Global Centrifugal pump Market is expected to foresee significant growth. Asia Pacific to lead the growth!
- Himanshu Patni
- April 5, 2022
- ENERGY & POWER, NEWS
- Centrifugal Pump Market, Centrifugal Pump Market growth, Centrifugal Pump Market share, Centrifugal Pump Market size
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Global Centrifugal pump market was valued around 32 bn in 2020 and is expected to grow at a CAGR of around 5% during the forecast period (2021-2027). Rising demand for centrifugal pumps is predicted by the expanding number of worldwide wastewater treatment plants. In addition, various technical developments, such as the creation of 3D printed impellers and the use of modeling software, are also contributing to growth. Moreover, rising need to replace outdated industrial pumps in the pharmaceutical and food and beverage sectors is also fueling market expansion.
A centrifugal pump is a mechanical device that is designed to increase the pressure of fluids during transportation. It converts the rotational kinetic energy to hydrodynamic energy, which is used for accelerating fluids, such as chemicals, water, wastewater, sludge treatment liquids, bleaches, oil, and resins. The fluid enters the pump impeller, which is placed near the rotating axis and is accelerated and moved radially into a diffuser, from where it exits.
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Factors, such as increasing exploration and production (E&P) activities in offshore deep-water oil and gas fields in the regions are expected to increase the demand for centrifugal pumps, as it is one of the most used pumps in the oil and gas industry for extraction, processing, and delivering applications. In addition, rapid industrialization, along with increasing product demand from the wastewater treatment sector, is among the key factors driving the growth of the market. Furthermore, the growing need to replace existing industrial pumps in the pharmaceutical and food and beverage industries is also providing a boost to the market growth.
Based on impeller type, the centrifugal pump market is segmented up to overhung impeller, vertically suspended and between bearing. The overhung impeller segment catered significant demand in centrifugal pump market. The growth of the segment is owing to the extensive use of overhung impellers in commercial, residential, and industrial applications. In addition, they are also used in different end-use industries for power generation owing to their low cost as compared against bearing pumps.
Based on stage, the centrifugal pump market is segmented into single stage pump and multi-stage pump. The multistage segment holds the considerable market share in centrifugal pump market. This is due to their high energy efficiency, easy installation, low internal friction losses, optimized operation and control and other features.
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Based on capacity, the centrifugal pump market is segmented into small capacity, medium capacity, high capacity. The high-capacity segment holds the considerable market share in centrifugal pump market. As centrifugal pumps are usually specified for higher flows and for pumping lower viscosity liquids. Also, centrifugal pumps are therefore suited to low pressure, high capacity, pumping applications of liquids with viscosities between 0.1 and 200 cP.
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, Spain, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Asia Pacific holds the extensive market share owing to the growing industrial activities due to low manufacturing costs and the support of the local governments. Also, increasing investments in R&D is also one of the factors driving the centrifugal pumps market in Asia Pacific.
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Some of the major players operating in the Baker Hughes, Circor International Inc., Ebara Corporation, Grundfos Holding, ITT Corporation, Pentair Inc., Someflu, Tsurumi Manufacturing Co. Ltd., Weir, Xylem Inc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
Global Centrifugal pump Market Segmentation
Market Insight, by Impeller Type
- Overhung Impeller
- Vertically Suspended
- Between Bearing
Market Insight, by Stage
- Single Stage Pump
- Multi-Stage Pump
Market Insight, by Flow Type
- Axial Flow Pumps
- Radial Flow Pumps
- Mixed Flow Pumps
Market Insight, by Capacity
- Small Capacity
- Medium Capacity
- High Capacity
Market Insight, by End-User
- Oil and Gas
- Power Generation
- Food and Beverages
- Metals and Mining
- Water and Wastewater
Market Insight, by Region
- North America Centrifugal Pump Market
- United States
- Rest of North America
- Europe Centrifugal Pump Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Centrifugal Pump Market
- Rest of Asia-Pacific
- Rest of World Centrifugal Pump Market
Top Company Profiles
- Baker Hughes
- Circor International Inc.
- Ebara Corporation
- Grundfos Holding
- ITT Corporation
- Pentair Inc.
- Tsurumi Manufacturing Co. Ltd.
- Xylem Inc.