DUBLIN–(BUSINESS WIRE)–The “Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, Between Bearing), Operation Type (Electric, Hydraulic, Air Driven), Stage (Single Stage, Multistage), End-User (Industrial, Commercial, Residential), Region- Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The centrifugal pump market is projected to grow from an estimated USD 36.6 billion in 2021 to USD 48.8 billion by 2026, at a CAGR of 5.9%, from 2021 to 2026.
Increasing investments in modernizing water and wastewater infrastructure, infrastructure development, and power generation in emerging economies and the growth of industries such as chemicals and manufacturing is driving the market for centrifugal pumps across the world.
The industrial segment is expected to hold the largest share of the centrifugal pump market, by end-user, during the forecast period.
The industrial segment of the global centrifugal pump market is expected to grow at a fast pace during the forecast period. This can be attributed to rapid growth in industrialization and urbanization across the world. The use of centrifugal pumps in industries such as water and wastewater, oil & gas, process industries, chemicals, and mining is increasing due to their high efficiency, wide capacity range, flow rate, and ease of operation and maintenance.
Asia Pacific: The largest market for centrifugal pumps.
The Asia Pacific is the largest market for centrifugal pumps, followed by Europe and North America. While China will continue to drive demand, growing industrial demand and increasing investments in infrastructure development in emerging economies such as India, Thailand, and Malaysia are expected to boost the demand for centrifugal pumps. Furthermore, rising standards of living and growing urbanization, along with the rising demand for proper sanitation are driving the centrifugal pump market in the Asia Pacific.
The leading players in the centrifugal pump market are Grundfos (Denmark), KSB (Switzerland), Flowserve (US), Sulzer (Switzerland), and Xylem (US)
- Increasing Investments for Upgrading Aging Industrial Infrastructures and Ongoing Global Urbanization to Drive Market Growth
- Centrifugal E Pump Market in Asia-Pacific to Grow at Highest CAGR from 2021 to 2026
- Industrial Segment and China Held Largest Shares of Centrifugal Pump Market in Asia-Pacific in 2020
- Overhung Impeller Segment to Hold Largest Share of Centrifugal Pump Market in 2026
- Electrical Segment to Account for Largest Share of Centrifugal Pump Market in 2026
- Single Stage Segment to Account for Large Share of Centrifugal Pump Market in 2026
- Industrial Segment to Hold Large Share of Centrifugal Pump in 2026
COVID-19 Health Assessment
- Road to Recovery
- COVID-19 Economic Assessment
- Intensified Demand for Water and Wastewater Management in Developed Countries
- Surged Investments in Global Construction Industry
- High Demand for Centrifugal Pumps from Agricultural Sector
- Cavitation Effect in Centrifugal Pumps
- Increased Focus on Renewable Energy Sources for Power Generation and Decreased Oil and Gas Prices
- Increased Investments in Wastewater Treatment Plants in Emerging Economies
- Inflow of Investments in Food and Beverages Industry
- Surged Adoption of Solar-Powered Centrifugal Pumps
- Increased Competition from Gray Market Players and Unorganized Sector
- Impact of COVID-19 on Centrifugal Pump Market
- Ebara Corporation
- ITT Corporation
- Circor International
- Baker Hughes (A GE Company)
- Alfa Laval
- Ingersoll Rand (Gardner Denver)
- Kirloskar Brothers Limited
- Tsurumi Manufacturing
- Mody Pumps
- Spt Pumpen
- Griswold (A PSG Dover Company)
- Hcp Pump
- Cnp Pumps
- PSP Pumps
- Zhejiang Doyin Technology
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