Hot Water Circulator Pump Market Forecasts to 2028 – Global Analysis By Type (Single-Stage Pump and Multistage Pumps), Material Type (Stainless Steel, Bronze, Cast Iron and Other Material Types), Flow Rate (Upto 2m3/h and Above 2m3/h), Application (Reside

Hot Water Circulator Pump Market Forecasts to 2028 – Global Analysis By Type (Single-Stage Pump and Multistage Pumps), Material Type (Stainless Steel, Bronze, Cast Iron and Other Material Types), Flow Rate (Upto 2m3/h and Above 2m3/h), Application (Residential, Commercial and Industrial) and By Geography

According to Stratistics MRC, the Global Hot Water Circulator Pump Market is accounted for $7.73 billion in 2022 and is expected to reach $11.79 billion by 2028 growing at a CAGR of 7.3% during the forecast period. A component that is installed in a hot water system to make sure that hot water is circulated throughout the system is a hot water circulator pump. There is no need to wait for hot water to get to the faucet or shower as the pump circulates hot water continuously through the pipes, which saves a lot of energy. When used in structures with extensive water distribution systems, these pumps perform flawlessly. Hot water circulator pump market growth has been accelerated by the rise in multi-story building construction.

Market Dynamics

Driver

Growing usage in several industrial sectors

Pumps for the circulation of hot water are employed in numerous industrial fields. One of the main factors boosting market growth is industrial development. Additionally, the increasing use of hot water circulator pumps for domestic and commercial applications is promoting market expansion. Additionally, in order to lower energy consumption and carbon footprints, governments around the world have consistently set strict efficiency standards for the environmental design of energy-using products. As a result, the market for hot water circulator pumps has increased due to various energy labeling programs and a greater emphasis on energy efficiency.

Restraint

High cost of installation and maintenance

Standard pipes' bends and elbows are more prone to deterioration, and when used with a hot water circulator pump, they could even burst. Fixing such harm may be expensive. Despite their lengthy lifespans and warranties, hot water circulator pumps do not last forever. They eventually need to be changed. Additionally, market is restricted by the high cost of installing and maintaining hot water circulation systems as well as the availability of alternatives to traditional heating techniques.

Opportunity

Rising focus on resource efficiency and climate change

The primary factors influencing the growth of the global market are the increasing emphasis on resource efficiency and climate change, the increasing adoption of IoT in homes, and the increasing implementation of regional codes and standards across geographies. Since hot water circulation pumps only circulate water when it is actually needed, they are regarded as water- and energy-efficient systems. Compared to conventional water heaters, these systems waste significantly less energy and emit fewer greenhouse gases.

Threat

Lack of awareness in emerging regions

The market's expansion is hampered in some parts of developing continents like Asia and Africa by a lack of knowledge and understanding of hot water circulator pumps. Customers in these areas might not be aware of or familiar with the advantages of such pumps. Additionally, the hot water circulator pump market's expansion may be constrained by the low income levels in some regions of Asia and Africa. These items might be considered luxuries rather than essential appliances. There could be a shortage of qualified professionals, like plumbers, who can install and maintain such pumps in some regions of Asia and Africa. As a result, consumers might not have access to the services they require to use these products, which can lower demand for them and restrain market expansion.

Covid-19 Impact

The hot water circulation pump industry was significantly impacted by the COVID-19 pandemic. Circulator pump demand has fluctuated as a result of disruptions in the world's supply chains and the ensuing economic uncertainty. This compelled the hot water circulator pump industry to adopt new strategies in order to advance its methods and boost sales among its target market. Due to interruptions in the global supply chain, production and delivery of hot water circulator pumps were also impacted, which led to a shortage of some goods.

The single-stage pump segment is expected to be the largest during the forecast period

Due to their numerous benefits, including their energy-efficient design, single-stage hot water circulator pumps are expected to be the largest during the forecast period. These pumps are extensively used throughout the world in both the residential and commercial sectors. They help to cut down on the energy required to heat the water and keep it flowing through the pipes because they are made to move hot water through a system quickly and effectively. When compared to other hot water circulation systems, single-stage pumps are both inexpensive to buy and install. They are therefore a popular option for people and businesses looking for a cost-effective way to increase the circulation of their hot water.

The upto 2m3/h segment is expected to have the highest CAGR during the forecast period

Due to the rising demand for energy-efficient and cost-effective hot water circulation systems, hot water circulator pumps with flow rates up to 2m3/h are anticipated to lead in the coming years. Because of their suitability for smaller structures, residential homes, and single apartment units, the demand for smaller flow rate pumps is likely to rise.

Region with largest share

The hot water circulator pump market is dominated by the European region in the projection timeline. For energy-related products, the regional governments have established strict efficiency standards. Additionally, green buildings are now a widespread phenomenon in Europe, and to receive certification, builders must abide by EU pump efficiency regulations. All of these elements play a significant role in the growth of the market in this area.

Region with highest CAGR

The need for quicker and more effective hot water delivery, energy efficiency, and sustainability has led to higher product demand in the North American region. Due to this, the North American region is estimated to register a high growth rate during the forecast period. Supportive government policies are promoting regional development in this region. The U.S. is the second-leading region in terms of volume and value. Additionally, the growth in this region is being aided by the US's ongoing new building construction activities as well as the robust demand from the residential market.

Key players in the market

Some of the key players profiled in the Hot Water Circulator Pump Market include Aqua Flo, Armstrong Fluid Technology, BACOENG, Bell and Gossett, Calpeda SA, Century Electric, Flowserve Corporation, Fujian ELESTAR Motor Co., Ltd., Grundfos Holding A/S, HSH-Flo, Leo Pumps, Ningbo Yinzhou H.T. Industry Co. Ltd, SAER Elettropompe SpA, Shimge Pump Industry Group Co., Ltd., TACO INC., Taizhou Dalang Pump Industry Co., Ltd, US Solar Pumps, Wilo SE, Xylem Inc. and Zhejiang Yonjou Technology Co., Ltd.

Key Developments

In February 2023, Flowserve Corporation, a leading provider of flow control products and services for the global infrastructure markets, and Clariter, a global cleantech pioneer, announced that the companies have entered into a strategic collaboration agreement to advance production of Clariter’s high-quality, green petrochemicals made from plastic waste.

In October 2022, Grundfos unveiled its latest range of small circulators designed for the residential heating market. In Grundfos Digital NEXT, the range includes the UPSe 15-58 model, which was first introduced in late 2022.

In June 2022, Flowserve Corporation, a leading provider of flow control products and services for the global infrastructure markets, announced it was awarded a contract to provide pumps to TMGcore, Inc., a Texas-based leading provider of high-performance computing solutions specializing in liquid immersion cooling technology.

Types Covered
• Single-Stage Pump
• Multistage Pumps

Material Types Covered
• Stainless Steel
• Bronze
• Cast Iron
• Other Material Types

Flow Rates Covered
• Upto 2m3/h
• Above 2m3/h

Applications Covered
• Residential
• Commercial
• Industrial

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements