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

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

The Europe Centrifugal Pumps Market is expected to grow at a CAGR of 4.1% during the forecast period. Factors such as increasing urbanization and a high focus on water conservation & wastewater management across various end-user industries are expected to fuel the growth of the centrifugal pump market in Europe.

Key Highlights

• A large portion of the European population stays in urban areas. For instance, according to the Population Reference Bureau, in 2021, about 75% of Europe's population lived in urban areas. The increasing urbanization rate is encouraging the governments to improve infrastructure, as the rapid growth of the urban population is creating pressure on the existing drinking and utility water infrastructure. This, in turn, drives the demand for centrifugal pumps in the region, as they are widely used for water pumping applications.
• As centrifugal pumps are often used to circulate water, the increasing adoption of modern agricultural practices due to the growing demand for organic foods in the European region is expected to provide players with ample growth opportunities. For instance, the European Union has set a target to turn at least 25% of the EU's agricultural land under organic farming to support organic agriculture by 2030.
• Centrifugal pumps are also widely used in the oil and gas industry for extraction and processing. Increased exploration and production (E&P) activities in the European region's offshore deep-sea oil and gas fields, especially since the beginning of the Russia - Ukraine dispute, and increased demand across various sectors are driving the market growth for the centrifugal pumps in Europe.
• The construction sector's growth is also significantly impacting the demand for centrifugal pumps as they are very valuable for pumping liquids quickly and effectively. According to the European Commission, the construction sector contributes about 9% of the European Union's GDP. In 2021, the construction output in the EC-19 increased by 5.6 percent (Source: Euroconstruct).
• Features such as simple design, easy repair, easy operation, and maintenance will create positive growth opportunities for the market by increasing the acceptance of centrifugal pumps in the industrial sector. Ease of installation, high energy efficiency, low internal friction loss, and increased demand for multi-stage centrifugal pumps driven by optimized control and operation are driving sales prospects in the region.
• Continued competition with globalization, the need for continuous innovation, and the development of better technologies are some of the challenges in the market. Advances in non-metal parts and additive manufacturing have also contributed to and are intensifying competition among centrifugal pump manufacturers in Europe.
• The spread of COVID-19 has negatively impacted the centrifugal pump market in Europe, owing to the lockdowns imposed in most countries across the region. The demand for these products has been hampered temporarily during the pandemic due to the shutting down or reduced commercial activities. However, the demand is expected to pick pace gradually with the industrial and commercial activities returning to pre-pandemic conditions.

Key Market TrendsRapid Urbanization to Drive the Market growth

• Centrifugal pumps transport large quantities of liquid and provide an efficient flow rate. Advances in developing commercial and residential infrastructure with increased urbanization and new projects in the European region are expected to drive the adoption of these pumps. In addition, increasing the adoption of pumps in multiple applications is expected to increase the demand for these pumps.
• According to the World Bank, the percentage of the urban population in the European Union has increased from 73% in 2012 to 75% in 2021. The increasing urban population further drives the demand for efficient utilities (water, electricity, gas, etc.) distribution systems which is creating a favorable market scenario for the centrifugal pump
• As the growth of the urban population increases the consumption of water, new water distribution systems are built to fulfill the requirements of the urban population. For instance, to solve water supply problems by developing the water and wastewater infrastructure in Buzău county, Romania, the European Commission approved an investment of more than EUR 127 million from the Cohesion Fund, in June 2022.
• Similarly, in March 2021, a grant financing agreement worth EUR 7.15 million was signed between the French Development Agency (AFD), the Ministry of Regional Development and Infrastructure of Georgia. The EU-funded grant facility is intended to help Khashuri municipality modernise its water supply and sanitation systems.
• As centrifugal pumps are widely used across the water & wastewater ecosystem, growing such investments are expected to create growth opportunities for the vendors operating in the European region during the forecast period.

Oil and Gas Sector to Hold Significant Market Share

• Centrifugal pumps are commonly used pump types in the oil and gas industry. These pumps are used in the oil and gas sector to pump petroleum and petroleum products, liquefied gases, and other liquids during operation. The rise of oil and gas infrastructure development across various European countries is expected to significantly boost the centrifugal pump market over the forecast period.
• Russia is among the leading suppliers of oil & gas to most European countries. However, the war in Ukraine has accelerated the discussion on the European country’s energy strategy; most of the oil-producing countries, including Italy, Denmark, Romania, etc., have started focusing on increasing production to fulfill the local demand. For instance, in early 2022, the Romanian government announced its plans to revive gas and oil exploration and development in the Black Sea to achieve self-sufficiency.
• Companies are also focused on innovations and using advanced technologies to ehnance market growth. Additionally, to further expand their market presence and technological expertise the companies are also focusing on acquisitions. For instance, in August 2021, Atlas Copco, a Swedish company, acquired Ontario-based centrifugal pump specialist Cologne. The company believes that Cologen's technology and market presence align with its existing gas and process operations. This acquisition also adds complementary assets to its portfolio and strengthens its position in the market.
• Furthermore, a large portion of energy demands of the European countries is fulfilled by petroleum products that are imported from other countries. According to EU, a major portion of crude oil imports comes from countries such as Russia, the United States, Norway, Saudi Arabia and the United Kingdom. As centrifugal pumps are also used as pumping stations of oil & gas pipelines, their demand is expected to grow during the forecast period.

Competitive Landscape

The market is moderately fragmented, with key regional players such as Baker Hughes Company, Sulzer Ltd, The Weir Group PLC, Flowserve Corporation, and more. These players focus on innovating new technological products to expand their market presence further. Further, the players are also concentrating on expanding business by establishing partnerships, mergers, and acquisitions.

• January 2022 - Sulzer expanded its portfolio of clean water pumps with the launch of the SES and SKS ranges, which are EN733 standard pumps designed for water treatment facilities, municipalities, and commercial and irrigation applications. The European market models of the pumps are equipped with high-efficiency IE3 or IE4 motors and allow users to choose from various instrumentation and auxiliary component options.
• July 2021 - After working with Grundfos pumps for many years, oelheld GmbH, a leading fluid technology provider, announced that it has officially become a UK supplier of Grundfos Pumps. Grundfos offers a broad range of multi- and single-stage centrifugal top-mounted and fully submersible options to suit a wide range of existing setups.

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• The market estimate (ME) sheet in Excel format
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