grappling with the unprecedented effect of the COVID-19 pandemic, as both the manufacturing and supply chain operations were disrupted, and their customer's operations faced similar threats. Further, COVID-19 has negatively impacted the market growth, mainly due to stoppage in discrete manufacturing industry operations. Due to restrictions in lockdowns, delays in project construction activities exponentially affected the whole supply and distribution network, hitting industrial equipment companies with a lag.

Key Market TrendsIncreasing Government Focus on Energy Efficient products to Drive the Market Growth

• Governments of developing countries such as China and India are focusing on urbanization, which is anticipated to fuel demand for centrifugal pumps, particularly in domestic, Water, and wastewater treatment industries. As improved infrastructure development continues to be a priority for numerous countries, the need for quality centrifugal pumps will also increase drastically.
• Other factors expected to heighten the demand for the centrifugal pumps market include growth in several end-use application segments, increased opportunities in different regions throughout the globe, and the growing demand for centrifugal pumps. Key factors contributing to the development of the global pumps market include growing energy consumption, steady demand from end-users, continuous investment in R&D activities, and increasing focus on renewable energy.
• The increasing demand for more efficient pumps and rapid industrialization in India and China are expected to propel the industrial pump market in the coming years. The growing need for better efficiency in production processes across a wide range of industries is expected to drive the industrial pumps market during the forecast period.
• The Government of India has launched several initiatives which have opened global opportunities for partnerships in the engineering sector. Such initiatives include Make in India and Smart Cities. The government has also planned several industrial corridors to boost manufacturing across India, including Delhi-Mumbai Industrial Corridor (DMIC), Bengaluru-Mumbai Economic Corridor (BMEC), and many more. Overall, these initiatives have opened vast opportunities for pumps as they are directly related to the end-use sectors such as construction, water management, and power generation, among others.

Water and Wastewater to Witness Significant Growth

• The type of pumps most commonly used at wastewater treatment plants includes the centrifugal, progressive cavity, and positive displacement. The rise in demand for water and wastewater has presented a host of challenges such as increasing energy costs, raised concern about the efficiency of pumps, and increased life cycle costs. According to the World Health Organization (WHO), half the global population is expected to live in water-stressed areas by 2026. Hence, the demand for centrifugal pumps in water and wastewater treatment infrastructures is expected to develop significantly worldwide in the coming years.
• Environmental regulations regarding energy consumption and pollution are becoming stricter, eventually forcing old treatment plants to upgrade their facilities or shift to new equipment. New treatment facilities and expansion projects are expected to increase the sales of pump manufacturers and help penetrate the global market. The need to reduce lifecycle costs to improve operating margins is anticipated to boost the usage of centrifugal pump system units in the water and wastewater industry.
• The recent developments in the water and wastewater treatment industries concerning the adoption of automation and centralized control systems to monitor water and wastewater quality, along with a strong focus on power and energy management, have provided a challenging environment for pump manufacturers. In addition, the demand for centrifugal pumps from water and wastewater treatment plants is anticipated to boost the growth of the centrifugal pumps market.
• Centrifugal pumps are used in various areas within water and wastewater technology. Due to the gas conveying capability's special properties and self-priming behavior, the pumps are also used in critical areas, for example, in the food and beverages industries. Apart from general water pumping, centrifugal pumps have special properties to transport media containing gas proportions of up to 30% of the volume flow rate to be supplied.

Competitive Landscape

The Asia-Pacific Centrifugal Pumps Market is competitive and consists of several partakers like Baker Hughes Company, EBARA Pumps Europe S.p.A, Flowserve Corporation, KSB SE & Co., Ruhrpumpen Group, Schlumberger Limited, Sulzer Ltd and many more. The companies are increasing their market share by forming multiple partnerships, investing in projects, and launching new products in the market.

• March 2022 - Flowserve partnered with Gradiant to Accelerate Growth in the Water Technology Market. This partnership combines Flowserve’s flow control solutions and product expertise with Gradiant’s innovative, tailored water treatment technology to provide unparalleled water treatment solutions for customers. Flowserve also continues to upgrade its water portfolio with market-leading flow control products and solutions for the water industry. Recent additions include the H2O+ submersible pump, a suite of highly efficient pumps for desalination, and the RedRaven IoT platform, enhancing the overall solutions portfolio and aftermarket services.
• January 2021 - Sulzer acquired Nordic Water, a leading provider of screening, sedimentation, and filtration solutions for municipal and industrial water & wastewater applications. The acquisition allows Sulzer to grow its wastewater treatment business through equipment complementary to the existing portfolio of pumps. The company aims at exceptional opportunities to accelerate the growth in municipal and industrial wastewater and expand its offerings into the fast-growing water treatment market.

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• The market estimate (ME) sheet in Excel format
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